IOGP Statement on the EU Recovery Plan

IOGP commends the European Commission for the timely delivery of the EU Recovery Plan.

Why Does it Matter?

Covid-19 has triggered unprecedented socio-economic effects, as well as a strong solidarity movement.

IOGP’s members have maintained oil and gas production in Europe and the supply of products, which are essential to the citizens and the European economy. In addition, they have answered Europe’s solidarity call by ramping up the production of Isopropyl Alcohol (used to manufacture hand sanitiser); by donating protective equipment, fuel and funds; and carrying out others internal and external activities to help the fight against Covid-19.

Key Points

• We believe that building a stronger future requires an in-depth assessment of Covid-19’s impact to ensure that both recovery and climate policies are grounded in this new reality
• We applaud he increase in size and scope of InvestEU in the Recovery Plan and hope Cohesion Policy and the Just Transition Fund will consider a wide range of technologies aimed at reducing emissions, including the full array of gas technologies
• We call upon policymakers to value, preserve and capitalise on the existing energy infrastructure, including ‘upstream’ oil & gas assets such as platforms, pipelines, and storage sites