WASHINGTON (Sputnik) — This year’s sessions will be held under the banner “Pace of Change: Building a New Energy Future,” and will focus on the changing energy market “at a time of turbulence and uncertainty.”
“The program will examine new forces at work; explore the strategies to meet competitive dynamics and the impact of technology, government policies and the global economy,” according to the organizer's website.
The international policymakers, experts and executives will have an opportunity to discuss their ideas and concerns during the plenary sessions, round tables, insight dinners, as well as strategic dialogues planned for the five-day conference.
“The future of electric power — including fuel choices for generation, new business models and business designs, not to mention the impact of electric vehicle-based power demand—will be a key part of the CERAWeek 2017 program,” conference's Chairman Dan Yergin said.
The event will kick off on Monday with the OPIS (Oil Price Information Service) Supply & Transportation Summit, which was included in the conference’s agenda for the first time. The issues planned for discussions during the OPIS summit vary from technical forecast for oil prices in 2017 to Renewable Fuel Standard outlook under the new US administration to energy trading challenges and opportunities.
Russia’s energy future will be the topic of the special ministerial breakfast and dialogue on Tuesday.
Novak along with Chairman of the Management Board of SIBUR (Russian gas processing and petrochemicals company) Dmitry Konov, General Director of Zarubezhneft Sergey Kudryashov and Transneft’s General Director Mikhail Margelov will participate in the discussion.
First Deputy CEO at Russia’s Gazprom Neft Vadim Yakovlev will participate in one of the plenary discussions on Tuesday.
In addition, on that day, OPEC Secretary General Abdalla Salem Badri and IEA Executive Director Fatih Birol will take part in the plenary “Oil Industry in transition: Where are we in the cycle?” with the press conferences expected to be held following the discussion.
A great number of speakers including Canada’s Minister of Natural Resources James Gordon Carr, Saudi Arabia’s Minister of Energy Khalid Al-Falih, TOTAL CEO Patrick Pouyanne, CEO of Abu Dhabi National Oil Company Sultan Ahmed Al Jaber, President of Kuwait Petroleum International Bakheet Al-Rashidi, Siemens CEO Joe Kaeser will appear in more than 100 keynote, plenary, and other scheduled discussions.
The participants will be looking into energy trading market opportunities, supply and transportation, technology development, and strategies for growth, risks, opportunities, prospects for LNG, supplying gas to Europe, future of exploration, prospects of the economic reform in the Middle East, as well as future of oil and gas in Asia.
The 2017 meeting will wrap up on Friday with a dialogue about the conference’s results, as well as several plenaries related to the United States. The discussion “What’s ahead in Washington?” will feature US Senate Majority Whip John Cornyn and Senate Energy and Natural Resources Committee Chairman Lisa Murkowski. The other sessions will address “The US and the world: The new geopolitics,” and “Where next for industrial America?”
This year’s meeting comes following the OPEC deal on November 30, 2016, when the cartel agreed to cut its oil output by 1.2 million barrels per day for the first six months of 2017 in an effort to stabilize the oil market and bring oil prices to the healthy range of $50-60 per barrel less than $30 per barrel in January 2016. The deal went into effect in January. Eleven non-OPEC countries, including Russia, Mexico and Kazakhstan, later joined the deal, pledging to reduce production by a total of 558,000 barrels per day on a voluntary basis.
CERAWeek is an annual international conference, bringing together energy industry leaders, government officials and experts to discuss key issues of the energy market.
