MME delegation presented foreign investors with a trustworthy, transparent and ready Brazil for new agreements in the oil, natural gas, biofuels, mining and renewable energy sectors. 

During a trip to the United States in August, a delegation from the Ministry of Mines and Energy (MME) presented projects and investment opportunities in Brazil to US authorities and foreign investors, in Washington and New York.

In the US capital, the Minister of Mines and Energy, Bento Albuquerque, met with the interim secretary of the US Department of Energy, David Turk. On the agenda of the meeting, the energy transition and policies to attract investors considering the participation of the industry. Bento Albuquerque highlighted the importance of exchanges between countries in terms of renewable energy, energy transition and industry engagement.

The minister was accompanied by the deputy executive secretary of the MME, Bruno Eustáquio, the international advisor of the MME, Christian Vargas, the advisor of the Ministry of Foreign Affairs (MRE), Alexandre Nina, and the representative of the Brazilian Embassy in Washington, Renato Gurgel. The result of the meeting will be made official through the MRE's communication channels.

The delegation also met representatives of companies in the oil, gas, biofuels, energy and mining sectors, from different countries. At the time, remembering that in 2020, around 26% of all inflows of foreign capital took place in the mining and energy sector, Bruno Eustáquio showed how much Brazil has attracted foreign capital, as a result of the confidence built from the policies developed by the MME in full articulation with the National Congress and control bodies, such as the Federal Court of Accounts (TCU).

When speaking to the world's largest companies, he highlighted the commitments assumed by Minister Bento Albuquerque, highlighting, among others: the capitalization of Eletrobras; the holding of transmission and new energy auctions with insertions of new sources; the opening of the gas market; the Transfer of Rights and other auctions carried out; and mining assets transferred to the private partner via the Geological Survey of Brazil (CPRM) and the National Mining Agency (ANM). He also mentioned programs that deal with the energy transition such as Renovabio, the National Hydrogen Program and the Fuel of the Future program.

Brazil, world protagonist 

“We have consistency and coherence between planning, policy and regulation, and planning is the great guide of this medium and long-term agenda”, emphasized Bruno Eustáquio. He reinforced the expectation of Brazil becoming, in the next ten years, the world's protagonist in the production and export of oil and gas, maintaining the matrix's renewability. “Our electric matrix will grow 50 GW by 2021. During this same period we will experience, in particular, a growth of wind and solar, in terms of capacity, when compared to 2021 of around 88% and 148%, representing about 27% of the share at headquarters in 2030”, highlighted the assistant secretary.

Bruno Eustáquio highlighted to businessmen the estimated investment of around US$ 527 billion, until 2030, with 84% of this total in the areas of oil, gas and biofuel and 16% in electricity. He highlighted the 23% growth in the transmission sector, with a wide diversification in the participation of companies in the auctions, and the important leap in oil and natural gas production. The highlight was oil, “We expect Brazil to reach 5.3 million barrels/day by 2030. Production today is 2.9 million barrels/day. We are going to grow oil production by 83%, and practically more than double the production of natural gas (116%), observing the new gas market”, guaranteed Bruno Eustáquio.

Strategic minerals 

For the mineral sector, investment is expected to be in the order of US$ 38 billion over the next 5 years. In this context, still in Washington, there was a meeting with the Secretary of the State Department of the Natural Resources Bureau, Anna Shpitsberg, on strategic/critical minerals. The conversation revolved around the Brazil/US agreement on the implementation of an economic assessment of the Brazilian mineral sector, and according to Bruno Eustáquio it was very important to consolidate the process of operationalizing the production of these subsidies arising from this agreement, which will feed the planning for the mining sector.

Meeting with entrepreneurs in New York 

In New York, the delegation met with representatives from XP Investimentos, BTG Pactual, Pinebridge, Compass Group, JP Morgan, among others. The meeting was attended by the financial director of Eletrobras, Elvira Presta, who presented an overview of the company's capitalization process, highlighting the company's profile; asset Management; performance in 2021; the turnaround process; governance and sustainability; the strategic vision and the main milestones

those of capitalization. It is also important to highlight the participation of the APEX Promotion Agency, with Director Lucas Fiuza. Secretary Bruno Eustáquio presented the achievements regarding the modernization of the electricity sector; the New Gas Market; the portfolio of assets of the MME and on the agenda of the National Congress in the proceedings relating to sectors related to the MME (oil and gas and mining).

Also in New York, the agenda with the Brazil-United States Chamber of Commerce included representatives of investors, the United Nations (UN), academia and banks. On that occasion, the opening of the new gas market, the latest regulations, as well as the mining agenda were discussed. Representatives of the MME, APEX and MRE also met with Terra Power, when they had a presentation on the advanced reactors program that consider, technological demonstration, supply chain, job creation and emission reduction with various application potentials. .

“We have strengthened the commitment and consistency between the decision-making processes for the elaboration of policies, good governance practices, a constant search for continuous improvement in the interaction with agents, transparency and predictability, and compliance with all energy transition guidelines. It was, without a doubt, a very productive agenda, and one that will certainly bring us fruits for a promising future in terms of new perspectives and new horizons for foreign investment in Brazil”, highlighted Eustáquio.