📋 Tender Overview
At the EU-CELAC Summit held today in Brussels the EU and Argentina have taken a further step in their energy cooperation by signing a Memorandum of Understanding. Signed by the President of the European Commission Ursula von der Leyen and the President of the Argentine Republic Alberto Fernndez in the presence of the Commissioner for Energy Kadri Simson and the Minister of Foreign Affairs of Argentina Santiago Cafiero the Memorandum of understanding establishes key areas of cooperation such as renewable energy hydrogen and the reduction of methane emissions. It also highlights the importance of ensuring that the clean energy transition is socially just. The President of the European Commission Ursula von der Leyen has declared Europe and Argentina partner to achieve a safer more sustainable and prosperous world. Our energy cooperation is a particularly promising area to ensure a fair and clean transition on both continents. The Memorandum of Understanding that we signed today will guide and shape our cooperation for years to come. This is an important step in the implementation of the European Unions Global Gateway investment agenda and will help us achieve our climate and energy targets.Closer cooperation on energyAs established in the Memorandum of Understanding the EU and Argentina will collaborate to develop and promote renewable energy and energy efficiency as well as the use of hydrogen and its derivatives in applications such as industrial processes transport and energy storage. . Increased energy cooperation will boost the energy transition and value creation in the country and contribute to economic growth and sustainable local development.The two parties also pledged to strive for the maximum technically feasible reduction in methane leaks in the fossil gas supply chain . Together they will examine new technologies to reduce flaring and venting and work to integrate recovered methane into the supply chain to reduce harmful emissions while increasing gas supply chain efficiency. natural. This will help meet climate targets and boost security of energy supply.In addition the MoU underlines the need to ensure that future investments in promising projects or activities comply with relevant environmental legislation take into account concerns about biodiversity degradation and ensure the protection conservation and restoration of water systems and ecosystems. aquatic. It also stresses the importance of carrying out a just energy transition that respects the interests of local communities. ContextThe EU and Argentina have a well-established energy dialogue covering renewable energy energy efficiency hydrogen and natural gas. This dialogue is based on the declarations initiatives and agreements established in the recent High-Level Dialogue on Energy and in the meeting of the Twelfth Joint Commission for Cooperation between the European Union and Argentina held in Buenos Aires on June 22 2022. by virtue of the provisions of the Framework Agreement for Commercial and Economic Cooperation between the European Economic Community and the Argentine Republic of 1990.Cooperation in the field of renewable energies is part of the investment agenda of the Global Gateway of the European Union for Latin America and the Caribbean aimed at promoting a fair ecological and digital transition that the President of the Commission presented at the EU-LAC Business Round Table. The European Commission coordinates the development and implementation of the EU-LAC Global Gateway investment agenda which is a political commitment to work together detecting fair green and digital investment opportunities in Latin America and the Caribbean which will benefit from the open environment generated by trade and investment agreements and will contribute to the achievement of the Sustainable Development Goals . It highlights 130 representative projects in Latin American and Caribbean countries to drive smart investments that promote sustainable growth in key sectors such as health renewable energy digital connectivity critical raw materials research and innovation.The EU-LAC Global Gateway investment agenda will be delivered through Team Europe initiatives the EU its Member States development finance institutions including the European Investment Bank EIB credit agencies to the export and all other public sources of finance will collaborate in public-private partnerships with the private sector.
