Osama Mobarez on HOW IS THE GEOPOLITICAL CRISIS TRANSFORMING THE ENERGY LANDSCAPE
Summary
TLDRThe speaker emphasizes the pivotal role of natural gas in addressing energy challenges, advocating for its cleaner use and technological advancements to reduce emissions. Collaboration among governments, industry, and regulators is highlighted as crucial, particularly in the Eastern Mediterranean Gas Forum (EMGF), to diversify Europe's energy sources and enhance security. Financing is identified as a key obstacle to achieving climate and economic goals, with a call for support beyond rhetoric to fund gas projects and infrastructure, crucial for energy transition and climate action.
Takeaways
- ๐ The speaker emphasizes the importance of gas as a cleaner fossil fuel and its role in overcoming the energy trilemma.
- ๐ Gas is positioned as a transitional energy source that can help switch from coal to cleaner energy options.
- ๐ ๏ธ There is a focus on utilizing technologies to further clean and decarbonize gas, highlighting the role of the dmgf in this effort.
- ๐ The Eastern Mediterranean is identified as a key region for gas development to support Europe's energy diversification.
- ๐ค Collaboration is stressed as crucial, involving governments, industry, regulators, and technology companies through platforms like the emgf.
- ๐ The challenges of geopolitical tensions, climate change, and energy security are acknowledged as areas needing collective action.
- ๐ฐ Financing is identified as a significant obstacle to achieving ambitious climate and economic growth targets.
- ๐ There has been a shift in the narrative around fossil fuels, particularly gas, with increased acceptance of its role in the energy transition.
- ๐ง The need for funding is highlighted for both gas development and infrastructure, including interconnectivity projects.
- ๐ฆ Financing constraints from institutes are still a barrier to gas projects and infrastructure, despite the changing narrative.
- ๐ณ COP 28 is recognized for creating funds to address climate challenges, with hopes for further progress at COP 29.
Q & A
What are the three main topics the speaker intends to discuss?
-The speaker plans to discuss the importance of gas, the significance of collaboration in facing multiple challenges, and the issue of financing.
Why is gas considered a cleaner fossil fuel according to the speaker?
-Gas is considered cleaner because it is the least polluting among fossil fuels, and there are existing technologies that can further clean and decarbonize gas.
What role does the Eastern Mediterranean Gas Forum (DMGF) play in the context mentioned by the speaker?
-The DMGF focuses on developing more gas from the Eastern Mediterranean to support the diversification of Europe's energy sources, especially during times of crisis and challenges.
What is the 'trilemma' the speaker refers to, and how does gas help overcome it?
-The 'trilemma' likely refers to the challenge of balancing energy security, economic growth, and environmental sustainability. Gas helps overcome this by being a cleaner alternative to coal and by supporting technological advancements for cleaner energy production.
How does the speaker describe the collaborative nature of the Eastern Mediterranean Gas Forum (EMGF)?
-The EMGF is characterized by its inclusiveness of various stakeholders, including governments, industry, regulators, and technology companies, which is crucial for addressing challenges such as geopolitical, climate, and energy security issues.
What is the main obstacle the speaker identifies in achieving global ambitious targets related to economic growth and climate action?
-The main obstacle identified is financing, as there is a gap between having ambitious targets and the availability of funds to realize these goals, particularly in the context of gas development and infrastructure.
How has the narrative around fossil fuels and gas changed in the past two years according to the speaker?
-The narrative has shifted to be more accepting of the role of gas, recognizing its importance in the energy transition and the need for funding to support its development and infrastructure.
What are the challenges the speaker sees in the availability of financing for gas projects and infrastructure?
-The speaker mentions constraints from financing institutes in providing funds for gas projects and infrastructure, which is crucial for the development and production of gas as well as for addressing climate challenges.
What was a significant milestone achieved at COP 28 according to the speaker?
-COP 28 achieved a significant milestone by creating funds to address climate challenges, which is an important step towards securing financing for climate action.
What does the speaker hope to see at COP 29 in terms of financing for climate challenges?
-The speaker hopes that COP 29 will achieve further milestones and see a breakthrough in securing funding for climate challenges, including the development of gas projects and infrastructure.
