How to find enough energy to fuel China's roaring economy will be one of the hottest topics discussed at the Fortune Global Forum today.
As China's demand for energy surges some say it is reshaping the landscape of the global energy market and geo-politics.
A panel discussion will bring together the most prominent figures in the energy industry in China and around the world.
Keynote speakers include Ma Kai - minister of the National Development Reform Commission and China's top economic planner; Chen Tonghai, president of Sinopec, which is Asia's largest oil refiner; Lida Cook, chief executive of the Gas & Power division of Royal/Dutch Shell; Anne Lauvergeon, chairwoman and CEO of Areva, the world's largest nuclear power company; and William McDonough, of the China-US Centre for Sustainable Development.
The officials and executives are expected to focus on a perspective of alternative energy; the balance between short-term need for energy and the long-term effects on the environment; and regional co-operation on energy.
Chen Geng, president of China National Petroleum Corp (CNPC), the nation's largest oil and gas producer, said his company will work hard to safeguard the country's stable energy supply.
CNPC makes up more than 60 per cent of the domestic crude oil production and more than 70 per cent of the nation's natural gas production.
The company will reinforce oil and gas exploration at home to find more reserves, Chen said.
"Oil and gas exploration and development is the first priority for our development," said Chen. "We will keep the crude output on a stable increase." It will also expedite overseas business in line with the principle of mutual benefits.
(China Daily May 17, 2005)
