Europe reviews cost of maritime energy transition
The European Commission said October 4 it was cognisant of the supply-side pressures in the marine sector’s energy transition, adding there was room for so-called bridge fuels.
Trade groups representing the maritime sector have expressed concern that parts of the bloc’s Fit for 55 proposal – sweeping legislation that targets a 55% reduction in greenhouse gas emissions by 2030, relative to 1990 levels – could lead to escalating costs for some of the very commodities necessary to reach that goal.
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Speaking at a forum hosted by European news outlet Euractiv, Roxana Lesovici, a spokesperson for the European Transportation Commission, said the bloc was aware of the financial concerns at play.
“Massive investments in infrastructure, not just in fuels and on the side of the ships, will be required,” she said. “We are very much aware of that. We will walk the talk.”
Shippers, along with the power-generation sector, are searching for cleaner fuels as part of the transition away from fossil fuels. But some of the technology behind those cleaner fuels is in the nascent stage, so bridge fuels such as LNG are necessary for Europe’s decarbonisation efforts.
“We have to be aware of the constraints in which industry is operating right now, and right now the truth of the matter is that you still have very little renewables and hydrogen or decarbonised forms of energy available in Europe,” said Joaquim Nunes de Almeida, director for energy-intensive industries and mobility with the European Commission’s DG GROW.