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UpstreamOnline: Petrobras signs LNG deal with Shell

By Upstream staff

Brazil’s federally-controlled Petrobras said today that it signed an agreement with Shell for liquefied natural gas supplies for two regasification sites in the South American nation.

Petrobras said the supplies would be used for two LNG regasification terminals that will be installed off of Rio de Janeiro and the northeastern Ceara state.

Reuters said that the agreement does not specify volumes or price, but that it is similar to deals signed earlier with a range of other companies, including Suez Global LNG.

Reuters also said that the first 7-million-cubic-meters-per-day regasification terminal at Ceara should be completed by the end of June.

Petrobras said it will define, load-by-load, which terminal the LNG will be delivered to.

“To Petrobras, this partnership with Shell is very important. This agreement also shows the efforts Petrobras has undertaken to acquire firm LNG loads to complement Brazil’s demand for natural gas,” said Maria das Gracas Silva Foster, Petrobras’ director for Gas & Energy.

Brazil needs the gas to help offset dwindling supplies from neighboring Bolivia.
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11 March 2008 21:20 GMT  | last updated: 11 March 2008 21:20 GMT

http://www.upstreamonline.com/live/article150440.ece

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