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The Russia-Ukraine conflict continues to reverberate through power markets, particularly through impacts on natural gas supplies and prices as well as on the energy transition, attendees of the Global Power Markets Conference by S&P Global Commodity Insights were told April 26.
"I think one of the things this conflict has made the world realize is that the process of transition is a challenging one," Carlos Pascual, head of geopolitics and international affairs at Commodity Insights, said during a keynote presentation entitled "War, Climate, and the Future."
"It takes time, and the demand for hydrocarbons is going to continue for a period of time, and if you don't have that resiliency of supply, it makes the energy transition — ironically — even harder," Pascual said.
During the subsequent session, entitled "Global Power and Energy Transition Outlook," Dan Klein, head of future energy pathways at Commodity Insights, talked about the two "black swans" since the last in-person Global Power Markets Conference, which was in 2019.
The first unexpected, high-impact event was the novel coronavirus pandemic, which remains a drag on the global economy. The second was Russia's invasion of Ukraine.
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