 Good evening. Thank you. Terry, at last you gave me the opportunity to speak in French. Normally, I give my speeches in English, but I think at 9 p.m., it's very good to speak one's language. Excellent to see the ministers, excellent to see the ambassadors. I'm very happy to be with you today and it's magnificent. The new in Marrakech, in order to celebrate the 10th birthday of the World Policy Conference that Terry had put in place with the support of our enterprises. The very start, we are a faithful partner and I'm very happy to speak tonight before you. In this conference, I had this opportunity to do the same in Montreux while when I was preparing this speech, I was asking myself what has changed in the world of energy and I was somehow very surprised when I was able to write something on paper because in between 2015 and 2017, many things happened in the energy world. The barrel was 65 and then it has fallen, then it has actually increased and we have the Climate Paris Agreement, December 2015 and we have the Iranian nuclear agreement in January 2016 and there is also the Vienna Agreement between Saudi Arabia, Al-Pep and Russia, which took place in November 2016 and we have also another event, which is the election of Donald Trump, the head of the White House, but two years seem to be very short, but we notice that in the world of energy, not many things change, but in my speech, I never mentioned the expression electric vehicle, but after two years, if I do not talk about this electrical vehicle, this means that I am thinking only about my petrol and my gas, but I will not be talking about the new technology, but what I can say for this two years period, well, what I can say is that the world of energy is changing very quickly and I have said that many a time in my speech, energy is an asset and a community that is very fundamental for the economic and social development of this planet, whatever we are in this planet, men, women, everybody is aspiring to have energy and have access to energy at first, while it seems to me that it is very evident to have access to energy and this eliminated venue, but we have 1.5 billion people who do not have access to energy. The second fundamental thing is that we need to have access to affordable energy and the price and the cost of energy is a fundamental factor for all the economic development and to be in developed countries or where we would, where actually we have people who are actually complaining about the increase of prices, where it in the emerging countries, which are looking for access to this energy, which is the synonymous of economic development and the price therefore is fundamental. We have also a third dimension and this is the dimension of the Paris Agreement because everybody is aspiring and having clean energy that is not to have CO2. This is the challenge with its three dimensions and this is the challenge that we are facing in our enterprise and we like the word energetic transition, which is the buzzword today, but this is really a concern because we are not undergoing a transition, but we have to remember that 300 years before people were using wood and then they moved to carbon, then to oil, then to gas, then to the solar energy and then to the wind energy. Well, I would like here to highlight that the carbon in this which is actually managing from two centuries ago, we have actually in coal actually the primary energy is coal and this is representing 30% of the consumption of energy in this planet and today which means that the time in the world of energy is a very long time, whatever the technological and real revolutions that take place, real that they may be or powerful that those revolutions may be. Well, we can look for a clean energy but the fundamental thing is that we need this energy. I would like to get back to the word that I know very well, which is the word oil and gas, but let me guarantee to you that it's not that old as it seems. In 50 years from now on we will still have oil and gas and coal actually, but there is an error and a mistake which is made by many people. That is sometimes we end up to sort of simple scores to say that we can actually replace these traditional and conventional energies by new energies. Well, oil and gas and I'm talking about this because this is representing about 50% of the energy in this planet. If we add 30% of coal, this means that the fossil energy will be up to, will be representing 80% of the energy in the planet. If I continue drawing this landscape, you know that I can always remind you that the nuclear energy represent, atomic energy representing about 5%, the hydroelectric energy representing 5% and biomass is representing about 5%. I am not talking here about the renewable biomass or organic energy, for example in African continent and in other emerging countries many women are making actually their food by using wood and also 3% of the renewable energy in the planet. These things are going to shift and change. If we go back to oil and gas and it is here, this is here the reason for my invitation, we talk about the energy, but we are actually achieving some geopolitical dimensions which enter within the framework of the debate of the World Policy Conference. Let me remind you that two years ago, oil and gas, these are two energies that are concentrated in few, very few countries that is tens of countries that do have about 80% of oil and gas reserve and these are countries, the names of which we have mentioned, these are the Middle East countries, Saudi Arabia, Qatar, Iran, Iraq and Russia also which is one of the big producers and we have the United States, these represent 75% and we can add Venezuela for oil and other countries for gas. This is to show you my geographic knowledge, but these countries that I am talking about are countries that we hear talking about and within the framework of geopolitical situation. There is also another country that we should not forget and this is China and India tomorrow because these are the biggest consuming countries and China has become today the biggest country that consumes oil and the important one and the 415% is consumed by China and this is an element that we should take into account. The oil and gas word is somehow crossed by different tendencies and waves. I have mentioned the two major agreements that are, for example, the agreement with Iran and this is the country which has the biggest reserve of gas and the forward reserve of oil and it's not really that neutral to see that Iran is actually trying to resume a sort of stance among the international community. It is a major country where total has decided to sign a contract with the first oil and gas group of Iran and they can talk also about the agreement which was entered into between Saudi Arabia and Russia in who agreed. For the first time in the history of oil and gas that Russia would accept to reduce its production in order to control the prices of this commodity you understand that these are two countries that represent 20 to 25% of the global production. They have agreed to reduce their production and to control the price and this is very important in terms of in terms of a geopolitical alliance with the recent visit of Salman to Russia. It is the first visit ever to Moscow by a king of Saudi Arabia. If we look for the reasons for this visit we can find them in this agreement that relates to oil and therefore they want to reduce the price has fallen from 64 to 40 and $40 for the barrel and I think that for this type of countries the price of oil is very fundamental as I said this price in fact this is something this is something which is very simple. Well we can now actually give many complicated reasons in order to say to say that this price is fluctuating. When the price is high