Calgary plays host this week to the 24th World Petroleum Congress, drawing oil and gas industry leaders from across the globe.
Calgary plays host this week to the 24th World Petroleum Congress, drawing oil and gas industry leaders from across the globe. With the overarching theme of “Energy Transition: The Path to Net Zero,” the event aims to address the imperative of decarbonizing existing oil and gas production.
Prominent figures in the industry, including ExxonMobil CEO Darren Woods and Saudi Aramco CEO Amin Nasser, are among the attendees. Over 5,000 delegates from more than 100 countries are expected to participate in discussions covering a range of critical topics.
This gathering takes place against the backdrop of the hottest summer ever recorded in Calgary and Edmonton, marked by prolonged wildfire haze. Recognizing the urgency of climate action, the World Petroleum Council in Canada is set to explore various strategies, including carbon capture and storage, hydrogen adoption, and methane reduction.
Richard Masson, Chair of the World Petroleum Council Canada, emphasized the need for a comprehensive approach. He noted that companies are diversifying into renewable sectors like wind and solar while acknowledging the unique challenges faced by developing nations in achieving energy affordability and accessibility.
Denis Painchaud, President and CEO of the 24th World Petroleum Congress, stressed the collective responsibility to combat climate change. Reflecting on the evolution of industry discourse, he contrasted today’s focus on energy transition with the predominant discussions of efficient oil extraction two decades ago.
Chris Severson-Baker, Executive Director of the Pembina Institute, praised the emphasis on energy transition and urged a shorter-term outlook on achieving net-zero targets. He underscored the global shift away from traditional oil and gas applications, emphasizing the need for Alberta to adapt swiftly to changing demands.
The Pathways Alliance, a consortium representing 95% of oilsands production, has committed to achieving net-zero greenhouse gas emissions by 2050, reflecting a growing industry-wide commitment to sustainability.
While recognizing the importance of capital, government policies, and skilled personnel in this transition, Masson cautioned that the shift away from oil and gas would be a gradual process. He stressed the need to simultaneously enhance the efficiency of existing production and invest in alternative energy sources.
Calgary Mayor Jyoti Gondek highlighted the urgency of technological transformation in energy extraction, production, and delivery. She emphasized the dual imperative of supplying global markets with energy while prioritizing secure, affordable access.
As protests are planned around the event, Gondek encouraged constructive engagement between activists and industry stakeholders. Dr. Joe Vipond, co-chair of the Calgary Climate Hub, called for rigorous government regulation to hold the industry accountable for its environmental impact.
The Congress will commence with an opening ceremony featuring Canada’s federal energy minister, John Wilkinson, at the Calgary Telus Convention Centre. The subsequent sessions will be hosted at various venues in the Stampede grounds.
With a projected economic value of approximately $88 million, the event underscores Alberta’s pivotal role in shaping the global energy landscape, while emphasizing the imperative of achieving carbon neutrality.