Business Services Industry
El Paso bets on natural gas growth.
South American Business Information, December, 2003
Brazil, Dec 8, 2003 (Gazeta Mercantil/SABI via COMTEX)
According to El Paso, the possible expansion in the consumption of natural gas in Brazil will boost the demand for equipment, involving from the exploitation fields to the distribution. The energy company aims to acquire two offshore platforms to explore natural gas in Brazil, besides acquiring equipment to the onshore exploitation in places as Urucu. The company aims to start up in Bacia de Santos basin (Rio de Janeiro) as of June 2005, with an initial volume of 1mil to 1.5mil m 3 of natural gas per day. The project might demand investments of US$36.9mil. According to Brazilian association Abegas (Associacao Brasileira das Empresas Distribuidoras de Gas Canalizado), there should be invested nearly US$2bil...
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