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EUROFER Welcomes Green Deal

Steel News - Published on Thu, 12 Dec 2019

Image Source: iai.it
The European Steel Association welcomed ambition behind the package and notes the inclusion of sections on supporting zero-carbon steelmaking processes and on carbon border adjustment. EUROFER Director General Mr Axel Eggert said “We welcome the aims of the European Green Deal. In charting a series of sectoral and specific policy plans, it is clear policymakers take seriously the need to transition to a carbon-neutral future with industry, rather than without it. It is now of utmost importance to develop a regulatory framework that creates markets for CO2-neutral products: these have significantly higher production costs, for example because of the use of highly-priced hydrogen instead of coking coal in the steelmaking process. Policymakers must establish, jointly with us, how green steel can compete against carbon-intense, low-cost steel imports that have a significantly higher CO2 footprint than EU-made steel.”

He added “The EU seeks to make Europe the first carbon-neutral continent by 2050, which is a high ambition. The steel industry is already working on a range of low and carbon-neutral solutions that could lead to reductions in CO2 emissions from steelmaking by up to 95% in 2050 under an optimum regulatory framework. It is why a partnership on clean steel, as well as other means to ensure the steel industry remains competitive even as it becomes carbon-lean, is so essential.”

The European steel industry directly employs 330,000 people, with a further 2.4 million indirectly relying on the sector. The transition to carbon-lean steelmaking will annually require 400 TWh of electricity, of which 234 TWh for the production of 5.5 million tonnes hydrogen. EU policymakers must ensure a market exists for this ‘green’ steel, which may cost 35-100% more to produce than it does with the highly optimised processes currently in use.

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Posted By : Rabi Wangkhem on Thu, 12 Dec 2019
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