Brazilian state-controlled oil company Petrobras and Algerian state-owned Sonatrach, signed on Saturday, May 26, a memorandum of understanding. The document envisages the study, among other projects, of cooperation for the Brazilian import of liquefied natural gas (LNG). This information was disclosed by a Petrobras spokesperson.
Sonatrach is the largest oil company on the African continent and the 12th largest in the world, according to Petroleum Intelligence Weekly (PIW).
Algerian gas, according to the Petrobras statement, would be used in terminals that the company is implementing in Pecém Port, in the northeastern Brazilian state of Ceará, and in Guanabara Bay, in the southeastern state of Rio de Janeiro.
The agreement, signed in Algeria, also foresees studies in the area of exploration and production on onshore, and especially offshore, blocks in Brazil, Algeria and in some countries of common interest.
Petrobras and Sonatrach also established a Master Agreement contract for the LNG supply, with general clauses that establish the guidelines for both countries for a possible future sale and purchase of LNG.
The agreement was signed by Petrobras president José Sergio Gabrielli de Azevedo, and by the director general of Sonatrach, Mohamed Meziane. The Master Agreement was signed by the Petrobras Gas and Energy director, Ildo Sauer, and by the executive vice president at Sonatrach, Chawki Rahal.