Most of the energy we are using globally today comes from fossil fuels, which are used to fuel cars and airplanes, heating and cooling homes and workplaces along with the manufacturing of a large number of industrial products. Global demand for energy is rising, driven by a growing global population and rising living standards. By 2050 the number of people on the planet will be around 9 billion. As the energy system evolves, oil and gas will continue to play a significant role, and remain key enabler for wealth creation worldwide. But a sense of disruption in the oil and gas sector has evolved.
The dramatic shift in the oil and gas market over the past couple of years has issued the question on whether there is a sustainable business case for the oil and gas industry in the Danish part of the North Sea. Is the future value contribution from the oil and gas reserves and workforce significant enough to make the industry worth investing in? What are the market realities and which designs are necessary to meet the future demand for energy internationally? Will oil and gas as an international and regional commodity still be as important in the future? Has the oil and gas industry already been disrupted by the shift towards a low carbon society?
At the 4th Oil and Gas Summit we looked into the future energy mix and gained a better understanding of why there is still good business in establishing and growing a targeted oil and gas business in Denmark.