Through a change in its contractual structure, Shell and Cosan reached an agreement to strengthen raízen in Brazil so that it would be permanent.
"Sustainable and low-carbon biofuels play an important role nowadays, and will be needed in the long term for heavy and long-distance transport," says John Abbott, director of Downstream at Shell. "We are pleased with Raízen's strong performance. This commitment reaffirms the stability of the partnership between Shell and Cosan, as well as our shared vision of the long-term goals and value of our business. "
Marcos Lutz, CEO of Cosan, adds: "Transforming Raízen into a permanent joint venture strengthens the partnership we have built with Shell in the last five years, while we have opened our way to continue our successful journey in Brazil. Our partnership with Shell is key to being recognized for excellence in sustainable energy development, production and commercialization. "
Raízen is the largest individual producer of sugarcane in the world, producing more than 4 million tons of sugar, more than 2 billion liters of ethanol and 2.2 gigawatt-hour of energy cogenerated in 2015. It also operates a network of more than 5,800 fuel stations with the Shell brand in the country. The combination of retail experience with Shell and Cosan's technical expertise has contributed to Raízen's strong financial and operational performance since the creation of the joint venture.ACESSE AS REDES DA PANORAMA OFFSHORE: