Hungary Presidency Fuel Conference

In the second half of 2024, Hungary is holding the Presidency of the Council of the European Union. To meet the EU’s objective of climate neutrality by 2050, and in consideration of the “energy trilemma” of sustainable, affordable and secure/reliable energy system, a low-carbon transition of the industrial value chain is needed. This in turn requires a coordinated set of sectoral industrial strategies under the umbrella of a comprehensive, long-term EU industrial policy to safeguard industrial competitiveness and make the transition affordable to consumers.

Dedicated strategies to implement the EU Green Deal, for batteries, for hydrogen and for critical raw materials are commendable examples of initiatives in support of the low carbon transition. However, there is an evident gap: the lack of a liquid fuels transition strategy, dedicated to advance the transition from fossil to renewable liquid fuels, for an accelerated, affordable and resilient decarbonisation of all transport modes while ensuring the security of supply.

The High-level Event of the Permanent Representation of Hungary aims to kick start a policy debate among industrial stakeholders, policymakers and civil society on how to build a common vision on the transition from fossil to renewable liquid fuels and on how to upscale renewable liquid fuel and products manufacturing capacity in the European Union.

IRU Director of EU Advocacy and General Delegate Raluca Marian will be speaking on the panel “European strategy for the transition of liquid fuels and other refining products”.