Oil and gas markets witnessed profound changes on both the supply and demand side over the past three years. Market stability, however, appears more than before, to rest on agreements and technologies yet to be fully tested in the new market setting. Though new unconventional volumes have shortened investment cycles, and policy shifts on the demand side may slow demand growth rates, increasing oil and gas consumption must ultimately be balanced by a return of investment in conventional production and infrastructure.
To discuss energy security in the new market setting, Dr Sun Xiansheng, Secretary General of the International Energy Forum (IEF), and Mr Barry K. Worthington, Executive Director of the United States Energy Association (USEA) co-hosted a First IEF Industry Advisory Committee Workshop in Washington DC on 27 February 2018.
The Workshop explored developments that are reshaping energy markets to help inform dialogue at the 16th International Energy Forum Ministerial that India will host in New Delhi on 10-12 April 2018 under the theme “The Future of Global Energy Security”.
Mrs Andrea Lockwood, Deputy Assistant Secretary for Africa, Middle East, Europe & Eurasia of the U.S. Department of Energy, and member of the IEF Executive Board welcomed participants. To set the stage for two panel sessions with representatives from industry, Dr Linda Capuano, Administrator of the U.S. Energy Administration and Mr Biswajist Roy, Director of Oil India Limited gave key note addresses. Joseph McMonigle, President & Cofounder of the Abraham Group, and Vicky Bailey, Founder of Anderson Stratton International, Director Cheniere Energy, Former Assistant Secretary of International Affairs at DOE, and Chairman of the USAE, moderated discussions on continuity and change in energy markets, and transparency respectively assessing strengths and weaknesses of the new oil and gas market setting and requirements for investment to move forward in future.
Discussions were governed by Chatham House rule, opening remarks and presentations are retrievable below.
Moderated by Joseph McMonigle, President and Cofounder, The Abraham Group
Moderated by Vicky Bailey, Founder Anderson Stratton International, Director Cheniere Energy, former Assistant Secretary of International Affairs at DOE