Petrobras signs Heads of Agreement with European Energy

Petrobras, following up on the announcement made on November 16, 2023, informs that it has signed today a Heads of Agreement (HoA) with the Danish company European Energy. This agreement is an important step in negotiations to structure a business partnership aimed at implementing a commercial-scale e-methanol plant in Brazil, to be installed in the state of Pernambuco.

E-methanol is a low-carbon solution that can be used in industrial processes or as a fuel, especially in maritime transport. It is produced by combining low-carbon hydrogen, obtained through water electrolysis using renewable energy sources such as solar and wind, with biogenic carbon dioxide.

The signing of the HoA is aligned with Petrobras’ Strategic Plan 2050 and Business Plan 2025-2029 (PN 2025-29), which aim to prepare Petrobras to lead a fair energy transition, reducing its emissions and expanding the supply of more sustainable products.

The establishment of business partnerships contributes to risk mitigation, strengthening of corporate governance, and sharing of information, experiences and technology.

About European Energy

European Energy is a Danish company that develops, builds and operates renewable energy assets, including solar and wind generation projects, as well as green hydrogen-based solutions. The company is present in several countries, with assets in operation and projects under development in Brazil, being one of the pioneering companies in commercial-scale e-methanol plants worldwide.