Budapest Energy Summit

Digitalization was in the focus of 3rd day of Budapest Energy Summit

December 5, 2018 |by Budapest Energy Summit | Comments Off on Digitalization was in the focus of 3rd day of Budapest Energy Summit | News

Budapest, 05.12.2018 – Digitalization and innovation were in the focus on the third day of the Budapest Energy Summit, where 80 speakers from 28 countries shared their ideas and insights about energy transition, with 300 participants. There are many global megatrends that all have an impact on us, and we need to shape our relationship and connectivity, and for that we need active state involvement – Ádám Szigeti, deputy secretary of state for energy and climate policy, said in his opening speech. He added that the Hungarian government has set up the Ministry of Innovation and Technology with the aim of helping the hungarian economy to catch up, and find its place in the 21st century.

Digitalisation will create new connections and market cooperations – this was one of the key messages of the first panel discussion. The youngest panelist of the event, the 28-year-old Dacil Borges, head of Tatum Innova, said that a completely different way of thinking and approach is needed in a digitalized business environment. The key component is not only the incredibly wide range of available data and information, but also the sharing of information. The next decades will be the shared economy’s age.

In addition to data, lithium may be a key element of the next decades as well, which will be an increasingly important comodity for energy industry, related to the growing share of renewable energy sources, what is more and more connected with battery energy storage. The chairman of Cuper Lithium Mining S.A. – which is one of the bigges lithium producer of the global market -, Fernando Eleit said on an afternoon panel discussion, that the lithium supply is secure, despite the concentrated occurrence. The inventory is now enough for the next 100 years, with the expected increase in consumption too. They care for their enviroment footprint, so they use a lot of solar energy for lithium production.

The Budapest Energy Summit will address women’s role on Thursday, presenting the results of joint research by the Boston Consulting Group and the Woman in Energy Association, focusing on gender equality in the energy sector of the Central and Eastern European region.


The clean energy was in the focus of Budapest Energy Summit 2nd day

December 4, 2018 |by Budapest Energy Summit | Comments Off on The clean energy was in the focus of Budapest Energy Summit 2nd day | News

Budapest, 04.12.2018. – Questions about the transition to a sustainable, clean energy world were discussed by the Budapest Energy Summit speakers on Tuesday. The second day of the four-day international event, was opened by Péter Kaderják, Minister of State for Energy and Climate. Clean, smart and manageable energy must be ensured, this is the goal now in the new energy policy concept – he said.

Mr. Kaderják indicated, among others, that Hungary could cut greenhouse gas emissions by 40 percent by 2030, compared to the 1990’s level, while maintaining economic growth. Emission reduction is not the only one goal of climate protection but also the reduction costumers cost. Péter Kaderják considers it particularly important to promote all forms of energy saving and energy efficiency as well.

During the day, the future role of natural gas and its contribution to the energy market transition were also discussed in several panel discussions. According to the speakers, the development of natural gas infrastructure is unavoidable for future security of supply. In addition to pipeline investments, the development of European LNG import capacities seems necessary. At the Krk LNG terminal, capacity bidding offers are waiting for the project company until December 19th – recalled Barbara Doric, managing director of LNG Croatia. At this moment, it looks , that the terminal can be put into operation from the end of the decade.

A separate panel discussion discussed the future of nuclear power generation. János Süli, the Minister without portfolio for the Paks 2 investment, called for investment in the security of electricity supply in Hungary and inevitable because of its sustainability too. He noted that they are not against the developmewable sources, the nuclear, and green energy basis will be able to secure the security of energy supply together in the future. He reminded that not only in Hungary, but also in the EU, a significant amount of power plant capacity will be needed to replace in the coming decades.

One of the prominent points of the Tuesday program was László Varró, IEA, and Spencer Dale, BP’s chief economist at a panel discussion after the presentation of BP Energy Outlook. Both believed that the current energy trajectory did not ensure sustainability, which requires governmental and regulatory action.

The Budapest Energy Summit will focus on industrial innovation and digitization on Wednesday.

For further information:

Richard Hlavay
press officer


Top energy leaders on the Budapest Energy Summit

December 3, 2018 |by Budapest Energy Summit | Comments Off on Top energy leaders on the Budapest Energy Summit | News

Budapest, 03.12.2018 – Energy summit is held in Budapest. The Budapest Energy Summit 2018 has more than 300 hundred participants, and 80 speakers, from 28 countries, energy experts, leaders, decision makers. The program is focused to the transition of energy world, security of supply, and a sustainability.

We believe that Hungary and Central Europe will play a crucial role in the success of this transition – said Peter Staray, the Minister of State for Security Policy, in his opening speach, and added to that, that 2019 is going to be a very important year for our region because the decisions we are about to make have the power to frame our energy security ambitions for decades to come.

Francis R. Fannon, Secretary of State for Energy in the United States talked about energy security as well, his opening speach. The United States stands with Europe to advance our shared energy security. There should be many suppliers, but one Europe, and one Transatlantic alliance – he said.

