Istanbul (Turkey), 10 July Alexander Novak, Minister of Energy of the Russian Federation, spoke at the plenary session of the 22nd World Petroleum Congress «Bridges to Our Energy Future».
The discussion was attended by Darren Woods, Chairman of the Board of Directors and CEO of ExxonMobil, Amin H. Nasser, President and CEO of Saudi Aramco, and Ben van Beurden, CEO of Royal Dutch Shell plc.
The participants focused on the directions of world energy development. Alexander Novak claimed that, in the era of the fourth industrial revolution, in the «age of electricity», the energy source is not that important. What is important is that it must be available upon demand, competitive in price, and have clear and generally accepted consumer qualities.
«The main question we are facing is how we can guarantee an uninterrupted supply of energy to the world economy, irrespective of the political and economic volatility», said the Russian Minister of Energy.
Among the aspects affecting energy markets highlighted by the Minister were evolution of the fuel balance, technological progress, and the rules being shaped for trade, financing and technological exchange on the energy markets.
The participants in the plenary session arrived at a consensus that the worlds demand for energy will grow, though the structure and geography of this demand will change significantly. Alexander Novak assumed that, by 2040, the demand for energy will have increased by at least 25%. At the same time, growth rates are likely to decline, largely owing to technological progress and increased energy efficiency.
«There will be a deep reform of the markets geographical structure, with the expected stagnation or reduction in energy consumption in OECD countries, the centre of consumption growth will shift to the AMEA Region, where consumption will grow at least 1.5-fold», said the Minister.
The Head of the Russian Ministry of Energy also noted that renewable energy sources will be the fastest growing sources of energy: «The share of RES and nuclear energy will have increased in the world energy balance from 15% to 23% by 2035.»
Among the key trends in technological progress, Alexander Novak named energy, digital and biotechnology, artificial intelligence and robotics, materials science, as well as infrastructure and transport reformation. «Development of such technologies requires a new level of collaboration between scientific teams, manufacture, and government structures. In this context, it is possible to maintain competitiveness only by joining forces with like-minded people», highlighted the Minister.
According to the Russian Minister of Energy, only open trade links and technological collaboration based on commonly agreed rules and standards will contribute to development of the global economy and international cooperation: «Progress stipulates cooperation between market participants during joint project implementation, creation of new mechanisms for joint situation monitoring and analysis, financing and execution of research and development activities.»
As part of the Congress, heads of national oil committees of the World Oil Council were given official invitation from Russian Energy Minister Alexander Novak to take part in the Russian Energy Week-2017l.
The Russian Energy Week will take place in Moscow at the Central Exhibition Hall Manege on 47 October 2017. The event aims at demonstrating the prospects for the Russian fuel and energy industry and realising the potential for international cooperation. The Forum will be attended by heads of major global and Russian energy companies.
The Roscongress Foundation is the operator of the Russian Energy Week.
The Roscongress Foundation is the biggest organiser of convention and exhibition events.
The Roscongress Foundation was set up in 2007 to promote development of the economic potential and consolidation of the image of Russia through organisation and holding of congresses, exhibitions and public events. The Foundation is responsible for their content, providing consulting, informational and expert support for companies and organisations. It also comprehensively studies, analyses and highlights questions of the Russian and global agenda.
The Foundations current annual programme includes events from Montevideo to Vladivostok, allowing leaders of world business, experts, the press and public officials to gather at a single venue, to create the best conditions for discussing and promoting new ideas and projects, and to assist in the formation of social enterprise and charitable projects.