Brufau: “It’s nonsense to import fracking gas from the USA and ban this technology in Europe” |  company

Brufau: “It’s nonsense to import fracking gas from the USA and ban this technology in Europe” | company

Repsol President Antonio Brufau has denounced the contradiction that Europe will import from the United States a gas that will be exploited through the mechanism of “fracking” (hydraulic fracturing), which Europe is banned from despite “great opportunities” for gas exploration with this procedure.

During a colloquium this Wednesday to mark the Green Motor Fund’s presentation on investing in reforestation, Brufau asked what kind of problems countries like Germany are facing due to dependence on Russian gas, a supply threatened by Russia’s invasion of Ukraine of gas will the President of the United States, Joe Biden, send to ensure Europe’s gas supply?

Antonio Brufau has said it will be the gas that will come from exploring the deposits through “fracking,” a technique he says Europe has banned.

“Now we will buy ‘fracked’ gas from the United States, while we will not do so in Europe, where we have great opportunities to explore gas using the ‘fracked’ mechanism,” said Brufau, who pointed out that the environmental impacts that the United States are doing are the same.

He recalled that the energy transition is moving from one point to another, calibrating the cost-efficiency of what is being done “very well” and warned that if an “energy revolution” is intended, it is a transition , “it can ruin everything”.

In this sense, he referred to the electricity pricing system, a “model of the past” that does not take into account the importance of renewable energies and conditions the gas price to the electricity price.

“It’s breaking the system a bit by making decisions that didn’t take the whole system into account,” said Brufau, who recalled this before changing the European taxonomy so that gas could be among the fundable technologies, based on sustainability criteria, it said , it has no future.

Repsol’s chairman has wondered what gas producers should do in the face of claims that gas is not a technology of the future and whether they should stop investing in gas exploration.

Brufau explained the result is that there is less gas and the demand is the same because it doesn’t change “no matter how much the regulation asks” and in the end there is less gas, with the same demand and at a higher price.

He also referred to the consumer discount on fuel and recalled that Repsol had anticipated the government’s decision with a discount of 10 cents per liter as part of its commercial policy.

He has suggested that ten cents a liter of fuel “is almost a loss” but “society needed it and a company like ours that makes big money in many conventional sectors can afford to lose to help society.” “