Brazilian gas demand in 2007 to be less than forecast

Brazilian state-owned oil company Petroleo Brasileiro SA (Petrobras) has forecast that Brazil's demand for natural gas will be 35% lower by 2007.Brazil's demand had been forecast by Petrobras's strategic planning department as 48.8 million cu m/day of natural gas by 2007. And demand was seen at 75 million cu m/day of gas when Brazil kicked off its thermal-power generation program.However, Petrobras has incurred losses from investments in thermal generation, which never quite paid off because natural gas to fuel thermal plants is too costly, and the Brazil-Bolivia gas pipeline is underdeveloped, Petrobras experts pointed out.Petrobras said it invested about $500 million to expl...

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