Petrobras and BG Group Sign LNG Supply Agreements

Source: www.gulfoilandgas.com 6/2/2008, Location: South America

Petrobras and BG Group signed two Liquefied Natural Gas (LNG) supply agreements to meet the demand of the LNG import terminals which Petrobras is deploying in Pecem (CE) and in the Guanabara Bay (RJ). The agreement foresees the delivery of a load to commission the Pacem Terminal next July. This will be the first load of LNG the country will receive and it will inaugurate Petrobras’ operations as an agent in the international liquefied natural gas market.

The other agreement calls for flexible LNG load deliveries in order to allow Petrobras to define, for each load, which terminal the product will be delivered to. The agreement also allows LNG supplies to be adjusted to the Brazilian market demand.

This contractual arrangement confirms Petrobras’ strategy of establishing LNG supply agreements that ally delivery guarantee to flexibility. The goal is to keep offer flexible, in line with the flexible demand, a marking characteristic of the Brazilian market.


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