The World Economic Forum 2016 Latin America saw energy market experts discuss how to adapt the Latin American business sector to the new global realities in a session titled "Transforming the energy landscape in Latin America '.
With regards to the gas market, Francesco Starace, CEO of Enel, mentioned that the region has great energy potential that is at present grossly underutilised. Meanwhile, Renat Heuberger, CEO, South Pole Group said that given Latin America's rapid growth, energy demand could more than double by 2023 and triple by 2050. "At the moment there is a dependence on fossil fuels (70%), which only serves to aggravate the effects of climate change. Here is where opting for renewable energies such as solar comes in - a move that has become more popular on this side of the world and provided interesting opportunities as prices have come down."