this is what happened in between 2005 to 2015 and it has stayed at the price of $100 the barrel. Everybody is going to invest in oil and when everybody is investing which means that we may we supply the market and when the price is very high therefore the demand is very low. The demand is very low because the energy is very expensive and between 2005 2015 at this very period where the price was very high this led to technical inventions that are today very fundamental. Now we are talking about the solar energy and the wind energy if the we wouldn't talk about that if the price did not increase during this decade this this made the enterprises say that with this price the solar energy is more cost effective and at that time we needed that the oil would reach $100 so that it can be cost effective and now we are saying that the solar system is cost effective even if oil is at $50 the barrel. When we talk about oil and gas as conventional energy with the revolution that the U.S. is witnessing a country which has a lot of natural resources their development is related to the oil. It is because this price has increased they started to look for oil in the fossil or unconventional oil. Why? Because in the beginning in order to make this operation cost effective they needed that the price be at $100 and these enterprises and these businesses developed and now it has become or it has become actually cost effective at $50 the barrel or it can be cost effective even if the price is at $30 and this is something that shows us how we can be optimistic but this is not possible because when we look at this word with the technology that we have today we cannot actually imagine what would be the future energy but 15 years before I think that the word has changed deeply and the techniques have developed and therefore we now we want now to see how we can overcome these challenges we want to see how the energy landscape would be by 2040 maybe I can impact on through my decisions today on what would happen in in 2040 well this word of energy will be moving but how would be the 2040 energy landscape if we keep on the scenario of two degrees that as requested by the agreement of Paris well fundamentally speaking these are notions of the market and we wanted to if you want actually to project on something in the future have to think about our market and the international agents energy agency what does it say by 25 years it says something that many people forget and that is by 25 years on we will be 8 to 9 billion people on earth and this 9 billion people should consume only 10 percent more than what we consume today the first effort and tremendous effort that we have to make collectively is to do is to have some rational consumption of energy and to avoid consuming much energy and this is fundamental that is moving from 5.5 billion to 9 billion this means that if we keep on in the same scenario this consumption will increase by 40 percent therefore we have to save energy which is a source of employment and business that we do not mention in many countries and after that we will produce energy we'll have energy by 2040 we will still have oil and gas that will represent 40 to 45 percent and total well be well be there or so but if we wanted to reach the two degrees we need to consume less coal and that is by 15 percent less because it is the less costly energy in India in China also South Africa they consume coal and when we say to these countries that you have to avoid using your natural resources because of the climate change I tried that with the Indian Minister of Electricity he answered we are responsible for 2 percent of the different gas emissions why do you want us to actually slow down our economic growth and development this is an issue that is very difficult to deal with because each state should actually find a sort of energy energetic mixed and we will have by then renewable energies by 2010 40 that will be very that will be consumed and this is why total has chosen to invest in the solar energy and also to invest in renewable energy and wind energy the we have two other technology that will be fundamental if you want to achieve the two degrees of the Paris agreement first we have to store energy that is the batteries to store energy is something which is very complicated and I think we have many engineers here the electrons are not easy to store it is very complicated to do so when I was a young engineer we were actually trying to figure out how we can store energy and we were moving forward very slowly but to store energy is fundamental today when we talk about renewable energy we should know that when for example in Morocco we have the important projects of the photovoltaic energy stations but if we produce 100 megawatts we will actually reduce today the 15 to 20 percent we could store 15 to 20 percent and therefore because our network is unable to absorb the maximum sun rays and therefore there is no much efficacy if we want if we are able to have efficient storage of energy using the batteries we could store about 50 percent at that moment we would be would have achieved the sustainable energy system that would cater to the demand you if you well this is why we should not actually we should not do away with this energy because we still need gas and oil storage of energy this is something that makes me actually refer to the electrical vehicle well we have published a scenario in our group where we have actually put forward the most aggressive scenario that is by 2040 50 percent of the vehicles will be electrical vehicles this is a sort of eight million perils per day if out of 100 this is something that will be developed in the cities but its impact on the consumption of petrol but this will not lead to a de-disappearance of petrol because we need oil in order to carry out to to make planes fly and to use that as an energy in different plants and so forth and we can use oil for other purposes than mere transportation but we still be using this fossil energy also as I said we have two technologies that we have to develop if we want to keep these two degrees we have to store energy and we have another scenario that is at the end by 2040 to 250 we could continue to use the fossil energy but we need to do something with the CO2 that we are emitting a way to capture it or to store it somewhere it is another major technology that we have to work on these these are a bit technical matters that I try to simplify this is a sort of overview that is fundamental for the economic and social development of humanity we were well we won't be right when we when we spent time in the southeast countries I could see this gap between countries where populations and governments are looking for access to energy in order to develop and we are already at a period where we can make energy cleaner but let me remind you that the consumer now is complaining very much and this is a complicated issue that could actually evoke the development of behaviors but we we from the accident we cannot give a lesson to all the planet and we should assume responsibility in this regard this is what I wanted to say about these two fields I just wanted to draw first where we come from and then to show you what's all the perspectives in a word that is moving very much this is impacting on many countries well I have not when I was talking about the renewable energies I didn't talk about the three main countries this is China which is representing 50% of the world potential and we have the US which is also an important producer of renewable energy even if the president does not believe in that and in Germany Germany which has given a good present to the humanity by sitting up side 20 billion euros per year in order to develop this energy thank you very much for your attention