TN PETRÓLEO
HOME - ABOUT US - NEWSLETTER - CONTACT US - LINKS
Source: Petrobras
Date: 05/28/2007 00:00
Petrobras and Algerian national oil company Sonatrach, the African continent`s biggest and ranked 12th in the world according to PIW (Petroleum Intelligence Weekly), signed a Memorandum of Understandings (MOU) this Saturday (26/05) to study, among others projects, a possible cooperation in Liquefied Natural Gas (LNG) to supply the import terminals that Petrobras is deploying in Pacém (CE) and in the Guanabara Bay (RJ). Signed in Algeria, the agreement also foresees exploration and production cooperation studies both for onshore and, especially, offshore blocks in Brazil, Algeria, and in other countries of mutual interest.
Petrobras and Sonatrach already have a long standing commercial relationship that involves, by and large, oil, naphtha and LPG. With the MOU, workgroups will be created and meet periodically to discuss cooperation opportunities. Other issues the companies will evaluate include increasing and developing new commercial operations for oil and oil derivatives, petrochemical and downstream opportunities, in addition to Petrobras` participation in the Algerian Petroleum Institute (API).
Petrobras and Sonatrach also signed an LNG Master Supply Agreement that outlines the general clauses that determine the bases the two companies will comply with for possible LNG purchase and sales.
Petrobras` president, José Sergio Gabrielli de Azevedo, and Sonatrach`s president and general director, Mohamed Meziane, signed the MOU. The Master Agreement, meanwhile, was signed by Petrobras` Gas & Energy director, Ildo Sauer, and Sonatrach`s Vice-Executive President, Chawki Rahal. The Brazilian and Algerian governments support the companies` partnership. Algeria`s Minister of Mines & Energy, Chakib Khelil, and Brazil`s ambassador to Algeria, Sérgio Danese, also attended the agreement signing ceremony.

