Cabinet nod for India-Brazil MoU in oil and gas sector

New Delhi, Jan 22 (IANS) The Union cabinet on Wednesday approved the signing of a memorandum of understanding (MoU) between India and Brazil on cooperation in the field of oil and natural gas.

The MoU will enhance cooperation between the two sides in the oil and natural gas sector, a cabinet statement said.

Under the MoU, both sides will work towards establishing cooperation in the exploration and production initiatives in Brazil and India, on research and development in the sector, as well as explore collaboration in liquefied natural gas (LNG) projects in Brazil, India and third countries.

According to the statement, both the countries will 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 the President of Brazil to India later this month," it said.