Inside Energy June 2024

Sector analysis

The rise of SMRs in Europe

Since 2021, multiple markets in Europe have embraced the potential for nuclear deployment as a means of supporting the transition to net zero emissions. However, current decarbonisation targets will require large capacity scale-ups at speed. This is at odds with the lengthy lead times and high CAPEX associated with nuclear power plants. Enter small modular reactors (SMRs). SMRs sit at the forefront of emerging nuclear technologies. They are characterised by smaller output capacities (maximum ~300MWe), compared with GW-sized conventional nuclear reactors. The key benefits of SMRs are a result of their smaller size: lower CAPEX, quicker lead times and, suitability for deployment in a greater number of locations, relative to conventional reactors.

Discussions around SMRs’ potential came at the beginning of the decade. The EU recognised the potential contribution of the reactors in achieving the climate objectives of the 2020 EU Green Deal. In February 2024, the EU published its ‘Recommendation for 2040 target to reach climate neutrality by 2050.’ This highlighted the role SMRs could play in supporting the energy transition and announced plans to launch the European Industrial Alliance on SMRs, which aims to facilitate the deployment of SMRs in Europe by the early 2030s. Since 2021, a number of European countries began to inscribe SMR ambitions into their national nuclear targets. Sweden, notably, aims to deploy ten new reactors, a portion of which is expected to be SMRs, by 2045. Similarly, under its Draft Climate Fund 2024, the Netherlands has allocated €65m for the development of SMRs. According to EICDataStream, the EIC’s leading project tracking database, Europe anticipates seeing seventeen SMR projects coming online between 2029-2040, equivalent to >10GWe of added nuclear capacity.

While research into reactor technologies continues, a number of OEM suppliers are making headway within the sector. British Rolls-Royce, NuScale and EDF’s Nuward currently offer some of the more advanced reactors, with initial deployment of their technologies anticipated from 2029 onwards. Rolls-Royce’s UK SMR hub is currently the largest project in Europe’s pipeline, with an expected capacity of ~7GWe (16 x 470MWe reactors).

X-Energy and Cavendish Nuclear are equally expected to contribute significantly to the UK’s portfolio, following the award of £3.34m from the UK Government’s Future Nuclear Enabling Fund (FNEF). The funding will enable the deployment of 40 X-Energy Xe-100’s across the UK. Moreover, NuScale has the most diverse market portfolio, having an established presence across seven European markets, both mature and emerging.

Additionally, the company’s VOYGR reactor, is currently the only SMR reactor licensed by the US’s Nuclear Regulatory Commission (NRC). Maturity of NuScale’s technology is evidenced through the Doicesti SMR project (462MWe), underway in Romania. The plant is the sole project in Europe to have successfully reached the detailed engineering stages of development and is targeted for deployment as early as 2029. Finally, EDF’s NuWard technology is set for initial deployment in France, however the company is already exploring potential for scaling up its presence elsewhere on the continent, namely in Poland.

The aforementioned advantages of SMR technologies have also allowed new countries to begin exploring nuclear energy for their domestic needs. In the CEE region, Poland and Czech Republic are seeking to expedite the scale up of nuclear by 2050. These countries are not only facing the challenge of energy transition, but the questions of energy security are also prominent due to the proximity to Russia and its ability to use energy geopolitically. As such, SMRs are looking more favourable for these countries due to their size and ability to be deployed in areas not suitable for large power plants. Demonstratively, Poland has set its nuclear target to 6-9GWe by 2043 and has since announced nine nuclear projects, of which six will be SMRs – the largest volume of announcements in Europe to date. Similarly, Czech Republic announced that three out of the five proposed nuclear projects will be SMRs.

Elsewhere in Europe, research into potential SMR deployment is also ongoing in countries which previously held nuclearsceptic attitudes. Norway for example, previously deemed the upkeep of its research reactors too costly, resulting in the shutdown of its last operating research reactor in 2019. Since 2022, Norsk Kjernekraft has entered partnerships with multiple municipalities in the country, including Aure and Haim, to assess the feasibility of SMRs for district heating. Similarly, in the Baltic region, Estonia’s government tasked the Nuclear Energy Working Group (NEPIO) with investigating the potential for nuclear development. The group concluded that SMRs would be the most viable technology for producing nuclear energy in the country.

