VISION 2050

A Pathway for the Evolution of the Refining Industry and Liquid Fuels

The EU has the ambitious objective to lead the world in addressing the global climate change challenge.

The EU refining industry is committed to contribute to this objective by continuing to reduce its CO2 emissions and providing the economy and citizens with low-carbon fuels and other products that society needs.

Development of a diversity of energies and energy carriers will give an economy flexibility, resilience and the possibility for the market to select the optimal solution for every sector and use. Liquid fuels, with their unique characteristics will continue to be employed in many transport fields. Therefore, the EU refining industry has an important and enduring role to play in the energy choices of the future, by providing low-carbon liquid fuels to complement low-carbon electrons, gas and hydrogen as energy carriers. Technology and collaboration across industries will facilitate the production of these low-carbon liquid fuels.

The contribution of the EU refining industry can be enhanced by the EU industrial strategy and a policy framework which will enable its transition, while allowing refineries to retain economic viability in the face of a declining domestic market demand and of an increasingly aggressive international competition.