Producers Look for Greater Voice at COP27

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Egypt has a tricky path to navigate as the host of the upcoming COP27 climate conference where it will look to balance its place as a producing nation in the Global South with calls for aggressive climate action. Producers will be hoping Cairo proves more sympathetic after their experience in Glasgow at the last COP26 conference where Shell’s Ben Van Beurden lamented the oil and gas industries “were told we were not welcome.” Big Oil may be more visible this time round but may not necessarily translate into friendly policy direction. Egypt itself will be under pressure to provide further climate action, fully aware of its vulnerabilities to the impacts of climate change. Egypt’s COP27 presidency outlined four pillars of the conference; mitigation, adaptation, finance and collaboration. Within that framework, hydrocarbon-rich developing nations will look to reassert their right to pump their oil and gas and perhaps to loosen restrictions on western lending to help do it. In June, the African Union underlined the continent’s “differentiated path towards the goal of universal access to energy, ensuring energy security for our continent” that acknowledges global climate goals. Natural gas, green and low carbon hydrogen and nuclear energy, the union argued, will be expected to play a crucial role in expanding access in the short term.

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