SMRs offer the fundamental benefits of nuclear in relation to their fuel efficiency and reliability of energy production. However, they are void of the issues associated with the size of conventional nuclear power plants, namely CAPEX, lead times, geographical limitations and potential security risks associated with geopolitical conflicts. As such, the technology is well placed and advancing to support the energy transition movement across Europe.

Zuzanna Jurek, Energy Consultant zuzanna.jurek@the-eic.com

Inside this issue...

The EIC’s annual flagship event, Energy Exports Conference (EEC), is just around the corner. Taking place on 11-12 June at P&J Live in Aberdeen and gathering the world’s key energy project decision-makers, including 20 international delegations, EEC is designed to make it easier for the supply chain to learn about global business opportunities across all sectors.

The conference also enables over 1,000 supply chain companies to attend and showcase their technologies, innovations and capabilities. This year, we are welcoming 100 speakers, so we hope to see you there.

Go to www.the-eic.com/EEC to register for free.

In this month’s issue of Inside Energy, readers can find pieces on the growing small modular reactors sector in Europe, Alleima’s new super-duplex tube, Siemens’ repairs partnership with MMX and much more.

For the sector analysis section, we have invited Zuzanna Jurek, energy consultant at the EIC. Here, Zuzanna discusses the rise of small modular reactors (SMRs) in the European continent and how this emerging nuclear technology can catapult the region’s transition to net zero emissions. According to her, the smaller size of these projects, which results in lower CAPEX, quicker lead times and greater diffusion, are the key benefits of SMRs.

In member’s news, Alleima, a global manufacturer of high value-added products in advanced stainless steels and special alloys, discloses its new advanced superduplex tube. Specifically tailored for acids, the SAF 3006 enhances corrosion resistance in acidic and caustic environments.

Spotlight on technology features a new partnership formed by Siemens and MMX (part of the TXO Group) for repairs in telecoms, utilities and energy businesses across the UK and Ireland. This initiative will allow customers to access a UK-based specialist centre for repairs on MMX’s Ruggedcom network routing and switching gear for the first time.

Once again, the EIC teams in Europe, the MENA region, Asia Pacific and the Americas, complete the publication with regional comments for office notices and local market updates. News from members are also included, and readers will be able to keep up with the latest international industry news.

Léliam de Castro Head of Marketing and Communications leliam.castro@the-eic.com

DataStream

CANADA

Edmonton Cement Plant CCUS Project

Operator: Heidelberg Cement Value: US$1.04bn

A joint venture comprising of Mitsubishi Heavy Industries (MHI) and Kiewit Energy has been awarded the contract to conduct a FEED study for the project. The project will utilise MHI’s proprietary Advanced KM CDR Process™ technology.

For more information on these and the 14,000 other current and future projects we are tracking please visit EICDataStream

MALAYSIA Bintulu Green Hydrogen Plant

Operator: Sumitomo Corporation Value: US$500m

Development of a green hydrogen facility powered by hydropower, in Bintulu, Sarawak, Malaysia. The facility will have a hydrogen production capacity of 90,000 tpa to produce cyclomethylhexane. JGC Holdings Corporation was awarded the FEED contract for the project in April.

Global opportunities

GUYANA

Whiptail Oil Field

Operator: ExxonMobil Value: US$12.7bn

The final investment decision on the project was reached in April. Several contracts have now been confirmed. SBM Offshore has the EPC for the FPSO, Saipem will undertake SURF work and TechnipFMC will provide subsea trees and manifolds.

IRELAND Offshore Wind Farm Codling Bank

Operator: Codling Wind Park Ltd Value: US$3.18bn

COWI has secured a contract to deliver FEED and detailed design of the wind turbine foundations and associated components and offshore substation foundations. The wind farm has seen a reduction in the number of maximum turbines from 100 to 75.

SAUDI ARABIA

Al Fadhili Gas Plant –Expansion

Operator: Saudi Aramco Value: US$7.7bn

Two EPC contracts were awarded in April. GS E&C has the contract for the sulphur recovery unit, while Nesma and Partners has the EPC for early civil works. Samsung Engineering picked up the EPCs for the three gas processing trains and utilities package.

