SAO PAULO: At least three consortia, led by France’s Engie, Australia’s Macquarie Group and the UAE’s sovereign wealth fund Mubadala Development, delivered proposals for a Brazilian gas pipeline network owned by state oil company Petrobras, three people with knowledge of the matter said.
Friday was the final day for the delivery of proposals, in the first phase of the process to acquire a 90 percent stake in Transportadora Associada de Gás, the Petrobras unit known as TAG, which owns 4,500 kilometers of pipelines in northeast Brazil.
The sale of TAG is part of a plan by Petrobras, as Petróleo Brasileiro is known, to raise $21 billion (SR78.75 billion) from asset sales this year and next in order to reduce its $95 billion debt load — the largest among oil majors.
TAG’s sale is expected to be one of the largest Petrobras divestitures in the program. Reuters disclosed in October that 20 groups, which formed consortia because of the size of the deal, were interested in bidding.
The deal is expected to attract bids ranging from $5 billion to up to $7 billion, according to two of the sources.
Petrobras declined to comment on Tuesday on the bidders.
Engie, asked to confirm that it had delivered a bid, only said in an emailed reply that it is “interested in investments in assets in the gas sector and considers good opportunities in Brazil.”
Macquarie declined to comment while Mubadala did not immediately comment.
Macquarie, the world’s largest manager of infrastructure funds, has partnered with the Canada Pension Plan Investment Board, known as CPPIB, and Singapore’s sovereign wealth fund GIC, according to one of the sources. CPPIB also declined to comment, while GIC did not immediately comment.
Mubadala has partnered with EIG Global Energy Partners, according to one of the sources. EIG also did not immediately comment.
Brazilian investment firm Pátria Investimentos, which has a partnership with US buyout firm Blackstone Group LP , did not deliver a proposal, according to the people, who requested anonymity because the process is private.
Brazilian firms Cambuhy Investimentos Ltda, which manages investments of the billionaire family Moreira Salles, and Itaúsa Investimentos Itaú, a holding company with business interests spanning the banking, consumer goods and chemical industries in Brazil, also joined Macquarie’s group, according to the source.
The sources did not elaborate on the partners chosen by Engie.
Patria, Blackstone, Itaúsa and Cambuhy all declined to comment.
Petrobras sold another gas pipeline network in southeast Brazil last year, known as Nova Transportadora do Sudeste, to a group led by Canada’s Brookfield Asset Management, for $5.2 billion.
That left TAG with a network in the northeast known as Nova Transportadora do Nordeste, which is responsible for a smaller share of the country’s natural gas consumption.
Although it is now selling a smaller network, Petrobras expects a higher price due to better perspectives for economic growth after Brazil’s harshest recession in decades, according to two of the sources.
Petrobras raised $1.5 billion last week by selling about 29 percent of its fuel distribution unit, Petrobras Distribuidora, in an initial public offering.
This week, Petrobras announced the sale of a 25 percent stake in the offshore Roncador field to Norway’s Statoil for $2.9 billion.
Engie, Mubadala, Macquarie groups reportedly bidding for Petrobras pipelines
Engie, Mubadala, Macquarie groups reportedly bidding for Petrobras pipelines
Saudi Arabia reports surge in patent filings amid innovation drive
RIYADH: Saudi Arabia recorded a significant increase in the number of patent applications filed by individuals and national institutions during 2025, reflecting a growing awareness among innovators and national entities of the importance of protecting innovations and maximizing the value of intangible assets.
The Saudi Authority for Intellectual Property explained that patent applications filed by individuals witnessed substantial growth, rising from 2,007 submissions in 2024 to 3,942 in 2025, representing a growth rate of 96 percent. This indicates a broadening base of innovators and entrepreneurs, and a rising awareness of the importance of registering intellectual property rights, according to the Saudi Press Agency.
The authority also indicated that the number of patent applications filed by national institutions increased from 408 in 2024 to 734 in 2025, representing an 80 percent growth. This reflects the increasing interest of national entities in protecting their innovations and transforming them into valuable economic assets.
The entity further noted that this growth contributed to raising the total number of patent applications filed in 2025 to 10,300, compared to 8,029 in 2024. It affirmed its continued efforts to develop the intellectual property system, streamline registration procedures, and support innovation, in line with the objectives of the Kingdom’s Vision 2030.
Saudi Arabia has made notable progress in the 2025 Global Intellectual Property Index, with its score rising by 17.5 percent, placing it among the fastest-improving economies out of the 55 countries evaluated.
According to the 13th edition of the index, published by the US Chamber of Commerce in April, the Kingdom now ranks 40th globally, a reflection of the substantial reforms driven by its Vision 2030 strategy. These reforms aim to enhance intellectual property protection, foster innovation, and support the growth of a knowledge-based economy.
Since 2019, Saudi Arabia’s overall score has increased from 36.6 percent to 53.7 percent in 2025, marking a cumulative improvement of over 40 percent in just six years. This progress stems from a comprehensive transformation of the nation’s IP ecosystem, including the strengthening of legal frameworks and enforcement mechanisms.
These developments highlight Saudi Arabia’s growing institutional capacity and ongoing regulatory modernization, led by the SAIP.
