ONS Conference 2022 Presents ‘TRUST’ Agenda For Growth Opportunities in Offshore Energy Industry

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By Ndubuisi Micheal Obineme

Offshore Northern Seas (ONS) Conference and Exhibition 2022 comes at a time when the world is facing challenges in shortage of energy supply following the Russia-Ukraine war coupled with the global energy transition agenda and net zero ambitions.

ONS Conference 2022 taking place from 29th August to 1st September 2022 with the theme “TRUST’ provides an insight into the crucial issues in the offshore energy industry, including the energy security crisis in Europe.

Speaking at the opening ceremony, Edward Daniels, Chair ONS Conference Committee said many countries are facing challenges ranging from the impact of COVID-19, the war in Ukraine, anxiety about the security of supply, the challenge of the energy transition, and even the highest inflation in decades hitting many countries.

“Lack of trust plays an important role in all of these challenges. What matters is we need to address this,” said Daniels

“Whether it’s trust in scientists and experts, trust in governments, and energy companies. We know that people have a hard time trusting energy companies. We need to restore the trust in the energy sector. We need to continue to invest and collaborate because it’s the only way that we can achieve our goal, as we all want to see a fair and clean energy system that has zero emissions in tackling climate change”

He added, “I believe there’s only one real way to restore trust. The energy business needs to do the right thing. And we need to be fully transparent with the targets and the actions that we’re taking.

“We need to be very open about the fact that the world can’t immediately dismantle the fossil fuel industry.

“The world is going to continue to invest in the supply of oil and gas for years to come. And at the same time, the world has got to tackle climate change to achieve a net zero emissions energy system.

“This is a balance we need to get right. And if it were easy, we’d have done it by now. This is a difficult thing to do.

“To move the world’s energy supply away from fossil fuels, we need to work on demand and supply, moving demand from hydrocarbon-based energies to low emissions forms of energy.

“Countries, companies, and communities have all set ambitious targets. But these targets have to be conjoined with practical action. The whole of the energy sector, including oil and gas companies need to act responsibly and drive the energy transition forward. But the energy sector can’t do it alone. We need to work together and collaborate with governments, customers, and the rest of civil society in trusting relationships.

“It’s going to take bright minds, brave politicians, bold entrepreneurs to crack this particular challenge”

As energy industry stakeholders, players, and political leaders scramble for resolutions to Europe’s current energy challenges at ONS 2022, His Royal Highness Crown Prince Haakon stated that ONS is a meeting place for the energy industry to further discussions and adopt new solutions to addressing issues around the offshore oil and gas industry.

He said, “Since the 70s, ONS has been a vibrant meeting place for the energy industry and government institutions. I have had the pleasure of following the ONS through decades from the aid solely of fossil fuels to its more recent focus on renewable energy sources. And today, the energy debate is at the heart of our most complex challenges.

“The discovery of oil and gas in Norway and the way we as a nation handled our newfound resources have over the last 50 years provided us with welfare, prosperity, and security. Several institutions have helped build the industry that we are so proud of.

“Trust is this year’s theme at ONS. How can we continue building trust in these unstable times?

“But trust is what connects us and society. It is a prerequisite for collaboration. And trust is the essence of sustainable business.

“The urgent green energy shift is not only about limiting the effects of climate change, it is also becoming a core issue of global security. The Russian invasion of Ukraine has underlined this fact.

“Energy scarcity is a global reality. We need to meet this challenge without putting an additional burden on the coming generations.

“Generations before us didn’t have the knowledge, technology, or opportunity that we have today. As we unite, we now know well, what is at stake.

“Leaders of the world gathered in Glasgow at COP 26 last year, set goals to find the pathway forward and to raise the ambitions. Climate goals are important in our way toward a greener future.

“To deliver on the targets, we are all dependent on you – the energy industry, bright minds, and bold decision makers to make the changes possible.

“As we all know the energy industry is one of the largest emitters of greenhouse gases, but the people in this industry hold the solutions for the future and they have all the knowledge, skills, and experience.

“It is not possible to achieve our climate goals without innovation, investment, and new technologies providing the world with affordable, secure, and clean energy.

“Green Innovation is the key to unlocking the solutions needed for sustainable development for all.

“We are the ones with the means to make the change because as Abraham Lincoln once said, The best way to predict the future is to create it. With these words, I declare the ONS conference 2022 open”