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2013 World Energy Congress, Day 3, Closing session, "Ministerial dialogue: Energy in Transition"

The dilemma over the trilemma

Whether governments should subsidize energy costs for the world’s poorest consumers emerged as a point of heated debate at the World Energy Congress during the closing plenary session for 16 October as government ministers discussed how countries should coordinate energy policies to achieve the triple goals of security, sustainability, and equity in energy policy. Ministerial […]

Posted on 16 October 2013

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South Korean President promotes international energy cooperation

South Korean President Park Geun Hye told WEC Daegu 2013 on Wednesday that international cooperation is needed to meet global energy challenges, while a “creative energy economy” should be promoted in which Korea can play a leading role. “As the World Energy Council points out, the Energy Trilemma, the trade-offs between energy security, social equity […]

Posted on 16 October 2013

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World Energy Council study reveals slowdown in energy efficiency despite growing government involvement

World Energy Congress, Daegu, Korea, 16 October: The World Energy Council’s latest energy efficiency study reports a general slowdown in energy efficiency improvements, it was announced today. The report, “World Energy Perspective: Energy Efficiency Policies”, is produced in collaboration with France’s energy and environment agency, ADEME. The report shows that more and more countries are […]

Posted on 16 October 2013

Financing Session

Financial markets must play role in energy development

Markets must assist to encourage energy investments Governments need to fashion long-term energy policies to ensure financing MENA political turmoil could offset promise of cheap energy prices due to U.S. shale gas boom. Energy experts told delegates at the World Energy Congress Daegu 2013 that financial markets must assist to ensure investment in energy. Seethapathy […]

Posted on 15 October 2013

2013 World Energy Congress, Day 2, Session Face to Face, "Shale gas and oil: Is it just a bubble?", Gerard Mestrallet, France & John Defterios, UAE

Shale gas and oil: Is it just a bubble?

The shale gas and oil boom has been an incredible phenomenon and has the potential to transform the oil and gas industry, the World Energy Congress was told on 15 October. Gérard Mestrallet, the Chairman & CEO of French utility company GDF Suez, said that he disagreed with suggestions that some of the claims regarding […]

Posted on 15 October 2013

What is the next game changer

What are the game changers?

Industry leaders say strategic innovation, high technology key to exploiting less conventional energy sources Strategic innovation and technological progress are key in changing the energy game Exploiting lesser-known conventional and unconventional energy deposits will involve risk Methane hydrate, deep water and arctic drilling, oil shale, and shale gas have potential Innovation, technology, and long-term commitment […]

Posted on 15 October 2013

2013 World Energy Congress, Day 2, Session Bottom Line "The untapped hydro potential: Opportunities and risks"

The untapped hydro potential: Opportunities and risks

While it remains easier to build a coal plant than a hydro one due to social and environmental concerns, hydropower is enjoying something of a renaissance as large hydro projects seek to exploit the huge unused potential in Central Africa, Latin America, Russia and Canada. With only one third of achievable hydro potential developed to […]

Posted on 15 October 2013

Session What does it take?, "Financing energy: Managing risks and complexity", Day 2, 2013 World Energy Congress

Government guarantees needed to support energy investments

A total of $37 trillion is needed for energy investments by 2025, or roughly $1.5 of the $12 trillion in new capital that is raised every year, the World Energy Congress was told on 15 October. The solution to liberating the “ocean of capital” to finance energy projects is close collaboration among the science sector, […]

Posted on 15 October 2013

2013 World Energy Congress, Session What does it take?, "Innovative market designs", Day 2

Renewables to impact market pricing

Advances in renewable resource technology pose a threat to the energy sector. In some European countries that have heavily invested in wind or solar plants, energy prices have been “driven through the floor”, said Philipp Gerbert, Senior Partner & Managing Director at the Boston Consulting Group. In response, he said, the low costs mean energy providers […]

Posted on 15 October 2013

2013 World Energy Congress, Day 2, Session Regional Crossroads, "North America: Energy self-sufficiency by 2015?"

US energy self-sufficiency poses challenges for Canadian exporters, overseas markets

US energy self-sufficiency, resulting from the shale gas and oil boom, could cause a potential rift in US-Canada relations, the World Energy Congress was told on 15 October. There were also indications of rising concern that an environmentally conscious and energy-rich United States may no longer be keen to commit to major infrastructure projects needed […]

Posted on 15 October 2013

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