Abstract:The natural gas industry in Brazil has undergone three waves of reforms since the late 1990s regarding liberalization and market opening. The gas law approved in 2021 reinforces the unbundling between transport and commercialization of natural gas and guarantees third-party access to essential infrastructure. The new legal framework achieves the vertical separation of upstream and midstream segments but does not reach the downstream segment subject to state regulations. The exit of the incumbent (Petrobras) fr… Show more
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