President Bush and Brazilian President Luiz Incio Lula da Silva agreed to launch a broad, bilateral energy partnership that will focus on hydrogen energy, carbon sequestration, electricity modernization, renewable energy and energy efficiency technologies, and offshore energy infrastructure safety.
Secretary Abraham and Minister Rousseff announced they have signed a Memorandum of Understanding to establish a mechanism for consultations on energy cooperation in these areas.
The first of these consultations will be held in Brazil in December 2003, when Secretary Abraham will visit Brazil.
This partnership will be implemented through both bilateral cooperation and joint participation in multilateral institutions to be determined in the course of these consultations.
This partnership responds to the National Energy Policy recommendations to strengthen bilateral cooperation on energy modernization and new technologies required to promote economic growth and energy security.
George W. Bush, Statement by Press Secretary on U.S.-Brazil Energy Partnership Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/280874