27 May 2007 - 15:02
  • News Code: 105692

Algeria is to deliver liquified natural gas to Brazil under an accord signed Saturday between the state-run Sonatrach and Brazil"s Petrobas.

A Sonatrach statement, which did not specify the quantity or price of the gas, said the agreement would allow Algeria to diversify its liquified natural gas sales "notably in the Atlantic basin."



The accord was signed by Sonatrach chief Mohamed Meziane and his Brazilian counterpart, Sergio Gabrieli. Delivery is to be made via two floating terminals, one in Guanabara in the Rio de Janeiro region and another in Pecem, in Ceara state, the statement said.



The two companies also signed a memorandum of understanding covering development, exploration and commercialization in the two countries, said Energy Minister Chakib Khelil, present at the signing ceremony.



He noted that Petrobas has imporant offshore experience that Algeria can profit from.



Algeria was Brazil"s second commercial partner in Africa in 2005, the last year for which figures are available.



OPEC member Algeria is a leading producer of liquified natural gas.



News Code 105692

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