This paper discusses business and technological innovation as essential imperatives for future energy sustainability. It argues that diversifying energy portfolios, developing new technologies, globalizing operations, and partnerships across stakeholders are needed. The paper proposes pathways for sustainable energy development, including evaluating options based on economic, environmental, social and energy security factors. A flow chart depicts the pathway, which involves conserving total critical natural resources and ensuring the sum of all capital costs remains constant over time to enable sustainable development. Business innovation, technology, policy frameworks and diversifying energy sources can help address challenges but require cooperation across industry and government.
Smart Investing is all about seeing the big trend and leaping on it
before everyone else does. While “zero-subsidy” is a new term in the wind power industry it will likely become an even greater and viable opportunity in the next years. Discover the real trends, risks and opportunities behind this novel approach.
This document summarizes a workshop on global energy productivity transformations. It discusses how improving energy productivity can benefit economies through increased employment, stronger government finances, and economic growth. While momentum is growing for international cooperation on energy efficiency, implementation depends more on domestic policies. The document analyzes historical increases in energy productivity in countries like China, India, the US, and Europe. It notes that comparisons between countries are sensitive to data and metrics used.
Knowledge sharing and continious improvement strategies for the offshore wind...Stavros Thomas
This survey research examined the implementation and
effectiveness of continuous improvement and knowledge
sharing methods for the offshore wind power industry to
mitigate the LCOE, optimize performance and establish
business excellence.
This document summarizes Bill Aulet's perspective on what is wrong with energy investing. Some key points:
- While renewable energy receives significant investment, the hydrocarbon industry still accounts for 80-90% of energy demand and will for decades. More focus should be placed on improving hydrocarbon extraction and reducing its environmental impact.
- Private equity money is flooding into renewable/alternative energy but not enough is going towards improving the hydrocarbon industry. Investors are "majoring in minors" by overemphasizing renewables.
- Entrepreneurship in the energy sector is uniquely difficult compared to other industries due to factors like large scale, long timelines, regulation, and dependence on existing infrastructure. Not enough
This document summarizes the conclusions of a book that assesses the current and future potential of renewable energy technologies for electricity generation. The authors address whether there is a case for promoting renewable energy and the implications of widespread adoption of renewable generation on power markets and systems. Key points include:
- Government intervention, not market forces, is largely driving the growth in renewable generation through various support schemes.
- There are valid justifications for some support of renewables, such as addressing climate change, but no justification for subsidizing the most expensive forms of renewable energy.
- Widespread adoption of intermittent renewable generation like wind will significantly impact power markets through increased price volatility and a need for more flexible generation capacity.
The document discusses emerging trends in energy technology and the skills needed for the energy sector. It identifies key trends like increased energy efficiency, growth of renewable sources like solar and wind, distributed generation, smart grids, and new technologies like biofuels, hydrogen, nanotechnology. It emphasizes the importance of education in STEM fields and certifications for jobs in energy. Challenges include making energy efficiency programs more viable and addressing technical maturity of renewable technologies.
Effective energy conservation techniques in industriesIAEME Publication
This document summarizes an article on effective energy conservation techniques in industries. It discusses how Indian industries have not focused enough on energy savings due to outdated machinery, high capital costs, and uncertainty about industry growth. It then outlines specific objectives to optimize asset usage, improve efficiency, promote renewable technologies, and reduce distribution losses. The expected outcomes include estimated energy savings of 30,000 MW through conservation programs with short payback periods for investments. Overall, the document advocates for strategies like management commitment, defined responsibilities, sufficient resources, and modern maintenance practices to successfully implement conservation opportunities.
This document provides a strategic analysis of Welspun Energy Limited (WEL), a leading renewable energy company in India. It analyzes WEL's vision, mission, core values, and performs a SWOT analysis. It also examines Porter's five forces model for the industry. The document finds that WEL has a first mover advantage in India but faces challenges from increasing competition. It recommends that WEL focus on cost efficiency, research and development, and expanding its global presence to maintain its leadership position in the renewable energy sector.
World Energy Council: Tracking Energy Transition Innovation- 2017Energy for One World
World Energy Council report- on innovation, year 2017
Views are by the Council, and not necessarily the views of the EFOW practice: how to drive change - and what deserves our time, organisation and investments.
