Energy security, transition to dominate CERAWeek energy forum

HOUSTON, March 5 (Xinhua) -- On the theme of "Navigating a Turbulent World: Energy, Climate and Security," the influential global energy forum CERAWeek is kicking off here on Monday, focusing on the dual challenges of meeting the world's growing energy demand while reducing emissions.

"The global energy industry is facing a welter of uncertainty and change," the organizer S&P Global said in a statement.

The past 2022 witnessed soaring oil prices, deep supply chain disruption, as well as economic hardships, driven by the global COVID-19 pandemic, the evolving Russia-Ukraine conflict and rising geopolitical tensions. All combined to bring energy security back to the fore.

However, as the global energy industry gathers to explore new strategies and solutions amid the turbulence, "designing the world's energy systems for a lower carbon future remains paramount," said the organizer.

It is expected to be hotly debated whether the focus on energy security will speed up or slow down the energy transition. Many experts said there cannot be an energy transition without energy security.

On the other hand, the global consensus around the need for an emissions-focused energy transition has become consistently stronger, yet challenges to achieving it have also become harsher, analysts observed.

With over 1,100 speakers from across energy, finance, technology and industry, the topics of the five-day forum range from a new global map of gas trade, carrots and sticks of U.S. energy policy, to hydrogen, biofuels, critical minerals, as well as numerous edging technologies and low-carbon innovations.

More than 7,000 participants including policymakers, industry leaders, company executives, investors and researchers from over 80 countries and regions around the world are expected to attend this year's CERAWeek, said the organizer.