Brazil inks deal with China on gas
RIO DE JANEIRO
Brazilian gas company Petrobras signed a deal Monday with Chinese state-run oil company Sinopec to build a pipeline running into Brazil's northeast.
The gas line reportedly will be able to carry more than 700 million cubic feet of gas per day to Brazil's most impoverished region, reducing the country's dependency on neighboring Bolivia, Agencia Estado news agency reported.
Bolivia's new president, socialist labor activist Evo Morales, is planning a significant price hike for gas export to Brazil, prompting Brasilia to improve gas production and distribution at home.
Brazilian gas company Petrobras signed a deal Monday with Chinese state-run oil company Sinopec to build a pipeline running into Brazil's northeast.
The gas line reportedly will be able to carry more than 700 million cubic feet of gas per day to Brazil's most impoverished region, reducing the country's dependency on neighboring Bolivia, Agencia Estado news agency reported.
Bolivia's new president, socialist labor activist Evo Morales, is planning a significant price hike for gas export to Brazil, prompting Brasilia to improve gas production and distribution at home.
posted by Alice at
Monday, April 17, 2006
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