PtX Lab Lausitz proposes expanding the Strategic Oil Reserve with PtL fuels
Copyright: PtX Lab Lausitz
The position paper outlines how the incorporation of PtL can be implemented regulatorily to strengthen Germany’s economic and security policy resilience.
The war against Iran and the near total closure of the Strait of Hormuz have led to a marked tightening of the global oil supply and to rising prices. To address this situation, Germany and other countries have released their strategic oil reserves.
In the PtX Lab Position “Extension of the Oil Stockpiling Act: Include PtL-fuels to strengthen Resilience and Climate Protection”, the PtX Lab Lausitz proposes how the necessary future re‑stocking can be used strategically to strengthen Germany’s and the EU’s economic and security‑policy resilience.
Key point: PtL fuels should be incorporated into the strategic oil stockpile. In a three‑page paper from the “PtX Lab Position” series, the authors outline precisely which amendments to the national Oil Stockpiling Act (ErdölBevG) would be required.
From the PtX Lab Lausitz’s perspective, incorporating PtL fuels into the strategic oil stockpile has the potential to make Germany’s and the EU’s energy supply more independent, because these fuels can in principle be produced within the European single market. In a crisis, successful market uptake would therefore provide, at least partly, a domestically producible base of fuel and raw material within Europe.
At the same time, adapting the Oil Stockpiling Act could also help to kick‑start the PtL market. A corresponding regulatory inclusion would broaden the demand base, create additional investment incentives and thus aid the scaling‑up of production capacity. In the medium to long term, this would be expected to generate cost degressions and improve the competitiveness of PtL fuels.
All details of the proposed legislative extension and the associated potentials can be read in the publication here.
Contact
Felix Schmermer
Head of Section PtX Policy & Market Ramp-Up
+49 162 72 44 695
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