Marc Mourre

To celebrate its 15th anniversary, Energy Risk is talking with industry veterans who have been instrumental in shaping today's energy markets. This month Marc Mourre, managing director and vice-chairman of commodities at Morgan Stanley, talks with Stella Farrington about his impressions of events in the energy markets in the past 15 years

What do you think has most shaped today's market?
I think what really changed the energy market was the development of a systematic approach to risk management from corporations and the emergence of commodities as an asset class. Firstly, deregulation and globalisation meant corporates were becoming more and more exposed to risk. Secondly there was a growing awareness of the importance of commodities to economic growth, especially in a limited resource environment, and so they became an asset