|
India and Brazil reaffirmed their existing collaboration in the energy sector and mutually beneficial relationships in bilateral trade and cooperation in sustainable fuels, particularly biofuels as a key component for global energy transition, during the official visit by Union Minister Hardeep Singh Puri to Brazil.
In a joint statement released on Saturday, both countries emphasized the role of the Global Biofuels Alliance in promoting biofuels, which are essential for environmental sustainability and socioeconomic growth. "The sides noted that India and Brazil, as two leading biofuel producers, are well-positioned to collaborate on production and use of Sustainable Aviation Fuels (SAF) , by leveraging their existing ethanol and biodiesel production infrastructure, growing aviation market and vast feedstock potential, including their agricultural resources," a joint statement read. Union Minister of Petroleum and Natural Gas Hardeep Puri, is on an official visit to Brazil from September 19-21 on the invitation of the Minister of Mines & Energy of Brazil, Alexandre Silveira. Puri was also accompanied by Indian Oil and Gas Companies representing both the upstream and downstream sector. During the meeting, both sides recognized that Brazil is now one of the largest destinations for investments by Indian oil and gas companies. They committed to identifying innovative mechanisms to enhance trade and increase the presence of Indian firms in Brazil's energy sector. Both sides also highlighted the potential for collaboration on Sustainable Aviation Fuels (SAF), leveraging their extensive biofuel production infrastructure. Currently, SAF accounts for only 0.3 per cent of aviation fuel use, and both countries aim to overcome challenges related to feedstock, production costs, and infrastructure to achieve net-zero emissions in aviation. As per the statement, the partnership is expected to foster economic growth, create jobs in rural areas, and advance renewable energy technologies while reducing reliance on imports. The sides also acknowledged that collaboration between the two countries represents a strategic partnership in line with the sustainable development and carbon reduction goals of both countries. The statement added that by combining resources, expertise, and technology, India and Brazil can lead the global transition towards lower emission aviation. This collaboration will not only address pressing environmental challenges but also open new avenues for economic and technological advancement in the biofuels sector. By aligning their efforts, India and Brazil aim to lead the global transition toward sustainable aviation, paving the way for a cleaner, more sustainable future. (ANI)
|
