Brazil must get gas market reform right if new wave of development is to occur

摘要

BRAZILIANS woke up this week to headlined promises of a 40% reduction in natural gas prices and between $9 billion and $37 billion in investments, depending whose estimates you look at. There is no doubting the untapped potential of associated gas in Brazil's pre-salt fields - fields such as Lula and Buzios are already boosting domestic supply - but the country's natural gas market remains relatively undeveloped due to the pervading influence of a de facto Petrobras monopoly in the midstream.