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International Herald Tribune: Brazil’s Petrobras signs deal with Shell for gas supplies

The Associated Press
Published: March 11, 2008

RIO DE JANEIRO, Brazil: Royal Dutch Shell PLC has signed a deal to supply liquefied natural gas to Brazil’s government-run oil giant Petrobras, the companies said in a joint statement Tuesday.

The gas will meet part of Petrobras’ import needs to fuel thermoelectric plants in Brazil, the companies said.

Shell will provide part of the liquefied natural gas to two offshore regasification terminals off the coast of northeastern Ceara state and near Rio de Janeiro.

Petroleo Brasileiro SA needs “firm shipments of LNG to complement the Brazilian demand for natural gas,” said Gas and Energy director Maria das Gracas Silva Foster.

The company expects to have the terminals on line this year, with a joint capacity to regasify 21 million cubic meters of liquefied natual gas a day.

http://www.iht.com/articles/ap/2008/03/11/business/LA-FIN-Brazil-Petrobras-Shell.php

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