Eneva is resuming natural gas exploration in the Paraná Basin with a R$200 million investment. The project includes carbon storage and aims to support ethanol plants in reducing emissions. The company is already creating jobs and expects to begin drilling in 2027.
Eneva, one of Brazil's leading energy companies, is about to shake up the market with an investment of R $ million 200 to resume natural gas exploration and start a carbon capture project in the Paraná Basin.
The region, located between Mato Grosso do Sul and Goiás, has not seen exploratory activities for more than 20 years, but promising studies indicate that there may be valuable resources there.
However, what Eneva is looking for goes beyond natural gas. Could the future of clean energy in Brazil lie deep beneath the salt rocks?
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Last month, the company began carrying out seismic surveys to map the subsoil and assess the area's potential.
With a forecast of approximately one and a half years to complete this stage, Eneva is already targeting 2027 as the year to begin drilling exploratory wells.
As revealed by Frederico Miranda, director of Exploration and Low Carbon Technologies at Eneva, the initial objective is to find natural gas.
However, the project also includes an innovative approach: the storage of carbon dioxide (CO₂), aligning the search for energy with decarbonization efforts.
Exploring the Paraná Basin: Why Now?
Eneva's investment in natural gas in the Paraná Basin revives interest in the area, which was forgotten for decades.
When the company won four exploratory blocks in 2021, during the second ANP bidding cycle, she already saw the basin’s potential for this purpose.
But it was as Eneva advanced its studies that it came across another possibility: the use of so-called “saline reservoirs” to store CO₂.
According to Miranda, these deep geological structures can be ideal for containing carbon dioxide, contributing to the mitigation of environmental impacts.
Decarbonization potential and partnership with ethanol plants
Eneva has already started talks with ethanol plants interested in reduce your carbon footprint.
In these processes, the carbon dioxide generated can be stored in saline reservoirs, a practical solution for companies seeking to improve their Energy-Environmental Efficiency Ratings.
Additionally, we bring the proximity of plants to exploration blocks significantly reduces CO₂ transportation costs, making the project an attractive proposal from both an economic and environmental point of view.
Miranda highlighted that, although the company also operates thermoelectric plants, the capture of CO₂ in ethanol plants is more efficient.
“An ethanol plant generates exhaust with 95% to 98% pure CO₂, while in thermoelectric plants this percentage is only 4%,” he explained.
This difference makes ethanol plants ideal partners for carbon capture project, reducing operating costs and maximizing environmental benefits.
Financial return and challenges for the future
Despite the enthusiasm, Miranda considers that exploration focused solely on CO₂ storage may not be financially viable.
He believes that the association with the exploration of natural gas adds value and justifies the investment.
However, the project still depends on external factors, such as the creation of a regulated carbon market in Brazil.
The “Fuel of the Future” bill, which aims to regulate the carbon market and encourage the use of capture and storage technologies, awaits presidential approval.
In addition to environmental benefits, the project already has an economic impact on the Paraná Basin region, with the generation of around 500 direct jobs in seismic operations and many others indirectly in support sectors such as hotels and food.
Eneva believes that the entry into operation of the wells could create new job opportunities and economic growth for the local population.
The resumption of exploration in the Paraná Basin shows that Brazil has the potential to become a pioneer in the integration of gas exploration and carbon capture.
However, important questions remain: how will the regulated carbon market affect projects like this? And is Brazil really prepared to lead the global decarbonization movement?