All of the world’s largest oil companies (Supermajors) will be in attendance at next month’s Gastech. The event will be an important platform for industry experts to explore and address the difficult and controversial topics facing the sector, and will be the stage for networking and deal-making amongst the key players in established and emerging energy markets.
Gathering to discuss the topics that are at the forefront of the energy sector, leaders from the industry will sit side by side to debate issues around the future of the LNG industry. Business heads including ExxonMobil president Robert Franklin, vice chairman Michael K. Wirth from Chevron, Qatargas CEO Khalid bin Khalifa Al-Thani, Total chairman and CEO Patrick Pouyanné, and Ryan Lance CEO of ConocoPhillips, will gather to discuss the changing global market. The Supermajors that will be in attendance represent energy businesses with a combined market value of over $1 trillion.
Following the Paris Energy Agreement, which addressed global climate change, and made it legally binding for nations to strengthen their global environmental efforts, there has been a worldwide transition to cleaner forms of energy. This shift towards renewable energy sources, is changing the energy composition and the purchasing habits of a significant number of countries.
Whilst the Supermajors of the past were defined by the scale of their operations, the Supermajors of the future will be defined by the quality of their operations and their ability to diversify successfully in today’s modern climate. Gastech 2017 will be the platform for energy businesses to not only explore imperative topics, but to network and secure partnerships and deals.
BP recently predicted that the world economy will double by 2035, and that energy demand will increase by 30 per cent. The Supermajors expect that energy consumption will experience an annual growth of 1.3 per cent per year, meaning that as the role of renewable power increases within the global energy mix, major oil companies are having to seek new inventive strategies that can produce a sustainable competitive advantage.
Ryan Lance, CEO of ConocoPhillips, stated: “There is a revolution taking place within the energy business – we have gone through a period of upheaval and we believe that the market will rebalance itself. That is why we chose to attend Gastech. The sector is on the cusp of a period of transition. Gathering with all of the other main energy players is an opportunity for us to collaborate, share ideas, and prepare ourselves for the future.”
The Gastech Exhibition & Conference will take place in Tokyo, Japan and begins on 4 April 2017.