Re-Powering the EU by protecting well-functioning markets, enhancing strategic partnerships, and boosting domestic production

In March, IOGP published a press release to state its support for the European Union’s objective to ensure access to affordable, secure, and sustainable energy, recognize current challenges and circumstances in global energy markets, and call for well-designed measures to address them.

IOGP agrees with the Commission that security of supply is a matter of strategic interest. Europe (EU27, the UK, and Norway) produces around 40% of the natural gas it consumes, and this directly contributes to Europe’s strategic autonomy. The increasing availability of renewables also contributes to lower reliance on imports, and IOGP welcomes proposed measures to help accelerate their deployment, which will rely on gas to stabilize power supplies.

“IOGP fully supports REPowerEU’s objective to boost gas supply diversification, energy savings, and a renewable energy and hydrogen deployment. We call on EU Member States to further strengthen EU resilience by optimizing the production of Europe’s oil and gas resources. The European oil and gas industry is subject to world-class environmental and GHG emission reduction legislation and proudly supports the EU on its pathway to climate neutrality,” said François-Régis Mouton, IOGP Regional Director Europe.

Read the full press release here.

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