NOVEMBER 20259EUROPEEUROPEvision and path, focusing on attaining the desired long-term sustainability goals whilst seizing short-term opportunities to build business resilience throughout that transition. Staying attuned to evolving net-zero policies and adopting a new collaborative approach across industries and sectors are also crucial, especially for projects using "first-of-a-kind" tech-nologies that expose developers to novel technical challenges. Seizing the Moment: Opportunities for the Energy SectorThe remainder of this decade and the next presents opportuni-ties for the oil refining sector in Eu-rope. While the demand for oil prod-ucts continues to decline, refineries that successfully implement low-carbon technologies to reduce their scope one, two and three emissions will not only survive but thrive, positioning themselves as key suppliers of the low-carbon energy vectors of the future. The continuous expansion of renewable energy sources is playing a crucial role in transforming our energy matrix, but it will not suffice to achieve a low-carbon power grid by 2030, as the UK government has targeted. This is where our sector can bridge the gap. We can decarbonize our manufacturing facilities by de-ploying CCS infrastructure, incentivised through the cluster sequencing process. Using natural gas and off-gas refineries, our industry can generate vast quantities of blue hydrogen at a lower cost than any other low-carbon hydrogen technol-ogy available today. These molecules enable other indus-tries to decarbonise and generate dispatchable low-carbon power to the grid. Creating an integrated ecosystem where carbon dioxide and green hydrogen are readily available paves the way to produce e-fuels that can be blended with tra-ditional fossil fuels as markets transition towards lower-carbon liquid fuels.By seizing these opportunities, our sector can not only lead the way in achieving net-zero emissions across the industry but also drive innovation, en-hance workforce skills and stimulate economic growth.Pushing Hydrogen and CCUS to the ForefrontOur committee advocates for a range of initiatives to expe-dite the transition to a low-carbon economy where the oil downstream sector plays a crucial enabling role by provid-ing the low-carbon fuels and chemicals of the future at the lowest possible cost to consumers. This is achieved by har-nessing the potential of hydrogen and CCUS technologies, particularly when applied to and/or integrated with existing assets.As the leading hydrogen-producing sector in the UK to-day, our advocacy focuses on scaling up our hydrogen pro-duction in a low-carbon manner through the application of CCS technology. This helps to decarbonize manufacturing and produce low-carbon fuels and chemicals.Additionally, we advocate for clear and consistent poli-cies that provide long-term certainty for investors and fi-nancial incentives, particularly in relation to carbon pricing, the emerging carbon border adjustment mechanism and business models that impact the deployment of CCUS and low-carbon hydrogen technologies. Marcos MatijasevichThe energy sector can not only achieve net-zero emissions but also spark innovation, elevate workforce skills, and stimulate economic growth, all by embracing low-carbon technologies.
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