The keys to a positive energy transition that uses all possible solutions to maximum advantage

Antonio Brufau, Chairman of Repsol, has participated in an event entitled "The Energy Transition and the New European Cycle", organised by the Real Instituto Elcano at Casa América in Madrid.

Climate and energy policies are among the key issues on the European agenda. At an event called "The Energy Transition and the New European Cycle”, several experts examined aspects such as Spain's situation within the energy transition, the need to fulfil decarbonisation commitments, and the role of the energy industry as a change agent.

Emilio Lamo de Espinosa, President of the Real Instituto Elcano, and Antonio Brufau, Chairman of Repsol, opened the event and spoke about the current situation of the energy sector and the global challenges it must face.

Antonio Brufau answered Emilio Lamo's questions by stating that the energy transition is a great opportunity that companies must take on with innovation, driving R&D and employment. “Spain must showcase its capabilities and hedge its bets on those technologies where we have a competitive advantage. We must lend our support to the industry and its ability to stimulate the economy, given the driving force it exerts on other sectors".

In regard to climate change and decarbonisation, Brufau pointed out that “Repsol has a global outlook on a solution to combat climate change based on the competitive development of technology”. He highlighted that Repsol believes in and is committed to supplying competitive energy on a large scale and with a low risk, delivering competitive products and energy solutions. Consequently, Repsol has placed its bets on technology in products and services.

Repsol's Chairman also mentioned the energy company's commitment to "the objective of decarbonising the economy from a comprehensive and coordinated viewpoint — one that has ambitious goals and takes sensible paths to reach them — in order to achieve a positive energy transition that uses all possible solutions to maximum advantage". One of the keys to this is the Company's Strategic Plan, which includes the development of a low-emissions business, as well as our participation in the O&G Climate Initiative, based on CO2 capture and storage technologies, energy efficiency, and investments in new technologies.

Regarding the matter of an energy union, Antonio Brufau sated that this should be built on five pillars. "Apart from interconnections, the introduction of renewables, and security of supply, it's important to keep in mind technological neutrality and energy efficiency”. He also emphasized that it is highly important that "the European Union design its policies in terms of capabilities and collaboration with other global regions, understanding the global playing field".

Repsol's Chairman insisted that the energy industry is a key element of the European economy and that "environmental objectives should develop strong synergies with the capacity for economic growth and job creation, thereby guaranteeing international stability, in order to prevent the loss of competitiveness and the delocalisation of the industry".

A round table discussion was held following this exchange, with the participation of Mariano Marzo, chair professor of Stratigraphy and professor of Energy Resources at the University of Barcelona; María Luisa Castaño, director of the Energy Department at the Research Centre for Energy, Environment and Technology (CIEMAT); and Simone Tagliapietra, senior researcher at Bruegel's energy area and professor at the John Hopkins School of Advanced International Studies. The round table was moderated by Lara Lázaro, Head Climate Change Researcher at the Real Instituto Elcano.

Mariano Marzo spoke about the role of science and technology in the energy sector. Mariano Marzo spoke about the role played by science and technology in the energy sector. He said that “without science and technology, we will not solve the challenge we have before us”, and emphasized that the energy transition is here to stay, but will require a process that will be neither quick nor easy.

María Luisa Castaño analysed the current situation of energy and energy efficiency technology and made much of the need to continue focusing on research and innovation.

Simone Tagliapietra pointed to the advances made over the last several years on energy issues and how an international consensus was sought and eventually manifested in the Paris Agreement.

The over 150 attendees included government officials, company executives, representatives from different embassies, and experts in international politics.