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Brazil's Petrobras starts process to sell stake in Argentina unit Mega

Brazilian state-owned oil giant Petroleo Brasileiro SA has begun the so-called non-binding phase of the process to sell its 34% stake in Argentina’s Compañia Mega SA, it said in a securities filing.

In the filing, Petrobras, as the firm is commonly known, said Mega operates a plant with capacity to produce more than 40 million cubic meters of natural gas per day.

Petrobras first announced its intention to sell the stake in May, and the sale is part of its ongoing divestment program. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)


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FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
The continued expansion of natural gas trade is led primarily by growth in the LNG sector, which has tripled over the past 3 yr.
Industry Focus: The future of gas-to-power projects in Africa
-Shem Oirere
Natural gas is expected to play a central role in supporting Africa’s drive to achieve electricity connection for nearly 600 MM people without access to the grid, to reduce widespread reliance on coal for power generation, and to fast-track the continent’s slowed industrial expansion.
Regional Focus: Gazprom faces challenges for combined LNG/processing plant in Baltics
-Eugene Gerden
Russia’s largest natural gas producer, Gazprom, aims to build a giant project on the Russian Baltic seaport of Ust-Luga. The plans include the construction of a combined LNG and gas processing plant.


Environmental Considerations for Gas Pipeline Construction in Sensitive Areas

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September 11, 2019 10:00 AM CDT

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