The state government of Rio Grande do Sul has completed transfer of 51% stake in Sulgas to Compass Gas and Energy. The transaction is valued at BRL927.80 million (US$163.28 million). Remaining 49% stake in Sulgas is being held by Petrobras. Compass won the privatization auction in October 2021.

Sulgas is an gas trading and distribution company operating gas line network in Brazillian state Rio Grande do Sul. It provides services to inhabitants of 42 municipalities in the State.