PIB News Update:The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the signing of the Memorandum of Understanding (MoU) between Republic of India and Federative Republic of Brazil on cooperation in the field of oil and natural gas.
The MoU will enhance cooperation between the two sides in oil and natural gas sector. Under the MoU, both sides will work towards establishing cooperation in the E&P initiatives in Brazil and India, research & development in this sector, explore collaboration in Liquefied Natural Gas projects in Brazil, India and third countries, and also encourage collaboration in oil energy and environmental issues, including energy policies such as energy efficiency, energy research development and expansion of the regional energy infrastructure networks.
The MoU is expected to be signed during the visit of President of Brazil to India later this month.