What you need to know about the 2013 World Energy Congress

Energy leaders to face challenges from 3 key perspectives.

The World Energy Council International Summit opens in Beijing this week. As one of the most important international energy events, the Energy Summit aims to explore the long-term energy options facing China amidst its new government. It will also be a prelude to bigger events at the World Energy Congress which will happen on on 13–17 October in Daegu, South Korea.

Singapore Business Review interviewed Mr Cho Hwan-eik, Chair of the Organising Committee of the 2013 World Energy Congress to know more about the event and what the market can look forward to from the energy sector's leaders.

What are the key issues on the agenda for the 22nd World Energy Congress?

The theme of this year’s Congress is ‘Securing Tomorrow’s Energy Today” which could not be timelier given the backdrop of growing energy consumption, financial uncertainty across global markets and rapid technological advancement. The Congress agenda aims to address the challenges the energy sector faces and pool together collective ambitions for the long term.

As United Nations Secretary General Ban Ki-moon said, energy is the “golden thread” that runs through the resolution of issues ranging from poverty to protecting the rights of children. Key issues on the programme are the vision of clean, cheap and affordable energy, governance and safety issues in nuclear and of course energy security. For example, for the oil and gas industry, one of the leading sessions at Congress will be assessing the rise of National Oil Companies and independents, while another will ask whether the recent shale gas boom is just a bubble or a real game-changer.

Your readers will know that the question of securing energy in a sustainable manner for the future is exceedingly complex. Our Congress will provide a fascinating overview of the opportunities and challenges facing an energy world in transition.

What is the WEC's World Energy Trilemma report aimed at?

The Council Energy Trilemma Report looks at the enormous challenges 2050 will bring from three perspectives; energy security, social equity and environmental impact mitigation. We are facing the prospect of double global energy demand, the need to reduce emissions by 50% and creating electricity access for the 1.3 billion energy poor.

The report is aimed at policy makers and is the energy industry’s views on what is needed in order to meet the challenges of the Energy Trilemma. Hard choices must be made as the current model is not working. The report is designed to be the basis upon which industry can create the predictable and
strong global energy framework that businesses so need to progress.

The report also includes the 2012 Energy Sustainability Index, which is a global ranking of 93 WEC member countries based on the Energy Trilemma. It provides policymakers and those making the investment decisions with a key
tool to assess the sustainability of a country’s own energy system.

I believe that no single group can solve the issues we face but that the energy industry must lead the way in tackling the most pressing problems.

Being held in Asia, how will the 22nd World Energy Congress provide leaders with a better understanding of this region which is the centre of energy today?

We are immensely proud to be holding the 22nd World Energy Congress in South Korea. It represents only the second time in the event’s 90 years that it will be held in East Asia, the world’s most dynamic energy market. The Congress will take place in Daegu, Korea’s green growth capital, offering delegates the opportunity to view at first hand the country’s sustainable energy development initiatives. Asia’s energy market will play a crucial role in determining the future of the global energy sector so Daegu is an ideal location for the world’s energy leaders to gather at such an important time.

What does nuclear development in Asia look like in a post-Fukushima future?

Nuclear power has the enormous potential to contribute to energy security in many regions of the world. The dynamic, energy hungry economies of Asia are no exception, so it is fitting that Korea, with its world-class expertise in the peaceful development of nuclear energy, should host this crucially
important debate.

We will be tackling some of the most pressing issues at our World Energy Congress. Is the ‘nuclear renaissance’ over? Can an accident like Fukushima happen again? What are the global governance implications? We are delighted and proud to be welcoming leaders from the nuclear energy industry and governance organisations to our Congress for dialogues with energy businesses and ministers.