Russia is encouraged to engage in Brazil's energy industry
Date
2/12/2023 2:41:32 AM
(MENAFN) According to Rodrigo de Lima Baena Soares, Brazil's ambassador to Russia, the government is looking to Russian gas giant gazprom for investment in its energy industry.
On Thursday at the Prodexpo trade show, he informed RIA Novosti, “we have a new legal framework for the Brazilian gas sector, we expect investments from Gazprom in Brazil so that we have a serious presence of a large Russian company.” On the other hand, Brazil's National Confederation of Industry estimates that the new rule is going to enable foreign investment to increase to around USD29 billion by 2030.
Brazil and Russia, two BRICS members, have been enhancing their energy ties. Brazil stated that it was aiming to purchase as much Russian diesel as it could last year, referring to Moscow as a key partner and a "very reliable supplier." In the energy sector, particularly in the production and processing of oil and natural gas, as well as in the field of peaceful nuclear development, the parties might greatly increase their collaboration.
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