During a visit to Brazil by its global CEO and vice presidents, Karoon Energy hired Catavento to participate in a discussion with its full senior leadership team about global trends in energy transition and the Brazilian scenario. Clarissa Lins, founding partner at Catavento, counting on the support of the partners Bruna Mascotte and Tamara Fain, was invited to share her perceptions about the impacts of the conflict in Ukraine on the pace and direction of the global energy transition.

Notably, Clarissa reinforced that the crisis has placed energy security at the center of the debate, as countries will not renounce the well-being provided by energy sources in the midst of the transition. On the other hand, she stated that the direction of the transition should not be changed, and that it could even be accelerated by promoting a reduction in the countries dependence on imported fossil fuels, in view of the development of local renewable sources.

Clarissa also addressed the pressures from investors, regulators and the scenario in different regions, such as the USA and Europe. Additionally, the expectations for the performance of O&G companies in this context, notably independent E&P companies, such as Karoon Energy were also highlighted. She also listed the role of technological innovations in the transition to a low carbon economy, such as CCUS and hydrogen, as well as nature-based solutions.

Finally, when analyzing the Brazilian context, Clarissa illustrated the country’s comparative advantages in the energy transition. These would be related to the high share of renewables in the energy and power mixes, due to the relevant competitiveness in various energy sources and the opportunities they have to grow in the country. Those should include the O&G sector, if developed in a responsible way and seeking to minimize their greenhouse gas emissions (GHG).