The document outlines a pathway for transforming the global energy system to limit global warming to well below 2°C. Key points:
- Current policies will lead to global energy sector CO2 emissions exceeding the remaining carbon budget for 2°C in less than 20 years, necessitating faster transition.
- Renewable energy deployment must increase six-fold compared to current plans, supplying two-thirds of total energy and 85% of electricity by 2050. Electricity use must double, electrifying transport and heat.
- This accelerated transition could deliver over 90% of needed emissions reductions through renewable energy and efficiency, while growing the global economy, creating jobs, and improving welfare through reduced health and environmental costs.
The Economics of Transitioning to Renewable Energy SourcesChristo Ananth
Christo Ananth, Rajini K R Karduri, "The Economics of Transitioning to Renewable Energy Sources", International Journal of Advanced Research in Basic Engineering Sciences and Technology (IJARBEST), Volume 6,Issue 2,February 2020,pp:61-68
The document provides an overview of the International Energy Agency (IEA), including its mission to enhance energy reliability, affordability and sustainability. It lists the 31 member countries and 11 association countries of the IEA and notes the IEA examines issues across the full spectrum of energy through its work.
The document discusses the concept of energy productivity and argues that it is a better framework than energy efficiency for policymakers. Energy productivity focuses on obtaining greater economic output from each unit of energy consumed. It helps align environmental and economic development goals. While energy efficiency has improved greatly over decades, significant potential remains to be tapped through overcoming information barriers and other market failures. Tracking and improving energy productivity can set targets to meet energy, economic and environmental objectives.
This document discusses Australia's options for renewable energy and efficiency. It contains 5 chapters that examine key considerations for energy policy decisions, policy options to address market barriers for renewables, a methodology to model technology options to predict viability, and the potential of an energy services model to improve efficiency. The introduction emphasizes that establishing sustainable renewable policies requires considering environmental, social and economic factors of all energy generation given its importance and externalities.
The document discusses key issues for sustainable development using renewable energy technologies in India. It identifies several challenges: 1) technology selection depends on technical and commercial factors; 2) renewable energy investments are much higher than coal but provide risk; 3) availability of some renewable sources like wind and solar are intermittent and depend on weather conditions. Addressing these issues requires grid integration standards, fuel requirements, environmental standards, regulatory policies to encourage private investment, and demand side management. Overcoming these challenges will allow renewable technologies to play an important role in India's sustainable development.
For the global sustainability community,
the most effective catalyst of change
has long been seen as the informed
self-interest of the mainstream financial
community: if banks and investors
could be convinced of the proximity of
environmental risk or societal impacts,
then it has been assumed that capital
diverted from ‘unsustainable’ practices
would render all other interventions
unnecessary. In practice though, the
sustainability community has found
the financial sector a hard nut to crack.
Although recent years have seen a
substantial increase in the integration of
environmental, social and governance
(ESG) data forming part of investment
analysis, the continued emphasis on shortterm
results and incentives has pushed
longer-term environmental risks, such as
climate change, outside of the boundary
of risks contemplated by mainstream
analysts. That is, until recently.
Ten Energy System Dynamics and the Implications for Communications part 3 -...Burson-Marsteller China
Burson-Marsteller's China Chaired Global Energy Practice's third installment in the series Ten Energy System Dynamics - And the Implications for Global Energy Company Communications
This document provides an abstract for a research study on energy management in small and medium tile enterprises in Thrissur district, Kerala, India. The study aims to 1) identify the impact of energy management on profitability indices of efficient vs inefficient tile factories, 2) analyze motivations and impediments to improving energy efficiency, and 3) suggest measures to improve energy efficiency. 53 tile factories in Thrissur district were surveyed from 2008-2009. The document outlines the background of energy policy in India, importance of the SME sector, research gaps in understanding factory-level energy use and impacts on profitability, methodology used in the study, and hypotheses tested regarding relationships between energy efficiency and profitability indices and awareness/qualifications of
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
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To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
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Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer's aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
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In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
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Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission:
To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision:
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer's aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Our Achievements:
NATIONAL AWARD FOR BEST RESEARCH PROJECT (By Hon. President APJ Abdul Kalam)
GOLD MEDAL FOR RESEARCH ON DISABILITY (By Disabled’s Club of India)
NOMINATED FOR BEST MSME AWARDS 2017
5 STAR RATING ON GOOGLE
We have PhD experts from reputed institutions/ organizations like Indian Institute of Technology (IIT), Indian Institute of Management (IIM) and many more apex education institutions in India. Our works are tailored and drafted as per your requirements and are totally unique.
