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May 29, 2019

Energy is one of the Key Topics of the SPIEF 2019 Business Programme

The development and modernization of the energy sector will be one of the key topics of the St. Petersburg International Economic Forum business programme.

In 2015, the UN member states unanimously supported the resolution ‘Transforming Our World: The 2030 Agenda for Sustainable Development’. The agenda defines an action plan for raising the living standards, preserving the planet and achieving prosperity. Oil and gas will retain a systemic role in the global structure of energy resources. The on-going development of the industry will be the key to eliminating hunger and poverty, reducing social inequality and ensuring a good living standard, which is mandatory for sustainable development.

The Energy Panel is a significant event of the business programme of the St. Petersburg International Economic Forum 2019. The session will present a comprehensive analysis of the sustainable development of the oil and gas industry, highlighting its multinational, multicultural nature and geographical diversity. During the discussion, participants will exchange views on trends in energy markets and the transformation of the global oil and gas industry, the influence of geopolitical factors on the markets, and evaluate the potential for cooperation and innovation for an effective transition to a low-carbon economy. State Duma member, journalist, author of the Mezhdunarodnoye Obozreniye (International Review) programme on Russia-24 TV channel, chairman of the supervisory board of the Russian Humanitarian Mission autonomous non-profit organization Evgeny Primakov and Chairman of the Sasakawa Peace Foundation, executive director of the International Energy Agency (2007–2011) Nobuo Tanaka will moderate the session. Igor Sechin, Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors of PAO Rosneft is to deliver a key presentation.

The session ‘Global Energy Sector: Challenges and Opportunities’ is a part of the ‘The Global Economy in Search of a Balance’ track. World energy markets are continually transforming, including the ever-changing structure of energy demand. Experts agree, that slowing down of the current and forecasted pace of global economic growth, boosting energy efficiency and replacing oil products with other types of energy sources may peak out oil consumption in the next 15–20 years. At the same time, in the future, the share of natural gas as the cleanest fossil fuel and renewable energy sources will grow. All this already today is exacerbating competition and requires markets participants to improve their oil production projects, stimulating capital inflow and the new technologies development, as well as diversification of the project portfolio. The panellists will discuss Russia’s strategy for oil and gas markets, as well as striking the right balance between maximizing investment in oil production, seeking to increase market share and the option of continuing close cooperation with oil-producing countries to limit production. Bloomberg TV Reporter Annmarie Hordern will moderate the session. Among the speakers is the Minister of Energy of the Russian Federation Alexander Novak, Chief Executive Officer of the Russian Direct Investment Fund Kirill Dmitriev, CEO of Royal Dutch Shell Plc Ben van Beurden. 

A strategic pathway for energy companies in the platform economy will be discussed at the so-named session. Energy companies are the infrastructural pillars of economies, which historically were an advantage, but in the context of a platform economy, it is instead a limitation. The meeting participants will study the new development vector in the era of uberization and the ways for energy giants to integrate into the new market format. The moderator of the meeting is Secretary General and Chief Executive Officer of the World Energy Council (WEC) Christoph Frei. The meeting participants are the Minister of Energy of the Russian Federation Alexander Novak, Chairman of the Management Board of PAO Rosseti Pavel Livinsky, CEO of Enel S.p.A. Francesco Starace.

«The global energy transition is in full swing, driven by decarbonisation, digitalisation, decentralisation, changing needs of future consumer and a wider industrial revolution. Russia has critical resources and technology skills to remain one of the world’s most important energy players,” said Secretary General and Chief Executive Officer of the World Energy Council (WEC) Christoph Frei.

The ‘Technologies Shaping the Future’ track includes two energy industry sessions. Participants of the ‘Digital Subsoil Use’ session will discuss measures necessary for subsoil use to become one of the drivers of the digital economy development and the significance of the digitalization of subsoil use for Russia’s strategic development. The session ‘From Raw Materials to Services: The Digital and Technological Transformation of Oil and Gas Companies’ will discuss the ways for Russia to take advantage of its enormously potent fuel and energy complex in accelerating the technological evolution and digitalization of our economy, when the times comes to depart from the business strategy of selling oil and derivatives towards digital services and technologies, and whether it is worth investing in oil and gas chemistry whilst growing demand for new materials.

PAO Rosneft and the China National Petroleum Corporation (CNPC) the with the support of the Roscongress Foundation organized the Second Russian-Chinese Energy Business Forum at the SPIEF to develop a dialogue between Russia and China in the energy sector, increase efficiency, expand the portfolio of joint projects, and attract investment.