Energy Council: LNG Import Program Urgent Priority

Brazil's national energy policy council CNPE has declared the government's LNG import program an urgent priority, CNPE said in a resolution published in the government's daily ledger.

CNPE will oversee the project as part of a broader directive to guarantee supply of natural gas from various sources in coming years.

CNPE said the mines and energy ministry is authorized to take necessary measures and work with other government agencies to reduce the project time frame.

Brazil's federal energy company Petrobras (NYSE: PBR) has announced a US$17.9bn program to increase natural gas supply to 70Mm3/d a day by 2011 from current output of 27.5Mm3/d.

The program includes Plangás, which is designed to increase E&P projects in the Espírito Santo and Santos basins and create two re-gasification terminals with capacity to import 20Mm3/d of LNG.

Petrobras said the program would guarantee an increase in local production and start of LNG imports in 2009.

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