Lisbon: Portugal is seeking Brazilian investment to establish one or two advanced biofuel and sustainable aviation fuel (SAF) plants as part of a joint initiative aimed at supplying both domestic and European markets, the country’s Energy Minister Maria da Graça Carvalho said.
Carvalho said she would discuss the proposal with her Brazilian counterpart during a visit to Brasília next week, highlighting Brazil’s global leadership in biofuels and Portugal’s strategic location as a gateway to Europe, Reuters reported.
The proposed project aims to combine Brazil’s technological expertise in advanced biofuels and SAF with Portugal’s access to European markets, where demand for low-carbon transport fuels is expected to grow.
“Brazil has been a leader for many years and has significant technological expertise in advanced biofuels and SAF. We want to offer the conditions in Portugal to establish one or two plants to produce these fuels,” Carvalho told reporters.
She said the project, which has the support of Brazilian President Luiz Inácio Lula da Silva, could be developed as a joint venture to supply both Portugal and other European countries.
Carvalho added that she would visit biofuel production facilities in Brazil next week. Any investment proposals for similar plants in Portugal would be coordinated through AICEP, the country’s foreign investment promotion agency.
Portugal’s advanced biofuels sector is still at an early stage. Energy company Galp is currently constructing a 270,000-tonne-per-year renewable fuels plant in Sines, which is expected to begin producing sustainable aviation fuel and renewable diesel in 2026.
Carvalho also said Brazil is Portugal’s largest crude oil supplier, accounting for 44% of the country’s oil imports, while Algeria ranks second. Nigeria and the United States are Portugal’s main suppliers of natural gas.
She noted that although Portugal has diversified its energy imports and is not heavily dependent on the Gulf region, it remains exposed to fluctuations in global energy prices.
