Petrobras concludes negotiations with TSB for pipeline construction

Sep 03, 2001 02:00 AM

Brazilian government oil and gas company Petrobras has concluded the negotiations with TSB (Transportadora Sulbrasileira de Gas) for the construction of a pipeline connecting Uruguaiana to Porto Alegre. The work will start in September 2001, and the expectation is to be concluded in 2003. TSB is teamed by Gaspetro, TotalFinaElf, Ipiranga, Tecgas-Techint, and Repsol-YPF, and will invest $ 340 mm to develop the project.

The company expects BNDES (Banco Nacional de Desenvolvimento e Social) and foreign institutions to finance 70 % of the project. The facility will be able to transport 12 cm of gas daily from Argentina.

Source: Gazeta Mercantil/SABI via Newspage
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