Edit ModuleShow Tags

Brazil Petrobras Establishes Natural Gas Joint Venture


Published:

Brazil's Petrobras has signed a deal with Praxair Inc. subsidiary White Martins to form a natural gas company. Petroleo Brasileiro, as Petrobras is formally known, will have a 40% stake in the new company, to be based in Sao Paulo state. White Martins will have a controlling 60% stake in the venture.

Under the terms of the agreement, White Martins will be responsible for building the new $38 million factory, scheduled to be completed in the second half of 2005. Petrobras, which discovered massive reserves of natural gas off the coast of Sao Paulo last year, will supply the gas. The factory will have the capacity to liquefy 380,000 m3/d. It will seek to serve industrial clients in the states of Sao Paulo, Parana, Goias and Brasilia – areas currently without access to gas pipelines.

Edit ModuleShow Tags

Archive »Recent Articles

Voith Turbo Opens New Houston Headquarters

Voith Turbo, a specialist for intelligent drive systems and products in the oil and gas sector, opened its new Houston, Texas headquarters for the Power, Oil & Gas Division for its Americas region.

Wood Group Acquires Beta Machinery Analysis

Wood Group has acquired Beta Machinery Analysis, a Calgary-based engineering consultancy specializing in advanced vibration analysis, in a US$14.3 million deal.

Siemens Gets EU Approval On Dresser-Rand Acquisition

The EU Commission has approved Siemens’ acquisition of Dresser-Rand. Siemens plans to close the US$7.8 billion transaction by the end of June.

EIA: Natural Gas Prices Drop Across The Country

Natural gas prices declined in all market locations across the country during the June 17 to June 24 reporting week, according to the U.S. Energy Information Administration.

Pump Summit Americas Issues Call For Papers