facebook
twitter
rss
account
search
search
 

Brazil reviews Amazonian natural gas

Oct. 24, 2012 at 7:48 AM   |   Comments

RIO DE JANEIRO, Oct. 24 (UPI) -- An energy company eyeing natural gas in the Amazon rainforest said it aims to share a natural gas pipeline with Petrobras to help monetize the project.

Executives from Brazilian energy company HRT, TNK-Brazil and state-run energy company Petroleo Brasileiro, or Petrobras, signed a letter of intent last week for natural gas work in the Solimoes Basin.

The Brazilian National Agency of Petroleum said the region holds an estimated 2.4 billion barrels of oil equivalent in proven reserves.

HRT, in a statement to Bloomberg News, said it may share a natural gas pipeline with Petrobras and build fertilizer and power plants to help make money from regional gas deposits.

"The objective is to optimize investments and logistics for all," HRT Chief Financial Officer Carlos Tersandro Adeodato said in the statement.

Petrobras operates the only natural gas pipeline in the area. The company has been working to extract oil in the region since the 1990s.

During the summer, HRT announced a discovery of natural gas in the region was an important step on the way to developing gas in the Amazon region.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
U.S. Air Force orders more RQ-4 Global Hawks U.S. Air Force orders more RQ-4 Global Hawks
2
Talon rocket in full-rate production for UAE Talon rocket in full-rate production for UAE
3
Students hurt in high school lab fire Students hurt in high school lab fire
4
EU, Kiev, Moscow gas talks suspended EU, Kiev, Moscow gas talks suspended
5
Chevron gas line closed after accident Chevron gas line closed after accident
Trending News
Video
x
Feedback