Clean energy in focus at Budapest Energy Summit


Questions about the transition to a world of sustainable, clean energy were discussed by speakers at the Budapest Energy Summit on Tuesday, on the second day of the four-day event, according to a press release sent to the Budapest Business Journal.

The second day of the international event was opened by Minister of State for Energy and Climate Policy P茅ter Kaderj谩k, who said that clean, smart and manageable energy must be ensured, and that this is now the goal of Hungary始s new energy policy concept.

Kaderj谩k indicated that Hungary could cut greenhouse gas emissions by 40% by 2030, compared to their 1990s level, while maintaining economic growth. Emission聽reductions are not the only goal of climate protection, he noted, but the costs of such reductions to the consumer must also be considered. Consequently, he stressed the importance of promoting all forms of energy saving and聽energy efficiency.

During the day, the future role of natural gas and its contribution to the energy market transition聽were also discussed at several panel discussions. According to the speakers, the development of聽natural gas infrastructure is unavoidable for the future security of supply.

Besides pipeline聽investments, the development of European LNG import capacities also appears necessary. At the LNG terminal on the Croatian island of Krk, capacity bidding offers are awaited by the project company until December 19,聽recalled Barbara Dori膰, managing director of LNG Croatia, the company responsible for the development of the terminal project. At the moment, it appears that the聽terminal can be put into operation from the end of the decade, she added.

Another panel discussed the future of nuclear power generation. J谩nos S眉li, minister without聽portfolio responsible for the expansion of Hungary始s Paks Nuclear Power Plant, said the investment is inevitable for both the security of electricity supply in Hungary and for sustainability. He noted that while the government is not聽against the development of renewable sources, nuclear and renewable energy will together be聽able to secure the security of Hungary始s energy supply. He recalled that not only in Hungary,聽but also in the EU, a significant amount of power plant capacity will need to be replaced in the聽coming decades.

One notable part of the Tuesday program was a panel discussion featuring L谩szl贸 Varr贸, chief economist of the International Energy Agency (IEA), and Spencer Dale, BP始s chief economist, after the presentation of the BP Energy Outlook. Both said they believe the current energy trajectory does not ensure sustainability, and requires governmental聽and regulatory action.

At today始s discussions, the Budapest Energy Summit is set to focus on industrial innovation and digitization.


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