GCE: Shale Gas and Oil Key to Meeting Growing Energy Demands

In 1850, fossil fuels – coal, oil and natural gas – accounted for only 5 percent of the world’s energy. Now they account for more than 80 percent. GCE Group participated in the discussion whether adequate fossil fuel resources will be available to support a near doubling in the size of the global economy to $130 trillion by 2030.

Together with policymakers, non-governmental and public officials, academicians, scientists, and private sector leaders, Alexander Moskalenko, President and CEO of GCE Group, discussed this and other critical issues under the theme of “Securing Tomorrow’s Energy Today.”

Hosted by the World Energy Council (WEC) and the WEC Korean Member Committee, the 22nd World Energy Congress was held in Daegu, Korea from October 13 to 17, 2013. Moskalenko led a delegation of experts to the WEC, where GCE Group, being an exhibitor, also led a round table on energy efficiency.

According to Moskalenko, “The global trends in shale gas will not have an immediate impact on the global economy as the level of energy consumption on the planet increases by 20% each year. However, one and a half billion people still do not have access to either heating or electricity sources. To meet demand, securing energy savings is growing in popularity, and shale gas and oil is a promising new field for energy efficiency consulting. As a non-renewable resource with an arguably negative environmental impact, growth in shale gas development will not undermine the renewables and all other energy sources. The key is to pursue a broad energy mix to not only support growing energy demands, but also due to its great potential for new energy efficiency technology developments. As one of the world’s leading energy consulting firms, we are on the verge of new engineering and scientific developments to ensure the most efficient and economic transformation from traditional to non-traditional energy sources.”

Johannes Penzkofer, Vice President Europe, GCE Group said, “Latest estimates indicate that in Europe, some 75 to 150 million people live in fuel poverty, which means there is a high need in energy efficiency consulting. Finding the solutions to this challenge will not only spur a more focused drive towards energy efficiency, but will also lead the world in its efforts towards energy transformation.”

A WEC survey estimates that at least 4.8 trillion barrels of shale oil is available (based on only 40 countries), which is three times as high as the 1.3 trillion barrels of oil consumed so far. Shale oil and gas is another primary natural resource that can blend with traditional energy sources, which are also limited. This energy source is full of opportunities and challenges, including in Russia where GCE Group is the leader in energy efficiency consulting. In the framework of the Russian State Program “Energy Efficiency and development of the energy industry,” GCE Group is leading the drive for innovations, strategies and guidelines not only for traditional energy, but also for shale oil and gas that is rising in its global popularity as a new economic frontier.

Press Release, October 17, 2013


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