Draghi Report: a pragmatic pathway to Competitiveness, Sustainability, and Resilience

Brussels, 10 September 2024 – The International Association of Oil & Gas Producers, Europe (IOGP Europe) welcomes the Draghi Report for its comprehensive and pragmatic assessment of Europe’s energy challenges. The report effectively combines ambition with realism, addressing key concerns around energy security, competitiveness, and sustainability.

We welcome the report’s alignment with many of our Manifesto 2024-2029 recommendations:

Energy Security:

• The focus on securing energy through long-term LNG contracts, domestic natural gas production, and infrastructure bottlenecking is essential .

Productivity and Innovation:

• Another strong call to end overregulation and speeding up permitting processes, crucial steps to boosting Europe’s productivity and competitiveness.

Pragmatic Decarbonization:

• Leveraging all available low-carbon solutions to achieve decarbonization without undermining industrial growth.

François-Régis Mouton, IOGP Europe Managing Director, stated: “The Draghi Report puts the finger on the risks to Europe’s prosperity, and its survival in the modern era. Its pragmatic approach aligns with our call to balance environmental and economic goals, so that Europe may fulfill its ambitions while keeping citizens and companies on board. ”

Overall, this report serves as a much-needed wake-up call for urgent and concrete actions. IOGP Europe remains committed to providing constructive contribution  to European institutions, Member States and stakeholders