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Dubai / WAM
The future of energy, especially in the current climate of oil price volatility, begins now, and oil producing nations must focus on strengthening the efficiency of their operations and commence energy diversification measures, said experts discussing the ‘Future Energy – After the Oil Age’ at the first Commonwealth of Independent States Global Business Forum 2016 in Dubai.
Steven Geiger, Co-Founder of Masdar and COO of Skolkovo, said strategies for future energy must also take into consideration economic diversification, as the energy mix movies from hydrocarbons to mixes and renewable energy.
“There is no silver bullet answer; the change will take decades. There is no perfect time except now for the post-oil transformation.†Geiger said the UAE’s leadership vision set the platform for its leadership position in the growth industries of the future through initiatives such as Masdar and several others. Christopher Hopkinson, First Deputy Chairman of Kazmunaygas in Kazakhstan, said the status quo in the energy sector is difficult to break.