Gastech 2024 begins with a health check on global energy

The top energy ministers of five major countries on three continents offered current perspectives on their energy sector development and progress toward decarbonization. They spoke at the 52nd edition of Gastech in downtown Houston, which opened Tuesday before a full plenary session at the George R. Brown Convention Center.

America’s abundance
Officials from the US, India, Egypt, Nigeria, and Turkey addressed critical geopolitical issues deriving from industry-wide challenges of recent years, including pandemic, war, price turbulence, and the ever-growing demand to decarbonize. Geoffrey Pyatt, Assistant Secretary of State for Energy Resources, US Department of State, commented on his country’s ongoing work with each of the countries present, emphasizing the US desire to guarantee enhanced energy flows and geopolitical stability in their diverse regions. Pyatt offered a view of the US playing a central, global role in close collaboration with the other four nations. He described a generous American position, “on the back of America’s unprecedented energy abundance.”

Four pivotal nations look forward
H.E. Shri Hardeep Singh Puri, Honorable Minister of Petroleum & Natural Gas, India, spoke from the perspective a country with one of the world’s fastest growing energy demand. He explained how his country is managing this growing demand and a simultaneous energy transition in a difficult geopolitical environment. “If you say that global demand is increasing by one percent, ours is increasing by three times that,” he said. “In the next two decades, 35% of the increase in global demand will come from India.” He put the ‘energy trilemma’ in context, emphasizing his government’s various measures to achieve availability, affordability, and transition.

“We will manage and succeed…on the green transition,” he said. “That’s the part with which I am most satisfied.” H.E Karim Badawi, Minister of Petroleum & Mineral Resources, Egypt, placed his country at a critical geographical nexus in the eastern Mediterranean while touting Egypt’s increasing capacity to manage this important role. “I am a firm believer that Egypt plays a very important role, being a gateway for energy, in terms of gas or in terms of future hydrogen.”

However, he cautioned that finance will remain critical. “Today, the way forward for us is to see how we can provide an economic environment that is conducive to attraction of investment into the sector,” he said. Rt Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), Nigeria, emphasized his country’s unique opportunities specifically in the realm of natural gas, which is closely linked to Nigeria’s economic development.

“We are embarking on certain initiatives to cushion the effects of the transition,” he said, explaining the country’s significant activity since important legislation in 2021 and more recent presidential initiatives. “Any company that wants to come and invest in Nigeria, you are welcome.” He referred specifically to the nearly complete OB3 pipeline, a key part of Nigeria’s gas infrastructure. Connecting the south and north of the country, it is expected to vastly open gas production in the south. H.E Alparslan Bayraktar, Minister of Energy & Natural Resources, Türkiye, spoke of his country as a hub of oil and natural gas and its unique place straddling Europe and Asia. He outlined three challenges, around which all energy policy is now focused, including growing demand, important dependency, and what he called, “our energy transition journey.” “So we cannot say ‘no’ to any alternative or solution, to any energy resource coming from any direction.” He noted a shift from long-term pipeline gas contracts toward more flexible long-term LNG contracts.

A global community
The ministers’ comments came at the launch of the 52nd edition of Gastech before a full plenary session at the George R. Brown Convention Center in downtown Houston. Chris Hudson, President, dmg Events, opened the event before a gathered assembly of industry professionals, referring to it as “the world’s leading event for natural gas, LNG, hydrogen and climate technologies.”
Hudson spoke of Gastech’s evolving role as he launched the 4-day exhibit and conference expected to draw 50,000 visitors from over 150 countries, including 50 official country delegations.

“Gastech is not just an event, it has clearly become a global community that...drives collective progress toward a common goal, which is a secure, equitable, and sustainable energy future,” he said. He said that ‘multiple energy transitions’ to meet global climate goals were at the forefront of Gastech’s concerns, even as the industry seeks what he called a ‘delicate balance’ of climate, energy security and reliability imperatives in developed and developing nations.