Budapest Energy Summit

Energy leaders discussed the key questions of the global and regional energy sector on the 3. Budapest Energy Summit

December 1, 2020 |by Budapest Energy Summit | Comments Off on Energy leaders discussed the key questions of the global and regional energy sector on the 3. Budapest Energy Summit | News 2020

PRESS RELEASE

Energy leaders discussed the key questions of the global and regional energy sector on the 3. Budapest Energy Summit

The third Budapest Energy Summit was organised on the 1 December by White Paper Consulting, this year in a virtual format. The CEE region’s leading energy conference was followed by participants from more than 27 countries around the world providing this way a truly international platform for the regional and global energy community to discuss the driving trends of the industry and to identify the opportunities and challenges ahead of us.

The third Budapest Energy Summit gathered the leaders of the energy industry, connecting policymakers, the business ecosystem and innovators to review how the sector has coped so far with the challenges of the fast-moving coronavirus situation and adjusted to the „new normal”.

Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó gave the opening speech of the conference highlighting the historic gas purchase agreement concluded this year, which is the first long-term contract in the history of Hungary with a Western player. This means that by 2027 Hungary will secure 10 per cent of its gas supply from the Krk LNG terminal, which is set to start operation from January. This is a huge step in Hungary’s energy diversification, – said Péter Szijjártó.

Kadri Simson, Commissioner for Energy at the European Commission underlined that achieving climate neutrality requires the transformation of our entire economy, for the benefits of the whole society. The Green Deal provides a comprehensive vision that covers many sectors and offers a credible growth strategy for the future – added Ms Simson.

Gergely Szabó, Regional Chairman of MET Central Europe said: The COVID-crisis provided us with a future snapshot of how digitalisation will play a powerful role in our industry and it will also be a factor of unleashing disruptive solutions. We are heading towards a data-driven culture in which the most efficient data-process systems and the related decision-making mechanisms will be essential attributes of the successful market players.

Leaders of  MET Group, E.ON Hungária Zrt. and Shell discussed in a panel discussion the impacts of the pandemic situation on the global gas market, which has undergone many changes recently.

Mahdjouba Belaifa, Head of Gas Market Analysis Department of the Gas Exporting Countries Forum (GECF) highlighted in her assessment that gas markets are more resilient to economic shocks, yet there is still a dire need to cooperate and collaborate together to mitigate their exposure to unprecedented circumstances.

Leaders of the biggest players; Tellurian, NOVATEK, TurkStream, MET Group and MFGK Hungarian Gas Trade Ltd. agreed that new regional gas infrastructure projects were long-awaited because they allow more trading, which means more competition and more opportunities.

According to Szabolcs I. Ferencz, Chairman of the Board and CEO, FGSZ Natural Gas Transmission Ltd. one thing is for certain: even in long term gas will still be used to meet energy demands. FGSZ knows that the wind of change has started to blow, while as the saying goes: „we cannot direct the wind”, we can adjust the sales, what we have already started, and we are in the best position to riding those new waves with success. – he added.

László Varró, Chief Economist of the International Energy Agency (IEA) presented for the first time in the region the IEA’s flagship publication, the World Energy Outlook 2020. In his presentation, he emphasised that energy demand is set to fall by 5 per cent in 2020, the largest shock in seventy years, but not all fuels felt the impact in the same way, renewables emerged as a clear winner.

Péter Kaderják, Hungary’s Minister of State for Energy and Climate Policy introduced in his speech the policy goals of the Hungarian energy- and climate strategy. Mr Kaderják started by confirming that Hungary is fully dedicated to get to net-zero by 2050, this is enshrined in law. He emphasised that pursuing climate objectives must be balanced with supply security considerations and competitiveness. Hungary is willing to go ahead with more ambitious middle-term climate goals but we would like to see more progress in the EU in terms of climate convergence.- said Mr Kaderják.

Completing the decarbonization of the electricity sector is one of the urgent tasks as Hungary would like to see 90 per cent of its power production becoming carbon-free by 2030. The clean mix will rely largely on new nuclear investment, phasing out lignite capacity, scaling up solar, while keeping gas a back-up capacity for flexibility and investment in grid infrastructure.

