Oil & Gas – Brazil – Petrobras set to launch operations at national integrated gas pipeline
28 Mar
Posted by Brian Anderson as Finance Help
Brazilian hydrocarbons regulator ANP has authorized federal energy group Petrobras (NYSE: PBR) to start operations at its Gasene gas pipeline that connects the country’s northeastern and southeastern regions, Petrobras project executive Marcelo Restum said at a press conference.
“We also received this week [Brazilian environment regulator] Ibama’s operation license for the pipeline,” the executive added.
The Gasene pipeline will be inaugurated by Brazilian President Luiz Inácio Lula da Silva on March 26.
The 1,387km pipeline starts in Rio de Janeiro and finishes in the northeastern state of Bahia.
Petrobras invested 7.2bn reais (US$3.97bn) in the project, which has a transport capacity of 20Mm3/d, according to Restum.
“Petrobras has invested 29.6bn reais in gas pipeline projects from 2003 to now. It shows how bullish the company is in regards to the Brazilian natural gas market,” Petrobras gas and energy manager Antonio Castro told journalists in Ilhéus.
Gasene was constructed by China’s Sinopec and is part of the Brazilian federal government acceleration growth program PAC.
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