Paper: Gazprom Potential Partner for Continental Pipeline


Brazil's federal energy company Petrobras (NYSE: PBR) considers Russian gas company Gazprom a good candidate to help build the natural gas pipeline supported by Brazil, Venezuela and Argentina, Spanish news agency EFE reported.

Petrobras is in talks with Russian oil and gas companies, a Petrobras spokesperson told BNamericas. The company would not say which specific projects are under discussion.

"The company CEO said Gazprom's track record in the construction of long-distance gas pipelines was interesting," the spokesperson said of Petrobras CEO Jose Gabrielli.

Brazil is one participant in the multilateral project to build a 8,000km natural gas pipeline that would start in Venezuela, cross Brazil and end in countries further south such as Paraguay, Uruguay and Argentina.

Brazil, Argentina and Venezuela already are committed to studying the project that has an estimated construction cost of US$25bn.

Talks are in "initial stages," EFE reported, citing Petrobras investor relations executive Raul Campos as saying.

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