LNG: Petrobras and PDVSA signed agreements of principal for supply agreements
Petrobras and PDVSA in LNG deal
Brazil’s Petrobras and Venezuela’s PDVSA signed agreements of principles in which they commit to negotiate the commercial terms for the purchase and sale of liquefied natural gas to be supplied by PDVSA.
The agreements set the negotiation basis between the two companies for future LNG supply agreements.
Petrobras said the product will be supplied by two liquefaction units, Tren 1 and Tren 2 that will be built in the Complejo Industrial Gran Mariscal de Ayacuchho in Venezuela.
Petrobras and PDVSA also made progress in the definition of the shareholder agreement and of the articles of incorporation for the company that will be formed to build and operate the Abreu e Lima refinery in the state of Pernambuco, Brazil.
Petrobras also announced it will participate, in equal conditions with the other competitors, in the bid PDVSA will hold for the exploration of the Carabobo 1 Block.
The agreement was signed in Caracas, Venezuela on 27 June during a bilateral meeting held between the governments of the two countries.