From past years our core advisory members, research team assisted research scholars from various universities from all corners of world.
Subjects/Areas We Cover:
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Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission:
To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision:
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer's aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Our Achievements:
NATIONAL AWARD FOR BEST RESEARCH PROJECT (By Hon. President APJ Abdul Kalam)
GOLD MEDAL FOR RESEARCH ON DISABILITY (By Disabled’s Club of India)
NOMINATED FOR BEST MSME AWARDS 2017
5 STAR RATING ON GOOGLE
We have PhD experts from reputed institutions/ organizations like Indian Institute of Technology (IIT), Indian Institute of Management (IIM) and many more apex education institutions in India. Our works are tailored and drafted as per your requirements and are totally unique.
From past years our core advisory members, research team assisted research scholars from various universities from all corners of world.
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Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission:
To provide breakthrough research works to our clients through Perseverant efforts towards creativity and innovation”.
Vision:
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer's aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
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In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
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NATIONAL AWARD FOR BEST RESEARCH PROJECT (By Hon. President APJ Abdul Kalam)
GOLD MEDAL FOR RESEARCH ON DISABILITY (By Disabled’s Club of India)
NOMINATED FOR BEST MSME AWARDS 2017
5 STAR RATING ON GOOGLE
We have PhD experts from reputed institutions/ organizations like Indian Institute of Technology (IIT), Indian Institute of Management (IIM) and many more apex education institutions in India. Our works are tailored and drafted as per your requirements and are totally unique.
From past years our core advisory members, research team assisted research scholars from various universities from all corners of world.
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Surapong soponkij cluster growth and energy demand cld ai summitSurapong Soponkij
This paper uses system dynamics modeling to simulate the relationships between cluster growth, economic growth, and energy demand. It presents two reinforcing causal loops showing that cluster growth drives employment and government policy, and cluster growth promotes collaboration between research institutions and innovative SMEs. A balancing causal loop diagrams the interactions between various energy factors and how changes in energy requirements can bidirectionally impact energy consumption, price, and imports. The model suggests cluster growth and higher energy efficiency can enhance economic efficiency by reducing energy intensity and demand. Government policy aims to improve cluster energy efficiency and leverage infrastructure to support new industrial SMEs and regional development.
The document discusses key findings about the oil and gas industry and energy transitions from an IEA analysis. It finds that:
1) The oil and gas industry faces the challenge of balancing short-term returns with its long-term license to operate as societies demand reductions in emissions alongside energy.
2) No company will be unaffected by clean energy transitions, so every part of the industry needs to consider how to respond.
3) So far, investment by oil and gas companies outside their core business has been less than 1% of total capital expenditure.
Sapient Services on the significance of Techno Economic Viability for sustain...Sapient Services
Techno Economic Viability (TEV) is an assessment carried out by Sapient Services to evaluate the feasibility and profitability of implementing technological solutions within a business or project. It involves analyzing the potential benefits, costs, and risks associated with the adoption and utilization of new technologies or IT systems.
Visit - https://sapientservices.com/tev-study.php
The Role of Policy in Accelerating the Energy TransitionChristo Ananth
Christo Ananth, Rajini K R Karduri, "The Role of Policy in Accelerating the Energy Transition", International Journal of Advanced Research in Basic Engineering Sciences and Technology (IJARBEST), Volume 6,Issue 2,February 2020,pp:25-33
The Way Forward Decisive & Cohesive Action for Future Ready Jharkhand.pptxminenvis
ESG serves as a tool to understand the behaviour of the companies. Further, In the path to net zero by 2070, it can help forecast the future performance of coal mining companies in the state that are facing sustainability challenges.
