Brazil signs memorandum of understanding with Saudi Arabia on energy transition

This is an automated translation of the original release published in Portuguese.

By MME

November 28, 2023

The Minister of Mines and Energy, Alexandre Silveira, signed this Tuesday (28/11), in Riyadh, Saudi Arabia, a memorandum of understanding between the MME and the Ministry of Energy of the Kingdom of Saudi Arabia to strengthen cooperation between two countries. The document covers partnerships in the fields of renewable energy, oil and gas, among other strategic partnerships for the development of the sectors.

“Brazil, under the leadership of President Lula, returned to dialogue and opened doors around the world. We are in Saudi Arabia demonstrating Brazilian leadership in the energy transition and seeking to further expand our relationship with the country, developing important partnerships in the energy, oil, gas, green hydrogen and many other topics. We will attract investments to the country to promote economic and social development in Brazil, generating jobs, income and combating inequalities,” stated Silveira.

The memorandum covers several sectors, such as oil, gas, electricity, renewable energy, energy efficiency, petrochemicals and hydrogen, among others. The Circular Carbon Economy and technologies to reduce the effects of climate change, such as carbon capture, reuse, transfer and storage, were also highlighted in the document.

The memorandum also established qualitative partnerships between the parties to locate materials, products and services in all energy sectors, supply chains and their associated technologies, strengthening cooperation with companies specialized in the energy field. Furthermore, joint studies in the field of energy with universities and research centers will be encouraged.