Brazil LNG terminal ready next month

http://www.upstreamonline.com/live/article167999.ece

By Guilherme Monsanto

Brazilian oil giant Petrobras plans to finish work on its second LNG regasification terminal in Rio de Janeiro in January.

Petrobras’ gas and energy director Maria das Gracas Foster said that the company is ahead of schedule in the plant construction, and commissioning and assembly will be concluded in January, before the previous June deadline.

“The conclusion of the second LNG regasification plant is important because it gives flexibility in terms of power supply alternatives,” Foster said.

The first LNG regasification terminal in Pecem, in Ceara state, is going through final commissioning tests, according to the director.

“Pecem is entirely built and ready and commissioning is in the final stages. We haven’t used it so far due to economic purposes. The energy price in the spot market is low,” Foster said.

LNG in Brazil will be used exclusively to fuel natural gas thermo plants, which offer more expensive energy than hydro power plants.

Foster said that Petrobras will not reduce investments in LNG or in other gas and energy projects.

“I have known Petrobras for 30 years. The company always wants more and more. In this time, we never had investment cuts,” Foster said.

Wednesday, 10 December, 2008, 18:56 GMT | last updated: Thursday, 11 December, 2008, 08:00 GMT

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