Petrobras Signs an Agreement with European Energy to Assess E-Methanol Opportunities

Source: www.gulfoilandgas.com 11/16/2023, Location: South America

Petrobras agreed a Memorandum of Understanding with the Danish company, European Energy, to investigate the business opportunities for developing an e-methanol plant in Brazil, on a non-binding basis. The agreement was signed in Denmark, at European Energy’s headquarters. They have vertically integrated operations involving the energy transition, including generating renewables and providing green hydrogen-based solutions.

E-methanol is a low-carbon substance that can be used in various industrial processes and as a fuel, especially for maritime transport. It is produced from various renewable sources of green hydrogen, such as solar and wind power, and biogenic carbon dioxide.

“Petrobras wants to focus on having good partners like European Energy. Established, reliable companies who are solid enough to work with us on large-scale projects. This partnership will benefit both sides. We can provide our knowledge and help to bring both the companies and our countries closer together”, commented Jean Paul Prates, the president of Petrobras.

The Memorandum of Understanding fits with with the strategic elements of the 2024-28 Strategic Plan, which is designed to ensure Petrobras is ready for a more sustainable future, and is contributing to the success of the energy transition.


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