Petrobras Signs Deal to Supply Natural Gas to Steel Mills in Southern Brazil

SEATTLE (Oil Monster): Brazilian state-controlled oil giant Petrobras said on Monday it has signed a deal with steelmaker Gerdau and gas distributor Sulgas to supply natural gas to two steel mills in the southern state of Rio Grande do Sul.

According to Petrobras, the natural gas supply will be made under free market conditions, marking a transition from the previous captive market system in place.

Courtesy: www.reuters.com