Today natural gas is sold at vastly different prices in the US, Europe and the Far East. And in the US, one can buy a calorie from gas at a fraction of the cost of a calorie from oil. 

Whether, when and how this market rebalances will depend on geopolitics, industrial decisions and technological breakthroughs. Paolo Scaroni, CEO of European oil and gas major eni, explains his view – and the unique challenges and opportunities this situation generates for governments, energy companies and consumers worldwide.

About the speaker:
Paolo Scaroni has been Chief Executive Officer of eni since June 2005. 

After graduating in economics at the Università Luigi Bocconi, Milan in 1969, he worked for three years at Chevron, before obtaining an MBA from Columbia University, New York, and continuing his career at McKinsey. In 1973 he joined Saint Gobain, where he held a series of managerial positions in Italy and abroad, until his appointment as head of the Glass Division in Paris in 1984. From 1985 to 1996 he was Deputy Chairman and Chief Executive Officer of Techint. In 1996 he moved to the UK and was Chief Executive Officer of Pilkington until May 2002. From May 2002 to May 2005 he was Chief Executive Officer and Chief Operating Officer of Enel. From 2005 to July 2006 he was Chairman of Alliance Unichem. 

He is currently Non-Executive Director of Assicurazioni Generali, Non-Executive Deputy Chairman of London Stock Exchange Group, Non-Executive Director of Veolia Environnement. He is also on the Board of Overseers of Columbia Business School and the Fondazione Teatro alla Scala. 

In May 2004 he was appointed Cavaliere del Lavoro of the Italian Republic. In November 2007 he was decorated as an Officier of the Légion d'honneur.