# EIG Global Energy Partners submits offer for Petrobras pipelines in Brazil, source says Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-08-30 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: EIG Global Energy Partners Submits Binding Offer for Meta Description: U.S. private equity firm EIG Global Energy Partners has submitted a binding offer worth several hundred million dollars for Petrobras' TBG and TSB natural URL: https://financedigest.com/eig-global-energy-partners-submits-offer-for-petrobras-pipelines-in-brazil-source-sayshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2021-08-25t112101z2lynxmpeh7o0fcrtroptp4usa-oil-buzios-1736837964821-compressed.jpg) By Gram Slattery RIO DE JANEIRO (Reuters) – U.S. private equity firm EIG [Global Energy Partners submitted a binding offer worth several hundred million dollars on Monday for Petrobras’ TBG and TSB natural gas pipelines in Brazil, a source with direct knowledge of the matter told Reuters. Petroleo Brasileiro SA, as Brazil’s state-run oil company is formally known, put its stakes in the 2,593-km (1,611-mile) TBG pipeline – carrying natural gas from Bolivia – and the far southern TSB pipeline up for [sale in December](https://www.financedigest.com/aldi-uk-says-december-sales-up-26.html "Aldi UK says December sales up 26%"). Reuters [reported in May that Washington-based EIG submitted a non-binding offer](https://www.financedigest.com/future-market-insightss-detailed-report-on-cat-litter-market-offers-projections-of-potential-impact-of-corona-virus-outbreak.html "Future Market Insights’s Detailed Report on Cat Litter Market Offers Projections of Potential Impact of Corona Virus Outbreak") for the assets in a consortium with Fluxys Belgium NV and Calgary-based Enbridge Inc. However, EIG made its binding offer alone, said the source, who requested anonymity as the matter was confidential. The [firm remains in discussions with Enbridge and Fluxys about a potential](https://www.financedigest.com/oil-firms-must-step-up-exploration-off-norway-to-unlock-potential-npd.html "Oil firms must step up exploration off Norway to unlock potential -NPD") partnership investing in and operating the asset, should EIG’s bid prove successful, the source added. It was not immediately clear if there were competing offers. EIG, Enbridge and Fluxys declined to comment. Petrobras did not respond to a request for comment. The TBG/TSB sale would mark a significant step forward in the ongoing drive at [Petrobras to divest non-core assets in order to reduce its debt load and sharpen its focus on deepwater oil](https://www.financedigest.com/shell-chevron-and-petrobras-weigh-guyana-oil-auction-bids-sources.html "Shell, Chevron and Petrobras weigh Guyana oil auction bids -sources") production. Petrobras has already sold its stake in the TAG and NTS gas pipeline units to consortia led by Engie SA and Brookfield [Asset Management](https://www.financedigest.com/asset-managers-on-alert-after-whatsapp-crackdown-on-banks.html "Asset managers on alert after ‘WhatsApp’ crackdown on banks") Inc, respectively. The [firm sold its 90% stake](https://www.financedigest.com/stellantis-to-build-u-s-firm-archers-air-taxi-up-stake.html "Stellantis to build U.S. firm Archer’s air taxi, up stake") in TAG for $8.6 billion in 2019. However, TBG and TSB are smaller assets, with combined transport capacity slightly below half that of TAG, according to documents released by Petrobras, which has a 51% [stake in TBG and 25%](https://www.financedigest.com/dksh-sells-its-25-stake-in-swiss-luxury-watchmaker-bovet.html "DKSH sells its 25% stake in Swiss luxury watchmaker Bovet") of TSB. TBG, formally Transportadora Brasileira Gasoduto Bolivia-Brasil, manages the Brazilian side of the [pipeline known](https://www.financedigest.com/what-is-known-so-far-about-the-nord-stream-gas-pipeline-leaks.html "What is known so far about the Nord Stream gas pipeline leaks") as the Gasbol. TBG [passes through five southern states](https://www.financedigest.com/india-to-hold-one-day-state-mourning-on-passing-away-of-queen-elizabeth.html "India to hold one day state mourning on passing away of Queen Elizabeth"), including Sao Paulo, the wealthiest and most populous. TSB, formally Transportadora Sulbrasileira de Gas, is a much smaller [asset managing](https://www.financedigest.com/french-asset-manager-amundi-posts-q3-outflows-of-13-billion.html "French asset manager Amundi posts Q3 outflows of billion") two pipelines in Rio Grande do Sul, which borders Argentina and Uruguay. (Reporting by Gram Slattery; Editing by Shri Navaratnam) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---