repsolSpain’s largest oil company and naturalnesslargest gas operator gathers demanding an energy transition towards a decarbonised system with “realism” in targets and deadlines, with “transparency” in terms of costs and consequences, and with “technological neutrality” to not demonize some energies and defend only renewable energies.
Repsol’s presidents, Antonio Brufau, and Naturgy’s presidents, Francisco Reynés, came together to argue that decarbonization is not just meant to excite the economy, because key sectors (air and sea transport, major chemical industry, paper…) will have to continue using hydrocarbons in their production processes. ; and claim the role natural gas to stabilize electricity generation against interruptions in renewable energy production.
“For the energy transition realism required setting achievable goals and deadlines. And transparency about the remaining costs, prices and mortgages with the decisions taken,” Reynés emphasized in his speech at the XXI Congress of the Spanish Confederation of Directors and Executives (CEDE) held in Bilbao this Thursday.
Both Naturgy’s chairman and Repsol’s chairman have advocated pursuing the goal of reaching 2050 with a decarbonised economy, but in doing so “without losing energyIn the process. “The principle of technological neutrality must be accepted,” said Brufau, “we cannot ban some energies and just accept others.” Oil and gas companies have advocated this neutrality, so companies continue to innovate in decarbonizing using all energies.
Both companies advocated the future of green hydrogen and other renewable gases in the medium and long term. “The energy and industrial sectors will require huge sums of money, and for this there has to be legal certainty and the rules must not change in the middle of the game. Long-term stability neededBrufau warned.