Companhia Pernambucana de Gas

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Copergas is the natural distribution utility of the northeastern state of Pernambuco. Created in 1992, the company started its commercial operations only in Jun. 1994, attending mostly industrial consumers, and distributing around 500,000 cubic meters of gas per day. Copergas is a joint-venture of Enron's subsidiary Gaspart (41.5%), the state-owned Petrobras' subsidiary Gaspetro (41.5%) and the state of Pernambuco (17.8%). As of 2005, Enron was in the midst of liquidating its operations and distributing its assets to its creditors. The Brazilian subsidiary of the Japanese giant Mitsui concluded in May 2006 the acquisition of Gaspart from the Enron group, by US $250 million. In August 2016, Mitsui acquired a 49% stake in Gaspetro, increasing its stake in the project company to 61.8%. As of 2005, Enron was in the midst of liquidating its operations and distributing its assets to its creditors. Update for 2006: