Economy

Energy of the present and the future: International Energy Week ends in London

The London Energy Forum, which defines the navigation of global energy transitions, was this year’s first major meeting of representatives of the global energy sector. This is reported on the website of the forum, informs Komersant ukrainskyi.

The International Energy Week is a place where oil and gas industry leaders meet with senior officials and influencers from around the energy world, as well as representatives of governments, environmental NGOs, and academics, to assess the technologies, business models, and skills needed to develop the energy future.

Among the speakers at this year’s forum were John Kerry, former U.S. Secretary of State and Presidential Special Envoy for Climate Change, Chris Norbury, CEO of E.ON UK, Dr. Fatih Birol, Executive Director of the International Energy Agency, Emma Pinchbeck, Independent UK Advisor on Climate Change, and others.

Ukraine was represented at the energy forum by DTEK CEO Maxim Timchenko.

The key topic of this year’s International Energy Week was serving the markets of tomorrow and how traditional energy markets and the energy of the future are being integrated.

According to the press release, the forum focused on fundamental issues, including:

– What does peak fossil fuel consumption mean for Europe and North America, and how realistic is it that the economies of China, India and the global South can follow suit?

– Are the sectoral barriers to decarbonization that are difficult to overcome related to technology alone, or do we also need to address serious policy and market failures?

– How can large energy companies hold firm to vital commitments to clean energy in the face of offsetting short-term pressures?

This year’s forum was an important event for those who want to remain competitive, as well as for all those who seek to understand the great energy challenges facing humanity and the once-in-a-generation opportunities for energy transition.

As reported by Komersant ukrainskyi, in an interview with Bloomberg during the International Energy Week, DTEK CEO Maxim Timchenko said that his company, through its trading division, is negotiating with several sellers on a two-year contract for the supply of liquefied natural gas to Ukraine. According to him, most of the potential partners are located in the US.

Maksym Timchenko also said that agreements for 10-20 years are being discussed with suppliers, including producers from the Middle East.

“We want to build a medium- and long-term business. We want Ukraine to be a gas supplier with gas storage facilities,” emphasized Maxim Timchenko.

According to him, DTEK is focused on importing one cargo per month, which would be a “success” for a newcomer to the market.