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Mitsui & Co. and Petrobras to Sign an MOU on Bio-Ethanol
Petroleumworld
CARACAS
Petroleumworld.com 04 10 06Mitsui & Co., Ltd., reached an agreement with Petrobras (Petroleo Brasileiro S.A.), the national petroleum company of Brazil to jointly carry out a feasibility study for promoting the production of bio-ethanol and related products in Brazil and for the marketing of such into the international market.The Memorandum was signed on April 10, during the visit of Mr. Furlan, the Brazilian Minister of Development and Industry to Japan, according to a press release.
Bio-ethanol is deemed to be an effective renewable fuel for the purpose of achieving the goals stipulated in the Kyoto Protocol, reduction of Green House Gas.The world's demand for bio-ethanol is on the rise and Brazil produces 35% of all world's bio-ethanol and exports over 2 million kilo litres making it the biggest bio-ethanol exporter of the world. In order to shed light on the issues of stable and economic supply we think it quite important to carry out the feasibility study for production in Brazil and for export marketing.
Through the joint implementation the MOU with Petrobras we hope to combine Petrobas's experience and knowledge regarding bio-ethanol with Mitsui's expertise in global marketing and hope to be able to help secure a new energy source of the future and to contribute to the cause of combating global warming through the reduction of CO2 emission.
Mitsui & Co., signed a three party MOU with Petrobras and CVRD (Compania Vale do Rio Doce S.A.) in May of 2005 to carry out a feasibility study regarding the logistics of bio-ethanol in Brazil.We hope to be able to expand the scope for our study to cover the integrated supply chain from production and logistics in Brazil to global marketing through the conclusion of the MOU with Petrobras.
Petroleumworld 04 10 06Copyright © 2006 Petroleumworld. All Rights Reserved.
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