Hogan Lovells Hosts Second Annual Global Energy Summit in New York
15 May 2015
NEW YORK, 15 May 2015 – Hogan Lovells hosted its second annual Global Energy Summit: Global Energy Interdependence and Choice: Risks, Rewards, and Realities on Monday May 11 and Tuesday May 12 at the St. Regis Hotel in New York.
The exclusive event brought together more than 130 experts on global energy developments including executives from the world’s most influential energy companies from across the globe. Panels at the event examined current trends in global energy and provided an assessment of energy markets, policy, regulation, capital demands and investment opportunities.
Partner and Global Co-Head of Hogan Lovells Energy & Natural Resources Group Matthew Williams said:
“It was fantastic to witness the synergy and interplay among such a dynamic group of top executives, regulators and industry experts during the two day event. The key focus during the Summit was global energy interdependence and choice, which has become a strategic focus within the industry as the potentially competing demands of security of supply and consumer pricing play out."
Dr. Daniel Yergin, Founder and Vice Chairman, IHS Cambridge Energy Research Associates kicked off the event with a discussion on the opportunities to support the development of energy projects and security of supply in emerging markets and around the globe with Anita Marangoly George, Senior Director, Energy and Extractives from The World Bank Group and Sean Klimczak, Senior Managing Director, Private Equity from The Blackstone Group L.P.
Reflecting on the discussion Scot Anderson, partner and Global Co-Head of the Energy & Natural Resources Group, said:
"The conversation started by acknowledging the need for an additional capital investment in the energy sector of $600 to $800 billion dollars. That is an amazing number, and evidence of the challenges and opportunities facing the energy industry. The panelists also discussed projects in all energy sectors and around the world that are meeting that need. It is clear from this conversation that companies and investors can design creative and stable projects to serve the world's energy needs."
Eric Cantor, Vice Chairman and Managing Director, Moelis & Company led the Breakfast Keynote looking at the importance of energy issues in U.S. politics today and how trade in the Asia Pacific region is going to dominate this century's economic growth. Following Mr. Cantor’s presentation, Franklin (Lynn) Orr, Under Secretary for Science and Energy, U.S. Department of Energy discussed how the development of new technology and discoveries in fundamental science are essential in this exciting time for the energy sector.
The day then continued with a series of three panel sessions on current hot topics within the industry:
- Distributed Energy
- Impact of Oil Price Volatility
- Leadership in Energy
Brian Chappell, partner in Hogan Lovells Energy and Natural Resources Group, moderated the discussion on distributed energy, and the views of a distinguished panel:
- Robert M. Blue, President of Dominion Virginia Power
- Theodore Craver, Jr., Chairman, President and Chief Executive Officer of Edison International
- David R. Hill, Executive Vice President and General Counsel of NRG
- Neil “Dutch” Kuyper, Chief Executive Officer of Parker Ranch.
Summarizing the session, Brian said:
"We had an interesting and varied discussion on the drivers of distributed energy and the impact of challenges facing the industry, looking at, for example, how customer demand is continuing to drive the growth of new technologies and solutions for integrating distributed energy into electric systems and regulatory schemes that were originally designed for centralized power generation systems.”
The Summit also addressed the impact of oil price volatility and Hogan Lovells Of Counsel Lis Blunsdon chaired a lively discussion with views from:
- Osmar Abib, Managing Director, Global Head Oil and Gas of Credit Suisse Group AG
- Ignacio Iribarren, Principal Investment Officer of IFC Infrastructure Fund
- David Simpson, Managing Director, Energy Markets Division of Macquarie Bank Limited
- Robert M. Tichio, Partner at Riverstone Holdings LLC
- Paul Zecchi, Chairman and Chief Executive Officer of Central Resources, Inc.
"There were perhaps more questions raised than answers on this issue and no firm conclusions as to whether lower prices are the new normal or whether prices will rise again.
"One point on which we were in agreement is that there is a great deal of capital and interest in the oil and gas sector, however the question is what will drive investment and where will it be?"
Partner and Global Energy Summit Chair Kevin Lipson led the final panel of the day, focusing on leadership in energy, in particular the concerns, challenges and opportunities for CEOs in the sector in a turbulent market.
- Karen Alderman Harbert, President and Chief Executive Officer of the Institute for 21st Century Energy for the U.S. Chamber of Commerce
- Thomas F. Farrell, II, Chairman, President, and Chief Executive Officer of Dominion Resources, Inc.
- Russell K. Girling, President and Chief Executive Officer of TransCanada Corporation
- Masumi Kakinoki, President and Chief Executive Officer of Marubeni America
- Michael J. Wallace, former Vice Chairman and Chief Operating Officer, Constellation Energy.
The closing keynote address, focused on the future of the grid, was delivered by Shaun Chapman, Senior Director of Policy & Electricity Markets of SolarCity Inc.
Commenting on the event Summit Chair Kevin Lipson said:
"What really struck home at the Summit is the optimism of the leaders in our sector despite the many challenges they face. There is a real sense of entrepreneurship and responsibility. Hogan Lovells is ideally placed to advise on the issues affecting this highly regulated sector at the intersection of business and government. This is an exciting time to be a part of the energy sector."
For more information about the event and an ongoing discussion of related issues, please visit the Hogan Lovells’ Global Energy Summit microsite at http://www.hoganlovells.com/energysummit/.