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20

OPEC bulletin 8–9/17

F o r u m

World Petroleum Congress 2017

Energy Evolution

At the 2017 World Petroleum Congress (WPC) in Istanbul a host of

high-level speakers delivered speeches and presentations focused

on key energy themes. One of the main keynote addresses came from

Alexander Novak

, Russia’s Minister of Energy, and a key architect

of the landmark OPEC and non-OPEC ‘Declaration of Cooperation’.

The

OPEC Bulletin

provides a translated and shortened version of his

remarks to the Congress, which underscored some of the key challenges,

as well as opportunities, surrounding the world’s energy future.

E

nergy is the foundation of social development.

Over the next 20 years, the Earth’s population

will multiply further, and process of electrification

will be brought to millions more in developing countries.

The continuing growth of global GDP will positively influ-

ence the well-being of all social classes, especially the

expanding middle class. The success of medicine and

agriculture will enable the average life span of the world’s

population to increase. This will require a power supply

increase, and according to experts, energy demand will

grow by at least 25 per cent.

However, the next 20 years will be markedly differ-

ent fromwhat we have been accustomed to over the past

100 years. It is quite possible that an energy revolution

will not consist of a single step, but if we were to close

our eyes today and open them in 20 years, I am confi-

dent that our sector will have changed considerably, and

evolved to meet the plethora of energy challenges.

This Congress has brought together the heads of the

world’s largest companies to discuss the basic vectors of

the world’s energy development. And the main issue we

are facing is how we can ensure an uninterrupted sup-

ply of energy to the global economy, irrespective of the

political and economic volatility of today.

Alexander Novak, Russia’s Minister of Energy, was one of the WPC’s

2017 main keynote speakers.