Countries need to count on dependable energy supplies. Energy security is a major strategic challenge. Most oil and gas resources are located in a small number of countries, with 10 countries controlling 80% of global oil reserves and 3 possessing over half the world’s natural gas.

There are three challenges arising from the world’s growing demand for energy:

• To provide reliable energy sources in a world where there is a mismatch between where energy is produced and where it is consumed.
• To meet the demand in a way that is environmentally sustainable, and avoids damaging climate change
• To meet this demand in a way that is affordable and enables economic development.

The three key word for energy are; Security, Sustainability and Affordability.