The 3rd International Energy Risk Management Conference was held
The 3rd International Energy Risk Management Conference was held on May 28, 2020 with 2020 international participation. Although this conference were planned to be held in İstanbul, it became an online conference due to COVID-19.
Within the framework of the conference, answers to the following questions were discussed.
- What impact does the global energy transformation have on corporate risk management strategies and the sustainability of energy companies?
- How to reduce operational and financial risks and ensure stability of investments in energy projects in conditions of sanctions, high volatility of energy prices, the influence of the pandemic COVID-19 and other uncertainties?
- What are the threats and prospects of the transition to a low-carbon economy for oil and gas producers and refiners?
- How can digitalization be used as a risk management tool at all stages of the production process?
- Can insurance be considered as a strategic decision to protect property interests of a business?
The Deputy Energy Minister of Russia had started the conference with opening remarks. Turkey were represented by Safa Uslu Director General, International Relations Department at Ministry of Energy and Natural Resources, and Ahmet Türkoğlu from Turkish Energy Exchange. Ahmet Türkoğlu made a detailed presentation on session “TRANSITION TO A LOW-CARBON ECONOMY – THREATS OR NEW PROSPECTS FOR DEVELOPING OIL AND GAS PRODUCTION AND PROCESSING?” as Alexey Rybnikov CEO of Saint Petersburg International Mercantile Exchange. Presentation of Turkoğlu focused on how the world and European energy markets were affected especially during pandemic, how market operators could play a role in the energy markets and how Energy Exchange Istanbul prepared for the end of the existing natural gas contracts of Turkey. In his presentation, Türkoğlu states that the existing long-term gas contracts of Turkey pressures tariffs so much that spark of gas power plants stays lower compering Europe pointing out that Turkish carbon markets are not yet opened.
According to Türkoğlu, every crisis environment is an opportunity at the same time so that all market operators worldwide should provide necessary products and services for market participants. In his presentation, Ahmet Türkoğlu highlighted that Physically Settled Electricity Futures will be open at the end of the year and the Physically Settled Gas Futures will be open in 2021 at EPİAŞ.
In his presentation, Ahmet Türkoğlu mentioned that EPİAŞ continues to work in order to provide the necessary tools in line with the needs of the participants by closely monitoring the world and European markets as a key market operator in the region.
