Against the background of growing demands for energy sustainability, Europe needs to rely on its own resource base where it is economically competitive, and on the accelerated development of renewable energy, storage and electrification. Promoting oil and gas exploration and production in such countries should be seen as part of a broader strategy to strengthen energy resilience and strategic capacity.
This was stated in an interview with GuildHall by Jarand Rystad, an energy market expert and CEO of Rystad Energy.
– What steps can Europe take to achieve energy independence? What changes in energy policy priorities should the EU implement to strengthen energy independence in the coming years?
– Accelerate the development of solar and wind energy, as well as storage systems (batteries) — adjust regulations to stimulate the rapid introduction of such facilities. Modernize power grids, including cross-border power lines. To develop geothermal generation, geothermal storage and other technologies for long-term energy storage. Expand the use of biomass for industrial purposes, including biogas, biomethane, bioliquids and solid biomass. To stimulate electrification — electric cars, heat pumps and electrical solutions in industry. A further increase in oil and gas storage capacities is to increase the filling level before the consumption season.
– How do you assess the idea of increasing domestic oil and gas production in Western countries, especially in terms of its potential impact on defense capabilities?
– Limited potential; accelerate the development of solar and wind energy, as well as storage systems (batteries) — adjust regulations to stimulate the rapid deployment of such facilities; Further increase in oil and gas storage capacities — increase the occupancy level before the consumption season. However, it makes sense for countries with competitive oil and gas resources, such as Norway, to stimulate oil and gas exploration, development and production. The potential for increasing oil and gas production in continental Europe is limited — this will be more expensive than imported resources and more expensive than energy from renewable sources.
– In the context of potential military threats and large-scale crises, how sustainable is the energy system, based mainly on renewable sources, in ensuring uninterrupted power supply for defense needs, and what additional energy sources may be required to maintain stability?
– Renewable energy systems, such as wind and solar power, as well as batteries, are generally distributed over a wider geographical area than traditional energy facilities, and therefore require more military resources to destroy them. In addition, distributed energy storage systems based on batteries are more stable and can provide emergency power supply even when the connection to the grid is lost. Small diesel or gasoline generators further increase the stability of the system based on renewable energy sources. However, generators are concerned with the risk of local pollution, including hazardous carbon monoxide, oxygen deficiency and noise pollution. Therefore, household battery systems are an attractive addition, as are vehicles with V2L (vehicle-to-load) functionality, as well as long-range hybrid cars that can use fuel to generate electricity. Wood, pellets and coal can also serve as emergency sources of energy for heating and cooking.
Exclusive to Guildhall.
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