ENGIE, CDPQ to acquire remaining 10% stake in TAG from Petrobras

first_imgTAG is the operator of around 4,500km of gas pipeline infrastructure in Brazil ENGIE’s total equity share in TAG will increase to 65%. (Credit: Johannes Rupf/Pixabay ) French electric utility company ENGIE and Caisse de dépôt et placement du Québec (CDPQ) have agreed to acquire Petrobras’s remaining 10% stake in the Brazilian pipeline operator Transportadora Associada de Gás (TAG).The companies have signed a share purchase and sale agreement with Brazilian state-run oil company Petroleo Brasileiro (Petrobras).The deal, which is worth BRL1bn ($187.5m), follows sale of the other 90% of TAG for $8.6bn last year by Petrobras to the same group.TAG is the operator of around 4,500km of gas pipeline infrastructure in Brazil.The gas pipeline system, with an installed capacity of 75 MM m3 /d, is located along the coastline of the Northeast and Southeast regions as well as a further stretch which connects Urucu to Manaus (AM).ENGIE will own 65% stake in Brazilian pipeline operator TAGThrough the deal, ENGIE’s total equity share in TAG will increase to 65%, of which 32.5% is held by ENGIE Brasil Energia. The remaining 35% interest will be held by CDPQ.ENGIE said that it will keep the current equity consolidation method, upon completion of the acquisition.ENGIE interim CEO Claire Waysand said: “We have been operating in Brazil for almost 25 years with a long-term investment focus. This acquisition allows us to invest further in an asset we know, capitalizing on our expertise in networks, in a key country for ENGIE.”Fuerther, it said that the capacity of TAG is fully contracted on the basis of ship-or-pay clauses with an average residual duration of 11 years.Currently, its network represents 47% of the country’s entire gas infrastructure.The infrastructure is said to have further development potential such as network extension, additional connections, gas storage development and green gases transport.last_img read more

GCB Inter-County U-15 tournament Spinners bowl Berbice to 10-wicket win over Essequibo

first_img… face Demerara in Sunday’s finalLEFT-ARM spinners Akash Heralall and Gourav Ramesh shared eight wickets between them, setting up Berbice for a comprehensive 10-wicket victory over Essequibo in the GCB Inter-County Under-15 third-round fixture yesterday at the Police Sports Club ground.Essequibo were dismissed for 85 in 41.3 overs after a dismal batting performance. In the end, only Sheldon Charles (28) looked up for the challenge of batting on a pitch that played a few mind tricks on his teammates.Akash Heralall (4-19) and Gourav Ramesh (4-21) were the main architects in the Berbice bowling attack. They received support from off-spinner Abdul Ramsammy (2-14), who was the other successful bowler.Winning the toss and deciding to bat first, Essequibo openers Charles and Chaitram Seurattan frustrated the Berbice bowling attack and added 28 for the first wicket.The pair succeeded for 13.1 overs, and built on their solid platform with relative ease – the right-handed Charles playing the attacking role.However, Heralall provided the first breakthrough when he trapped Seurattan leg-before-wicket for one.Ricardo Ramdial (right) and Anthony Williams leave the field after their unbeaten opening standThereafter, Essequibo endured a rough time at the crease and squandered their wickets to hand Berbice complete advantage.The spinners broke the backbone of the Essequibo batting line-up, and it was during that phase where they played some poor cricket that led to their downfall.Wasim Mohamed (1) was also trapped plumb in front to Ramsammy before Heralall removed Charles, Manoj Dasraat (0) and Ronaldo Scouten (15).At 57-5, the situation called for a calm head and steady hands, but the remaining batsmen could not provide either of the two.Ramesh began to exploit whatever bounce and turn on offer from the pitch, and in the process looked in complete control of proceedings. He claimed the wickets of Mark Mohabir (0), Oren Gibson (6), Shawn Monro (0) and Inzamam Bacchus (5).Sunil Persaud and Devindra Ramdahin didn’t last long as Ramsammy wrapped things up quickly with the wicket of Ramdahin.Berbice openers Ricardo Ramdial and Anthony Williams then made the most of ideal batting conditions.The pair were cautions at the start of their innings, but eventually batted with assurance as the innings progressed.Ramdial was unbeaten on 34, while Williams was not out on 35, when the victory target was achieved in 24.1 overs.Berbice will face Demerara in Sunday’s final, scheduled for the Georgetown Cricket Club (GCC) ground.Meanwhile, Demerara easily disposed of the GCB President’s X1 by eight wickets in the other game played yesterday at Everest.Batting first, the GCB President’s X1 were bowled out for 84. Shamma Yearwood made a fighting 32. Chanderpaul Ramraj (2-19) and Devanand Khemraj (2-17) were the most successful bowlers for Demerara.In reply, the defending champions reached 85-2 in 20.2 overs, with Shoaib Shaw hitting an unbeaten 37.last_img read more