The document discusses global cleantech trends and the cleantech scenario in India. Some key points:
1) Cleantech is enabling a transition to a more resource efficient, low carbon economy driven by factors like population growth, increasing energy demand in emerging markets, and climate change.
2) Global investment in clean energy grew significantly from 2004-2012 but declined in 2012, though renewable capacity continued growing due to falling technology costs. Private investment is increasing as governments move from subsidies to market-based support.
3) Emerging markets like China are now major investors and exporters of cleantech, driving transactions in other regions. Government policies aim to help industries expand globally amid domestic constraints.
A brand new report issued by oil giant BP that looks at how current and future technology will more than meet the expanding energy demands of the world for generations to come. Oil and gas reserves alone will double from their present levels by apply current technology, according to the report.
This document provides a case study of the xyz field using the Eclipse reservoir simulator. The Eclipse reservoir simulator was used to model the xyz field. The case study analyzed the field and provided insights using the reservoir simulation software.
Re-Engineering Africa’s Economy through Oil and Gas ResourcesModesty Jnr.
The document discusses strategies for sustainably harnessing Africa's oil and gas resources for economic development. It outlines Africa's significant hydrocarbon potentials but also challenges like limited refining capacity and political instability. Key recommendations include:
1) Saving excess oil revenue and investing it to diversify economies and build infrastructure.
2) Developing sustainable energy frameworks that consider economic, environmental, social and security factors over long time horizons.
3) Capturing more resource value through negotiating production sharing contracts, technology transfer and developing local talent.
Improving Oil Recovery through Microbial Enhanced TechniqueModesty Jnr.
Microbial enhanced oil recovery (MEOR) utilizes microorganisms and their byproducts to improve oil extraction from reservoirs. MEOR works by microbes reducing oil viscosity, producing gases like CO2 to displace oil, generating biomass, selectively plugging pores, and secreting biosurfactants. While MEOR offers benefits like being inexpensive and environmentally friendly, challenges include ensuring microbes can survive harsh reservoir conditions and don't damage infrastructure. After nearly a century of research, MEOR has proven effective in some fields but more integrated testing is still needed to fully establish it as a viable recovery method.
Prediction of wax Deposition Risk of Malaysian Crude...Modesty Jnr.
This document summarizes a study that aimed to predict wax deposition risks in Malaysian crude oils. It used the Standing viscosity-temperature correlation model for dead crude oils to predict wax crystallization points. The predicted points showed good agreement with experimental values, with an average absolute deviation of 11.71%. Physiochemical properties of reference crudes from different Malaysian fields were characterized. The study employed empirical correlations to estimate viscosity-temperature relationships and predict wax deposition tendencies based on changes in crude viscosity with temperature.
This document summarizes a study that investigated factors influencing paraffin wax deposition during crude oil production. The study used a laboratory flow-loop system to simulate wax deposition. The experimental results showed that:
1) Wax deposition decreased with increasing temperature difference between the waxy fluid and cold surface, and with increasing flow rate.
2) The amount of paraffin wax deposited initially increased with time, reached a maximum value, and then gradually decreased.
3) Wax concentration percentage weight in the deposit slightly varied with time as the temperature changed at a constant flow rate.
4) The integration of temperature difference, flow rate, residence time, and wax concentration can significantly impact wax deposition during crude
1) The oil and gas sector is important for Malaysia's economic growth and development goals, but it faces challenges in sustaining production increases to meet rising energy demand.
2) Key challenges include maturing oil and gas fields leading to production declines, the need for enhanced oil recovery techniques for older fields, and increasing exploration and production costs.
3) Technologies like improved 3D seismic imaging and enhanced oil recovery methods can help maintain and increase reserves, but require substantial investments and addressing issues like ensuring offshore infrastructure can last decades.
1. SPE 147773
Business and Technology Innovation: Essential Imperatives for Future
Energy Sustainability
Ekeh Modesty Kelechukwu, Dept. of Chemical and Petroleum Engineering, UCSI University
Copyright 2011, Society of Petroleum Engineers
This paper was prepared for presentation at the SPE Asia Pacific Oil and Gas Conference and Exhibition held in Jakarta, Indonesia, 20–22 September 2011.
