Brazil Gas Reserves May Be 3 Times Larger Than Stated

Brazil’s state-owned oil company said Thursday that the country’s natural gas reserves could be three times larger than officially stated.

Ildo Sauer, Petrobras’ director of gas and energy, said new discoveries suggested the country had gigantic natural gas reserves which should leave it well prepared amid a growing demand for the fuel.

Brazil officially has 320 billion cubic meters of natural gas.

“If we count on the new discoveries, we could arrive at something between 850 billion and one trillion cubic meters,” Sauer said before the 11th Brazilian Energy Congress. “These discoveries haven’t yet been made public because they haven’t been declared to the National Agency for Petroleum, Natural Gas and Biofuels.”

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