London — Europe has failed in its energy transition, the chief executive of Spain’s biggest oil and gas firm Repsol told the Reuters Energy Transition Europe 2022 conference on Wednesday, citing especially the repercussions of the war in Ukraine.
Josu Jon Imaz said Europe failed to guarantee its own energy security by having been too dependent on Russian supplies, did not make energy sufficiently affordable and fell short of decarbonisation plans to confront global warming.
Carbon emissions on the continent were down, Imaz added, but were being shifted to other places as industrial activity in developing economies increased.
Repsol was trying to address a crunch in scarce and expensive diesel by ramping up refining but there was no quick fix, he added.
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