Daniel Yergin, energy expert and Pulitzer-price winning author also attended the Budapest Energy Summit introducing his latest bestseller The New Map: Energy, Climate, and the Clash of Nations. Considering what is at stake for the CEE region’s energy agenda after the recent US elections, the conference featured Kurt Donnelly, Deputy Assistant Secretary of the State Department’s Bureau of Energy Resources and Kevin Book, Managing Director, ClearView Energy Partners LLC who shared their insights on the expected turning points of US energy policy.

Walburga Hemetsberger, CEO of SolarPower Europe speak at the Budapest Energy Summit about the role of renewables in our future energy system. To decarbonise the energy system, we can look at a scenario based on 100% renewables in 2050. The results are surprising: it is not more expensive, on the contrary, we have seen a 6 per cent lower cost overall compared to a scenario when we still have fossil fuels. – said Ms Hemetsberger.

Dr Graham Cooley, CEO of the world’s leading green hydrogen technology company, ITM Power highlighted that the reason why everybody in Europe is now interested in green hydrogen is first because of the cost reduction, secondly because it is the only net-zero gas if we want to achieve a net-zero future.

The reality is that the energy industry is slow to change and the transition of the energy system will take a long time, because of its size, its complexity and the amount of infrastructure required to keep it running efficiently – said Jeroen Kirschbaum, Lead Country Manager, ExxonMobil Global Business Center Hungary. We seek to improve the society, we are inspired to solve big problems and we know that we can make a real difference for the world through the application of science, technology and innovation.– Mr Kirschbaum concluded.

In case of further questions please contact:
Evelin Szőke
White Paper Consulting
+36303965828

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Novatek is forging ahead with Arctic LNG 2.

November 27, 2020 |by Budapest Energy Summit | Comments Off on Novatek is forging ahead with Arctic LNG 2. | News 2020

Project partners said that the project’s overall completion is at 29 per cent.
The project’s participants include Novatek (60 per cent), Total (10 per cent), CNPC (10 per cent), CNOOC (10 per cent) and the consortium of Mitsui and JOGMEC (10 per cent).
The partners noted the Arctic LNG 2 project implementation is progressing well despite the COVID-19 pandemic.

The concrete casting of the first GBS platform is 67 per cent complete, the statement reads.
Novatek added that the module fabrication yards are working at full capacity. Modules are expected to be completed and shipped according to schedule. The modules fabrication progress for the first GBS is at 46 per cent.

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Interview with European Commissioner for Energy Kadri Simson, speaker of the Budapest Energy Summit

November 27, 2020 |by Budapest Energy Summit | Comments Off on Interview with European Commissioner for Energy Kadri Simson, speaker of the Budapest Energy Summit | News 2020

European Commissioner for Energy Kadri Simson will be one of the speakers at the Budapest Energy Summit to be held online on 1 December.

Despite the outbreak of the coronavirus pandemic last March, the European Commission’s efforts to reach its ambitious climate targets outlined in the European Green Deal continued at full speed.

Indeed, one of the aspects highlighted by the pandemic is that once this crisis is over climate change will still be here and the actions we take now can have effects for the years to come. Very recently the European Commission presented the Offshore Renewable Energy Strategy, as offshore renewable energy is among the technologies with the greatest potential to scale up, given the great number and variety of sea basins in the European Union and the steadily falling costs of new installations. 

This article was originally published on CEENERGYNEWS, the official media partner of Budapest Energy Summit.

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Interview with Péter Kaderják, Secretary of State for Energy and Climate Policy at the Hungarian Ministry for Innovation and Technology, speaker of Budapest Energy Summit

November 25, 2020 |by Budapest Energy Summit | Comments Off on Interview with Péter Kaderják, Secretary of State for Energy and Climate Policy at the Hungarian Ministry for Innovation and Technology, speaker of Budapest Energy Summit | News 2020

Péter Kaderják will be one of the speakers at the Budapest Energy Summit to be held online on 1 December.

With the new European proposal to cut greenhouse gas (GHG) emissions by at least 55 per cent by 2030, the energy transition keeps ongoing. However, all Member States have a different starting point and a different energy mix and the issue must be addressed from different points of views if we want the transition to be just.

This article was originally published on CEENERGYNEWS, the official media partner of Budapest Energy Summit.

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Exclusive interview with NEA Director-General William D. Magwood, speaker of Budapest Energy Summit

November 25, 2020 |by Budapest Energy Summit | Comments Off on Exclusive interview with NEA Director-General William D. Magwood, speaker of Budapest Energy Summit | News 2020

William D. Magwood will be one of the speakers at the Budapest Energy Summit to be held online on 1 December.

