1
UAE Energy Forum 2017
Energy Outlook 2017: To Return To Balance, or Not to Balance?
Under The Patronage of His Excellency Eng. Suhail Mohamed Al Mazrouei
UAE Minister of Energy
The 8th Gulf Intelligence
January 11, 2017 | New York University Abu Dhabi
HOSTED BY
2
Dr. Rainer Seele Chairman of the Executive
Board, CEO OMV
H.E. Eng. Suhail Mohamed Al Mazrouei
UAE Minister of Energy
2017 Confirmed Speakers
The 8th Gulf IntelligenceUAE Energy Forum 2017
Amos J Hochstein Special Envoy
Bureau of Energy Resources U.S. Department of State
Dr. Gal Luft Co-Director
Institute for the Analysis of Global Security, USA
Dr. Konstantin Simonov Director General
Russian National Energy Security Fund
Dr. Qiang Liu Secretary General
Global Forum on Energy Security
Luay al-KhatteebDirector, Iraq Energy InstituteFellow, Columbia University
Neil Atkinson Head of Oil Industry and Markets Division
IEA
Musabbeh Al KaabiCEO
Mubadala Petroleum
Justin DarginEnergy and Environment
Scholar University of Oxford
John RoperManaging Director, Head of
Middle EastUniper Global Commodities SE
George SarrafPartner
Strategy&
Christoph De Mahieu Partner, Dubai
Bain & Company
H.E. Fouad SinioraHead of Largest Party in
Lebanon’s Parliament and Former Prime Minister
3
Oil prices have a habit of turning normally rational people into “believers”. Take the current discussion about OPEC and the market reaction to a few words from Saudi Arabia. The market moves up in response, as part of a process of “gradually returning to balance”. They “know” the long-term price is higher than the current price, and it is only a matter of time before demand catches up with supply, and the price goes back to at least a $60-70 range. Why? Why should anyone believe that that current price is “wrong”? Does price not tend to equate demand and supply? Is the current price above the marginal costs of production? Isn’t the current market already in balance? The convention argument is that at current prices, production will continue to fall and demand will keep going up. It is assumed that the marginal production is outside OPEC, and that the marginal cost of this new production is up there at $60-80. So that is where the price will balance the market. Almost everything in this argument is open to challenge. TOPICS:* Crude Global Supply: To Balance or not to Balance?* Energy Finance & Investment - What’s the Road Ahead?* Gulf NOCs in Transformation – Hedging Against Future Value of Oil?* The Future of LNG Exports from the Gulf?* Global Energy Scenarios: Radical Change in Energy Demand is Coming!* The Silicon Valley Roadshow
UAE Energy Forum 2017The 8th Gulf Intelligence
The Gulf Intelligence UAE Energy Forum, now in its eighth year, has established itself as the signature annual event in Abu Dhabi for international and national energy officials to discuss and debate the Outlook for game-changing events impacting the global energy industry.
Theme – Energy Outlook 2017: To Return To Balance, or Not to Balance?
The 8th Gulf IntelligenceUAE Energy Forum 2017
2017 Confirmed Speakers
4
Registration & Breakfast Networking
Keynote Speeches/ VIP Feature Interview/Panel Session
Coffee Break
Debate Session
Lunch Break
Roundtable Session 1
SESSION B:
SESSION A:
SESSION C:
SESSION D
Roundtable Session 2
Roundtable Session 3
Roundtable Session 4
8:00 – 9:00
9:00 – 11.00
11.00 – 11:30
11:30 – 12:30
12:30 – 13:30
13:30– 14:30
Forum Structure
The 8th Gulf IntelligenceUAE Energy Forum 2017
Follow GI and Join the Discussion: #giforum @gulf_intel
5
2016 Testimonials
“Just wanted to let you know that the event today was a great success in many ways. Gulf Intelligence has demonstrated – once again – its ability to gather the relevant industry leaders and create the right platform for a value adding dialogue and a dynamic and forward looking debate. I also enjoyed the inclusion of the “disruptive” technology part as one of the critical success factors going forward. Thanks to you and your colleagues for all the hard work that was put into this – well done!”
ALI VEZVAEI, LINDE ENGINEERING,
MIDDLE EAST & NORTH AFRICA
“I would like to thank the Gulf Intelligence for inviting me to attend the 7th energy forum held on 12 January 2016 in Abu Dhabi. I congratulate you for assembling such an excellent decision makers in Abu Dhabi. Subject discussed were also very relevant and important to the energy producers as well as consumers.”
ABBAS AL-ALYAK, ADMA-OPCO
The forum was well organized and had gathered experienced fellows over the world in the sector of Oil & Gas. We’ve heard opinions and kind of future outlook with the positive impression toward market improvement over the next two years. Other than that, I’ve enjoyed the attendance and I’ve learned the way people look at current situation and how they link it to possible future mega projects pan continents.”
MOHAMED AL MARZOUQI, ZADCO
Thanks so much for including me. I hope everyone liked the comments. I got great feedback from people who came up to me throughout the day. I hope to see you next year!”
CHRIS FAULKNER,
BREITLING ENERGY CORPORATION
“Thanks, I really enjoyed the event too. Well done on the organization and caliber of speakers.”
DOUG COOK,
PRICEWATERHOUSECOOPERS (PWC)
“Firstly, thank you for inviting me to the Forum. I found the discussions of very high quality and the hospitality impeccable. Congratulations on a truly well-organized event.”
ROBINDER SINGH, DANA GAS
“I really enjoyed the meeting - it was most informative and I learned a lot about the energy sector.”
MARTINA NEWELL-MCGLOUGHLIN,
ABU DHABI EDUCATION COUNCIL (ADEC)
“It was an excellent event for connecting people and knowledge exchange. I hope to be part of this event next year.”
LUIS FIGUERA, ADCO
The 8th Gulf IntelligenceUAE Energy Forum 2017
6
2016 FORUM HIGHLIGHTS IN PICTURES
The 8th Gulf IntelligenceUAE Energy Forum 2017
7
The Gulf Intelligence Publications
The Gulf Intelligence Middle East Energy Series: 2009-2016
Content from the Gulf Intelligence forums is harvested into a series of white papers and editorials, as well as exclusive interviews, speeches and articles by leading figures in the MENA and International Energy Industry, including H.E. Abdalla Salem El-Badri, former OPEC Secretary General, H.E. Mohamed Suhail Al-Mazrouei, UAE Minister of Energy and H.E. Abdullah bin Hamad Al-Attiyah, Chairman of the Abdullah bin Hamad Al-Attiyah International Foundation for Energy & Sustainable Development. The publications are widely distributed across the UAE, Qatar and Oman.
Gulf Intelligence is honored to recognize the UAE Energy Forum as one of the founding pillars of our Middle East Energy Series. We have been humbled over the years to host many of the world’s recognized energy leaders, including the ministers of most OPEC member states, the heads of international multilateral energy institutions including IEA, OPEC and the IEF, who have all provided timely, relevant and useful intelligence for our international energy industry partners.
The 8th Gulf IntelligenceUAE Energy Forum 2017
8
The 8th Gulf IntelligenceUAE Energy Forum 2017
Gulf Intelligence‘We Facilitate Knowledge Exchange’
Gulf Intelligence is a UAE-based strategic communications consultancy that facilitates critical Knowledge Exchange and Networking between industry stakeholders operating across the South-South Corridor – connecting Government Related Entities in the Middle East and their International Partners trading across this New Silk-Road passageway from Asia to Africa.
9
ConsultancyIntelligence Publishing
