Petrobras, Gazprom sign MoU

Offshore staff

RIO DE JANEIRO, Brazil -- Petrobras and Russia's Gazprom, the world's biggest gas company, have signed a memorandum of understanding to identify cooperation opportunities for oil and gas projects. The meeting took place
Friday, Feb. 23, at Petrobras' main office.

Three potential initiatives include cooperation possibilities in LNG, natural gas storage, and natural gas transportation system projects.

Although the activity schedule will extend through next year, Petrobras and
Gazprom expect to materialize actual partnerships, particularly in the LNG area, in 2007.

This is the third meeting held between the companies.


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