Agência CNI*
Brasília – Brazilian oil company Petrobras intends to invest US$ 18 billion in the gas sector over the next four years. Most of the investment will take place in 2008. With this, the gas production that totalled 27.5 million cubic metres last year should reach 70 million cubic metres by 2011. This statement was made yesterday (13) by Petrobras president José Sérgio Gabrielli, during seminar Natural Gas: Regulator and Investment Attraction, promoted by the National Confederation of Industries (CNI), in Brazilian capital Brasília.
"We will expand the grid of gas pipelines to 8,500 kilometres by 2010," stated Gabrielli, adding that the investment is part of the Plan for Anticipation of Gas Production (Plangás), being developed in partnership with the federal government to expand production of natural gas in Brazil. The president pointed out, however, that the Brazilian autonomy depends on heavy investment. "The gas industry requires great investment. It is not possible to consider the production chain without great investment and long-term return," he said.
*Translated by Mark Ament
