(source)Brazil'S Petrobras: $1B China Gas Pipeline Deal Near

RIO DE JANEIRO (Dow Jones)--Brazil's state-controlled oil company Petrobras SA (PBR) said Friday it was close to signing a deal with the Chinese Export and Import Bank and the China Petroleum and Chemical Corp., or Sinopec, for the construction of a gas pipeline linking northeastern and southeastern Brazil. The deal to build the pipeline, dubbed Gasene in Brazil, involves more than $1 billion that would be financed by the Chinese Exim Bank, said Sergio Gabrielli, Petrobras' director for finance and market relations. "We will probably sign the deal with the Chinese for Gasene in the late afternoon today (Friday)," Gabrielli said. Petrobras President Jose Eduardo Dutra was in Brasilia Friday to accompany a large delegation of 150 Chinese businessmen accompanying Chinese President Hu Jintao on a visit to Brazil.

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