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The Energy Sector Outlook

Press Release: February 02, 2010

Interview with: Richard Newell, Administrator, U.S. Energy Information Administration, Department of Energy (DOE)

Miami, FL, February 1, 2010 - FOR IMMEDIATE RELEASE

It is almost certain that global warming and greenhouse gas emission concerns will eventually lead to new policies with the energy sector at the heart of the problem as well as the solution. Richard Newell, Administrator of the U.S. Energy Information Administration with the Department of Energy, a speaker at the marcus evans Energy CFO Summit 2010 taking place in Miami, Florida, February 2123, highlights the key challenges facing energy sector financial executives and his outlook for the coming years.

What are some of the challenges facing energy CFOs at the moment?

Richard Newell: Currently, there is a lot of attention being paid to three major issues, surrounding the domestic and global energy system. First is how to meet growing energy needs in an affordable way. Second is, addressing the risks associated with global climate change. And third is the public concern over energy security as it relates to oil consumption.

Coming out of the economic downturn, the expectations for the rate of economic growth and its implication for particular energy sources, sectors and energy prices, is the most important near-term issue. The question is how one can plan for future investments and energy related decisions, when the prices of oil, natural gas and associated products have the potential to be within a fairly substantial range? How do you plan a robust investment strategy that is potentially successful in a wide range of scenarios?

How does the global climate change debate issue affect Energy CFOs?

Richard Newell: The International Energy Agency, composed of OECD nations, projects that about 22 trillion dollars of investment in energy supply infrastructure will be needed through 2030. That is almost 900 billion dollars annually. From the energy CFO point of view, that is a significant amount of investment that will be required in the sector, both with and without any additional greenhouse gas legislation. Exactly where that money will need to go in the climate context is going to depend on the stringency of reduction targets under domestic legislation and international treaties. If there is a desire for very significant gas reductions, that is going to imply a need to invest more in relatively clean, energy efficient technologies, such as renewable energy, nuclear power, carbon capture and storage, bio-fuels and so on.

How can energy CFOs take advantage of current market conditions? What are some of the opportunities out there today?

Richard Newell: That depends on a number of different things current market trends in various energy markets in the absence of additional government policy, and the prospects of new legislation, currently pending in Congress. Opportunities will depend upon the direction taken by potential regulation and legislation, mostly related to the issue of greenhouse gas reduction. There are also policy activities related to energy efficiency, renewable energy expansion, the prospects of nuclear power and natural gas.

What are some of the trends related to this industry that you see playing out in the near future?

Richard Newell: We see relatively slow growth in overall energy demand in developed countries, such as the United States, Europe and Japan. Most of the global energy demand growth will come from developing countries growing at a fast pace, including China and India. Another trend we see is that under current laws and policies, there will be significant growth in greenhouse gas emissions, due to a continued reliance on fossil fuels; over 80 per cent of both U.S. and global energy use comes from fossil fuels. We do not see that changing significantly, unless new policies are put into place. We foresee relatively rapid growth in renewable energy supplies, but coming from a relatively small base. Unless there are significant policy changes, fossil fuels will continue to dominate the energy mix.

Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division

Tel: + 357 22 849 313
Email: press@marcusevanscy.com

 About the Energy CFO Summit 2010

This unique forum will take place at the Doral Golf Resort & Spa, Miami, Florida, February 21-23, 2010. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The summit includes presentations on adapting your financial strategy to new energy regulation, accessing credit markets to fund growth projects, the impact of renewables on the balance sheet and taking advantage of current market conditions.

For more information please send an email to info@marcusevanscy.com or visit the event website at http://www.energycfosummit.com/RichardNewellInterview

Please note that the summit is a closed business event and the number of participants strictly limited.

About marcus evans Summits

marcus evans Summits are high level business forums for the worlds leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit http://www.marcusevans.com

All rights reserved. The above content may be republished or reproduced kindly inform us by sending an email to press@marcusevanscy.com

Notes to editors

For more information, please contact:

Sarin Kouyoumdjian-GurunlianSarin Kouyoumdjian-Gurunlian

Tel: + 357 22 849 313+ 357 22 849 313

Email: press@marcusevanscy.compress@marcusevanscy.com

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