Friday, September 29, 2023

Brazil, Suriname to cooperate on local content, renewable energy opportunities

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The historic meeting on Thursday between Heads of State for South America’s oil and gas producers, specifically President of the Republic of Suriname, H.E. Chandrikapersad Santokhi and President of the Federative Republic of Brazil, H.E. Jair Messias Bolsonaro, has resulted in an agreement for analysis and cooperation on several matters, including opportunities in energy and oil and gas.

In a joint declaration, the Presidents of the Republic of Suriname and the Federative Republic of Brazil said they have agreed to analyze the possibilities of cooperation related to the construction of technical and institutional capacity, the development of local content and renewable energies, as well as the provision of possible services related to the energy sector to Brazil, thereby responding to the needs of the states of the Northern Region of the country.

They have also agreed to intensify, from now on, the exchange of information on their national energy plans, the exchange of regulatory experiences in the oil and gas sector, including local content regulation, as well as collaboration in the prevention of accidents by oil spillage.

Furthermore, both Presidents intend to highlight the importance of collaboration in the field of electrical interconnection between Brazil, Guyana, French Guiana, and Suriname, and to encourage the Inter-American Development Bank to continue with the new phase of technical, economic, and environmental feasibility studies, within the framework of the Memorandum of Understanding signed in 2019 by that institution and the energy companies of the countries concerned.

The Presidents also exchanged views on issues related to security and defense, infrastructure, trade and investment, and the environment.

President Bolsonaro was expected to be in Guyana on Friday at which time announcements would have been made on cooperation between the two nations. However, it was reported on Friday morning that Mr. Bolsonaro had to cancel the visit as a result of the sudden death of his mother.

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