Companhia Potiguar de Gas

active

Potigas was a joint-venture of EIT (20.75%), Andrade Gutierrez's subsidiary Gasindustrial (20.75%), Gaspetro, a subsidiary of the state-owned Petrobras (41.5%), and the state of Rio Grande do Norte (17%). Created in 1993, the company signed a 50-year concession contract to develop the state's distribuion network in December 1994. Operations commenced in March 1995. Most of Potigas sales are directed to industrial consumers (90%), and the remaining to commercial users. In December 2003, Gaspetro bought 24% of the shares of Potigas, increasing its participation in the company to 49%. The shares were bought from EIT and Andrade Gutierrez, which were no longer shareholders of Potigas. The State of Rio Grande do Norte kept 51% shares of the company. In December 2015, GASPETRO sold 49% of its shares to the Japanese company Mitsui Gas e Energia do Brasil. In August 2016, a Brazilian judge overturned a preliminary injunction that prevented this selling, authorizing the deal. The new shareholding of Potigás was structured as follows: Rio Grande do Norte state (51%), Petróleo Brasileiro S.A. (25%) and Mitsui Gás e Energia do Brasil (24%). As of June 2017, Potigas had a total of 18,947 consumers.