India, Brazil agree on promotion of sustainable bioenergy at global level

Apr 21,2022

India, Brazil agree on promotion of sustainable bioenergy at global level

The union minister of petroleum and natural gas Hardeep Singh Puri and the minister of mines and energy of Brazil, Bento Albuquerque have agreed on the need to reinforce the promotion of sustainable bioenergy and biofuels at the global level.

It would diversify options for energy security, boost rural development, bring about technological and industrial innovation, and create jobs and opportunities while reducing local and global emissions, said a joint statement from both the ministers.

They also agreed that a thriving international market for sustainable bioenergy and biofuels will be essential to the design of low-carbon global vehicle platforms, as well as to the development of new technologies and the establishment of economies of scale in the bioenergy sector.

The joint statement said that the two ministers stressed the importance of a constant engagement between the private and public stakeholders of both countries, in order to forge strong and dynamic cooperation in bioenergy and biofuels.

The Minister of Mines and Energy of Brazil, Bento Albuquerque paid an official visit to India on April 19th -22nd, 2022 on the invitation of the minister of petroleum & natural gas of the Hardeep Singh Puri.

Albuquerque was accompanied by a delegation of private sector leaders of the biofuels and automotive sectors.

The ministers reviewed the existing bilateral cooperation across the entire spectrum of the energy sector and committed to enhance the beneficial partnership between the countries, and expressed satisfaction at the important role bilateral energy cooperation plays in deepening the strategic partnership between the two countries. The two sides recognized the importance of the robust investment in the Brazilian oil and gas sector made by Indian companies and reaffirmed their commitment to safeguard existing investments, while encouraging further bilateral investments.

The visit gains significance as the world is going through an energy crisis with massive volatility in oil prices amis the Russia-Ukraine conflict. Countries across the globe including India are looking at lowering import dependence for their energy requirement. India is also focussing on green energy sources to meet it’s commitment to achieve carbon neutrality by 2070.