SOUTH AFRICA Mooi Plaats Solar Farm

Operator: EDF Renewables Value: US$300m

Trina Solar has partnered with China Energy International Group and China Gezhouba Group to install the solar farm. Trina Solar will equip the project with 416,325 modules from its NEG21C.20 Vertex N series. Construction is expected to last 22 months.

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Member’s news

Alleima

introduces

new advanced super-duplex tube tailored for acids – SAF™ 3006

SAF™ 3006 is a high-alloy duplex stainless steel tailored to enhance corrosion resistance in acidic and caustic environments. The new alloy, an upgrade to traditional super-duplex stainless steels, adds to the company’s growing duplex portfolio. The main application is heat exchangers in the chemical and petrochemicals industries.

Alleima pioneered the ‘duplex revolution’ of the 1960s and 1970s, introducing a cost-efficient stainless-steel alternative to more expensive nickel alloy grades.

The company continues to innovate in this area. Duplex grades, with a 50-50 austenitic-ferritic structure, offer more than twice the strength of standard stainless steels and superior corrosion resistance.

The groundbreaking SAF™ 2507 (UNS S32750), introduced by Alleima almost four decades ago in 1985, set the industry standard for combating wet corrosion in a diverse range of industrial applications.

Renowned for its exceptional performance in corrosive conditions, SAF™ 2507 offers excellent resistance to stress corrosion cracking (SCC) in chloride-bearing environments, as well as to pitting and crevice corrosion.

SAF™ 3006 will be produced in Alleima’s fully integrated value chain, from R&D to end product, with tight quality control and a strong focus on sustainable production.

The tube is based on more than 80% recycled steel and melted and produced using a high degree of fossil-free energy sources. Seamless tube and pipe in SAF™ 3006 will be supplied in standard heat exchanger dimensions.

Alleima is a global manufacturer of high value-added products in advanced stainless steels and special alloys. Since the 1960s, the company has been at the forefront of developing modern duplex grades and now offers a broad portfolio.

We’re thrilled to welcome this new super duplex to our expanding duplex family. It provides that missing duplex tool for customers battling acids in heat exchangers, giving them that extra edge.

Eduardo Perea, Market & Product Manager EMEA, Alleima

SAF™ 3006 is an upgrade over existing duplex grades facing higher-than-desired corrosion rates and where extended equipment lifetime is wanted. You get all the benefits of traditional duplex steel in terms of strength and cost-efficiency, but tailored to resist acids.

Oscar Öhlin, R&D Engineer, Alleima

Spotlight on technology

Siemens Digital Industries

Siemens has launched a new repairs partnership with service provider MMX (part of the TXO Group) to support major telecoms, utilities and energy businesses across the UK and Ireland.

The deal will enable customers to use a UK-based specialist centre for repairs on the technology company’s Ruggedcom network routing and switching gear for the first time, which will enable product issues to be resolved more quickly and effectively.

Partners say the new centre, which has the skills to repair to component or board level, will turn around repairs in days instead of weeks for new products to be built or sent for repair to Canada. This will help businesses across critical sectors to significantly reduce their product and network downtime, while generating cost and carbon savings from the reduced need to ship products overseas.

The move follows an increasing focus on reliability and durability from telecoms, utilities and energy providers, with demand growing across industry for this type of infrastructure technology to last for more than 15 years.

The new relationship will also reduce waste and minimise environmental impact across the supply chain for the business’s Ruggedcom products, which provide secure communications for critical infrastructure in harsh environments.

The importance of predictive and efficient maintenance will be a key topic at Transform 2024 where more than 4,000 industry leaders, tech experts and policymakers will convene at Manchester Central to explore the future of digital and sustainable transformation. Hosted by Siemens, the free-to-attend two-day conference and exhibition will take place on 17-18 July 2024.

New EIC members

NEW GLOBAL MEMBER

Crane Worldwide Logistics

1500 Rankin Road Houston TX 77073 US

Contact

Ingo Schmidt, Sr. Director Global Projects

Telephone +1 281 443 2777

Email ingo.schmidt@craneww.com

Web

www.craneww.com

Crane Worldwide Logistics is a global logistics provider with offices in over 30 countries, privately and US American owned with its global HQ in Houston, Texas.

NEW PRIMARY MEMBER

Levidian Nanosystems Limited

Levidian Technology Centre 17 Mercers Row Cambridge CB5 8HY UK

Contact

Rowan Neslen, Marketing Director

Telephone +44 (0)1223 359 316

Email rowan.neslen@levidian.com

Web

www.levidian.com

Levidian is a British climate tech business that is on a mission to decarbonise the world’s hardest to abate sectors.

