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One of the largest Brazilian gas company wants to produce biofuel in Ukraine

One of the largest Brazilian gas company wants to create a joint venture in Ukraine for production of biofuel. This has been stated by Antonio Fernando Cruz de Mello the Ambassador of Brazil in Ukraine, during his meeting with Mykola Zlochevsky the Minister of Environment and Natural Resources of Ukraine.

According to the press service of the Ministry of Environment the meeting subject is: the prospect of investment attracting in the Ukrainian-Brazilian geology and the possibility of establishing of joint ventures for biofuel production. "Brazil is a world leader in deepwater drilling. We hope that the Brazilian investments will be attracted to the development of the Black Sea shelf," - says Mr. Zlochevsky. He has also stressed in addition that there are two open shale gas deposits for investors' proposals the names are - Olesky and Yuzovskiy.

The ambassador Antonio Fernando Cruz de Mello has said that Brazil's largest gas company, Petrobras has made a formal request for information about the state of the shelf deposits of the Black Sea and is ready for significant investments in this sector. The ambassador has also drawn attention to the interest in the creation of Petrobras joint venture in Ukraine for biofuel production. "Such an enterprise would satisfy the needs of not only Ukraine but also export a significant portion of production in the EU" - says Antonio Cruz, Fernando de Mello.

The brazilian ambassador has invited the Minister of Environment and Natural Resources of Ukraine to visit his country to carry on direct negotiations with potential investors. The parties have agreed that this visit will be realized in the near future.

12 September 2011
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