Brazilian state-owned oil and gas giant Petrobras and Danish company European Energy have signed a memorandum of understanding (MoU) to investigate business opportunities for developing an e-methanol plant in Brazil, on a non-binding basis.
According to Petrobras, the companies have vertically integrated operations involving the energy transition, including generating renewables and providing green hydrogen-based solutions.
Commenting on the MoU signing, Jean Paul Prates, the President of Petrobras, said: “Petrobras wants to focus on having good partners like European Energy… This partnership will benefit both sides. We can provide our knowledge and help to bring both the companies and our countries closer together.”
To note, e-methanol is a low-carbon substance produced from various renewable sources of green hydrogen, such as solar and wind power, as well as biogenic carbon dioxide. It can be used in various industrial processes and as a fuel, especially for maritime transport.
The MoU is said to fit with the strategic elements of Petrobras’ 2024-28 Strategic Plan, designed to ensure the company is contributing to the success of the energy transition.
In the last few months, Petrobras teamed up with multiple companies in a bid to prepare itself for a more sustainable future during the energy transition journey. The collaborations include deals with energy majors such as Vale, TotalEnergies and Casa dos Ventos.