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CERAWeek, the superbowl forum in the global energy industry, underway

CERAWeek, known as a superbowl forum in the global energy industry, kicked off Monday in Houston of the U.S. state of Texas, with topics covering the entire energy spectrum but themed on multidimensional energy transition in four fields: markets, climate, technology and geopolitics.

“The theme, multidimensional energy transition … reflects the recognition that the energy transition will be complex unfolding in different ways in different regions, with different time horizons, with different mixes of technologies, and with different priorities among governments, companies, and consumers,” Daniel Yergin, vice chair of CERAWeek’s organizer S&P Global, told attendees when announcing the forum’s opening on Monday morning.

The forum is the first major gathering of the energy industry since COP28, or the 28th session of the Conference of the Parties t o the United Nations (UN) Framework Convention on Climate Change, Yergin noted. CERAWeek this year also aims to chart pathways for growth, security and prosperity after COP28, amid rising tensions in different parts of the world, according to the organizer.

Among the hot topics are artificial intelligence, mining and mineral markets, as well as rising electricity demand especially in the United States due to the electric vehicle market expansion, and new manufacturing. U.S. electricity thirst is jumping after many years of flat consumption, online media outlet Axios reported.

One of the critical questions about energy transition is whether it will be orderly and balanced, or disruptive and chaotic, the organizer said in a statement prior to the forum.

A multitude of elections occurring this year around the world, especially the race in the United States, together with economic uncertainty, political strife and amazing advances in technology and innovation, have helped shape this year’s CERAWeek agenda, Yergin said on Monday.

As the Ukraine crisis enters its third year and geopolitical tensions are rising in the Middle East, energy security has become a global focus, while energy transition is taking place at different speeds around the world, leading to both the opportunities and risks in a world of multi-speed, non-linear transformation.

Representing the Global South, government and industrial leaders from Asia, the Middle East, Latin America and Africa will present their views.

A session titled “China’s Energy Future: Balancing a multidimensional transformation” will take place on Wednesday and be joined by energy experts from both sides of the Pacific, featuring China’s importance in renewable energy and climate change.

Over 9,000 government, industry and academic leaders from more than 80 countries and regions will join the one-week forum.

Famagusta Gazette