Sanusi Barkindo, Secretary General of the Organization of Petroleum Exporting
Countries (OPEC), will take part in the Transformations in the Energy Sector
panel session, which is scheduled for 25 May at the St. Petersburg
International Economic Forum.
This discussion will focus on the growing transformations of
the world economy and the role of energy in this process. The revolution in
cooperation between business and consumers means we all need to either adapt or
hopelessly fall behind. Meanwhile, the
importance of energy sector in global economy is on the rise: a significant
part of the global GDP is achieved through involving new consumers and the
service sector, which presumes available and secure energy supply. The source
is not that important anymore. What matters is its competitive performance and
availability, since energy is consumed in the form of electricity. The choice between the socket and
the gas station becomes more pressing and has a direct impact on long-term
solutions in the fuel and energy sector.
Barkindo, together with Royal Dutch Shell Plc Chief Executive Officer Ben van
Beurden, BP Chief Executive Officer Bob Dudley and IHS Markit Vice Chairman
Daniel Yergin will discuss ways to reduce uncertainty and ensure sufficient
fuel and energy sector attractiveness for investors, in order to avoid
volatility in the future, while maintaining the guaranteed energy supply of the
world economy in 20 years from now. Alexander Novak, Acting Energy Minister of
the Russian Federation, will also attend the panel session. CNN’s Emerging
Markets Editor John Defterios will moderate the session.
“Cooperation with the Organization of
Petroleum Exporting Countries is of great importance to us. Tough times of the
global economic crisis call for joint efforts to improve the market situation.
The session at the St. Petersburg International Economic Forum will help find
solutions for existing challenges,” said Alexander Novak.
of further development of the energy sector as well as international
cooperation in this sphere will be discussed at a number of key sessions of the
upcoming International Forum Russian Energy Week that will take place in Moscow on
3–6 October 2018.