Brazil and China Sign Energy Cooperation Pact

    A memorandum of understanding to develop bilateral cooperation in the areas of petroleum, natural gas, renewable fuels, electricity, and mining was signed in Beijing by the Brazilian Minister of Mines and Energy, Dilma Rousseff, and the Chinese Ministry of Trade.

    The Brazilian and Chinese govenments can also define cooperation projects of mutual interest in these areas.

    The memorandum envisions the formation of a Mixed Working Group (GMT) within the ambit of the Sino-Brazilian Mixed Commission to execute the plans established in the agreement.


    The Commission is coordinated by the two Ministries, and the agreement is valid for ten years and renewable for identical terms.

    According to the Press Office of the Ministry of Mines and Energy, during Minister Rousseff’s visit to China Petrobras and the BNDES (National Economic and Social Development Bank) also signed memoranda of understandings with Sinopec, the Chinese state petrochemical company, and the China Exim Bank, the country’s export incentive bank. Sinopec is responsible for 57.8% of China’s total fuel supply.

    Petrobras and Sinopec will be in charge of designing, engineering, provisioning, and constructing the Gasene, a natural gas pipeline which will link the municipalities of Cabiúnas in the state of Rio de Janeiro and Catu, in Bahia, as well as gas compression stations which will be installed along the pipeline.


    The China Exim Bank will provide financial resources to execute the project, and the BNDES will be the borrower of these funds and the direct lender to the project.

    The gas pipeline will connect gas pipeline networks in the Brazilian Southeast to those of the Northeast, permitting available natural gas to be transferred from one region to another.


    The Gasene was chosen to kick off cooperation between Brazil and China in an agreement between Petrobras and Sinopec, signed soon after President Luiz Inácio Lula da Silva’s trip to China this May.

    Still another memorandum of understanding was signed between Eletrobrás and CITIC (China International Trust & Investment Corporation), a conglomerate of companies in the area of energy (except petroleum and gas), private banks, insurance companies, investment firms, and fund management outfits.


    The document mentions reinforcing the generating capacity of systems owned by Eletrobrás.

    Agência Brasil

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    China and US’s Growth Should Boost Brazil’s Exports

    The growth of some of the main world markets may benefit Brazilian exports this ...

    Fred Stole a Goal for Brazil But Couldn’t Steal the Match’s Ball

    Twenty-two-year-old Brazilian striker Fred netted his first World Cup goal on Sunday less than ...

    Short Takes Brazilian music releases in the US

    Jorge da Silva For many fans here in the US, the term next Brazilian ...

    3M in Brazil

    Brazil Exports Grow 16%, Way Over World’s Average, But Still 1% of Global Trade

    Brazilian exports expansion coupled with the growth in exports caused by the depreciation of ...

    Song of Jilted Love

    Waiter By Rodolfo Espinoza A composer, who for more than three decades has been ...

    Brasília 50 years

    Brasília Celebrates 50th Birthday Under Cloud of Scandal

    Rogério Rosso, from the PMDB party, who served Brazil Federal District’s administration as the ...

    Brazil Is Voting for President, Governors and Congress This Year

    2006 is being ushered in with the prospect of this year’s elections for president, ...

    Japan Might Import 6 Billion Liters of Ethanol a Year from Brazil

    Petrobras, Brazil’s state-run oil giant, reports it is studying the possibility of exporting sugarcane-based ...

    Cell Phones and TV Sets Spur Brazilian Industry

    The 3.1% increase of the Brazilian industrial production in 2005, compared to 2004, was ...

    Brazil's Ethanol Summit

    Brazil Urges the US to Close Gap Between Rhetoric and Policy on Ethanol

    Today marks the last day of Brazil’s 2009 Ethanol Summit being held in São ...