On the afternoon of October 18, the 14th Asia-Pacific Shale Oil and Gas and Unconventional Energy Conference (referred to as ECF Forum) wrapped up its three-day agenda in Shanghai. The forum focused on the development of energy integration, facilitating discussions among participants on topics such as balancing traditional and renewable energy development, promoting international cooperation in the energy sector, and exploring the future of unconventional energy.

Initiated in 2011, the ECF Forum is operated by the Shanghai United Center for Unconventional Energy Research. It has emerged as the largest international platform for unconventional energy cooperation and exchange in the Asia-Pacific region, concentrating on shale gas and other unconventional oil and gas resources. The forum fosters academic交流, research, and cooperation from various perspectives, including technology, market dynamics, infrastructure, practical applications, strategic planning, and policy development.

Wang Ronghua, former president of the Shanghai Academy of Social Sciences, noted that the global energy landscape is undergoing profound changes. He emphasized that the transition toward cleaner and smarter energy solutions is an unstoppable trend. China is currently undergoing a crucial transformation in its energy development, moving from a coal-dominated structure towards a more diversified, cleaner, and smarter energy system.

Wang highlighted that recent years have seen remarkable advancements in China’s renewable energy sector, with wind and solar power installations ranking among the highest in the world and the proportion of new energy sources steadily increasing. Additionally, he pointed out that technological innovation and digital transformation are driving change within the traditional oil and gas industry, enhancing energy efficiency.

Unconventional energy, also referred to as new energy, encompasses various forms of energy beyond the traditional spectrum. As a form of unconventional energy, oil and gas resources serve as a vital supplement to traditional energy sources. Tian Lei, deputy director of the Economic Center at the Energy Research Institute of the National Development and Reform Commission, remarked that significant breakthroughs are being achieved in key low-carbon energy technologies. For instance, the rapid decline in solar photovoltaic costs could foreseeably drop by 50% or even more than 90% in the next decade, establishing a solid foundation for further integration between traditional and new energy sources.

“The oil and petrochemical industries, as critical pillars of China’s economy, need to enhance their transformation,” Tian stated. He added that promoting green development from a full industry chain perspective is essential, which includes creating green oil fields, green refining industries, green energy storage systems, and green recycling systems.

Gianni Di Giovanni, Global Executive Vice President of Eni Group, addressed the forum via video, sharing insights on how the Italian multinational oil and gas company has optimized its traditional energy business structure to improve efficiency and effectiveness. He also highlighted their active exploration of new business models and technological pathways, such as natural gas exploration and biomass electrostatic applications, to navigate increasingly tough market challenges.

Di Giovanni emphasized China’s vital role in global energy production and consumption, stating that the country plays a crucial role in energy transition and sustainable development. He committed to increasing investments in the Chinese market, particularly in renewable energy, asserting, “We firmly believe that the Chinese market is irreplaceable for Eni’s global strategic objectives.”

“As we look ahead, we must continue to invest in clean energy and unconventional energy sources, driving the development of emerging technologies such as hydrogen and energy storage, to diversify energy supply and enhance the resilience and sustainability of energy systems. At the same time, we need to strengthen international cooperation and actively participate in global energy governance, contributing China’s wisdom and strength to building a fair, just, and shared global energy future,” Wang concluded.