Richard Ward on energy demand
From EOG Talks with Richard Ward, SVP Subsea Production Systems at Baker Hughes | Egyps 2022 · · EgyptOilandGas
“Demand for energy is going to be increasing as countries are emerging and growing. Hydrocarbons today are the predominant source, renewables are growing, but hydrocarbons will be in the energy ecosystem for several decades.”
On , Richard Ward, Executive Vice President of Global Field Operations at WEATHERFORD INTL PLC, spoke about energy demand during EOG Talks with Richard Ward, SVP Subsea Production Systems at Baker Hughes | Egyps 2022 on EgyptOilandGas.
About Richard Ward
In a 2022 interview at the Egypt Oil and Gas conference, Richard Ward, then serving as Senior Vice President of Subsea Production Systems at Baker Hughes, discussed the company's operations in Egypt and the role of natural gas in the energy transition. Ward described the Zohr gas field development as a milestone for Egypt and the industry, stating that Baker Hughes provided the subsea infrastructure for the field, which he said provides 56% of Egypt's national production. He characterized Egypt as "uniquely positioned to become a real infrastructure hub for the European East Mediterranean region," citing its upstream and downstream sectors and spare infrastructure capacity. Ward stated that Baker Hughes was developing a technical hub in Egypt focused on gas, with the intention of exporting that talent and capability to global projects. He expressed the view that demand for energy will increase as countries grow)Skip and that hydrocarbons will remain in the energy ecosystem for several decades. Ward described natural gas as a "natural transition fuel to a cleaner future" and emphasized the importance of developing hydrogen projects to provide energy with minimal emissions. He also said that hosting COP27 in Egypt would reinforce the necessity of hydrocarbons in the energy mix while allowing for open discussion about cleaning hydrocarbons in partnership with renewable growth.