Underpinned by its patented LOOP technology, the company offers a unique decarbonisation service that captures the carbon from methane gas and creates a new source of clean hydrogen and net zero graphene – a high performance material that can be used to significantly enhance the intrinsic characteristics of products in major global industries as far ranging as steel, batteries and petrochemicals. The solution can be deployed anywhere with a methane source and is designed to function as a selfcontained modular system that can quickly and easily be retrofitted to existing infrastructure.

NEW PRIMARY MEMBER Peterson Energy Logistics

Nautilus House Waterloo Quay Aberdeen AB11 5BS UK

Contact

Suzanne Mackie, Communications Manager

Telephone +44 (0)1224 288 100

Email smackie@onepeterson.com

Web www.onepeterson.com/ service/energy-logistics/

Peterson Energy Logistics is a worldleading, innovative and highly-trusted international energy logistics and supply chain solutions company, driven by a passion to lead the way in transforming how industry plans, manages and executes the movement of critical resources globally.

Peterson takes a creative approach, working in partnership to achieve fair gain, developing a world in which Peterson’s wide range of knowledge and experience combines with future technologies and ground-breaking thinking to revolutionise entire logistics and supply chain functions.

Peterson’s ultimate objective is to unburden stakeholders by applying business intelligence to enable greater efficiency, consistent accuracy and increased sustainability.

NEW RENEWABLES MEMBER

Santander UK plc

Santander House 2 Triton Square

Regent’s Place London NW1 3AN UK

Contact

Halil Bedevi, UK Head of Advanced Manufacturing Sectors

Telephone +44 (0)7540 336 411

Email halil.bedevi@santander.co.uk

Web www.santandercb.co.uk

Santander is committed to supporting UK manufacturing with a key focus on renewables and sustainability.

Santander is a top bank in the UK and Europe, with presence worldwide. Santander UK Corporate & Commercial offers a wide range of banking and finance services. Its non-banking offer, which helps businesses grow and prosper in the UK and overseas, sets it apart.

Santander has wide experience in, and knowledge of, international markets and specific sectors. So, it knows the needs of companies in the UK and as they trade around the world.

Santander’s sector specialists work with companies to provide tailored solutions, beyond finance, to help business thrive. Its country specialists identify new openings and provide vital links for entering and working in foreign markets.

These specialists work with Santander’s relationship teams to provide a complete end-to-end service. It aims to meet your sector needs, and your domestic and international growth ambitions.

Access this wealth of experience with the international trade platform: Santander Navigator. This connects you to a network of providers, events, market insights and more.

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Member news

Amarinth and EthosEnergy form strategic alliance for oil and gas pump solutions in the UAE

Amarinth, a world-leading, net zero designer and manufacturer of low lifecycle cost centrifugal pumps and associated equipment, primarily for the offshore and onshore oil and gas industries; nuclear and renewable energy generation; defence; desalination; process and industrial markets, has announced a strengthened partnership with EthosEnergy to deliver regional product and after sales support of Amarinth’s range of oil and gas pumps in the United Arab Emirates.

EthosEnergy, with over four decades of experience in the oil and gas sector, aligns seamlessly with Amarinth’s commitment to excellence. As the leading independent provider of rotating equipment services, EthosEnergy offers a full range of solutions including repair, optimisation, upgrades and replacement parts for onshore and offshore field services. EthosEnergy’s proven track record in upstream, midstream and downstream processes makes it the ideal partner for delivering regional product and after-sales support for Amarinth’s proven range of oil and gas pumps that are used in the most challenging environments across the Middle East.

This strategic collaboration further underlines Amarinth’s investment in the regional oil and gas sector, emphasising its commitment to in-country support through expanded facilities. Building on EthosEnergy’s existing knowledge and expertise, Amarinth will equip engineers with relevant training, ensuring they have the necessary skills to maintain Amarinth’s recognised standards. In turn, EthosEnergy will contribute local personnel and stateof-the-art facilities in the UAE to provide seamless technical support.

This alliance enables oil and gas organisations in the region to have easier access to localised expertise for commissioning and maintaining Amarinth’s API 610 and API 685 horizontal, vertical and in-line pumps.

