3rd Jun 2008 07:00
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News Release |
3 June 2008
BG Group and Petrobras Sign Liquefied Natural Gas Supply Agreements
BG Group plc (BG) and Petroleo Brasileiro S.A. (Petrobras) have signed two liquefied natural gas (LNG) agreements. Under the agreements BG Group will supply the import terminals being built by Petrobras in Pecem (State of Ceara) and in Guanabara Bay (State of Rio de Janeiro).
The first agreement represents the beginning of Petrobras as a buyer of LNG in the international market. This agreement will provide the first LNG cargo ever to be delivered into Brazil and it will be used for the commissioning of the Pecem terminal in July 2008.
The second agreement will enable LNG to be supplied to either the Pecem or Guanabara terminals in Brazil. Petrobras will define, load-by-load, which terminal the LNG will be delivered to. This will be dependent on the natural gas demand in the local markets.
The execution of both agreements is consistent with Petrobras' strategy to establish a flexible, firm LNG supply that is based on the demand of the Brazilian market.
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There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to the Company's annual report and accounts for the year ended 31 December 2007. The Company does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
Notes to Editors:
BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with an excellent track record in finding and commercialising reserves.
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