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July 3, 2008
Today was yet another great day at the conference. The morning session featured the Deputy Minister of Energy and Industry of Qatar, Executive Director of Gas and Power from Royal Dutch Shell and the President of SonaTech.
This session was a great forum that outlined the future of the natural gas industry with a very specific focus on the LNG market – and a potential gas OPEC. Following this session, we heard from the President and CEO of StatoilHydro whom gave a great speech on the potential of carbon capture and storage and how in places, like Norway where there exists a $45/tonCO2, that companies are more incentivized to reduce emissions in operations.
I also attending one of my most memorable breakout sessions focused on the opportunities and challenges associated with IOC’s and NOC’s. The session consisted on senior manager from the Angola National Oil and Gas company and a representative from Total. The men both gave their opening remarks and then the session got into a moderated debate on the challenges that lie ahead with future energy development in regions that are dominated by national governments. Lastly, I got a special invitation to attend he OPEC / IEA Luncheon where we heard from the Secretary General of OPEC and the Executive Director of IEA and listened to an intense debate amongst the two. The session was moderated by the Security General of the IEF and was a great forum that focused mainly on the potential supply issues and different opinions being held by the two individuals around the issue.
Following the day’s activities at the conference, all the youth delegates were invited to one of Madrid’s most popular night-clubs for a session youth party hosted by Nexen Inc. Randy Gossen opened up what was an amazing networking night and a great opportunity to meet the other delegates outside the busy atmosphere of the conference.