Sojitz to sell Brazilian biofuel in Japan, Europe

Japanese trading house Sojitz Corp. said that it has signed a long-term contract with Braskem SA, a major Brazilian petrochemical firm, to sell biofuel in Japan and Europe. Sojitz will procure ethyl tertiary butyl ether, or ETBE, a type of biofuel made by blending sugarcane-based ethanol and isobutylene, from São Paulo-based Braskem for sale starting in 2009. Anticipating higher demand to cope with climate change, the company aims to supply 150,000 kiloliters of ETBE in 2010. (December 24, 2008)