MSGás signs US$5.8mn contracts, begins 50km expansion
Bnamericas Published: Wednesday, September 01, 2004
Brazilian natural gas distributor MSGás signed a package of contracts worth a total of 16.9mn reais (US$5.8mn) Wednesday to supply gas to industrial and residential clients in Mato Grosso do Sul state capital Campo Grande, implying a 50km network expansion, local news service CampoGrande News reported. MSGás is controlled by the Mato Grosso do Sul state government in Brazil's agricultural belt of the center-west region. Federal energy company Petrobras (NYSE: PBR) has a 49% stake in the company. The company has been mainly supplying gas to two power generators since it was created in 1998, but now it is expanding to supply residential, industrial and vehicular sectors. Sales to vehicles have grown significantly in recent months, as the gas-fuelled vehicle fleet grows at 8% a month. Sales volumes in the first half of 2004 came to over 2.5 million cubic meters a day, of which more than 90% was for power generators.
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