New perspective

Galp's 6th Open Days GPE brought to Portugal specialists from different areas who presented their vision and knowledge about everything that involves the energy sector, showing trends and pointing out ways and solutions for a future that needs to be more sustainable

The Estoril Congress Centre hosted the sixth edition of Galp Petroleum Engineering (GPE) Open Days under the theme “A new perspective on energy. More than 40 speakers have covered topics ranging from energy trends and the energy transition to innovation, digitization, deep ocean exploration technologies and artificial intelligence, among others.

Over two days, more than 300 people from different countries were able to listen to the opinions of experts, ask questions and exchange ideas, in sessions that have served mainly to inspire the future.

At the opening of the event, Thore E. Kristiansen, executive director of Galp and head of the Exploration & Production Business Unit, presented data from the International Energy Agency that shows that oil and gas will continue to play an important role in the future as sources of power.

DEMAND WILL GROW UP UNTIL 2025

Wood Mackenzie's Tom Ellacott, when he outlined his company's perspective on the supply and demands of the oil, gas and liquefied petroleum gas market, pointed out that, in the case of the first raw material, its growth tendency will be maintained until 2025. During the current year, the increase will be about one million barrels a day, while in the next the rise will be 1.5 million units.

Wood Mackenzie's Tom Ellacott highlighted in GPE Open Days an increase in demand for natural gas in the order of 37% between 2020 and 2040

Six years from now, the curve is expected to start to slow down and to decline after 2040, due, in particular, to changes already taking place in the transport paradigm with the increasing implementation of new energy sources such as electricity and hydrogen, for example. On the other hand, Tom Ellacott said that demand for natural gas is expected to grow 37% between 2020 and 2040 and that it will be necessary to increase the production of liquefied petroleum gas to meet the needs of demand over the same period.

In light of the current data, Thore E. Kristiansen explained that companies linked to the sector, such as Galp, will play a very important role in ensuring everyone's access to energy at affordable prices. Of course, this will have to be done in a world that is increasingly aware of the effects of human activity on the environment by more efficient energy production companies.

SMART SOLUTIONS

The carbon footprint needs to be lowered and for that to happen “it will be necessary to make big investments to find, with lower costs, intelligent solutions”, said Thore E. Kristiansen.

This is what Galp has been doing for several years, working in partnership with research centres and universities, to find solutions that enable it to provide energy in a sustainable manner.

With a diversified portfolio, the company explores and produces oil and natural gas in countries such as Mozambique, Brazil and Angola and it has conditions to be able to do so. However, it will be necessary for all its people to “continue to contribute ideas and innovation and to seek alliances that allow us to establish partnerships and work together, he said, adding that “we are committed to being a solution and we will contribute with sustainable energy for the world.