CERAWeek: Preparing to Tackle Future Challenges

Last week, Energy Valley attended CERAWeek in Houston with the Norway2CERAWeek delegation. One of the key takeaways from the conference was that the world needs to work together to achieve net-zero carbon emissions by 2050.

“The energy transition is not something that can be achieved by any one country or industry alone, and it will require a fundamental shift in investment, policy, innovation, and technology,” says Strøm.  

Another important topic discussed at the conference was geopolitics. The world is currently experiencing sustained volatility in energy markets, which is impacting energy trade, risk management, and capital flows.

“The global energy industry must adopt new strategies to adapt to these market shocks and ensure a smooth transition to a low-carbon future,” says Strøm. 

The main theme of the conference was “Navigating a Turbulent World: Energy, Climate and Security,” which explored the challenges facing the global energy industry in balancing the need for secure, sustainable, and affordable energy while addressing climate change. 

Will need trillions of dollars to reach net-zero 

The conference also addressed the critical need for financing. Trillions of dollars of investment will be required to meet net-zero targets while sustaining production systems that foster energy security.

“Governments and private capital markets work together to accelerate transition goals and promote just energy transitions in developing countries. The massive IRA (Inflation Reduction Act) caught a lot of attention, and was heavily debated, both on stage and off stage,” says Strøm.  

Attracting and retaining talent 

Finally, the future workforce was also a major topic of discussion. Attracting and retaining talent with the right skills will be a critical source of competitive advantage for the industry of the future.

“The industry needs to evolve and remain in step with society’s evolving values on environmental, social, and governance (ESG), race, diversity, and inclusion,” says Strøm. 

Staying up-to-date with the latest developments in the industry

“Attending conferences like this is critical for professionals in the energy industry. It provides an opportunity to gain valuable insights and network with other experts in the field”, says Strøm. 

The Norway2CERAWeek delegation consisted of members and partners of Energy Valley: Institutt for energiteknikk (IFE), HPE, SEB, Ocean Sun, Nebb Engineering, FutureOn, Baker Hughes, Bp, and Heaten. 

“By attending CERAWeek, the delegates can stay up-to-date with the latest developments in the industry and ensure we are prepared to tackle the challenges of the future,” says Managing Director Preben Strøm and adds: 

“We strongly believe that “Norway2CERAWeek” will be an even greater success next year, and we are looking forward to bringing another delegation from Norway to the leading energy event as of today.  Also, thanks to our partners, Innovation Norway, and HPE, for making this such a great experience.”