With decreasing margins and a stronger focus on economies of scale, we live in the new age of integrated international energy companies when smaller or undiversified operations cannot keep up. At the same time, key decisions will be made in the following 1-1.5 years that will define the long term regional operating model for the next decade – said Gergely Szabó, Country Chairman Hungary, MET Group, about the market changing.

We must be realistic about natural gas – saind Elena Burmistrova, CEO of Gazprom Export. It has repeatedly proven its self-sufficiency as an essential element of the new global energy system. It can provide affordable, reliable and clean solutions. And it is a perfect partner fuel which, hand in hand with renewables, can lead Europe into a new, low-emission, sustainable and competitive energy reality – she explained.

Here in BEST first day was the European premier of IEA’s World Energy Outlook 2018 report. Laszló Varró, the chief economist of the institution said: under the policies currently implemented in the global energy system is not on track for sustainability, and energy security objectives. Government policies will have to play a key role in correcting the trajectory.

Budapest Energy Summit will continue on Thuesday with the opening speach of Peter Kaderják, Minister of State for Energy and Climate. The role of natural gas on the low-carbon energy age, and the clean energy technologies are on the focus on second day of the event. There will be a unique panel discussion as well, with the two well known chief economist of the world, Laszló Varró of IEA, and Spencer Dale of BP will share their insights about the trends, and the newest figures of energy market.

Further information:

Richard Hlavay
press officer


LNG will provide supply diversity

November 5, 2018 |by Budapest Energy Summit | Comments Off on LNG will provide supply diversity | News

Natgas is a flexibility – says Andrew Valker, VP Strategy and Communication of Cheniere Marketing Ltd., who will be one of our top speaker at the BUdapest Energia Summit 2018. We asked him on the future of USA LNG on the global market.

– How do you see the current role of LNG in the EU energy market?

– LNG has an important role to play in the EU energy market. The European gas market is expected to have a growing level of natural gas imports over time. The good news is that increasing volumes of globally traded LNG will be available to help meet the shortfall, including volumes from our growing export facilities in the US. LNG will provide supply diversity, supply flexibility and increased gas-on-gas competition – enhancing both the affordability and supply security of natural gas in Europe.

– What do you think about the perspectives of LNG here in CEE region?

– LNG has an opportunity to play an important role in the CEE region – but new terminals and / or new internal pipeline connections will be required for it to access all markets in the region. New terminals have emerged in recent years in North-Eastern Europe, and LNG has diversified supply into these markets with positive results, but a couple more are probably needed in the CEE region overall.

– Can LNG, or actually natgas compete with renewables in the low carbon age?

– Rather than view natural gas as a competitor to renewables it is probably more constructive to view it as complementary to renewables. Indeed its flexibility will be key in enabling a growing share of intermittent renewables in the future energy mix. Over time we can expect to see a growing role for sustainable gases and energy carriers such as biogas, low-carbon natural gas and hydrogen in the mix.


Natgas is best friend of Renewables

November 5, 2018 |by Budapest Energy Summit | Comments Off on Natgas is best friend of Renewables | News

What will be the role of LNG in EU energy market, for long therm – among others, this is one of the main question of the future, and one of main topic of Budapest Energy Summit as well. We asked Anita Orban, vice president of international affairs of Tellurian about that. You can hear her at the event too, she is one of our top speaker.

– How do you see the current role of LNG in the EU energy market?

– European LNG demand grew by 16% in 2017 and 13% of the US LNG cargoes landed in Europe last year. LNG has been part of the European supply for decades now, some countries rely on it extensively – e.g. Portugal, Spain, UK – while LNG is not part of the energy mix in other parts of Europe – Czech Republic, Switzerland, Austria to name a few. However, one of the new entrants in the LNG market recently has been Malta, which became a new buyer last year. Cyprus is progressing with its plans of a regasification terminal and the LNG discussions gained a new momentum in Germany with 3 terminal plans on the table. More and more countries recognize the benefits of LNG compared to pipeline gas, mostly the flexibility and optionality it offers. Some European majors are also among the leading LNG players globally, taking advantage of LNG not only in the European but also in their global markets.

– What do you think about the perspectives of LNG here in CEE region?

– LNG in the CEE region is a tremendous success story. Lithuania received substantial discount from its traditional supplier as soon as LNG became a reality. Today the share of LNG and pipeline gas is about half and half in the Lithuanian gas supply. Poland found the impact of LNG on its domestic and regional market so beneficial that PGNiG booked the entire capacity of the terminal and there is a decision to enlarge its capacity even further. The Swinoujsce terminal was utilized about 60% last year and over 1500 LNG trucks loaded in Swinoujsce, making the Polish LNG terminal the largest reloading port in Europe. I believe that a terminal in Krk could create the same impact for the Croatia-Hungary region as the above terminals did in Northern Central Europe.

– Can LNG, or actually the natgas compete with renewables in the low carbon age?

– Natural gas is the best friend of renewables. It is the cleanest of the fossil fuels and a good supplement to address the intermittency problems. Studies prove that if we just replaced coal with gas, it would be enough for Europe to meet its 2030 targets, i.e. gas is part of the solution, not a problem.