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Strategy

The energy sector is strongly influenced by the economic and geopolitical context, which has caused disruptions in the supply chain and price fluctuations. In this scenario, Galp remains committed to sustainable value creation and decarbonisation. The strategy is based on a balance between investment in low-carbon solutions and the guarantee of affordable and safe energy.

These strategic priorities are based on disciplined capital management. Around 65 per cent of planned gross investments are directed towards growth and transformation projects, while approximately 35 per cent are earmarked for low-carbon initiatives.

Business drivers

Strategic and selective growth Upstream Galp will continue to develop its unique and competitive portfolio. Oil and natural gas production is currently concentrated in Brazil's pre-salt. Promising exploration projects also remain in the portfolio in Namibia and São Tomé and Príncipe. Results generated by the Upstream business are fundamental to driving growth and financing the company's transformation.
Flexibility, competitiveness, and agility Industrial and Midstream Galp is transforming its industrial activities to produce low-carbon molecules and decarbonise its operations. In Sines, energy efficiency, green H2, HVO, and SAF projects are progressing. Midstream activities support this transformation, optimising the value of different products and integrating new chains. Focus on the diversification and optionality of the NG/LNG portfolio, a transition fuel.
Consolidation of leadership position Commercial Galp seeks to sustain and consolidate its leadership positions in Portugal and relevance in Iberia. The growing focus on convenience, digitalisation, non-fuel alternatives, and low-carbon solutions is an expression of this ongoing commercial transformation. Highlights include the new store concepts, the expansion of the network of charging points for electric mobility, and the installation of solar solutions for self-consumption.
Production and integration of renewable energy Renewables and New Businesses Galp will continue to develop its solar portfolio in Iberia. The green electrons produced will support the transformation of industrial activities and commercial supply, although they are still scarce in relation to needs. At the same time, Galp is developing hybridisation and storage opportunities, using wind power generation and energy storage batteries in solar parks.
Source: Integrated Management Report 2024 Last Update: 07 April 2025

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