The University of Alberta invites you to join The Honorouable Margaret McCuaig-Boyd, Minister of Energy; Jim Ellis, CEO of Alberta Energy Regulator; Dr. Andrew Leach, Economist and Professor; Pablo Puig, Managing Director Atco Mexico; Steve Dew, Provost and Vice-President (Academic); and Mexican Government Representative(s) to discuss “Canada and Mexico in World Energy Markets: Strategies for Mitigating Uncertainty”.
Recent global energy market price instability has had a significant impact on the economies of Canada and Mexico, both of which are heavily reliant on hydrocarbons for GDP growth. Prospects for price recovery are uncertain in a world of over-supply, in which climate change policy commitments will have a profound impact on the economics of hydrocarbon production. In addition, geo-political developments in the Middle East and elsewhere cast doubt over any predictions of global oil supply trends. Given these turbulent times, how can Canada and Mexico best position themselves in world energy markets to maximize the benefit of their oil and gas resources for their people?
Energy is the driving force behind economic growth, which in turn drives energy use. This is particularly true in Mexico, where energy needs are substantial and growing quickly. Fortunately, huge hydrocarbon prospects, including deepwater fields in the Gulf of Mexico, and tight oil reserves onshore, will allow Mexico to maintain its position as one of the world’s major producers and exporters. The Mexican Ministry of Energy, SENER, has embarked on a comprehensive Energy Reform agenda to attract new investment and technology across the hydrocarbons value chain, which will have tremendous impact on Mexico’s economic development and environmental goals. However, the Reform has been complicated by the period of lower international oil prices. How will Mexico adjust and adapt to achieve its objectives for the Reform over the medium to long term?
In Canada, Alberta is facing similar challenges as energy businesses seek to make critical advancements on market access, infrastructure, emissions, skills, and sustainability while adapting to persistent low hydrocarbon prices on world markets. Given huge capital commitments required for existing projects, producers continue to add supply, which serves to dampen demand, while the global trend and national commitments towards decarbonisation impose new economic implications. In this context, how can Canada move from a continental producer to a global supplier of oil and gas in the increasingly competitive international market?