Ministerial Panel discussion

How do you see the theme of this meeting, which is transitioning into the future of energy?

Minister Zhurebekov said around 65% of Kazakhstan’s consumption is coal, followed by oil and oil products, then gas and, only small parts in renewables. So, they are targeting change for gas and renewables, and the government has adopted special programs to boost and subsidize them.

Secretary Winberg said the United States has an “all-of-the-above” energy strategy and he believes technology development will take us where we need to be. On CCUS in particular, he said the United States is investing $200 million a year in it.

Minister Wheelhouse said they have to decarbonize road and rail transport, and heating which will be the biggest challenge. He says a key task will be identifying realistic, technically deliverable, cost effective heating alternatives.

Can you exploit new discoveries while remaining true to your climate goals?

Although Scotland is self-sufficient in oil and gas, Minister Wheelhouse said production is likely to decline, with an 80% drop in UK natural gas supply by 2050. He expects they’ll get heavily into areas such as hydrogen, which he thinks is a great opportunity for North Sea diversification, and to invest in carbon capture. These are ways of maintaining the social license for production in the context of a falling emissions envelope.

The United States still imports crude for its refineries. Would you like to see a move away from that towards complete energy independence?

Secretary Winberg said no, that private operators will seek the best crude product to meet their individual refinery needs, and they’ll compare its price against a capital investment to change the type of crude they can refine. He thinks that global crude market will continue and, overall, that it’s a good thing.

Something you’d like to have in a different place by the Annual Meeting in 2021?

Minister Zhurebekov: renewables and petrochem.

Secretary Winberg: gasifying coal, biomass, and waste plastics to create hydrogen with negative CO2 emissions.

Minister Wheelhouse: to be able to look back on 2020 as a year of a significant shift in approach.