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Global Energy Companies to Discuss Cooperation and New Growth Engines Contents
title Global Energy Companies to Discuss Cooperation and New Growth Engines
attachment date 2010-11-19 count 17809
Global Energy Companies to Discuss Cooperation and New Growth Engines
- G20 Energy Executive Meeting Held

G20 Energy Executive Meeting was held in the morning on the 12th at Presidio Rom, Sheraton Walkerhill Hotel, Seoul, joined by high-ranking officials representing governments and energy industries across the world including Repsol YPF Director of Institutional Relations and Corporate Reputation Arturo Gonzalo (Spain), Woodside CEO Don Voelte (Australia), Indian Oil Corp. Deputy General Manager in Cooperative Office Sanjeev Verma (India), Korea National Oil Corp. CEO Young-won Kang, Korea Gas Corp. CEO Kang-Soo Choo and SK Energy President & CEO Ja-Young Koo. The breakfast meeting was hosted by SK Energy for top executives from organizations which have strong ties with Korea and SK Energy.

Following the meeting, SK Energy President & CEO Koo said that it was “an opportunity to discuss mutual cooperation on a continuous basis,” confirming shared concerns between Korean energy companies and their overseas counterparts.

The topics discussed during the meeting include pending issues and the outlook for the energy market. The participants agreed that mutual cooperation and new growth engines would boost their competitiveness. They also forecast that global energy market conditions would improve next year, although the global economic outlook is still uncertain.

Mr. Koo exchanged views with the executives on ways to cooperate. He asked for Repsol’s continued support for construction of SK Energy’s forth lubricant plant, which Repsol is cooperating in infrastructure, raw materials, power, etc.

As to partnership with Woodside, a company with ample experience in large-scale LNG projects, President & CEO Koo expressed his hope for more opportunities for joint participation between the two companies.

For Indian Oil which supplies annual 60,000 tons of Naphtha to SK Energy, President & CEO Koo wished successful development of oil field in the Orinoco Belt, Venezuela, as well as showed his interest in the outlook for India’s future petrochemical market.

As the participants have had businesses with not only SK Energy but also other Korean companies and are themselves energy companies representing their own countries, the meeting further helped expand opportunities for these companies’ cooperation with the Korean energy sector in the future.

Repsol, an unrivaled leader in the petroleum development market in Latin America, jointly participates with SK Energy in the Camisea Project in Peru and a LNG project. Mr. Antonio Brufau Niubo, Repsol President and CEO, himself, is pro-Korean and had meetings with SK Group Chairman Chey Tae-Won.

Woodside, Australia's largest energy company, has been partnering with SK Energy for gas exploration in the East Cost of Korea.

Indian Oil is India’s state-owned oil company. It was big news back in 2002 that Indian Oil’s refinery plant was built by Samsung Engineering.

In the meantime, before the breakfast meeting, Mr Hyun Oh-Suk, President of Korea Development Institute (KDI), gave a lecture on “Role of Asia in New Global Environment and Implications on Korean Economy.”


하단 텍스트 참조

[Seoul G20 Energy Executive Meeting]

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