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The urgency needed to start implementing the principles of the net-zero goal came up for debate between regional and global experts at a session during the Global Energy Forum.
The forum took ‘The Geopolitics of Energy Transition’ as the theme to explore the challenges of ‘Oil and Gas in a Net Zero World’ and to be in alignment with the net-zero ambitions of energy industry leaders.
The Global Energy Forum is being hosted by the Atlantic Council in collaboration with the World Government Summit (WGS2022) a high-powered panel of international experts included Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the UAE Ministry of Energy and Infrastructure, Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (Opec), Dan Brouillette, President of Sempra Infrastructure, Dr Helima Croft, Managing Director and Head of Global Commodity Strategy at RBC Capital Markets, Hunter Hunt, CEO and President of Hunt Consolidated Energy, and Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC).
Discussing points of view through the forum about global climate change conferences, such as COP27 in Egypt and COP28 in the UAE, panellists said decisions need to be taken that will affect positively in investment and infrastructure development to solve recent and proactive solutions for global challenges.
Al Olama stated the impact of today’s geopolitical situation means that investing in the oil and gas sector is crucial to connect the challenge of the investment alongside with the transition to more sustainable and diversified energy.
Barkindo said: “Using the conference COP27 in Egypt to begin redefining the conversation and the role of oil and gas in the global energy community is a major opportunity to shape the future”. He added: “We need to show inclusiveness and ensure it for all energy as we agree the climate goals and that role of oil and gas are not mutually exclusive, to help in leading towards a more sustainable energy transition for the future.”
Taking an international perspective, Brouillette said the oil and gas industry can “reset” by encouraging new dialogues between all parties to enable each person in the society to bring more clarity to the transition path that we need to follow for positive changes in the future.”
Dr Croft affirmed the challenge of implications and impact of future infrastructure and investment to achieve the goals of net-zero by the governments and the challenge of urgency to start implementing the principles of the net-zero goal.