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Tension between Fossil Fuels, Renewables Artificial: IEF Analyst

(Thursday, October 12, 2017) 19:59

TEHRAN, Oct. 12 (Shana) -- An analyst at the International Energy Forum (IEF) says many of the tensions observed to exist between fossil fuels and renewables are artificial and do not exist in reality.

Addressing a session at the 3rd Iranian Petroleum and Energy Club Congress and Exhibition in Tehran on Wednesday, Chiritof Van Agt, an analyst at the International Energy Forum (IEF), said he believes that most of the fossil fuels-renewables tension is unreal.

He said: “Many of the tensions we see between the Renewables and fossil fuels are pretty much artificial.”

“I would like to focus on the projections that the International Energy Agency (IEA) and the Organization of Petroleum Exporting Countries (OPEC) and other agencies have put out to give us a perspective on where we are going as far as oil Market is concerned in light of energy transition.”

During his lecture, he focused on the impact of energy transition on the use of fossil fuels and said: “Let me be very clear and give you my point of view the straight out before I go through further details; I believe fossil fuels and the Renewables are not an opposition and can and should be working together to ensure sustainable energy Market development.” 

He said the certain questions needed to be asked in this regard include: How can we shape the future of energy transition and the oil Market? Where are we in the path of energy transition? When is a turning point?

Van Agt noted that the renewable energy uptake must gain acceleration in order to ensure that energy security is a guiding force of transition. 

He said: “So, enhanced policy and technology cooperation will make transition pathways more transparent and strengthen investment confidence and enhance market stability which is at the heart of the energy forum.”