Petrobras and Suez sign LNG deal

Nov 09, 2007 01:00 AM

Brazil's state-run oil firm Petroleo Brasileiro, or Petrobras, and Suez Global LNG, a unit of French energy firm Suez, signed a general agreement on the sale of liquefied natural gas, or LNG on Nov. 5, Suez said.
The deal will facilitate future LNG sales to Brazil and puts down a framework for the main supply conditions. Price and volumes still haven't been fixed.

Petrobras plans to have two terminals to re-gasify LNG in place on the Brazilian coast to start operating in May 2008. The terminals will have a joint capacity to re-gasify up to 20 mm cm of LNG.
Suez said it is one of the main LNG importers in the US and Europe, and operates re-gasification terminals in Boston and Zeebrugge, Belgium.

Source: Dow Jones & Company
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