Alongside the process of globalization, the growing counter-trend, namely regionalization, is arising too, which affects the mega projects of the energy industry. The world is moving towards regionalization of energy resources, thus giving up the economy of scale. At the same time, new technologies allow creating cheaper and safer small-scale alternative projects.

The forum “Globalization or regionalization? Mega projects and international cooperation” was conducted in the form of a presentation. Each of the presenters had 12 minutes to share his/her views on the main topic of the forum. Youth forum delegates had the opportunity to listen to five specialists from the industry talking about their company’s projects.

The forum featured 5 keynote speakers — Prof. Igor Sergeev, Deputy Rector for Scientific Work, St. Petersburg Mining University, Russia, Dorine Terwogt, Vice President Development for Exploration & NBD, Shell, Netherlands, Ilshat Salakhov, Deputy General Director, TANECO, Tatneft, Russia, Stanislav Matveev, Project Portfolio Management, Rosneft, Russia, Alena Finogenova, Manager Exploration, Equinor, Russia.

The forum was moderated by Cody Parrish, Senior Land Negotiator, Ember Resources, and WPC YP, Canada.

Prof. Igor Sergeev spoke about the advantages of globalization or the engagement of smaller companies. There are geographical alliances among different countries. Due to international cooperation between countries, megaprojects can cooperate and succeed. Developing and implementing of mega projects will go hand in hand with smaller facilities, similar to small and big Oil & Gas companies. There will be a transfer of business network and global flexibility.

Dorine Terwogt shared his ideas on a global approach for local competitive solutions. Energy challenge by 2050 — it will require two times more energy. The world still needs hydrocarbons. Shell has many global megaprojects where it cooperates with global partners and regional companies.

Ilshat Salakhov spoke about Seven Sisters — seven oil companies that controlled 85% of global oil reserves in 1973 and it was one of the first global cooperation between oil companies. Sanctions have a big impact on global cooperation.

Regionalization is not counter-tendency of globalization, but it imparts multidimensional, non-linear, polycentric features. Regionalization is strengthening the role of individual production systems. Regionalization and global cooperation will lead in the future.

Stanislav Matveev shared a case study of Rosneft project management and a presentation about megaprojects and investment competitiveness of Rosneft compared to other companies.

Alena Finogenova had a technical presentation. We see the same challenges in different countries on the subsurface level. Onshore decisions on megaprojects must be taken fast. She thinks that the rotation of people between projects is a key to develop people and projects.