Brazil’s Petrobras and Vale have signed a protocol of intentions to develop low-carbon solutions, saying they are taking advantage of technical expertise and synergies, according to a Petrobras filing, Bloomberg reported.
The partnership will last two years and provides for the assessment of decarbonization opportunities covering the development of initiatives in sustainable fuels such as hydrogen, green methanol, biobunker, green ammonia, and renewable diesel, as well as CO2 capture and storage technologies.
The deal also provides for the evaluation of potential agreements to supply low-carbon fuels produced by Petrobras for consumption in Vale’s operations.
In its own filing, Vale said that the partnership could contribute to achieving its commitment to reduce absolute scope 1 and 2 emissions by 33% by 2030 and achieve neutrality by 2050.