This paper was selected for presentation by an SPE program committee following review of information contained in an abstract submitted by the author(s). Contents of the paper have not been
reviewed by the Society of Petroleum Engineers and are subject to correction by the author(s). The material does not necessarily reflect any position of the Society of Petroleum Engineers, its
officers, or members. Electronic reproduction, distribution, or storage of any part of this paper without the written consent of the Society of Petroleum Engineers is prohibited. Permission to
reproduce in print is restricted to an abstract of not more than 300 words; illustrations may not be copied. The abstract must contain conspicuous acknowledgment of SPE copyright.
Abstract
Exploration of petroleum resources is considered synonymous with the lifeblood of modern society and how it
meets its energy needs. Yet, the entire globe has been unimaginably seized by the soon visible energy crisis and
consequently demanding from humanity a systematic blue print of its sustainability. The future looks very
different from our routine hydrocarbon exploration and production practices, hence to succeed in such future,
players in the petroleum industry will need innovative business strategy to make their portfolios more diverse;
develop new technologies that will help to establish the heartlands of sustainability; globalise operations and best
practices; and invest in partnerships that create value across the strata of stakeholders. However, energy
sustainability is a complex challenge, which involves, among others; petroleum industry players, private sector
and Government. While parallel development in creating business friendly-environment and innovative
technological advancement will serve as a vehicle to enable success in future energy sustainability. Technology
will significantly influence the availability, choice and cost of future energy. Investment in R&D is crucial to
provide energy efficient-technologies through private sector partnership. Business plays an important role in
energy efficiency and sustainability, within its sphere of responsibility, in partnership with stakeholders and
investment diversification. It should be taken into account that business operates well under sound predictable
long term enabling frameworks and good governance. This paper focuses on the opportunities of inventing new
conceptual dynamics to ensure sustainable energy Future.
1. Introduction
As global energy demand steadily increases and output from producing fields and new oil discoveries declines,
supplying the energy for our global future is the major challenge facing the oil and gas industry today. Over the
next 50 years, the world’s energy needs will double or triple, presenting the inevitable competitive landscape and
a new map of world energy in view, while the current high cost of exploration and development, reminds us that
the consequences of failure are becoming more pronounced. The technical challenges, increasing cost of new
technologies and environmental sensitivity creates additional risk and broadens the uncertainty of energy future.
“As International Energy Agency (IEA’s World Energy Outlook 2010) puts it, our actual global energy situation is
vulnerable and expensive” and anticipates growth of 60% in energy consumption by 2035. This visible harsh
reality can have acute impacts on energy, and in turn economic stability, which requires swift and decisive action
through a synergized strategy to meet future energy demand. This means that more new discoveries are needed in
unfriendly areas with good business incentives, better technological capabilities and sufficient investment in long-
term development that meets the need of the present and secure our energy use without compromising the ability
of future generations to meet their needs. Emphasis on the world’s energy future through sustainability framework
would usher in a future that is rooted on the efficient and secured use of energy, sourced from diversified range of
2. 2 SPE 147773
business network, technology innovation and uncompromised energy management system. In the face of global
energy threat, the pivotal role of technological innovation can enable oil and gas companies to push the limit of
the present and fully exploit their potential. A parallel business-oriented industry / government coalition will form
an incredible advance, to provide long-term investment in production; natural resolution of conflicts raised in
connection with oil and gas development and builds a consensus among stakeholders, forming framework
required for energy sustainability. This paper has suggested a concerted pathway for sustainable energy future
development.
2. Need For Sustainable Energy Development
The sustainability imperatives running through the world’s consciousness presently, allows the oil and gas
industry and the global society, to conduct a debate, and reach a resolution that is driven by recognition of what
future generations may require and define a pathway to meet their expectation. This evaluation often based on
value based judgments; (fig.1) invites all the stakeholders to weigh social, environmental and economic benefits
of any given course of action against the detriments.
