GECF Joins Debate at Fifth IEF KAPSARC Thought Leader’s Roundtable
As part of a series of events (co-)hosted by the International Energy Forum (IEF), the GECF took part in the Fifth IEF-KAPSARC (King Abdullah Petroleum Studies and Research Center) Thought Leader’s Roundtable.
The discussions concentrated on energy markets with the purpose of getting a better grasp of the developments that shape the producer-consumer dialogue on efficiency and innovation to support sustainable and competitive energy supply.
Whereas the growth of renewables is projected to rise in the coming decades, most of the global energy demand in the transport, refining, petrochemical and other sectors will still be supplied by oil and gas. However, in a changing world, the use of hydrocarbons must be managed and used in a more efficient and environmentally friendly way to reduce pollution and eliminate waste.
In order to make this a reality, new technologies in the upstream sector are being deployed in order to provide affordable, clean and high energy-density hydrocarbons while remaining competitive under evolving market conditions and policies.
The roundtable explored the available technological options and their economic viability, the concrete opportunities for increasing efficiency and necessary investments as well as impact on demand and supply.
From the GECF’s side, Mr Dmitry Sokolov, Head of the Energy Economics and Forecasting Department, joined the afternoon session on The Evolution on the Oil and Gas Business Model, debating the impact of investments in efficiency and innovation on the competitiveness of the oil and gas sector and the evolution of its business models. The panel was completed by Mr Adnan Shihab-Eldin, Director General of the Kuwait Foundation for the Advancement of Sciences and Mr Anas Alhajji, Managing Partner at Energy Outlook Advisors.