This year’s conference comes as demand for oil and gas continues to grow along with solar, wind and biofuels. Energy markets have facilitated a realignment of global energy flows, as customers increasingly turn to regional energy suppliers or adopt a long-haul supply chain. than.
More than 7,200 people are expected to attend the event and hear the latest outlook on the energy market from “giants” such as BP, Chevron, Exxon Mobil, Saudi Aramco, Sinopec and Petronas.
Unlike previous conferences, where discussions were dominated by the battle for market share between US shale oil producers and the Organization of the Petroleum Exporting Countries (OPEC), the issue of security Energy is top of mind at this year’s event.
The development of the global liquefied natural gas (LNG) sector and US climate policies will be the main topics in separate sessions of major exporters including Cheniere Energy and Venture Global LNG. Here, US Secretary of Energy Jennifer Granholm and White House Advisor John Podesta will highlight the climate goals of President Joe Biden’s administration.
Notably, the top oil ministers of Saudi Arabia, Kuwait and Iraq will not be present. Russian officials are also not expected to attend after being absent last year.
OPEC lacks presence at CERAWeek this year amid global oil prices fluctuating around 75-85 USD/barrel. This number is enough for OPEC countries to ensure a source of revenue despite war in Eastern Europe and instability in the Middle East, while not affecting economic growth or accelerating the transition to electric vehicles and fuel. renewable material.