G8 Energy 2009

Login

Password


	G8 ENERGY

HOME » EBF - Energy Business Forum

WHAT IS ENERGY BUSINESS FORUM?

The G8 Energy Ministers Meeting will be preceded by a Forum of energy companies, the Energy Business Forum, to discuss how best to foster the investment needed to face the economic crisis.
Taking part in the Forum will be Ministers from G8 Member countries and emerging economies and the leaders of the world's major energy companies.

The objectives are, on the one hand, to determine the obstacles delaying or preventing implementation of major energy projects and hindering technological innovation; on the other hand, to define the strategies that governments, or governments working together with companies, can enact to relaunch investment and provide renewed impetus for economic growth. The companies taking part represent the principal sectors concerned: oil and natural gas, renewable energy sources, nuclear energy, advanced energy systems and technologies for low-carbon and efficient use of energy.

To face the challenges posed by energy security, to reduce greenhouse gas emissions, to ensure sustainable energy development and access to energy supply, greater co-operation between governments and energy companies is essential. For the first time the G8 Energy Ministers Meeting will include representatives from the energy industry.

The Energy Business Forum will offer the opportunity for an informal dialogue between Ministers and CEOs from the world's top energy companies on the problems to be faced and the measures to adopted to encourage and relaunch energy investment.

In a market economy, government action can help creating the favourable conditions in which companies may operate and expand. What companies seek from governments is streamlined regulations, institutional stability, simplification of decision-making processes and a non-discriminatory stance. What governments seek from energy companies is to speed up investment, develop infrastructures, protect the environment and take the needs of consumers into account.

During the Energy Business Forum attention would focus on investment and major projects in the oil and natural gas sectors. The relations between international and national energy companies and the adoption of voluntary codes of conduct might be means to reduce risk and encourage the financing of new research and exploitation of hydrocarbons. The functioning of the energy commodity markets will be discussed.

The other key issue to be addressed concerns the role of industry in the strategies combating global climate change.

In order to invest in new projects and technological innovation, companies need governments to lay down precise guidelines over priorities and the means to achieve them, as well as the reaching of a new international agreement on how to bear the financial burden of reducing greenhouse gas emissions. Without an international agreement the transition from the current energy system towards an alternative low carbon energy system could provoke competitive disparity and harm development prospects for companies.

G8 Energy 2009

\| Site map \| Privacy \| Copyright \|
Powered by

Organising Committee - info@g8energy2009.it