Brazil Enacts New Framework for Carbon Capture and Storage
On October 8 2024, Brazil enacted Federal Law No. 14,993/2024, which stems from Bill No. 528/2020, the “Fuels of the Future Bill.” The new law, which addresses several matters related to decarbonization, provides for the regulation and inspection of activities involving the capture and geological storage of carbon dioxide, also known as CCS (Carbon Capture and Storage)—the first Brazilian framework to address this topic.
Under the new framework, the capture of carbon dioxide for geological storage, its transportation through pipelines, and the geological storage itself will be subject to authorization by the National Agency of Petroleum, Gas and Biofuels (ANP); the ANP will be in charge of issuing regulatory standards on the qualification of parties to carry out CCS operations as well as the conditions for granting or transferring the respective authorizations.
Read more at Mayerbrown.com
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