Outlines
๐ The Role and Significance of Gas
The speaker expresses gratitude for being at the event and outlines three main topics: the importance of gas, the necessity of collaboration, and the challenges of financing. They emphasize that gas, being the cleanest fossil fuel, plays a crucial role in overcoming the energy trilemma. The speaker mentions the use of technology to make gas cleaner and the focus on developing more gas from the Eastern Mediterranean to support Europe's energy diversification during times of crisis.
Mindmap
Keywords
๐กgas
๐กcollaboration
๐กfinancing
๐กtrilemma
๐กdecarbonize
๐กEMES
๐กdmgf
๐กinterconnectivity
๐กregulators
๐กtechnology companies
๐กCOP 28
Highlights
The speaker emphasizes the importance of gas as a cleaner fossil fuel and its role in overcoming the energy trilemma.
Technological advancements can make gas even cleaner, which is a focus point at the DMGF.
The Eastern Mediterranean is a focal point for developing more gas to support Europe's energy diversification.
There's an ongoing effort to produce gas more responsibly through various decarbonization projects and technologies.
The EMGF is characterized by its inclusive platform involving governments, industry, regulators, and technology companies.
Collaboration among different stakeholders is crucial for facing geopolitical, climate, and energy security challenges.
Financing is identified as a major obstacle to achieving ambitious economic growth and climate action targets.
The narrative around fossil fuels and gas is changing, with a growing acceptance of gas's role in the energy mix.
Availability of financing and funding for gas projects and infrastructure remains a significant challenge.
Funding is necessary not only for gas development but also for infrastructure and interconnectivity.
There are still constraints from financial institutions in providing funds for gas-related projects.
The COP 28 has achieved a milestone in creating funds to address climate challenges, but more progress is needed.
The upcoming COP 29 is anticipated to achieve further milestones and breakthroughs in climate financing.
The importance of addressing the financing gap for both gas projects and climate ambitions is highlighted.
The speaker calls for a collective effort to ensure the availability of funds for realizing climate and energy goals.
The need for concrete plans to achieve ambitious targets is underscored, alongside the importance of financing.
Transcripts
thank you thank you John it's a it's
really a pleasure for me to be back to
this great event and uh I think I will
very briefly tackle three topics one is
the importance of
gas and second is the importance of
collaboration especially in facing the
multiple challenges that we're facing
and the third one about
financing so I think gas is playing and
will play a significant role and we have
heard this from prime minister
mitsotakis in in the dinner yesterday
about how can gas overcome the trilemma
that Ambassador B was talking about it's
better to use and switch to gas than
coal and definitely gas although it is a
fossil fuel but it is the cleanest
fossil fuel not just that but we have a
lot of technologies that can G can make
can make gas even cleaner and I think
this is one of our Focus points at dmgf
we're focusing on developing more gas
from the Eastern Mediterranean to
support diversification of Europe
especially in these times of Crisis and
challenges not just that but we're
trying to produce more gas in a more
responsible way through a lot of
Technologies a lot of projects to
decarbonize and reduce EMES so this is
one thing another thing we're trying to
do this through a lot of
collaborative uh platforms and
collaborative mechanisms and I think the
emgf one of its characteristics it that
it is not just about the governments but
we have the governments we have the
industry we have the regulators and the
technology companies so I think bringing
the different stakeholders together is a
very important platform for
collaboration especially facing all the
challenges whether geopolitical whether
the climate challenge or even the energy
security and the tri trilemma that we
are
facing the last point is financing so I
think the the global uh world is having
a lot of ambitious targets especially
when when we're talking about economic
growth and also uh about climate action
but I think it's it's good to have
ambitious targets it's good to have a
vision but also we need to have concrete
plans to achieve this and I think one of
the main obstacles is
financing and the good thing is is in
the past two years let's say the
narrative about the fossil fuels and
about gas in particular has been
changing uh people now and the political
narrative is
accepting uh the gas and the role of gas
but what's really challenging is the
availability of financing and funding
really to to make gas or to have the
contribution of gas in the uh facing the
trma we need a lot of funding funding
not just to develop and produce gas but
as we have been discussing about the
infrastructure the
interconnectivity and we still see a lot
of constraints from the financing
institutes in funding and availing funds
for gas projects and gas infrastructure
so I think this is an important
topic that we need to address not just
funding for gas but also funding the
Ambitions about the climate Challenge
and the climate change and I think the
cop 28 achieved uh a great milestone in
this regard uh creating the funds for
this but still I think it's it's a long
way to go hopefully in cop 29 we can
achieve further milestones and we can
see a breakthrough in this regard
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