On Tuesday, June 22nd, the USRCC hosted its “by invitation only” webinar “Energy Dialogue: Part 2 – State of Energy Industry and Its Future” with PJSC “LUKOIL” Chairman of the Board Ravil Maganov. More than 60 executives from United States of America and Russia representing such companies as PJSC “LUKOIL”, Parker Drilling, Baker Hughes, Halliburton, Sulzer GTC Technology, Neftegaz, Mitsui, Miller and Lents, ASTM International, JSC “NEK”, Total, Moody Rambin, Flotek Industries, IHS Markit, Optimized Gas Treating, the University of Houston and many others attended this event.
The event started with welcome remarks from the U.S.-Russia Chamber of Commerce.
Mr. Maganov in his presentation covered LUKOIL’s vision for the oil & gas industry future and LUKOIL’s energy transition. Mr. Maganov presented several liquids demand scenarios for stricter climate regulations. Also, Mr. Maganov emphasized the important issue of achieving zero poverty, as around 800 million people still have no access to electricity. Hydrocarbon demand prospects were also covered during his presentation. Mr. Maganov stressed LUKOIL’s ambition to achieve net zero emissions by 2050. LUKOIL is looking at a broad list of climate opportunities such as production of green hydrogen, biofuels and methanol with CO2 capture.
The Energy Dialogue was moderated by John Gibson, President and CEO of Flotek Industries. Some of following questions were addressed by Mr. Maganov during the moderated Q&A session:
- Carbon capture utilization and storage in terms of sequestration;
- LUKOIL diversification into alternative energy: solar, wind, nuclear, geothermal, HPP;
- Hydrogen strategy of LUKOIL;
- Digital transformation of LUKOIL across its broad international business while avoiding cloud technologies;
- The carbon tax burden compromise between producers and consumers;
- Production decline impact as a result of COVID-19 pandemic.
Mr. Maganov concluded his remarks by stressing LUKOIL’s mission to be a responsible producer of hydrocarbons with a focus on decreasing its global carbon footprint.
“Energy Dialogue: Part 2 – State of Energy Industry and Its Future”
Jun 22, 2021