Luanda: The National Agency for Petroleum, Gas and Biofuels (ANPG), the National Institute for Environmental Management (INGA), and Chevron have extended their memorandum of understanding on Low Carbon Opportunity in Angola for an additional two years. This agreement, initially signed in 2023, aims to bolster collaboration among the parties to develop low-carbon products and solutions, such as biofuels and both natural and technological carbon offsets.

According to Angola Press News Agency, the cooperation will also involve establishing a Regional Centre of Excellence to draw investment to key sectors like transport, petrochemicals, agriculture, and the oceans. This initiative is expected to fortify Angola's position in these strategic areas.

The agreement was formalized with the signatures of Paulino Jer³nimo, Chairman of the ANPG Board of Directors; Simone da Silva, INGA Director-General; and Frank Cassulo, Director-General of Chevron in Angola. The ANPG official highlighted that the agreement is rooted in a mutual commitment to prepare Angola for a resilient, sustainable, and competitive energy future.

Simone da Silva emphasized that INGA will persist in ensuring that low-carbon initiatives meaningfully contribute to environmental protection, economic growth, and the realization of Angola's climate goals. Meanwhile, Chevron's director-general pointed out the progress made through joint efforts over the past two years, which has enabled the company to assist the Angolan government in developing comprehensive low-carbon legislation.

He noted that regulating carbon offsets and creating a voluntary market are vital tools for enabling sustainable projects and attracting long-term investments in Angola.