SUBSCRIBE
PROFILE

The European Union seals strategic energy agreement with OLADE

A memorandum of understanding formalises energy cooperation between the European Union and the Latin American Energy Organization, including permanent EU participation in the organisation’s governance bodies.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €3/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

SUBSCRIBE

The European Union and the Latin American Energy Organization (Organización Latinoamericana de Energía, OLADE) have signed a memorandum of understanding aimed at strengthening their cooperation in the energy sector. The agreement, signed by European Commissioner for Energy and Housing Dan Jørgensen and OLADE Executive Secretary Andrés Rebolledo, also grants the EU permanent observer status within the organisation.

A cooperation framework for public and private actors

The memorandum provides for the active involvement of European stakeholders in OLADE events and decision-making bodies. It also outlines mechanisms for the exchange of expertise and the joint development of projects, while offering technical assistance for their implementation. Together, the two blocs represent over one billion people, approximately 14% of the global population, and 21% of global GDP.

Coordination on COP28 commitments

Both parties have agreed to collaborate on implementing the objectives set at the United Nations Climate Change Conference (COP28), including the global pledge to triple installed renewable energy capacity and double energy efficiency by 2030. This coordination will also involve partnerships with institutions such as the International Renewable Energy Agency (IRENA), the International Energy Agency (IEA), the United Nations Development Programme (UNDP), and the Economic Commission for Latin America and the Caribbean (ECLAC).

Focus on methane emissions in the region

The agreement further outlines enhanced cooperation on reducing methane emissions in key sectors such as agriculture, transport, and fossil fuels. This component will be supported by the work of the Latin American and Caribbean Methane Emission Observatory (OEMLAC) and the International Methane Emissions Observatory (IMEO).

Dan Jørgensen stated that the agreement “will help better integrate regional energy efforts” and “strengthen collaboration between Europe, Latin America and the Caribbean, particularly at expert level.”

  • Popular on energynews.pro
OT Cyberattacks: Energy Sector Faces $329 Billion in Risks
Oklo selected for three pilot projects by U.S. Department of Energy
Eleven US companies selected to fast-track small nuclear reactor testing
OPEC+ Cuts Production Despite Higher Quotas in July
Eco Wave Power completes installation of pilot project at the Port of Los Angeles
Iraq and Syria Revive Kirkuk-Baniyas Pipeline to Bypass Traditional Routes
Baghdad and Damascus intensify discussions to reactivate the 850 km pipeline closed since 2003, offering a Mediterranean alternative amid regional tensions and export blockages.
Indonesia finalises free trade agreement with Eurasian Economic Union for December
A free trade agreement between Indonesia and the Eurasian Economic Union is set to be signed in December, aiming to reduce tariffs on $3 bn worth of trade and boost bilateral commerce in the coming years.
India sends top adviser to Moscow as US steps up pressure on Russian oil imports
The visit of India's national security adviser to Moscow comes as the United States threatens to raise tariffs on New Delhi due to India’s continued purchases of Russian oil.
EU suspends 93 billion euros in tariffs against Washington
Brussels freezes its retaliatory measures for six months as July 27 deal imposes 15% duties on European exports.
Iran and Iraq struggle to finalize gas agreement despite advanced negotiations
Discussions between Tehran and Baghdad on export volumes and an $11 billion debt reveal the complexities of energy dependence under U.S. sanctions.
India navigates between US sanctions and Russian oil dependence
Facing US secondary sanctions threats, Indian refiners slow Russian crude purchases while exploring costly alternatives, revealing complex energy security challenges.
US-Brazil trade war opens pathway for China and Europe in Latin America
The 50% tariffs push Brasília toward accelerated commercial integration with Beijing and Brussels, reshaping regional economic balances.
Trump hits Brazil with 50% tariffs but spares oil and iron
Washington imposes massive duties citing Bolsonaro prosecution while exempting strategic sectors vital to US industry.
US tariff ultimatum pushes India towards new Asian trade alliances
Sanctions imposed on August 1 accelerate the reconfiguration of Indo-Pacific trade flows, with Vietnam, Bangladesh and Indonesia emerging as principal beneficiaries.
Trump imposes 25% plus mystery penalties on India from August
Washington triggers an unprecedented tariff structure combining 25% fixed duties and an additional unspecified penalty linked to Russian energy and military purchases.
Qatar threatens to cut gas to Europe over climate requirements
Qatar rejects EU climate transition obligations and threatens to redirect its LNG exports to Asia, creating a major energy dilemma.
Uganda opens a mission in Vienna to strengthen its nuclear partnerships
Uganda is relying on a diplomatic presence in Vienna to facilitate technical and commercial cooperation with the International Atomic Energy Agency, supporting its ambitions in the civil nuclear sector.
Saudi Arabia and Syria launch a strategic agreement for regional energy cooperation
The governments of Saudi Arabia and Syria conclude an unprecedented partnership covering oil, gas, electricity interconnection and renewable energies, with the aim of boosting their exchanges and investments in the energy sector.
EU–US energy deal faces global market realities
The European commitment to purchase $250bn of American energy annually raises questions about its technical and economic feasibility in light of limited export capacity.
The European Union and the United States conclude a 15% tariff agreement on trade
A major customs agreement sealed in Scotland sets a 15% tariff on most European exports to the United States, accompanied by significant energy purchase commitments and cross-investments between the two powers.
Qatar threatens to divert its gas exports to Asia over European rules
Qatar has warned that it could stop its liquefied natural gas deliveries to the European Union in response to the new European directive on due diligence and climate transition.
Trade tensions: Brazil’s strategic minerals at the centre of negotiations with the United States
The Brazilian mining sector is drawing US attention as diplomatic discussions and tariff measures threaten to disrupt the balance of strategic minerals trade.
Trump threatens tariffs on Russian oil, but Reuters says enforcement unlikely
Donald Trump has raised the prospect of tariffs on countries buying Russian crude, but according to Reuters, enforcement remains unlikely due to economic risks and unfulfilled past threats.
Afghanistan and Turkmenistan strengthen cooperation on TAPI gas pipeline and trade initiatives
Afghanistan and Turkmenistan reaffirmed their commitment to deepening their bilateral partnership during a meeting between officials from both countries, with a particular focus on major infrastructure projects and energy cooperation.
European Union tightens sanctions on Russian oil to increase diplomatic pressure
The European Union lowers the price cap on Russian crude oil and extends sanctions to vessels and entities involved in circumvention, as coordination with the United States remains pending.
Consent Preferences