Navigating Policies, Pathways, and Processes on the road to net zero
A confluence of crises has fundamentally impacted energy markets, highlighting the need for resiliency while adding impetus to the push for renewable energy and the drive toward carbon emission reductions. This session focuses on key sectors that are increasing collaboration in response to calls for net zero: Refining, chemicals, and agricultural markets. Our expert speakers will explore challenges and opportunities from crude, NGLs and refined products to biofuels, hydrogen, carbon sequestration and petrochemicals, including crude oil to chemicals.
Session 1: Synergies and Collaboration across Energy Value Chains
8:00 AM: Welcome Remarks & Overview - Kurt Barrow, Head of Oil Markets, Midstream & Downstream Research, S&P Global Commodity Insights.
8:10 AM: Reshaping Global Oil Supply - Ha Nguyen, Executive Director of Global Oil Markets, S&P Global Commodity Insights
The current cycle of surplus in the crude oil market has been supported by growth in the Americas and the management of the market by OPEC+. The United States, Canada, Guyana, and Brazil are key growth areas in the non-OPEC sector, with the United States driving global demand for lighter crude quality. Naphtha is a major feedstock and is expected to continue playing a significant role through 2035. Additionally, there is a shift in oil export markets towards the East of Suez as the West of Suez region aims to meet zero emission targets, leading to a decline in oil demand.
8:30 AM: A Shift in Demand - Marisa Denosowicz, Research & Analysis Director, S&P Global Commodity Insights
As demand for fossil fuels decrease the demand for petrochemical base chemicals increase
8:50 AM: Global NGL Feedstock Availability – How changes in oil and gas production will impact the supply and demand dynamics of NGL feedstocks - Veeral Mehta, Executive Director, Midstream NGL, S&P Global Commodity Insights.
The global supply of NGLs has grown significantly over the past 15 years, primarily driven by oil based associated gas production from the US, making the US the largest exporter of NGLs. This influenced trade patterns and pricing as the traditional markets (refining, residential, commercial, and industrial) could not absorb the glut in supply, and significant investments were made within the petrochemical sector to consume NGLs as a feedstock. This session will cover trends in NGL feedstock availability and its impact on the downstream petrochemical markets.
9:10 AM: Q&A
Session 2: Decarbonization Pathways
10:30 AM: Session Introduction - Kurt Barrow, Head of Oil Markets, Midstream & Downstream Research, S&P Global Commodity Insights
10:35 AM: Decarbonizing the petrochemical sector: How can sugarcane help address its climate commitments? - Paula Kovarsky, Vice-President for M&A, Sustainability and Chief Strategy, Raízen.
10:55 AM: Renewable Naphtha Supply Dynamics from "By-Product" to 'Co-Product' - Stephen Li, Consulting Director, Biofuels, S&P Global Commodity Insights
11:10 AM: Taking stock of global EV adoption: What’s working and what are the obstacles? - Jeff Meyer, Director, Energy and Mobility, S&P Global Commodity Insights.
The global EV market is expanding, led by earlier adopters swayed by environmental considerations, the “cool factor” of the vehicles, and government incentives. Yet some incumbent automakers have signaled caution about broader consumer acceptance, and stakeholders are increasingly aware of the lingering challenges of affordability and ease of public charging. This session will address questions including
In which markets is EV adoption leading and lagging – and why? What are the prospects for EVs in both advanced and developing markets? How acute will battery raw material supply challenges be, and how will companies navigate the geopolitics of battery supply chains?
11:25 AM: Clean Hydrogen and Chemicals: How will technology and policy impact markets? - Brian Murphy, Senior Analyst, Hydrogen and Low Carbon Fuels, S&P Global Commodity Insights.
Hydrogen is a key component of the chemicals ecosystem, operating as both a feedstock and byproduct revenue stream. Globally, interest in clean hydrogen is now translating into clear policy in the form of new regulations and subsidies that will have downstream effects on chemicals markets. In this session, we will discuss the role of hydrogen in the refinery and beyond, how new technologies and policies are driving clean hydrogen market development, and potential effects on global chemicals markets in the coming years.
11:40 AM: Q&A