FuelsEurope offers transition to low-carbon liquid fuel by 2050

Monday, 18 Jun 2018

On June 5 in Brussels, the Ukrainian Oil and Gas Association (UO&GA) took part in the annual fuel conference of Europe’s largest oil refining and oil trading company — FuelsEurope. About 130 participants from EU countries representing authorities, industry, working groups of the National Association of Petroleum Industry FuelsEurope — NOIAs, as well as other profile experts attended the event.

The main topic of discussion was a long-term strategy for switching to the use of low-carbon liquid fuels, the so-called Vision 2050, which FuelsEurope presented on April 19, 2018 at a similar conference in Sofia, Bulgaria. “Vision 2050” is an industrial initiative of oil refining and oil trading companies of the EU countries to take the lead in the development and use of low-carbon liquid fuels. Its goal is the phased decarbonization of the global climate, our society and economy. Vision 2050 offers a cost-effective way to reduce CO2 emissions to the environment from all vehicles in operation, including all transport sectors, heavy-duty vehicles, marine and air transport. John Cooper, CEO of Fuels Europe, claimed: “To make this vision a reality, we first need to integrate it into industrial and technological strategies. We also need to protect the international competitiveness of EU industries and avoid offshoring production activities by developing and implementing these low-carbon technologies. Now we are trying to discuss these issues with politicians to ensure the implementation of our vision of the industry by 2050. ”

We remind that the Oil and Gas Association of Ukraine analyzes the oil and fuel trends of the EU countries, in order to implement the best practices of the oil and gas market in Ukraine. UO&GA is included in the working groups of the largest association FuelsEurope, which represents the interests of more than 40 major oil refining and oil trading companies operating in European markets such as SHELL, BP, Exxon Mobil, Eni, Neste, OMV, Repsol, Statoil and others. The association also coordinates the activities of the national industry associations of the oil and gas sector of the European Union. The share of FuelsEurope members is almost 100% of the market share of oil refining and more than 75% of retail sales of EU motor fuel.

The Ukrainian Oil and Gas Association is an industry association representing the interests of the largest players in the oil and gas market. Today, the Association includes 14 largest wholesale, retail, oil extracting, processing enterprises representing national, international, private and state-owned businesses, among them: WOG, OKKO, Shell, AMIC of Ukraine, SOCAR, KLO, Parallel, SunOil, Glusco, Gaztron, Ukrhazvydobuvannya, Tsentrnaftogazpostach, as well as wholesale suppliers of BNK-Ukraine and Alliance Oil Ukraine. Members of the Association provide about 50% of retail trade and about 80% of the market for imports of petroleum products.

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