Global Energy Sector: Challenges and Opportunities

07 Jun , 10:00–11:15
The Global Economy in Search of a Balance
Congress Centre, conference hall D1

Global energy markets are constantly transforming and the structure of energy demand is changing as well. According to experts, a slowdown in current and projected rates of global economic growth, increased energy efficiency and phasing petroleum products out of other types of energy resources may lead to a peak in oil consumption in the next 15–20 years. In addition, the role of natural gas as the cleanest fossil fuel and renewable energy sources will continue to grow in the future. All of this is already exacerbating competition on the markets and forcing industry players to enhance the appeal of their oil production projects by drumming up capital inflows and the development of new technologies as well as diversify their project portfolio. What should Russia’s strategy be on oil and gas markets in this regard? Where is the sweet spot between the option of maximizing investment in oil production and striving to increase the market share and the option of continuing intense cooperation with oil producing countries to limit production? Should we expect another long period of low oil price given the lack of cooperation using the model of the OPEC+ deal, on the one hand, and the increased investment in oil production in anticipation of the ‘peak oil’, on the other hand? What are the ambitions of gas market players? What opportunities do global energy markets offer for cooperation and joint promotion in the international arena?

Annmarie Hordern, Reporter, Bloomberg TV

Khalid A. Al-Falih, Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia; Chairman of the Board of Directors, Saudi Arabian Oil Company (Saudi Aramco)
Ben van Beurden, Chief Executive Officer, Royal Dutch Shell Plc
Robert Dudley, Group Chief Executive, BP
Daniel Yergin, Vice Chairman, IHS Markit
Alexander Novak, Minister of Energy of the Russian Federation
Patrick Pouyanne, Chief Executive Officer, Chairman of the Board, Total