Vale joins hands with Petrobras to boost development of low-carbon solutions
Brazil majors Vale and Petrobras have signed a protocol of intent to develop low-carbon solutions, taking advantage of both companies’ technical expertise and synergies.
According to Vale, the partnership is for a two-year period and will assess joint decarbonization opportunities, including the development of sustainable fuels such as hydrogen, green methanol, biobunkers, green ammonia and renewable diesel, as well as C02 capture and storage technologies.
Furthermore, the initiative includes potential commercial agreements for the supply of low-carbon fuels produced by Petrobras to be used in Vale’s operations, which could contribute to the company’s commitment to reducing its greenhouse gas emissions, Vale noted.
“Brazil has all the necessary conditions to lead a large-scale development of low-carbon solutions and renewable fuels such as green hydrogen and green methanol. Vale is firmly committed to reducing its carbon footprint and wants to be a protagonist in this journey, leveraging relevant actions for the energy transition in Brazil. This agreement with Petrobras fits perfectly into this context,” said Eduardo Bartolomeo, Vale’s CEO.
Petrobras President, Jean Paul Prates, commented: “Petrobras’ partnership with Vale will be strategic in driving the country’s energy transition… We are going to leverage the production capacity, logistical structure and technological expertise of two national giants to boost the production and supply of more efficient and sustainable fuels. This is what we can call being a first mover to materialize our decarbonization strategy, creating demand and scale for low-carbon solutions.”
To note, recently, Petrobras has been teaming 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 TotalEnergies, Casa dos Ventos, China National Offshore Oil Corporation (CNOOC), China Petrochemical Corporation (Sinopec) and so on.
- TotalEnergies, Petrobras and Casa dos Ventos eye joint development of offshore wind, low-carbon hydrogen in Brazil
- Petrobras sets its cap on pursuing further decarbonisation pieces in energy transition puzzle
- Petrobras and Chinese players join forces in pursuit of oil & gas, renewables, and CCS opportunities