Monday, July 22, 2002 Volume 67, Issue 157


 
 









 
 

U.S., China meet at UH for energy forum

By Savoyia Henderson
The Daily Cougar

It was a gas.

Gathering in a dimly lit and chilly banquet hall, nearly 150 energy leaders, all with an interest in oil and gas, met Thursday and Friday at the UH
Hilton for the Fourth U.S.-China Oil and Gas Forum. The forum is a partnership involving government and companies from the United States and
China. Industry leaders from the two nations work together to develop reliable and economical success of oil and natural gas.


Brian Viney/The Daily Cougar


Participants at the U.S.-China Oil and Gas Industry Forum gather to discuss natural gas and regulation Thursday and Friday at the UH Hilton. The
forum was presented by the U.S. Department of Energy, U.S. Department of Commerce and UH Law Center.

The joint cooperative effort targets three priority areas: urban air quality, rural electrification and clean energy sources and energy efficiency. For
China, the forum was an opportunity to discuss ways to provide electricity to more than seven million people in rural areas.

Daniel Yergin, a Pulitzer Prize winner and recipient of the 1997 United States Energy Award for "lifelong achievements in energy and the promotion of
international understanding," identified the growth of the gas market, noting it was increasing by 3 percent every year and could triple by 2020.

The growth of the gas market is dependent on an energy mix the convergence of electricity and natural gas, Yergin said. "The ultimate goal for the
U.S. and China is to create an international energy company," Yergin said. It is in the two nations' best interest to meet and discuss natural gas
regulation, pricing, incentives and technology, he said.

Yergin, a recipient of a UH Honorary Degree and recognized authority on international politics, economics and energy, said availability,
cost-efficiency, environment, technology and natural gas business growth will aid in that convergence.

While the forum was a joint venture, it was hard not to forget recent problems regarding Enron's collapse and energy trading, as participants also
addressed regulation, pricing and technologies.

Andrew Derman from Thompson and Knight L.L.P. said other energy trading companies could be affected.

"There is a crisis of confidence in the market," said Andrew Derman from Thompson and Knight L.L.P. The loss of confidence in energy trading
business has to be resolved in order for the success of other companies to continue, Derman said.

ExxonMobil, McDermott, Burlington and ChevronTexaco also participated in the event presented by the Institute for Energy, Law and Enterprise at the
UH Law Center.
 
 
 

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