In this globalization era, business strategy, technology and human values are changing every day. Most oil and
gas companies know that how they respond to the challenges of sustainability will profoundly affect the
competitiveness and perhaps even the survival of their organization. Yet most are flailing around, launching a
hodgepodge of initiatives without any over-arching vision or plan. That’s not because they don’t understand the
necessity of sustainability as a strategic fulcrum. Rather, it’s because they think they are facing an unprecedented
pathway for which there is no road map. Sustainability is an emerging framework, and thus its course is to some
extent predictable as the vehicle for the near future R&D for technology development.
3. Diversification Strategy for Energy Sustainability Development
In balancing supply and demand, energy providers and policy-makers need to re-engage their commitment and
ensure that countries can count on dependable supplies. Energy security is a major strategic challenge as most oil
and gas resources are located in a small number of countries, with ten countries controlling 80% of global oil
reserves and three possessing over half the world’s natural gas. The whole industry is moving in the direction of
diversifying portfolios, because diversity brings more flexibility, a broader base of experience and a stronger
competitive climate (The Oil & Gas Review 2003, vol.2). However, the undeniable challenge lies in finding away
to reconcile the necessity and demand for energy supply with its impact on natural energy resources in order to
ensure sustainable path for development. Apart from the integration of business and technological innovation, the
role of both non-renewable and renewable sources of energy is vital in the formulation of framework for long
term reliability and security of energy supply. Diversification is metamorphosing into inescapable strategic
imperatives for most major industry stakeholders. Diversification concept, referring to incipient business,
economic and technological shifts, which force traditional and persistent shifts in how oil and gas companies
invest and compete. Such transformations arising from technological innovation or from new ways of doing
business can magnify the process of change and question the old-wisdom of single source of energy dependency.
Over the past 10 years, environmental issues have steadily encroached on business’ capacity to create value for
customers and shareholders. Globalization workforces and supply chain have added to environmental pressures
and attendant business liabilities. The rising new world economies, notably china and India, has intensified
competition for natural resources (especially oil) and added a geopolitical dimension to sustainability. These
factors can be diminished by launching a systematic approach to investment, technology, policy and diversify
sources of energy, informed by looking at the future in terms of pathways to achieving the optimal efficiency. In
considering these pathways, the oil and gas companies should seek to identify forms of energy that can be
efficient, cost effective and material in the short, medium and long term at the same time environmental
acceptable and providing energy security.
4. Business and Technology Innovation for Sustainable Energy and Economic Development
Technology will affect the choice and cost of future energy systems. Investment in R&D in needed now to
provide energy efficient technologies in the medium and long term. While the private sector remains the main
3. SPE 147773 3
vehicle for technology diffusion through its day-to-day business of technology development, investment,
commercialization and dissemination, governments have an important role. Such important roles as; providing an
R&D friendly environment and offering high-quality intellectual property right protections to encourage
investment by the private sector in R&D; encourage technological development and deployment by supporting
research centers and universities involved in R&D on long-term energy and energy efficient policies; engaging in
a dialogue with major groups on the advancement of new technologies and anticipating the legal and regulatory
framework for new technologies. Technology innovation would open up new frontiers and provide new
techniques that enable the energy providers to maximize their competitiveness and develop their business in new
ways. Such essential benefits as finding and extracting previously trapped resources of oil and gas; often in
challenging settings such as ultra deepwater or complex rock formations and carbon capture and storage will
bring energy resources within commercial reach. Policies promoting the development of energy efficient
technologies may also include simplifying planning and permitting for big hydro and nuclear; product standards
for appliances and building codes; subsidies for fast market penetration of renewable energy and how to get these
to scale and thereby reduce costs for these technologies and risk guarantees for these new major technologies.
Government should keep all energy options open and avoid choosing “winners and losers” among technologies, at
the same time considering investment requirements for the range of options in the energy mix. Investments are
driven by expectations of future returns which will depend on future market conditions, so providing innovation-
friendly markets for companies should become one of governments’ main goals, for lack of these frameworks
constitute a major barrier to investments in research and stifles innovation.
