Low Carbon Pathways CO2 efficiency in the EU Refining System. 2030 / 2050 – Executive Summary (Interim report)
This executive summary describes part of the work being conducted by Concawe with the objective to explore a range of Low Carbon Pathways with the potential to reduce the CO2 emissions associated with both the production and use of refined oil products. This summary demonstrates that the effective deployment of different technologies has the potential to achieve a significant reduction of the CO2 emissions associated with oil refining by 2050.
The gradual decarbonisation of the EU electricity grid will offer new ways to integrate low-carbon electricity into the production system, while CO2 Capture technology will enable refineries to make CO2 available for either storage (CCS) or use (CCU) thereby integrating the EU refining system into a circular economy. External factors such as future energy prices together with more effective R&D programs will play a role in boosting the deployment of the key technologies identified.
It is important to note that this works is not intended to be a roadmap for the whole EU refining industry. Factors such as the CO2 efficiency of existing facilities coupled with local and structural constraints will determine individual refineries’ preferred route to contribute to mitigate climate change. Whilst this report summarises opportunities to improve the CO2 efficiency of the EU Refining system, other studies are underway