World news story

Launch of 2017 BP Energy Outlook and Statistical Review of World Energy in Greece

Presentations at the British Residence covered several aspects of the global energy scene.


The event

On Wednesday 28 June 2017, the Deputy Head of Mission Mr Andrew Staunton and the Head of Global Macroeconomics of BP Mr William Zimmern hosted an event to launch the BP Energy Outlook and Statistical Review of World Energy for the first time in Greece. It attracted an audience of top level guests, CEOs of the leading energy companies in Greece, government officials, former Ministers of Energy and MPs, as well as think tanks.

The BP Energy Outlook was published in February 2017 and is considered a base case, which outlines ‘the most likely’ path for energy demand based on assumptions about future changes in policy, technology, and the economy.

Mr Andrew Staunton welcomed the guests and pointed that

it is also an exciting time for energy in Greece. The British government strongly believes that Greece can play a crucial role in providing improved security and diversification of supply”. He then invited Mr Amir Ibrahim, representative of BP Oil Hellenic to make a statement, who specifically referred to the two successful partnerships of BP in Greece, one with HELPE and the other with Energean Oil & Gas.

Mr William Zimmern, made a presentation covering several aspects of the global energy scene and then responded to a number of questions and observations from the audience.

In the second part of the event, Mr Alexandros Lagakos, Chairman of Greek Energy Forum, hosted a panel discussion based on the Energy Outlook with William Zimmern, Dr Athanasios Dagoumas, Assistant Professor in Energy and Resource Economics in University of Piraeus and Ms Alexandra Sdoukou, Board Member in Hellenic Hydrocarbons Resources Management SA, providing a Greek reflection on the sustainability, hydrocarbons and energy infrastructure.

Energy Sector Overview

According to the 2017 edition of the BP Energy Outlook, published today, global demand for energy is expected to increase by around 30% between 2015 and 2035, an average growth of 1.3% per year. However, this growth in energy demand is significantly lower than the 3.4% per year rise expected in global GDP, reflecting improved energy efficiency driven by technology improvements and environmental concerns. The Outlook looks at long-term energy trends and develops projections for world energy markets over the next two decades.

Developments on the energy sector in Greece have attracted the interest of international players: The Trans-Adriatic pipeline (BP is a shareholder), the IBG interconnector, LNG storage terminals, licensing rounds for hydrocarbons exploration, and unbundling of gas and electricity market. Projects of Common Interest like the East-Med pipeline. There are opportunities for British companies in gas sector, pipeline projects, energy saving and renewable sectors.

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Published 4 July 2017