Managing energy sustainability in this new future would require distinctive business structure that will enable
frameworks for a synergized megatrend in new business adaption, incentives and attractive partnership
capabilities to push back the limits of possible economic development. The important role of business in energy
efficiency, within its sphere of responsibility, in partnership with other stakeholders is fundamental. It should be
taken into account that business operates well under sound, and predictable long term enabling framework that
enhances the ability of business to make optimal contributions to improving energy efficiency. Enabling
frameworks, taking into account economic, environmental and social implications, are critical to the success of
both governmental policy and to motivate and support private sector contribution to energy efficiency and
innovation in technology resulting in sustainable future. Countries need to provide innovation-friendly markets
for their companies, the lack of which constitute a major barrier to investment in research and development and
stifles innovation. Governments should ensure the development and deployment of leading-edge technologies
through partnerships and incentives and an approach to mitigate long-term market risk and deliver secure benefits
for large scale, low-carbon and efficient new technology projects. These conditions when provided by
governments will attract and support business investments and innovations in the energy sector. Business supports
partnerships as a very practical means of contributing to improvement of energy efficiency and delivering
sustainable development. For instance, innovation systems and human resources for science and technology
accounting for better energy efficiency can be achieved through promotion of better public-private partnerships,
in particular of the industry-university relations. Government, industry and other stakeholders will have to work
hard together to improve energy sustainability.
5. Pathways for Energy Sustainability
The road map is very clear: create a vision that moves systematically through four stages of value based criteria.
Hence, it’s important to find out the unique competitive differentiators in this new landscape. Therefore, pathway,
and sustainability analysis of energy future are essential which are true for any new megatrend and /or system.
This is necessary to satisfy success in these value based criteria, hence, these competitive differential factors and
its pathway travelled with time (Hossain et al, 2009). According to Khan and Islam, the pathway of a sustainable
technology is its long term durability and environmentally wholesome impact while an unsustainable technology
is marked by ∆t → 0 (khan, M.I & Islam, M.R., 2007).
In this era of globalization, no industry or system can address energy sustainability challenges in isolation. While
technology innovation and new business strategy does not substitute for government commitments, they remain
powerful means for industry and stakeholders to contribute to sustainable development objectives. Thus
sustainability concept is the vehicle for the near future R&D for technology development. A sustainable system
will work towards natural process, and nature is symmetric. (Khan et al. 2005c, 2006) stated that the model “time-
4. 4 SPE 147773
tested” of sustainability hypothesizes the sustainability of a technology which can be achieved if it emulates
nature. In nature, all functions or techniques are inherently sustainable, efficient and functional for an infinite time
period, i.e. ∆t → ∞. Therefore, following the same path as the function inherent in nature, we can develop a
sustainable energy future. Figure 2 shows the pathway for sustainable energy development as a flow chart.
6. The Sustainability Imperative: Energy future Development
The oil and gas development history is marked by periods of relative stability punctuated by fundamental shifts in
the competitive landscape that create inescapable threats and game-changing opportunities. Sustainability is an
emerging business megatrend, like diversifying portfolios; rethinking technology and nurturing industry /
government partnerships that will profoundly affect companies’ competitiveness and even their survival.
Sustainable energy future should be evaluated based on four value- judgment related to: Economy,
Environmental, Social and Energy Security. Figure 3 is an extension of figure 2. It suggests that the total critical
natural resources should be conserved in the whole energy development process. Based on the assumed concepts,
the following criteria are taken into consideration.
Economic Capital : Cen
Environmental Capital : Cec
Social Capital : Ce
Energy Security : Cs
Natural Capital : Cn = Cen + Cec
To enable success in the sustainability criterion, the sum of all the capitals cost should be greater than or equal to
constant for all time horizons, i.e. (Cn + Ce + Cs)t constant for any time, t. However, these conditions have
underlying assumptions that: 0, 0, 0 Figure 3 also depicts a diagnostic test
procedure of the proposed sustainable energy future development. If a new developed system passes through
these procedures, it can be certify that the proposed new development is sustainable.
7. Conclusions
The world’s energy supply is presently dependent on fossil fuels and natural gas as source of energy. These
conventional sources of energy are finite and slowly declining with time and space, and have added pressure on
environmental issues. In order to guarantee the sustainability of energy future and in extension economic
stability; a diversification of energy sources, rethinking technology and paradigm shift in business strategy will
magnify the process of energy development and ensure energy future security. A sustainable energy future
development pathway is developed and suggested to test the sustainability.
References
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