Our CEO, Dev Sanyal, spoke at the Energy Intelligence Forum as part of a panel on European Energy Security, moderated by Jaime Concha of Energy Intelligence.
Together with H.E. Miguel Berger, Ambassador of the Federal Republic of Germany to the United Kingdom, Rt Hon Graham Stuart, Minister for Energy Security & Net Zero UK and Amb. Dora Zombori, Partner, Dentons and former Hungarian energy envoy, they discussed the key elements that impact European energy security and the role of Europe in the energy transition.
The current situation demonstrates what can be done when governments, businesses and customers act decisively. The focus on security and efficiency has enabled a seminal shift in the oil and gas landscape, given the reliance on Russia prior to the war in Ukraine.
And the energy transition is also an important response:
- Diversification and more choice in supply
- Security because it is typically generated domestically
- Sustainability given lower GHG emissions
Governments can accelerate the demand for low carbon energy. An example is the Renewable Energy Directive and the development of minimum renewable fuels targets in different sectors.
In a similar way, companies like VARO can create demand for renewable energies by developing projects and signing new partnerships as the one we have with Lufthansa to supply them with sustainable aviation fuel (SAF). VARO plans to invest $600m in Rotterdam to build a 250 kt SAF production facility.
Partnerships and collaboration are key to continuing progress as the energy system evolves, and Europe can play a leading role in this respect.
Here is also an interview he gave to Ronan Kavanagh.