Leading CEOs, leaders search for solutions during World Energy Congress

Global Business

Leading CEOs, leaders search for solutions during World Energy Congress

In attendance at the 23rd World Energy Congress, there are more than 250 government ministers and CEOs.

All there to better understand energy issues and solutions from a global perspective. The congress also plans to address the crucial role of access to reliable energy sources.

CCTV’s Natalie Carney reports.

Leading CEOs, leaders search for solutions during World Energy Congress

Leading CEOs, leaders search for solutions during World Energy Congress

In attendance at the 23rd World Energy Congress, there are more than 250 government ministers and CEOs. All there to better understand energy issues and solutions from a global perspective. The congress also plans to address the crucial role of access to reliable energy sources. CCTV’s Natalie Carney reports.

The first day of talks began with a focus on the future visions for the global energy industry, including a panel discussion on China’s energy outlook and how it can contribute to global energy security and sustainability.

The slump in oil demands amid a global economic slowdown was also discussed following a decision by the organization of Petroleum Exporting Countries to reduce production by about 700,000 barrels per day.

Yet what shook markets was Russian President Vladimir Putin’s pledge to join the deal to cut global oil output. Oil hit one-year highs after Russia said it is ready to follow OPEC’s lead.

Turkey and Russia have been working on reestablishing relations following months of diplomatic disagreements. Putin’s attendance at this congress is being seen as a positive step in that normalization process and more importantly installed bilateral energy projects, such as the Turk Stream Pipeline.

Following the first day the two leaders held a private meeting in which they hoped to “accelerate” bilateral cooperation.

In his opening speech President Recep Tayyip Erdogan began by focusing on the need for sustainable energy in Africa that the subject of focus on day four of this forum.

Resource management, policy implications and new innovations in the energy sector will also be addressed throughout the 60 meetings expected to be had during this four-day congress.