Renewables and Oil & Gas: Polar Opposites or Complementary

Renewables will play a crucial role in the energy mix, but they can’t meet the world’s demand in the foreseeable future.

Mr. Ballard and Mr Pécresse concluded that O&G and renewables are compatible. Both agreed on the need for gas in particular to back up power generation fueled by solar and wind. And both saw many renewable projects involving the skills and capabilities that oil and gas companies already have. For example: complex project management expertise (especially offshore); capital investment capability; and deep government relationships in countries that want to develop large renewable infrastructures. 

The two leaders agreed that the oil and gas industry – as well as renewables -- must continue to drive costs down while raising environmental performance. For now and decades to come, both industries will be essential to meet rising global demand for energy.