TBG to Invest US$65mn in B2B Pipeline 2006-07
TBG, the Brazilian operator of the 3,000km Bolivia-Brazil gas pipeline B2B, plans to invest US$65mn through the end of 2007, a company spokesperson told BNamericas, confirming local press reports.
The money will go to improve the system and increase compression in the pipeline's southern stretch, the spokesperson said.
The pipeline has 30Mm3/d capacity, although in the southern stretch capacity is only 2.2Mm3/d because of declining compression.
TBG has scrapped plan for a US$800mn, 11Mm3/d expansion in response to Bolivia's nationalization of its hydrocarbons assets, CEO Ricardo Salomao told Valor Economico newspaper.
TBG is made up of Brazil's federal energy company Petrobras (NYSE: PBR) with 51%, the UK's BG Group (NYSE: BRG) with 29%, Bolivian transport company Transredes with 12%, Anglo-Dutch oil company Shell (NYSE: RDS-B) with 4% and US energy company Prisma Energy with 4%.
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Operates 34 Offshore Rigs
Manages 10 Offshore Rigs
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