Last February, Repsol YPF's Vice President of Operations was received by the President of the Federal Republic of Brazil, with the goal of strengthening trade relations. Investments for the current year and the integration of energy markets were the topics discussed during the meeting.
Brazil is the world's ninth largest economy and one of the main member countries of Mercosur. The natural gas market is currently one of the fastest growing, with annual growth rates exceeding 17%, a fact that has facilitated contact between Brazil and the company Repsol YPF. Thus, last February, a meeting took place between the President of the Federal Republic of Brazil, Luiz Inácio Lula da Silva, and the Vice President of Operations of Repsol YPF, Ramón Blanco, which was also attended by Dila Rousseff, Brazil's Minister of Energy and Mines. The meeting highlighted that energy integration between Brazil and Argentina and Bolivia, two of the region's largest producers, to create a single energy market in the area, would improve the efficiency of the systems and result in benefits for consumers in those countries, who would see a reduction in energy costs.
This energy integration would enable access to the Brazilian market for gas produced in Bolivia and Argentina, countries where Repsol YPF operates major gas projects.
In the natural gas sector, the company is a pioneer in exporting this product to Brazil from Argentina and was the first foreign company to invest in refining in Brazil in the last 45 years, through its partnership with REFAP and the Petróleos de Manguinhos refinery.
Any questions about this news?
Talk to Coexia, the AI of the foreign trade
