As energy institutions and companies develop scenarios for the future, the industry is hard at work in determining how to meet future global energy demand while reducing net carbon emissions to zero. While past energy transitions took generations, the industry now faces with three short decades per the Paris Agreement to accomplish the task. And while there is a good understanding of the alternative energy resource mix to draw from as the industry looks to reduce and, ultimately, eliminate carbon from the picture, the challenge is in developing the infrastructure and technology needed to accomplish the task.
In the face of uncertainty, scenario planning and open, inclusive discussion is essential. As Geoff Tuff, principal of Deloitte Consulting, says, the industry must “get out of the business of trying to predict the future and acknowledge that we do not know precisely how it is going to play out. The only way we can act in the near term is to plan for multiple, equally plausible versions of the future.”
Energy transition strategies, innovations and scenarios will be at the heart of both the strategic and technical programmes at the 23rd World Petroleum Congress, taking place in Houston over 5-9 December. The strategic programme will be driven by government ministers from more than 22 countries, industry CEOs and high-level stakeholders from across the world.
Composed of plenary sessions, panels and roundtables, the congress offers high-level discussions organised around five tracks: ‘Industry Excellence in Exploration & Production’; ‘Industry Excellence in Downstream’; ‘Industry Excellence in Industry Innovations’; ‘Energy Realities in a Sustainable Future’; and ‘People, Society and Government’.
Under the theme of ‘Innovative Energy Solutions’, from plenary sessions to technical breakouts, the transformation of the industry is at the forefront of all conversations throughout the congress.
For instance, one strategic session, ‘Energy Realities in a Sustainable Future’, is a moderated session where future scenarios as envisaged by a diverse group of experts will be discussed. The panel—which will be moderated by Remi Eriksen, CEO of international classification society and certification body DNV, and include Keisuke Sadamori, director for energy markets and security at the IEA; Eirik Waerness, senior vice-president and chief economist at Norway’s Equinor; and TJ Wojnar, VP for corporate strategic planning at ExxonMobil—will use the platform to discuss how the world will meet future energy demand while reducing net carbon emissions to zero from an integrated approach.
Other planned forums at WPC, such as ‘New Products for a Sustainable Future’, will discuss the upcoming demand for more complex products, including the expected future demand for petrochemicals. Managing all stages of the lifecycle of refinery and petrochemical production in a more sustainable way, and addressing the circular economy as a cornerstone for the future of the downstream business, is critical in scenario planning, with the reuse and recycling of materials a priority.
This session will be moderated by Whit Keuer, partner, oil & gas and industrial goods & services practice at management consultancy Bain & Company, while the panellists will include Juan Abascal, executive director of industrial transformation and circular at Spain’s Repsol; Steve Prusak, senior vice-president of corporate planning and technology at the US’ Chevron Phillips Chemical; and Venetia Spencer, secretary general of European joint industry value-chain initiative the Polyolefin Circular Economy Platform.
Integrated industry approach
Certainly, all energy transition scenarios discussed at the congress will be based on an integrated industry approach that, by necessity, includes economic, technological, governmental, corporate and human elements. For that reason, WPC topics cover a wide range of multidiscipline energy transition strategies—such as ‘Accelerating Energy Access’, ‘New Petroleum Resources’, ‘Gas as a Transition Fuel’, ‘Low Carbon Energy Options: The Future of Renewables’ and ‘Alternative Energies and Transformation Energy of the Future’—that will focus on solutions for land, sea and air transport, including advanced biofuels, fuel cells and hydrogen, even as technical innovations continue to improve fuel quality and energy efficiency of the internal combustion engine.
Additionally, Congress delegates can explore the exhibition space, where companies will showcase their unique innovations and approaches to the energy transition. Meanwhile special features such as the ‘Innovation Zone’ by ConocoPhillips will give innovators the opportunity to present their latest solutions.
Finally, delegates can experience the ‘Purposeful Journey’, an interactive approach inspired by the UN’s sustainable development goals, on the exhibition floor. Attendees can learn about the positive industry actions related to ‘Energy and Climate’, ‘Collaborative Solutions’, ‘Energy-Food-Water Ecosystems’, ‘Universal Access’, ‘New Energy’ and ‘Purpose and People’.
To find out more and to register, please visit: www.23wpchouston.com
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