We are delighted to sign this agreement with EthosEnergy, expanding our in-country presence and enabling us to deliver more local high-quality support to organisations operating in this region.

Oliver Brigginshaw, Managing Director, Amarinth

This allows those organisations to select a high-quality, Amarinth-trained local supplier. This ensures the fulfilment of diverse needs, ranging from new Amarinth pumps to cost-effective replacements and refurbishments, as well as Amarinth’s re-engineered spares for obsolete pumps from other OEMs where the original manufacturer has ceased operations.

ASCO training provider NSL joins with Mintra to offer specialist online training courses

Mintra, a global leader in digital learning and human capital management systems for safetycritical industries, has announced a strategic partnership hosting eLearning courses for ASCO training provider, North Sea Lifting (NSL), a leading expert in lifting and associated disciplines across multiple industries.

This collaboration further strengthens Mintra’s position as a market leader in safety-critical digital training within the heavily regulated energy sector.

With over three decades of field experience, NSL is renowned for making lifting operations safer while helping clients to remain compliant in increasingly complex environments.

NSL’s suite of 21 specialist lifting titles, such as Rigging and Lifting, Lifting Operations, Lifting Equipment Regulations and Working at Height, will be hosted on Mintra’s learning and competency system, Trainingportal.

The courses focus on delivering crucial training and developing competence around lifting operations, safety and material packaging standards to improve safety within the energy sector. Developed by NSL’s lifting technical authorities and technical specialists they provide practical solutions through video and interactive tools.

Chris Ryan (Sales Director, Amarinth) and Suhail Akhtar (Middle East Sales Manager, Amarinth) meeting with Mario Cincotta (Executive VP – East Hemisphere, EthosEnergy) and Chris Payne (Facility Operations Director – Abu Dhabi, EthosEnergy) in the UAE office

In light of anticipated supply chain disturbances, logistics companies are urged to proactively implement resilience strategies. These crucial measures aim to fortify businesses against potential disruptions and ensure the smooth functioning of both global and maritime supply chains. Christian Feddersen,

In seeking a digital training partner, NSL is expanding visibility and improving access to thousands more professionals outside of the ASCO website. Mintra was an obvious choice with Trainingportal, its market-leading learning and competency management platform with an expansive course portfolio of safety-critical training, excellent reputation and access to 1.9m workers.

A seamless SCORM file transfer of the courses into Trainingportal has improved accessibility and flexibility for both the business-to-business and business-to-consumer audience. Certifications are available instantly upon course completion, providing the learner with a transferable and universally recognised pass.

AsstrA: impact of Red Sea developments on the supply chain

The unfolding events in the Red Sea are casting a profound impact on global supply chains. The situation, which has been escalating over the past five months, is introducing heightened challenges and disruptions to the maritime routes in the region.

As the situation evolves, seafarers operating in the Red Sea find themselves at increased risk. The Houthi movement’s aggressive policies, particularly targeting vessels heading to Israel or affiliated with Israeli actions, have compelled commercial ships to divert around the African Cape. This redirection is adding approximately 10 days to the typical journey from Asia to Europe, reshaping the dynamics of the container shipping market.

The events have prompted a notable change in industry dynamics, requiring additional tonnage to meet the evolving demands. The Asia-to-Europe trades, in particular, necessitate at least two, and in some cases three ships, to maintain a weekly service navigating around the Cape of Good Hope.

Despite efforts to address this challenges, safe passage through the Red Sea remains elusive, leading container ships to maintain longer routes for the foreseeable future. This extended journey has effectively dealt with the crisis for trade, providing a measure of stability in an uncertain environment.

Due to the unpredictable development of the situation, securing global and maritime supply chains stands out as a paramount objective.

New addition to the energy corridor: introducing CCL

CCL, a fast-growing workforce and talent solutions provider, has announced its official entry into the esteemed Energy Corridor in Houston.

Situated amidst the hub of energy expertise, CCL brings a fresh perspective and a wealth of experience to the world of workforce development. With over five decades of experience and a commitment to accessible talent experts, CCL is poised to make a lasting impact on the region.

CCL is dedicated to the evolving workforce needs of the energy industry. With a focus on quality services driven by the importance of fostering collaboration within the industry, CCL aims to drive progress and help shape the next generation of industry experts.

