India and Brazil to enhance cooperation in energy sector
India and Brazil have announced plans to strengthen cooperation in the energy sector, particularly in biofuels and Sustainable Aviation Fuel (SAF). During India’s Petroleum Minister Hardeep Puri’s visit to Brazil, the nations discussed sharing regulatory frameworks and fostering investments in SAF production. This collaboration supports global energy transition efforts and aims to expand Indian investments in Brazil’s oil and gas sector.
India and Brazil, in a joint statement, have revealed plans to bolster cooperation in the energy sector, with a focus on biofuels and SAF.
The collaboration aims to share regulatory and policy experiences to foster investment in SAF production.
The partnership was highlighted during the official visit of India’s Minister of Petroleum & Natural Gas, Hardeep Puri, to Brazil from 19 to 21 September, at the invitation of Brazil’s Minister of Mines & Energy, Alexandre Silveira.
Puri, accompanied by representatives from Indian oil and gas companies, discussed the ongoing energy sector collaboration with Brazilian counterparts.
This includes Indian upstream investments, a mutually beneficial trade relationship and cooperation in sustainable fuels, specifically biofuels.
As per the announcement, the oil and gas sector has seen significant Indian investment in Brazil, making it one of the largest destinations for Indian oil and gas companies globally.
The two nations aim to increase the presence of Indian companies in Brazil, including exploring new investment opportunities in producing assets.
They are also seeking mechanisms to enhance bilateral trade.
As founding members of the Global Biofuels Alliance, India and Brazil view the Alliance’s role in promoting biofuels as a vital element of the global energy transition, contributing to environmental sustainability and socioeconomic growth.
The collaboration extends to deep and ultra-deep explorations in Indian offshore acreages.
India and Brazil, both leading biofuel producers, are poised to collaborate on the production and use of SAF.
They plan to leverage their existing ethanol and biodiesel production infrastructure, growing aviation markets and vast feedstock potential, including agricultural resources.
The discussion acknowledged that while SAF is currently the most mature and viable option for decarbonising the aviation sector, it only accounts for 0.3% of current aviation fuel use.
Earlier this month, Abu Dhabi National Oil Company signed an LNG supply deal with IndianOil.
Source: https://emeatribune.com/india-and-brazil-to-enhance-cooperation-in-energy-sector/
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