Japan Biofuels Supply sign MOU

Japan Biofuels Supply (JBS), a joint venture formed by 10 Japanese refiners, signed a memorandum of understanding with Brazilian ethanol producer Copersucar on July 2 to consider importing 200,000 kiloliters per year (kly) or 1.26 million barrels of ethanol starting from fiscal year April 2010 up to March 2011, a JBS official said. The two organizations will now discuss the terms of a full sales and purchase agreement for the ethanol, the official said. If the purchase agreement is signed, JBS would transfer the ethanol to Lyondell Chemicals plants in the U.S. for use in the production of up to 700,000 kly of ethyl tertiary butyl ether (ETBE), which would then be shipped to Japan, the official added. (July 4, 2008)