Gastech:  Global policymakers calls for urgent public-private collaboration to meet the growing demands of the energy transition.

UGO AMADI, HOUSTON ,TEXAS

Global energy policy makers with John F. Kerry, the 68th U.S. Secretary of State has called for urgency and necessity of adopting new technologies throughout the industry, stating that  crucial public-private collaboration is expedient in meeting  growing demands of the energy transition.

According to them “you’re going to see some imbalances here and there, but the basic direction is towards decarbonization and we’ve made progress in that. The reality is that people have now accepted a transitional understanding, and this transitional understanding requires new technology, as well as storage, solar and wind.”

However, Gastech 2024, the world’s premier platform for natural gas, LNG, hydrogen, climate technologies, energy manufacturing, and low carbon solutions, marked its second day, driving key conversations on the role of innovation and collaboration in delivering a just, orderly sustainable path to net-zero.

Secretary Kerry’s message on transnational collaboration was echoed in the second ministerial panel of the conference, ‘energy security and diversity in times of geopolitical uncertainty.’ Ministers from Hungary, Libya, Ghana, and the Secretary General of the International Energy Forum shared the stage and addressed the global priorities of energy security, economic development, and wide-scale emissions reduction.

Speaking to the importance of a pragmatic approach to net-zero, Joseph McMonigle, Secretary General of the International Energy Forum, said: “If we are going to be successful, we need a multi-dimensional approach to the energy transition, with all possible technologies on the table and all resources on the table. If we pursue an energy transition approach which creates high prices and volatility, we are in big trouble.”

The panelists were also united in recognizing the critical urgency of scaling modern energy infrastructure through technology and investment, as was described by Hon. John K.A.A Sanie, Deputy Minister of Energy, Ghana: “a lack of investment is limiting producers from fully exploiting and utilizing their resources.

Energy demand in Africa is expected to increase by 60% by the year 2040, more than anywhere else in the world. Given that context, it is about time that Africa overcomes key investment and infrastructure barriers to deliver energy across the continent.”

During the Climatetech & AI conference, discussions centered on the essential role of public and private collaboration in developing cutting-edge decarbonization and energy transition solutions. Recognizing the immense potential of both existing and new climate technologies, especially in light of the widespread adoption of AI, the conference emphasized the impact of supportive policies and regulations in driving capital into the industry’s most innovative projects.

Speakers across this dedicated conference shared insights on the public sector initiatives and private sector strategies required to accelerate the integration of technology into key energy-related sectors. During a session titled ‘optimizing direct air capture to reduce legacy global emissions,’ Savannah Bush, Head of Strategic Partnerships at Climeworks, argued for greater promotion of climate technologies – like direct air capture – throughout the industry: “I hope you all leave with optimism about DAC, as a serious, viable, and commercial solution that is ready to go to market. Also, as much as you can within your private circles, providing education about DAC is the biggest thing – from where we are on a price perspective, to technological readiness.”

Methane reduction strategies remained a key area of discussion, with many remarking on the critical nature of technology in driving this change. Speaking on a panel titled “driving purposeful industry progress on methane reduction”, H.E. Osama Mobarez, Secretary General, East Mediterranean Gas Forum called for greater support for innovation across the sector: “a key point in this endeavor is how can we engage technologies – and push for research into technologies – that can support projects related to methane emissions abatement.”

Day Two of the Climatetech & AI exhibition played host to the event’s cutting-edge Start-up Zone, where top energy entrepreneurs presented the innovative products and technologies that are set to transform industry practices. Meanwhile, the Gastech Start-up Competition, held in partnership with the Houston Energy Transition Initiative, provided emerging start-ups with the opportunity to pitch their innovations and technologies to industry-leading investors.

During another packed day, Gastech has built a growing consensus around the transformative power of natural gas and LNG, as well as the game-changing solutions that can enable a low-carbon, flexible, and affordable energy mix.