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Petrobras, Equinor look to join efforts on natural gas projects

Petróleo Brasileiro SA, or Petrobras, and Equinor ASA signed a memorandum of understanding for the joint development of natural gas projects.

The memorandum includes the goal of maximizing value in the downstream operations of both companies through natural gas thermoelectric generation projects, including feasibility studies related to Petrobras' gas processing assets and pipelines in the Cabiúnas terminal in Macaé and the Rio de Janeiro petrochemical complex in Itaboraí, according to an Oct. 10 news release from Petrobras.

Petrobras is currently building a natural gas processing plant in the Rio de Janeiro petrochemical complex.

The Brazilian-state controlled company said Macaé and Itaboraí have the potential to become natural gas hubs in the coming years.