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The oil and gas sector can become a protagonist in the transition to cleaner energy
Since the beginning of the Industrial Revolution, the oil and gas sector has been essential to the global and Brazilian economies. With a large share of GDP and a strong energy demand, the sector now faces a new challenge: it undoubtedly needs to adapt to ensure a sustainable future. In this way, it maintains its relevance while also reducing carbon emissions.
The Economic Importance of the Sector in Brazil
The economic impact of the oil and gas sector in Brazil is undeniable, both in terms of energy supply and job creation. According to the Brazilian Institute of Oil and Gas (IBP), it accounts for 17% of industrial GDP and almost half of the primary energy supply. Even with the advancement of clean energies, the sector will continue to be relevant, as even today, 80% of the world's energy matrix depends on fossil fuels.
Why Gradual Transition is Essential for Competitiveness
Energy transformation is necessary, but it is also extremely complex and must be gradual. According to IBP president Roberto Ardenghy, this change must be “fair and efficient”, respecting the time for technological innovation. This will ensure competitive energy and avoid economic impacts.
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Industry Infrastructure Facilitates Transition
With a consolidated structure, the oil and gas sector is prepared to adapt its operations to a low-carbon economy. To this end, for example, an essential strategy involves reusing assets for hydrogen transportation, which extends the useful life of facilities and reduces waste. In this way, this adaptation optimizes resources and reduces costs.
Investments in Alternative Energy: A Promising Path
The sector has already started investing in alternative energy sources to meet sustainability requirements. According to the IBP, in 2023, around 15% of the R$3,9 billion in research was invested in energy efficiency and renewables, demonstrating the commitment to the future. Furthermore, the approval of the Fuel of the Future project reinforces this commitment, increasing the proportion of biofuels and reducing the carbon footprint.
Overcoming Regulatory Challenges and Planning for the Future
Although there have been important advances, Brazil needs to strengthen regulations to encourage alternative energy sources and make new investments viable. According to Ardenghy, coordinated policies are essential to ensure energy competitiveness and accessibility. João Victor Marques, from FGV Energia, adds that transparent public policies are essential for a fair transition.
The oil and gas sector has a key role to play in the energy transition, with the infrastructure and experience to lead the way towards a more sustainable energy mix. In addition to being crucial to the Brazilian economy, the sector is already investing in low-carbon technologies and has policies that encourage renewable sources. For this transition to occur in a balanced manner, planning is needed, ensuring energy security and maintaining the sector as a protagonist in this new era.
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