(MENAFN - The Peninsula) The Peninsula
H E Abdullah bin Hamad Al Attiyah, Chairman of the Abdullah Bin Hamad Al-Attiyah International Foundation for Energy and Sustainable Development lead a panel session on Day One of the 8th Bosphorus Summit in Istanbul, on Tuesday. The panel session focused on the Future of Energy and in particular the role of Liquefied natural gas (LNG). Al Attiyah was joined by Hilmi Güler, Former Minister of Energy, Turkey, and Süreyya Yücel Özden, President of DIEK Energy Business Councils, Turkey.
In response to a question about the general trends effecting and shaping the Future of Energy, he commented that a diversified energy mix is a solution for most countries. He said that the preferred use of gas enables a substitution away from coal and fuel oil for power generation purposes thereby reducing local CO2 emissions.
'Participating in the 8th Bosphorus Summit is a great opportunity to share experiences and insights on key energy matters with my peers from across the globe, said Abdullah bin Hamad Al Attiyah.
In addition, he noted that gas should be an integral part of the long-term energy mix because it is an abundant, affordable, available and acceptable source of energy. Qatar is well positioned as the world's LNG capital to provide affordable and reliable gas and despite the blockade, the country is honoring all commitments to existing customers. Energy security for the region, is a priority for the State of Qatar.
He went on to explain that renewable sources of energy (solar and wind) will continue to be installed as technological processes reduce costs. Battery technology will be a major game-changer in allowing renewable sources to be stored when solar and wind energy is not available. Of course, electric vehicles will also be major users of battery technology. We expect the use of electric vehicles to continue to grow.
The panellists touched upon their unique experiences managing energy and resources in their respective countries as well as macro-economic developments and key political events affecting the energy industry globally. The Al-Attiyah Foundation is also co-managing the program for the second day of the summit, dedicated to Energy and Sustainability.