IES 2022 Boulos Lecture Series: Finding a Way Out of Energy Chaos to a Smooth Transition
Recorded On: 09/28/2022
Originally presented at the AIEN 2022 International Energy Summit in London
Simon Flowers, Chairman & Chief Analyst, Wood Mackenzie
Each year, AIEN hosts an annual lecture series in honor of Alfred J. Boulos, former AIEN president and highly regarded international energy negotiator. Al was active in the international petroleum industry for more than 50 years, serving as AIEN’s sixth president, as well as founding the London-based European Petroleum Negotiators Group (EPNG).
The energy sector is in short-term crisis management and long-term transition. The global economy is still dependent on oil and gas - and coal - but investment in supply has fallen to a low ebb. The energy trilemma – sustainability, affordability, and security – is suddenly playing out now rather than over the decades of the transition.
Regulations, fiscal and other policies for the transition are in flux: setting net zero ambitions is easy, delivery is hard. Host government-investor and investor-investor relationships are rapidly evolving, as all transform their energy aspirations and obligations. The AIEN has a critical role in assisting all stakeholders to structure these new relationships in legal agreements and ensuring as smooth a transition as possible.
Chairman & Chief Analyst, Wood Mackenzie
Simon Flowers was appointed Chairman, Energy for Wood Mackenzie inApril 2016. He has led the commodities, global trends and corporate analysisresearch over the last few years and has been Chief Analyst since July 2015. Hewrites ‘The Edge’, Wood Mackenzie’s weekly thought-leadership insight on oiland gas. Simon re-joined Wood Mackenzie in 2010, and has over 20 years ofexperience in the oil, gas, utilities and mining sectors, working with theboards of many energy companies on strategic issues. His views on majorindustry issues are regularly sought by the media in Europe, the US and Asia.
Simon was MD and Head of Pan European Utilities Research with BAML from1998, covering the major European utilities. The team was Top 3 ranked in thesector for over a decade and Simon was involved in most of the major Europeanprivatisations in the sector during this period, including Enel, EdF and GdF.
Simon was a No.1 ranked oil analyst with NatWest Markets 1992-98. Priorto joining NatWest, he had worked for Ord MinnettSecurities in Sydney as an energy and mining analyst in the Australian market.
Simon graduated in geology from the University of Edinburgh, and workedfor two years as a geologist in the oil industry working in the Netherlands andoffshore Egypt. Simon originally joined Wood Mackenzie in 1983 as an analyst inthe North Sea and NW Europe Services.