icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
12 Feb, 2023 05:03

Brazil wants Russian investment in energy sector – envoy

South America’s largest economy is aiming for more cooperation with Gazprom, according to its ambassador
Brazil wants Russian investment in energy sector – envoy

Brazil is seeking investment in its energy sector from Russian gas major Gazprom, the country's ambassador to Russia, Rodrigo de Lima Baena Soares, has revealed.

“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,” he told RIA Novosti at the Prodexpo exhibition on Thursday.

According to Brazil's National Confederation of Industry, foreign investment in the country could reach about $29 billion by 2030 thanks to the new law.

Both BRICS member states, Brazil and Russia have been strengthening energy relations. Brazil said last year it was looking to buy as much Russian diesel as it could, calling Moscow a strategic partner and a “very reliable supplier.” The sides could significantly strengthen cooperation in the energy sector, especially in production and processing of oil and natural gas, as well as in the area of peaceful nuclear development.

Last year, during a telephone call with Brazil’s former president Jair Bolsonaro, Russian President Vladimir Putin promised the South American country a steady supply of fertilizers, which are crucial for Brazil’s vast agribusiness sector.

For more stories on economy & finance visit RT's business section