Petrobras CEO, José Sergio Gabrielli de Azevedo, spoke on Tuesday about the global energy scene during the 2011 Conference of the ARPEL – Regional Association of Oil, Gas, and Biofuels Sector Companies in Latin America and the Caribbean -, held in Punta del Este, Uruguay.
During his address, Gabrielli highlighted the impact oil prices have had on the gas market: “ The high price is good for the gas market, and not only for it, because if these figures remain as they are, alternatives become more viable. As a result, I expect major changes and incentives for gas projects throughout Latin America ,” he said.
Another issue Gabrielli emphasized was the decline in consumption in the U.S., Europe and, Japan, and the increase in demand in China and India as key factors for the change in the world production and consumption patterns. “ This new demand is already causing changes in the geopolitics of the countries, and it will affect and enhance the logistics issue in various regions ,” he said.
During the opening ceremony, Milton Costa Filho , the general manager for Petrobras Mexico and Arpel chair, stressed that the meeting is an opportunity for Latin America and the Caribbean to discuss topics such as the effects the crisis will have on Africa and the Middle East in terms of investment flows: “ Today, companies are seeking safety and political stability, over and beyond more productive environments, and that includes the Oil, Gas and biofuels market .”
Gabrielli also underpinned Latin America’s attractiveness for the energy market: “ Hydrocarbons are the region’s main advantage, since most companies are seeking new reserves. With the regulatory and infrastructure conditions, and through negotiations with companies, in all, we are well poised to attract more investments ,” he completed.
José Carlos Villar Amigo , Petrobras’ International Area’s executive manager for Latin America, also attended the conference. Amigo highlighted the importance of new discoveries in the region. “ There will be a 63% growth in demand for oil and gas in Latin America in coming decades. It is a very big challenge because we have to find new reserves in these countries ,” he said.
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Source: Petrobras, March 30, 2011;