Brazil's state-owned energy major Petrobras is considering new projects in Peru and Uruguay and following the anticipated discovery of a natural gas reserve in Peru, could be set to install a re-gasification plant in the country, according to the inklings of top company officials.

Speaking to reporters, Nestor Cervero, chief of Petrobras' international operations, indicated the company might team up with Brazilian petrochemicals company Braskem to set up natural gas plant in southern Peru, Spain's EFE news agency reported recently.

“The Peruvian government has expressed its intention to install an industrial centre in one of the poorest regions of Peru with the objective of accelerating development of the area,” he said.

Cervero also noted that Petrobras expected to announce soon the discovery of an important natural gas reserve in Peru. Another Petrobras executive, Paulo Roberto Costa, is reported to have said that the company, which already owns the main natural gas distribution network in Uruguay, plans to install a re-gasification plant in the neighbouring country.

“It's a plant to re-gasify liquefied gas that we will import from other countries and with which we can supply both Uruguay and Argentina,” Costa said.

It was also noted that the predicted Uruguay plant would follow the model of 2 facilities Petrobras is currently setting up in Brazil, to re-gasify LNG imported from Africa and the Middle East. Additionally, while eyeing new investments in Peru and Uruguay, Petrobras is reportedly ready to sharply reduce its involvement in oil-rich Venezuela, Cervero added.