The arrival of CCL to Eldridge Oaks signifies not only a new company chapter, but shows a lasting commitment to Houston. With its blend of expertise, vision and determination, CCL is set to become a driving force in shaping the workforce landscape. i

https://asstra.com/

Deputy COO OL for Procurement and TL, AsstrA

Costain selected for landmark £4bn carbon capture project

Costain, the UK infrastructure business, has been selected by Net Zero Teesside Power (NZT Power) and the Northern Endurance Partnership (NEP) as one of nine specialist partners for a landmark carbon capture scheme with a combined value of around £4bn. NZT Power and NEP are joint ventures involving the global energy leader, bp.

Costain’s involvement with NZT Power, NEP and their partners is to oversee and manage the engineering procurement and construction of the onshore CO2 gathering system and associated utilities serving the East Coast Cluster.

Costain is a recognised leader in energy infrastructure and in shaping energy transition solutions through its leading process design and programme management expertise. It has been involved in carbon capture projects since the 1960s and recently completed the front-end engineering design (FEED) for important elements of the landmark Teesside decarbonisation project.

The contracts are all subject to the receipt of regulatory clearances and final investment decisions (FID) being taken in September 2024 or earlier. The projects would be aiming for commercial operations from 2027.

Management buyout starts new chapter for Crondall Energy

A management buyout at Crondall Energy has seen a large proportion of members of its team take an ownership stake in the independent offshore energy consultancy.

Founded in 2001, Crondall Energy provides strategic, commercial and technical services for offshore energy projects in the UK and around the world, specialising in floating and subsea facilities. The business has a 55-strong workforce based in Southampton, Aberdeen, London, Glasgow, Newcastle, Singapore and Houston.

The leadership team at Crondall Energy has long favoured shared ownership of the business as a core component of its ethos; prior to this transaction, 18 directors and employees held shares or options.

The MBO sees founder Duncan Peace retain a minority stake in the company as he prepares to retire from full-time executive involvement, while retaining a non executive position on the Board.

Led by managing director Anna-Louise Peters, 29 staff now own a share of the business as it embarks on the next stage of its journey.

PKF Francis Clark acted as lead advisors on the management buyout (MBO) process, including feasibility studies, securing funding and deal structuring. The MBO was funded by a flexible debt facility from ThinCats, with legal advice provided by Foot Anstey.

Crondall Energy is a leading independent consultancy providing strategic, commercial and technical services for offshore energy projects using floating and subsea technologies.

Operating within six business streams, Energy Transition, Offshore Renewables, Floating Production, Subsea & Pipelines and Business Consulting & Technology Development, Crondall Energy provides a range of services that span the life cycle of an offshore energy development from concept to late life.

The company works with a range of project stakeholders, including energy companies, investors and law firms. It helps clients to manage technical, commercial and strategic risks and achieve positive project outcomes.

As a company Crondall Energy has over 22 years of experience working on offshore floating production and subsea developments globally from early concept to late life.

Crondall Energy is passionate about transforming the offshore energy sector and supporting the decarbonisation of our economy by working closely with offshore operators and developers towards the net zero future of energy.

Costain to manage onshore CO2 gathering systems for NZT Power and NEP

Photo © Costain

deugro strengthens focus on wind and renewables as it celebrates 100 years

Heavy lift and project cargo specialist deugro is strengthening its focus on the green energy sector as it marks the start of its 2024 centenary celebrations.

Family-run deugro, which was established in 1924 in Frankfurt am Main, Germany, has been steadily increasing its focus on the new industries in recent years.

deugro, which first entered the Middle East market in Saudi Arabia in June 1982, today has eight regional offices in five countries, with the additional countries being the UAE, Bahrain, Oman and Qatar.

In addition to supporting several large solar farms across the Middle East, deugro recently completed transporting several super heavy lift cargoes for the world’s largest green hydrogen plant located in Saudi Arabia. The company is a leading expert in project freight forwarding, ocean transportation, transport and marine engineering and heavy haulage and equipment management.

DNV: optimism prevails in global energy sector despite threat of political uncertainty

DNV, the independent energy expert and assurance provider, has revealed a resilient optimism within the energy sector, despite prevailing caution. According to DNV’s annual Industry Insight survey, 73% of senior energy professionals express confidence in the industry’s growth trajectory for the upcoming year, a figure that has remained steady at around 74% since 2022, reflecting a resolute stance amid turbulence.

