Charterer and shipowner Vitol is moving forward with decarbonisation efforts through a newly created role.
The giant trader has appointed former BlackRock managing director Eduard Ruijs as head of transition.
Ruijs was previously managing director of BlackRock Global Infrastructure Funds and head of the Europe, Middle East and Africa region, with expertise in gas shipping.
He will now oversee the development of Vitol’s growing portfolio of transitional and sustainable investments.
So far the group has committed more than $2bn to these projects.
There is also an “extensive pipeline” of potential projects under review, Vitol said.
The trader is looking at renewable energy generation, biogas, methane capture and the electrification of transport.
“In addition to optimising its performance, Eduard will lead the portfolio’s future development, identifying promising new technologies and developments that fit strategically with Vitol’s core energy business,” the group said.
Ruijs has many years of experience in infrastructure and energy.
He began his career at management consultancy Kearney before moving to The Boston Consulting Group and NIBC Infrastructure Partners.
In 2011, he joined First Reserve Corporation as a managing director focused on the energy sector, before moving to BlackRock in 2017.
Focused on future energy needs
Russell Hardy, Vitol’s chief executive, said: “We are pleased to welcome Eduard to Vitol. We are focused on positioning Vitol for the energy transition and investing in the world’s future energy needs.
“Eduard’s experience and understanding of the energy and infrastructure sectors will be key to building the success of this growing portfolio,” he added.
Ruijs said the success of the energy transition will require huge investment from both the private and public sector.
“I am delighted to be joining Vitol, the largest independent trader of energy to drive this new and exciting part of the business forward,” he added.
Ruijs is joining in May and will be based in London.
