Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 87

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 87
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 Gasoline (C5+) to the market. The first module of the Itaboraí Gas Treatment Unit started operations in September 2024.   
                                                      We own 100% of Route 3.                                                       
                                                              Recently                                                              
installed and upcoming units in the Santos basin Pre-salt cluster are expected to be progressively connected to Route 2 and to Route
     3. All projects are expected to be able to flow through any of the three flow routes when the system is fully implemented.     
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Marketing and Sales
 The total demand of natural gas in 2024 was 47.5 million m3/d.
 The volume of our natural gas consumption by industrial, gas-fired electric power generation, system use gas, commercial and retail customers was 36.6 million m3/d, representing a decrease of approximately 7% compared to 2023. This decrease is mainly attributable to a reduction in non-thermoelectric demand.
<{self.tag} alt="{self.alt}" src="{self.src}"> In 2024, the consumption of natural gas by our refineries was 10.9 million m3/d, which was the same level as in 2023.
 Below we present our sources and consumption in 20247F:
  

Annual Report and Form 20-F 2024 |
Gas & Energy + Program
 In July 2019, we signed an agreement with CADE to increase competition in the natural gas industry in Brazil, which among other matters included the sale of shareholdings in gas transportation and distribution companies. Due to a more open market, in 2020 we started the GAS+ Program, an internal set of actions which aims to increase our competitiveness in the natural gas segment. In 2021, Law No. 14,134, known as the New Gas Law that set the basis for a profound reform of the Brazilian Gas Market was promulgated. As a result of the agreement with CADE and the New Gas Law, according to information provided by the ANP, in 2024 around 16 new players became holders of about 29% of the non-thermoelectric Brazilian natural gas market.
 Given the strategic direction presented in the Strategic Plan 2024-2028+, in force at that time, we formally requested a review of the agreement signed with CADE. The agreement was signed in July 2024, releasing Petrobras from divesting TBG.
 For more information on our agreement with CADE, see “Risks – Risk