2024-2029 MANIFESTO

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IOGP’s 80+ Members account for 90% of Europe’s oil and gas production and 40% globally

Europe is the global leader of gender equality in the oil and gas industry

Resilience

Objective

A society of values cemented by security and prosperity by security and prosperity

Industry contribution

Supplying energy safely to meet society’s needs

Providing stability to an increasingly renewable-based energy system

How does our industry support resilience?

We supply energy from abroad and produce Europe’s domestic resources to help substitute Russian energy imports

Gas-fired power plants and low-carbon hydrogen can step in when renewable electricity sources are unavailable

Policy Recommendations

Preserve Europe’s attractiveness for global energy suppliers by:

  • Ensuring the functioning of the EU’s integrated and competitive energy market
  • Limiting distortive interventions which can have counterproductive consequences

Maximize the use of the EU’s own oil and gas resources by:

  • Including them, where possible, in National Energy & Climate Plans
  • Removing unnecessary barriers to the exploration, development and production of resources in Europe

Diversify and secure the EU’s long-term energy supply by:

  • Promoting long-term gas supply contracts with reliable suppliers
  • Supporting the exploration & production of Europe’s significant oil & gas resources

Sustainability

Objective

A leader in climate ambition and low-carbon technologies

Industry contribution

Reducing emissions across our operations while providing
mitigation solutions to emitters

Growing investments in
renewable and low-carbon technologies

How does our industry support resilience?

Our Members aim to help achieve near zero methane emissions across the gas value chain and we encourage our partners to do the same.

Our industry invests in a broad
spectrum of large-scale renewable
energy, low-carbon hydrogen and
Carbon Capture Use and Storage (CCUS) projects in Europe and the world.

Policy Recommendations

Develop opportunities for all available
mitigation technologies by:

  • Accelerating the deployment of CCUS by recognizing and using its full potential, including achieving negative emissions 
  • Supporting low-carbon hydrogen demand through a level playing field

Reduce European methane emissions
further by:

  • Taking cost-effective, feasible, risk-based measures which maximize environmental impact
  • Ensuring informed policymaking to address all sources of methane emissions effectively

Repurpose legacy assets and develop new infrastructure by:

  • Developing and adapting infrastructure where appropriate to transport hydrogen and CO2, including across borders
  • Reusing and repurposing oil & gas platforms and pipelines no longer in use to produce and transport  renewable energy and/or hydrogen

Competitiveness

Objective

An economic power with an innovation edge

Industry contribution

Innovating to modernize strategic industrial assets and create jobs fit for the energy transition

Leveraging our workforce’s global project execution skills to supply Europe with affordable energy along the transition

How does our industry support resilience?

We develop low-carbon solutions for hard-to-abate sectors, accompanying them on their journey to net-zero.

Our multicultural companies give young professionals international experience and transferable skills which they can use to lead a broad range of energy projects.

Policy Recommendations

Continue attracting large-scale investments needed to transition by:

  • Ensuring the stability of fiscal regimes in Europe
  • Preserving the competitiveness of Europe’s strategic industries and effective functioning

Create net-zero technology leadership opportunities by:

  • Developing and strengthening global energy partnerships with Europe’s reliable trade partners
  • Promoting the European energy industry’s low-carbon technology solutions globally

Support a Just Transition by:

  • Protecting vulnerable consumers and strategic sectors through targeted financial support
  • Reskilling the energy workforce to reduce operational emissions and deploy low-carbon technologies