Brazil Will Invest R$ 1.5 Trillion in Oil and Gas By 2027

Written by Paulo Nogueira

Published on 08/07/2019 at 15:44

Updated on 08/07/2019 at 15:51

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According to the Minister of Mines and Energy, Bento Albuquerque, Brazil, the United States, and Russia have the technology and resources to develop nuclear energy generation.

During his participation in an event at the Commercial Association of Rio de Janeiro this Friday, July 5th, the Minister of Mines and Energy, Bento Albuquerque, stated that Brazil will invest R$ 1.5 trillion in oil and gas by 2027, an additional R$ 550 billion in the electricity generation and transmission sector, and R$ 80 billion in the mineral sector by 2022.

According to the minister, Brazil, the United States, and Russia have the technology and resources to develop nuclear energy generation. Power plants occupy small areas, and our fuel is domestic.

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The president of NUCLEP emphasized that the company would be one of the main sponsors of the event. NUCLEP is subordinate to the Ministry of Mines and Energy, created to support the Brazilian Nuclear Program.

“We are immensely proud to be directly linked to the Minister of Mines and Energy, Admiral Bento, who, even before the ministry, as then General Director of Nuclear Development and Technology of the Brazilian Navy, was always connected to NUCLEP. Always involved in the development of our nuclear projects directed towards the Defense of the country, the minister is also our president of the Administrative Council. NUCLEP has a lot to contribute to the growth of the national Energy sector and we will always be present at events like this, which enhance and strengthen our ministry.”

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Leonam dos Santos Guimarães, president of Eletronuclear, also present at the event, stated that he expects to reach this month the business model that will be adopted to resume the works of Angra 3, and the expectation is that the signing of contracts with future partners, still undefined, will occur by the end of next year. Several international companies have expressed interest in the partnership, including American, French, Chinese, and Russian companies.

According to Leonam, so far R$ 10 billion has been spent on the works of Angra 3, which began in the 1980s. The president of Eletronuclear added that R$ 15 billion will be needed to complete the plant.

During his speech, Minister Bento Lima Albuquerque once again highlighted that the Government will restart and complete the construction of the Angra 3 Nuclear Power Plant and intends to present the National Energy Plan (PNE) by December, which should point to the construction of new nuclear power plants in Brazil to meet the country’s need to change its energy matrix.

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