Pressemitteilung: A Strategic Industrial Asset Europe Cannot Afford to Lose / Refining is a strategic pillar of Europe’s energy security, defence readiness and industrial resilience, not a legacy industry. Liquid and gaseous fuels will remain essential for aviation, maritime transport, petrochemicals and other hard-to-electrify sectors, while also continuing to support parts of road transport because of their energy density, storability, transportability and reliability. Our refining and fuel manufacturing base powers Europe’s industrial ecosystem, supplying transport, defence and other critical services, as well as feedstocks for chemicals, construction, agriculture and manufacturing. Yet high energy costs, carbon prices, regulatory fragmentation and investment uncertainty are eroding competitiveness and risking further closures. Failing to recognise the sector as strategic would have far-reaching consequences: greater import dependence, price shocks, job losses, industrial decline and slower transport decarbonisation. Every refinery closure is irreversible, and a hypothetical replacement through greenfield low-carbon manufacturing plants would be unsustainable in both cost and time required. Europe must choose: produce fuels and feedstocks at home while transforming its industry, or rely increasingly on others. A credible transition requires converting existing refineries. This is the fastest, most cost-effective and most secure path to scaling renewable and low-carbon fuels, while preserving strategic autonomy and avoiding stranded assets. (....)