LAUSANNE (Reuters) – Executives from the world’s largest trading houses and mining companies are discussing market trends, cyber security and the impact of Russia’s Ukraine invasion at the FT Commodities Global Summit this week.

MARCO ALVRERA, CEO OF SNAM

He stated that blending hydrogen into fuels delivered directly to plants was a quick way to generate demand without the need for additional infrastructure.

Gas is still classified as gas if the concentration goes beyond 10%. These blends were first delivered to customers in order to see what was happening at their plants.

The ceiling should be about 20%, otherwise it is necessary to modify end-user appliances. It’s an easy way to generate immediate demand. This is in contrast to solar and wind, where you had to wait 15 year for the costs to drop.

GERARD DELSA, CIO VITOL GROUP

“We have witnessed an increase in cyber attacks in recent years. This is something we monitor. It was stable except for the attack on several oil companies in Europe at the start of February. Our people are trained and protected by us. Our greatest threat is usually us.”

It is very difficult to track back cyberattacks. These hackers are smart and jump through many hoops. It is nearly impossible to figure out its origin.

There is a tsunami data. There is a data refinery, tools and processes to help us make sense of this data. We process around 1 billion data points each day and have 180 million data files. It is important to obtain the data early before it becomes widespread knowledge.

CYRIL REOL CIO MERCURIA ENERGY TRADING

We are seeing more cyber-attacks than ever before. Any kind of event, or pattern is being looked at like someone trying remote work.

Attracting tech talent for energy trading is key.

Our industry is open to disruption. They have the chance to make an impact unlike larger organisations. They want to participate in the energy transition.