BNamericas reported that Brazil's federal energy company Petrobras has officially launched operations in Chile on August 4th 2009 in a ceremony attended by Chile's energy minister Mr Marcelo Tokman and Mr Vilson Reichemback GM for Petrobras Chile.
As per report, Petrobras will operate 230 service stations and 6 fuel distribution terminals to take a 16% of market share of Chile's fuel distribution business. It is expected to invest USD 500 million in Chile.
Mr Tokman said that Petrobras' entrance into the Chilean market would help the country advance its goal of diversifying its energy matrix and aid the struggle against climate change through the introduction of renewable energy sources.
Mr Reichemback said that "Plans are already in place to import ethanol." He added that the company was working with Chile's state oil company Enap on other biofuel programs.
Meanwhile, Petrobras is interested in purchasing LNG to be used for vehicular natural gas from two LNG plants being set up in Chile by the GNL Quintero and GNL Mejillones consortiums.
Chile's first LNG regasification plant located in region V is expected to start up towards the end of August 2009. BG has a 40% stake in the GNL Quintero consortium, while Chilean generator Endesa, Enap and local gas distributor Metrogas each have 20%.
