Fuels Europe Clean Fuels Pathway
The ambition of the European Union is to be climate neutral by 2050. The European refining industry supports the same ambition.
Our industry is transforming, and we have developed a comprehensive potential pathway of how we, together with our partners, can contribute to meeting the 2050 climate neutrality challenge. This work is the continuation of our Vision 2050, which outlined back in 2018 “A Pathway for the Evolution of the Refining Industry and Liquid Fuels”.
By 2050, at the latest, every litre of liquid fuel for transport could be net climate neutral, enabling so the decarbonisation of aviation, maritime and road transport.
Liquid fuels thanks to their unique energy density are simply the best form of energy storage. Low-carbon liquid fuels will play a critical role in the energy transition and in achieving carbon neutrality in all transport modes, as the global demand for competitive liquid fuels is expected to progressively increase. Alongside electrification and hydrogen technologies, low-carbon liquid fuels will remain essential even beyond 2050, bringing important benefits to the European economy and society.
We stand ready to enhance our collaboration with policymakers, our value chains and other partners to create the right conditions and policy framework for investments in new technologies to address the climate challenge. The EU refining industry is already engaged in a low-carbon transition. We are uniquely positioned to keep driving the development of these technologies, but we will not be able to achieve this alone.
With low-carbon liquid fuels, European refiners are ready to contribute to climate-neutral transport. PW150620