Brazil and Argentina sign memorandum of understanding

The Brazilian government, represented by the Ministry of Mines and Energy (MME), has signed a memorandum of understanding with Argentina that will allow the transport of gas from the Vaca Muerta fields to Brazil. The signing took place in Rio de Janeiro during the G20 Leaders Summit.

Brazil's Minister of Mines and Energy, Alexandre Silveira, and Argentina's Minister of Economy, Luis Caputo, were responsible for formalising the agreement, which includes the creation of a bi-national working group. This technical group will evaluate infrastructure options to bring gas to Brazil. This is reported by Brasil 247, a partner of TV BRICS.

In his statement at the summit, Alexandre Silveira emphasised the importance of this cooperation: "We are studying the best routes to bring natural gas to Brazil".

For Silveira, the exploration and import of gas from Vaca Muerta is a strategic measure. "The issue of oil and gas production is not a supply issue, but a demand issue. As long as there is demand for oil, someone will have to supply it," the minister said.

The Ministry of Mines and Energy estimates that Brazil will initially import about 2 million cubic metres of gas per day, rising to 10 million in three years and reaching 30 million by 2030.

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