São Paulo - BP Biofuels and Copersucar today announced that they have agreed to form a joint venture to own and operate a major ethanol storage terminal in Brazil, better and flexibly connecting ethanol production with the country’s main fuels markets.



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Copersucar is the world’s leading sugar and ethanol trader, with the largest sugar and ethanol storage capacity in Brazil. BP Biofuels, part of BP’s Alternative Energy business, is a significant producer of ethanol from sugarcane in Brazil.

Dev Sanyal, BP’s CEO Alternative Energy, said: “BP is committed to the dual mission of delivering the energy that the world needs while advancing the low carbon world that we all want. We believe that biofuels offers one of the best large-scale solutions for decarbonising the transport sector and demand will continue to grow for decades to come. Brazil is one of the largest markets globally for ethanol as a fuel and this collaboration with Copersucar enables us to extend and expand our existing value chain to meet its growing demand.”

The 50/50 joint venture will own and operate the Terminal Copersucar de Etanol in Paulínia in the state of São Paulo, which is currently solely owned by Copersucar. Joint ownership of the terminal will support the strategies of both companies - connecting important ethanol production with flexible storage capacity close to the main ethanol consumer markets in Brazil.


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