Gas de Alagoas S.A.

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Algas is the gas distribution concessionaire of the state of Alagoas. Created in 1992, the company started commercial operations only in Aug. 1994, serving mostly industrial consumers (a network of 71.42-KM length). The company expects to start supplying residential consumers after March 2001 (network expansion: 34 KM). Algas is a joint venture of Enron's subsidiary Gaspart (41.5%), state-owned Petrobras' subsidiary Gaspetro (41.5%) and the government of Alagoas (17%). As of 2005, Enron was in the midst of liquidating its operations and distributing its assets to its creditors. In September 2006, the Japanese company Mitsui acquired Eron's stake in Algas. In the end of 2016, a 49% stake of Gaspetro was sold to the Japanese company Mitsui. As of 2005, Enron was in the midst of liquidating its operations and distributing its assets to its creditors. Update for 2006: The Brazilian subsidiary of the Japanese giant Mitsui concluded in May 2006 the acquisition of Gaspart from the Enron group, by US$250 million.