Nuclear energy is nowadays the first source of low-carbon electricity in many countries, generating around 28 per cent of the electricity produced in the European Union. Although the International Energy Agency has predicted that an annual average of 15 gigawatts (GW) of new nuclear capacity is needed by 2040, many countries are planning to phase it out.

This article was originally published on CEENERGYNEWS, the official media partner of Budapest Energy Summit.

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The energy industry faces immense challenges, energy leaders to discuss the future of the sector at Budapest Energy Summit

November 25, 2020 |by Budapest Energy Summit | Comments Off on The energy industry faces immense challenges, energy leaders to discuss the future of the sector at Budapest Energy Summit | News 2020

A járvány, az alacsony olaj és gázár valamint a zöld átmenet extrém kihívások elé állítják az energetikai iparágat.

A koronavírus-járvány az energiaszektort sem kímélte. Az iparág már a koronavírus előtt is fokozott átalakuláson ment keresztül, hiszen a párizsi klímacélok eléréséhez elengedhetetlen a szektor dekarbonizációja. A vírus nyomán begyűrűző válság azonban példátlan kihívások elé állította az egész szektort.

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Europe’s top renewable energy organisations launch Renewable Hydrogen Coalition

November 25, 2020 |by Budapest Energy Summit | Comments Off on Europe’s top renewable energy organisations launch Renewable Hydrogen Coalition | News 2020

Europe’s top renewable energy organisations SolarPower Europe and WindEurope, supported by Breakthrough Energy, launched the Renewable Hydrogen Coalition to give voice to businesses and thought leaders that will be decisive in positioning Europe as the world leader in renewable hydrogen, produced via electrolysis and based on 100 per cent renewable electricity.

The Coalition will build a high-level and interdisciplinary network of innovators, entrepreneurs and corporate leaders from the rapidly growing renewable hydrogen community, including industrial off-takers.

This article was originally published on CEENERGYNEWS, the official media partner of Budapest Energy Summit.

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This turbulent year has proven the steadiness and resilience of solar energy – opinion article of Walburga Hemetsberger, speaker of Budapest Energy Summit

November 15, 2020 |by Budapest Energy Summit | Comments Off on This turbulent year has proven the steadiness and resilience of solar energy – opinion article of Walburga Hemetsberger, speaker of Budapest Energy Summit | News 2020

Solar and renewables are “defying the difficulties caused by the pandemic, showing robust growth while other fuels struggle,” IEA Executive Director Fatih Birol said during a presentation of IEA’s Renewables 2020 report. This positive message comes at the end of a very difficult year, with all market sectors impacted by the COVID-19 pandemic. However, over the course of this year, a clear trend has emerged: solar and renewables have offered predictability, resilience and security while other energy sources have failed.

This article was originally published on CEENERGYNEWS, the official media partner of Budapest Energy Summit.

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Energy leaders to discuss the future of the energy industry at Budapest Energy Summit

November 8, 2020 |by Budapest Energy Summit | Comments Off on Energy leaders to discuss the future of the energy industry at Budapest Energy Summit | News 2020

On 1 December the leader of the energy industry will come together at the third Budapest Energy Summit, the region’s leading energy conference which focuses on the transformation of the energy industry. This year’s goal is to review how the sector has coped so far with the challenges of the fast-moving coronavirus situation and adjusted to the new normal.

Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó will open the Budapest Energy Summit together with European Commissioner for Energy Kadri Simson, who will speak about the Commission’s overarching strategy to provide secure, affordable and sustainable energy to all Europeans.

This article was originally published on CEENERGYNEWS, the official media partner of Budapest Energy Summit.

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US elections: what’s at stake for CEE’s energy agenda

November 8, 2020 |by Budapest Energy Summit | Comments Off on US elections: what’s at stake for CEE’s energy agenda | News 2020

On the other side of the ocean, US citizens are choosing their next President. Many are wondering what the impact of the next US presidency will be for the rest of the world.

The role played by the US in the energy industry has been significant over the past years. Both domestic crude oil production and natural gas production have increased, leading to an intensification of exports. In 2019, the US total annual energy exports exceeded imports for the first time in 67 years, making the US a net total energy exporter.

This article was originally published on CEENERGYNEWS, the official media partner of Budapest Energy Summit.

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