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.

Archive »Archive »

Cove Point LNG Export Project Approved

The Federal Energy Regulatory Commission (FERC) has authorized Dominion to convert its Cove Point, Maryland, liquefied natural gas (LNG) import terminal on the Chesapeake Bay into a 5.75 million Tpy export facility.

GE Launches NovaLT16 Gas Turbine

GE has launched its 16.5 MW gas turbine (NovaLT16) for compression and power generation applications in the oil and gas industry.

Belgium Refinery Orders GE Compressors

GE Oil & Gas will provide a variety of compressors for an off-gas expansion project as part of Total’s US$1.3 billion expansion of its Antwerp, Belgium, refinery complex.

Siemens acquiring Dresser-Rand

Siemens is acquiring Dresser-Rand for US$7.6 billion, filling out its portfolio of compressors, steam turbines, gas turbines and engines.

Siemens, Sulzer Vie For Dresser-Rand

Financial publications have reported that Siemens and Sulzer are in competition to acquire compressor and turbine manufacturer Dresser-Rand.