 Thank you so much. Good morning everyone. We had some very lively discussions in the energy, climate, technology and environmental workshop. The scene was set by a framing question which is how do we basically develop trajectories, policies, investment strategies that help to bridge and to meet the different objectives at the same time which are energy security, sustainability, competitiveness, acceptability and of course last but not least affordability. We started by taking stock of where the global energy situation is as we spoke and as we meet today. We came out of one of the worst energy multi-crisis, poly-crisis actually which has left the Europeans probably the largest, the global losers. But not also to forget about how a number of emerging economies were deeply affected by the rise in energy prices, the shortage in LNG and the need often and regrettably either to reduce supplies and consumption ends, hence energy access often to the population but also the need to switch to more carbon-intensive fuels such as heavy fuel oil or coal in energy systems. Talking about Europe, clearly Europe was the most affected, the brutal decoupling from energy supplies from Russia led to soaring energy costs. The Europeans were able to rebalance towards the LNG markets thanks to siphoning off in a way available spot LNG and a lot of LNG from the US that was typically geared to the Atlantic, Bayesian, Latin America or Asia of course was directed to Europe. On the other hand there was a drop in demand and Europe which also helped to pass these difficult moments and governments intervened at very, very heavy cost to alleviate the burden of rising energy prices and burden on populations. Now that being said, I think it's also important to note that this will have structural consequences because huge depths were created and which have to be reimbursed in times of increasing interest rates or high interest rates. On the one hand and on the other hand the issue of acceptability by European population of an accelerated energy transition and the ability of population to basically sustain higher costs and lower purchasing power is now in question. We also touched up on the fact that we now have huge price differences between Europe and the other OECD competitors and this will pose structural and systemic competitiveness issues moving forward if we have energy prices that are three to four times higher than what we see in the US for example. We moved on also to discuss the global energy picture and especially a few weeks ahead of COP and what is striking there is that you're all familiar with that but global energy demand is rising sharply and that is not only related to the growth in renewables or electricity. It is still also relying on the fossil fuels. We have now global oil demand that has topped 100 millions per day and that will by year end mean an increase of 2 million barrels per day versus last year so this is a sharp increase and if you consider that you have a natural depletion rate of oil fields in the world of four percent it means that you have to add six million barrels per day of new production in a world where in principle if we listen to science we are to phase out fossil fuels and of course reduce demand accordingly and go down to 1.5 degrees. Now that being said there is an interesting development which is that total energies outlooks in the shared the approach and the view of the IEA which both and both see that oil demand is expected to peak around 2030 and then progressively decrease and if we are in a 1.5 degree scenario there will still be oil most likely we're not going to hit that so at the end of the in the middle century we would still have some something between 40 and 60 millions barrels per day of oil demand which will require of course sustained investment. So then we moved on to discuss coal. Coal clearly on the rise over the past two years because of the energy shocks but there is a fundamental good news still which is that we saw an influx of natural gas in the number of emerging economies but also in of course in the OECD and natural gas has helped to reduce the shelf coal power generation and has helped hence to reduce greenhouse gas emission increase from the energy sector. So there were clear figures on that and most probably when the gas prices decelerate in the coming years we will have again a positive trend in this direction. An interesting fact also for all of you to note is that the energy shocks have accelerated the globalization of natural gas markets. We now have a growing share of LNG trade rather than pipeline trade and that is of course related to to Russia's pipeline exports to Europe largely diminishing. I think it's also interesting to remark that we are all witnessing the the rise of renewables and the IEA has put some remarkable numbers out of how much solar PV is actually aligned with 1.5 degrees. This is an incredible boom which is expected to continue nonetheless the share of renewables and total primary energy supply remains largely insufficient if we are to be on track for 1.5 degrees and the global energy system is still dominated by fossil fuels. We discussed also what this means for a global energy major like total energies and we heard that basically already now one third of the CAPEX is devoted not to fossil fuels but to what they call integrated power and all the low carbon molecules and electrons and two-thirds are still on hydrocarbons but a clear focus towards natural gas and what was remarkable is that obviously there are very very strong efforts that are paid within that company to reduce fugitive methane emissions to stop flaring and basically to improve the carbon footprint of oil and gas production notably for electrification of processes and an improvement of all this and of course what will matter and especially at COP is that it is not just the one or two or three companies that are best in the class in this aspect but that this spreads out to the entire industry and notably in national oil companies and oil producing countries in the OPEC region. We also discussed the role of course of electricity which is one of the largest source of increase in total primary energy supply and if we look at electricity of course renewables are front runners but the the the key issue now is to provide flexibility and to develop flexibility tools for electricity systems and of course also to invest into grids and that comes at a cost that comes there is no magic solutions for that but it will play an increasing role as we move forward. We also then moved on to discuss some specific regions and Russia and the former Soviet Union countries of Central Asia and obviously we heard that they are also interested and into you know becoming more sustainable and putting in place regulation and policies that can lead them to that and I think that was very encouraging even in Russia you still have companies and stakeholders and support to to push for the carbonization and to improve companies records in this field and and an overall that will probably be one of the aspects post war that on which relations could somehow be reinstated. Finally I'd like to mention one major issue in the discussion which is related to the global energy governance and the kind of recognition that the climate and energy transition discussion is too much northern hemisphere centered it's too much European has a too strong European footprint and actually leaves a large emerging economies like India for example largely out of the table and them and with completely different interests not to say that India is not concerned about climate change etc but the point is that there is a view in in some of these emerging economies that the Europeans have a kind of climate extremist approach to issues and that they do not recognize what are the challenges that these countries face notably energy access the need to respond to soaring energy demand and the fact that there are often no alternatives immediately available to develop energy systems than also fossil fuels not to mention of course concerns over energy security which are overwhelming in many countries in the notably in Southeast Asia but also in South Africa and unfortunately we didn't have time to really get deep into the discussion on how to bridge these tensions but nonetheless I think there was a strong insistence paid on that and overall there is a clear there is a clear sign that we need to work more towards a talking and engaging with the Europeans, India, South African countries over these issues and fundamentally to address the fundamental aspect of a just energy transition or of just energy transitions because there is not one pathway one model especially one that would be designed and mulled by the Europeans but that there is there will be different pathways and then and last but not least I think related to that the issue which was also touched up in the in the previous in the former panel which is how do we provide liquidity and financial resources to the many of the emerging economies which are basically deprived of access to capital markets and which cannot roll out those low carbon technology simply because the borrowing costs are too high so I think we had a good conversation around these aspects and definitely a lot of things to develop and discuss further next year when we reconvene I thank you for your attention