Petrobras to invest $10.6 bn in gas and energy

Published: 12-Feb-2009

By: Staff Writer Staff Writer Staff Writer

Investments to be made between 2009 and 2013

Brazilian integrated energy company Petrobras has announced an investment of $10.6 billion in the gas and energy segment in its 2009-2013 business plan, a 70% increase compared to $6.2 billion in the 2008-2012 business plan.

Of the total planned for investment between 2009 and 2013, $5.2 billion will be in new projects, while $5.4 billion will be invested in projects already in progress.

Of the investments laid out in the 2009-2013 business plan, $8.2 billion will be allocated to completing the Southern and Northeastern network expansion construction work and to building new liquefied natural gas (LNG) terminals, while $2.4 billion will be invested in building thermoelectric plants and small hydroelectric plants and in participation in new electric energy businesses, including eolian plants.

According to the company, for 2013, Petrobras’ goal is to supply a demand of 135 million cubic meters per day of natural gas. This volume will be distributed as follows: 49 million cubic meters per day for the thermoelectric market; 41 million cubic meters per day for the industrial sector; and 45 million cubic meters per day for other areas (vehicle, residential, commercial, and for internal Downstream area consumption).

The company said that, in 2008, the total natural gas consumption was 58 million cubic meters per day. From 2009 to 2013, the domestic natural gas production is slated to surge from 32 million cubic meters per day to 73 million cubic meters per day.

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