Braskem, Petrobras, PetroPeru in PE tie-up

19 May 2008 10:47  [Source: ICIS news]

LONDON (ICIS news)--Brazilian companies Braskem and Petrobras have signed an agreement with PetroPeru to study the feasibility of an integrated polyethylene (PE) project in Peru, the companies said in a joint statement.


The proposed complex would have the capacity to produce between 700,000 and 1.2m tonnes/year of PE, based on Peru’s ethane-rich natural gas, they stated over the weekend.


Under the agreement, signed on 17 May, the companies would evaluate the technical and economical feasibility of the project, they said.


Polyolefins producer Braskem said the project was an important part of its growth strategy, which combined a programme of internationalisation with access to competitive feedstock.


Petrobras, Brazil’s state-owned energy group, already has a presence in Peru, and announced in January, with partners, a gas discovery in Block 57, in Cuzco province.


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By: Anna Jagger
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