HOUSTON — For the first time in two years, CERAWeek is back in the Energy Capital of the World and thousands of people are in town to attend the event. Houston Mayor Sylvester Turner greeted the attendees.
“People come here from all over the world to strive to solve problems that matter most," Turner said.
The conference is considered the biggest event for energy industry leaders and it's celebrating its 40th year in Houston. CERAWeek seems especially timely this year given the uncertainty surrounding oil and gas amid the war in Ukraine.
On Monday, those talks dominated the conversation.
Bronwyn Wallace is from Houston and has been coming to the event for 15 years. She said the conference couldn't have come at a better time.
“This is the most prestigious and prominent energy-related conference – now energy and industrial conference – in the world," Wallace said. “It’s like the pandemic, Russia, energy transition ... (it's the) perfect time for CERAWeek. Russia, (and) Ukraine is one of the main topics of course because of the global geopolitical implications we’re seeing.”
Some of the biggest implications are related to oil and gas as prices soar worldwide. OPEC Secretary General Mohammad Sansui Barkindo addressed the media Monday afternoon and talked about the stakes of the current crisis.
“Where are we today? We are facing, the world is facing, a possible threat to supply,” Barkindo said.
Countries, like the United States, are considering sanctions on Russian oil but Barkindo went on to say that while developments continue to unfold and the world casts Russia out, OPEC decisions should be separate from the war.
“We are human so nobody wants to see this,” Barkindo said. “We cannot afford to jeopardize this industry based political or external considerations.”
Barkindo said countries, even those at war, can make decisions independent of it to address an energy crisis.
“You put that hat aside and face the issues at stake,” Barkindo said.
He said OPEC will continue to be a dependable source of supply but the conversation will continue as developments continue to evolve.