There is continued uncertainty in the future direction of climate frameworks, political instability of the Middle East and North Africa (MENA) region, energy price volatility, and the global economic recession. These uncertainties are apparently at the top of the list of issues around the world that are causing energy leaders ‘insomnia’. This is according to the 2013 World Energy Issues Monitor that has been published by the World Energy Council (WEC).
Speaking at the launch of the report in New Delhi, Pierre Gadonneix, WEC Chairman said, ‘with energy now topping the global agenda, our 2013 World Energy Issues Monitor clearly reveals that the critical issues identified by energy leaders are macroeconomic and geopolitical. In particular, uncertainties surrounding climate framework reveal the strong desire of the energy sector to have clearer and more balanced governance. The survey also reveals the need to identify pragmatic, cost effective, and technology neutral issues.’
The author of the report, Dr Christoph Frei, secretary General of the World Energy Council said, ‘the report is significant and clearly shows the insomnia issues keeping energy leaders awake at night. For me the most significant change is the way CCS is now being viewed with a clear tension between the desire of energy leaders for a climate framework and the lack of confidence in some mitigating technologies. This change in perception is of considerable concern as the success of new technologies like CCS will be critical if we are to achieve massive transition required in the energy sector.’
Dr Frei added, ‘renewables and energy storage have huge potential in helping India increase energy access and enhance security of supply. But in order to do so, the sector must find the right innovations and the right investments to integrate those technologies into the Indian power system. The opportunities are huge, and having the right enabling policies are crucial to delivering those opportunites.’
Edited from press release by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/07022013/world_energy_issues_monitor_136/