Tag: flaring

Annual meeting 2024 – Obstacles and Incentives for Gas Monetisation and Emissions Management

2024 Annual Meeting: Summary and analysis

Paramaribo, 3-4 June 2024

Staatsolie hosted the 2024 Annual meeting in Paramaribo, Suriname. It brought together governments, NOCs, industry partners, and technical experts for a two-day international discussion, as well as training.

Key messages

  • The New Producers for Sustainable Energy 2024 annual meeting addressed the challenges and opportunities faced by emerging producers in developing natural gas resources and managing greenhouse gas emissions.
  • The global investment mood in oil and gas is bullish, but capital expenditure is unevenly distributed, favouring North America and Latin America.
  • Equity issues are central for member countries, with the Global North discouraging new oil and gas projects in the Global South, while increasing their own production.
  • The Global South members of the NP4SE emphasised the need for energy access to alleviate poverty and drive development.
  • Lock-in risks associated with gas infrastructure investments are lower for downstream projects and can be mitigated for upstream projects by lowering costs and execution time, notably through small-scale and modular approaches.
  • Monetizing associated gas and methane presents challenges due to immature markets and infrastructure but offers significant economic and environmental benefits.
  • Growing focus on GHG emissions has led to increased pressure on operators to reduce emissions, particularly methane.
  • Financing decarbonization and gas projects remains a challenge, with limited public finance available and commercial banks hesitant to invest.
  • New producers are exploring alternative financing options, such as climate bonds and partnerships with Asian importing countries and institutions like the African Energy Bank.

Annual Meeting 2020

Day 1 of the 2020 Annual Meeting

The 8th Annual Meeting of the New Producers Group took place from 1–3 December 2020, with a focus on fostering resilience in emerging producers.

The meeting was held in the context of the COVID-19 pandemic, which has precipitated a crash in oil markets, hampered or halted operations across the hydrocarbon sector and caused many oil and gas investments to be delayed or shelved. In addition to these immediate effects, there will be long-term ramifications associated with the global energy transition towards a lower-carbon economy.

The meeting focused on how new producers can adapt their approaches in light of the shocks from the pandemic, and the prospects that the global energy transition will precipitate significant changes in oil and gas markets.

At the outset, the group’s organizers encouraged participants to see the meeting as an opportunity to rethink their assumptions about the value of the oil and gas sector to their countries, and to work together to develop resilient strategies that can benefit emerging and established producers alike. Acknowledging apprehension over the uncertainty of the moment and the long-term ramifications of the global energy transition, the host organizations emphasized the value of capacity building and collaboration across agencies, nationally, regionally and internationally.

A summary of the Annual Meeting is available at the link below.