Muscat:The Ministry of Economy, through its National Foresight Office, organized the second session of the 'Future Dialogues' program titled 'Navigating Transformations in the Global Energy Landscape'. This session focused on reviewing the current and future shifts in energy markets, assessing how economic, geopolitical, and technological developments are influencing supply and demand trends and supply chains, and addressing the considerations linked to these shifts.
According to Oman News Agency, the session aims to enhance understanding of global transformations and their effects on the national economy. It seeks to improve the application of foresight tools in evaluating strategic options and preparing for changes, while also offering a platform for dialogue between leaders, officials, specialists from government entities, the private sector, and international experts. This interaction is intended to connect future knowledge with planning priorities, policymaking, and decision-making.
The session explored three pathways concerning energy security economic growth with productivity gains influenced by artificial intelligence, the increasing importance of resource security and national interests, and the long-term requirements for environmental security, aiming for net-zero emissions by 2050. These pathways serve as methods to explore possibilities, test options, and prepare for outcomes.
In discussing energy security, four key pillars were highlighted access to energy, supply reliability, resilience, and recovery from shocks, and adaptation to future changes. The session emphasized the necessity of resource diversification, infrastructure availability, and the flexibility to respond to supply and demand changes. Discussions also focused on restoring essential services and creating the economic and investment conditions necessary to develop energy systems.
Presentations during the session addressed potential pathways for the demand for oil, natural gas, and electricity, noting the varying pace of transition across sectors and regions. Topics included the future roles of oil in aviation and petrochemicals, natural gas in industry and power generation, the prospects for liquefied natural gas, the evolution of electric vehicle usage, and the investment needs these changes impose on production, grids, and storage.
The "Future Dialogues" program is designed to accumulate knowledge on trends and transformations impacting development's future. It facilitates the exchange of insights, methodologies, and international experiences among experts and specialists, aiming to enhance future-oriented thinking among leaders and institutions, develop the capacity to test hypotheses and explore alternatives, and support the use of dialogue outcomes in addressing national issues and formulating proactive policies.
