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EU, Brazil to sign bioenergy pact.

The European Union (EU) and Brazil will sign an agreement with Mozambique to develop bioelectricity and biofuels projects, officials said.

The agreement will be signed during a summit of European and Brazilian leaders in Brasilia, they said.

Spurred by surging EU biofuel demand and Brazil's production expansion goals, the deal with Mozambique is seen in Brussels and Brasilia as a first step toward greater cooperation on developing renewable energy projects in Africa.

Under the agreement, the EU and Brazil will start studies on how best to develop bioethanol, biodiesel and bioelectricity projects in Mozambique, which has become a leading African biofuels producer in recent years.

"This agreement will be part of the EU and Brazil's wider cooperation with Africa, which we hope will eventually lead to an agreement with the Africa Union," an EU official said.

The EU needs biofuel to meet its target of sourcing 20 per cent of its energy needs from renewable sources by 2020.

Teaming up with global bioethanol leader Brazil would speed up the creation of a new and cheaper supply in Africa. Unlike Brazilian bioethanol, which is subject to high import tariffs at EU borders, African-produced biofuel would be subject to minimal tariffs.

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Publication:Oil & Gas News
Date:Jul 27, 2010
Words:219
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