Amidst fluctuating prices, disruptions in supply chains, wavering investor confidence and shifting regulations, stakeholders stress the importance of maintaining a long-term perspective, anchored in stable supply contracts.

Ditlev Engel, CEO Energy Systems, DNV

However, beneath this apparent stability lies a complex landscape of shifting dynamics. While the industry as a whole maintains a positive outlook, specific sectors, such as electric power and renewables, have witnessed notable declines from previous peaks.

DNV’s survey stresses that nearly two-thirds of the energy sector view global political uncertainty as the primary threat to success over the coming year. Specifically, DNV’s study reveals that nearly two-thirds (62%) of respondents perceive the 2024 wave of elections and potential policy shifts as one of the steepest barriers to growth. Political uncertainty, which ranked as the 13th major concern in 2022, surged to sixth place in 2023.

2024 marks a record year for elections, with over two billion people heading to the polls.

The prospect of continued policy upheaval is of particular concern in the Americas, with 71% of Latin American and 67% of North American energy professionals highlighting political issues. Given its importance to the global energy sector, the outcome of the upcoming elections in the US hold particularly significant implications for energy industry sentiment and strategic planning.

Optimism among respondents in electrical power has dipped from 87% to 76%, while renewables have experienced a similar downward trend, from 87% to 78%. This decline mirrors a broader shift in industry growth expectations and organisational confidence, with rising costs and supply chain disruptions posing significant hurdles to project viability and the pace of energy transition. Notably, the electric power industry faces a pronounced shortage of skilled talent, hindering progress in energy transition and digital initiatives. Meanwhile, renewables grapple with regulatory hurdles and intensifying market competition.

There has also been a fall in optimism about organisational decarbonisation targets among survey respondents, with the majority (62%) believing that financial costs are the greatest barrier to reaching the goals of the Paris Agreement.

On a brighter note, the oil and gas sector has undergone a resurgence in confidence, rising from 58% in 2022 to 68% in 2024. This recovery reflects the industry’s pivotal role in meeting global energy demand while navigating the transition to cleaner fuels. Established oil and gas companies have also gained from branching out into decarbonisation and renewable energy.

ECITB helping unemployed become Work Ready for jobs in engineering

Almost 50 people, including many who have been long-term unemployed, have taken the first steps to securing a job in the engineering construction industry after beginning Trainee Maintenance Operative (TMO) Work Ready programmes.

Three cohorts started in Hampshire, Pembrokeshire and Teesside and will gain recognised industry skills and accredited qualifications.

On successful completion of the programme, a number of permanent roles will be guaranteed with Altrad Services on local sites across the country.

The three pre-employment programmes come after a further group of 12 started on the Work Ready initiative in Cumbria last month. On successful completion of that programme, the learners will secure jobs with Jacobs Field Services and Shepley and will be deployed onto the Sellafield nuclear site.

Work Ready is a collaborative and co-funded partnership between the Engineering Construction Industry Training Board (ECITB), a college or training provider, employers, the Department for Work and Pensions (DWP) and other local partners or authorities.

They have been developed to create a pipeline of new entrants aged 18+ and help address skills shortages in the engineering construction industry, with the ECITB’s Labour Forecasting Tool predicting a 28% increase in demand for workers by 2028.

Referrals for the programme came from the Department for Work & Pensions’ (DWP) jobcentres, as well as candidates directly applying via online adverts and through regional events.

As well as being introduced to skills related to health and safety, rigging and mechanical joint integrity, the programme also involves learners achieving a Level 2 Diploma in Performing Engineering Operations.

The Pembrokeshire programme is being delivered by Pembrokeshire College and Providence Training and is co-funded by the Welsh government and the UK Shared Prosperity Fund, which is a central pillar of the UK government’s Levelling Up agenda.

The Hampshire programme is a collaborative initiative between the ECITB, Altrad, Hampshire County Council, the DWP and training provider SETA, which is delivering the training from its Southampton base, with funding coming through Skills Bootcamps.

The ECITB’s strategy, Leading Industry Learning, sets out our plans to grow new entrant pathways, like Work Ready, into the engineering construction industry. These latest initiatives further demonstrate the steps the ECITB is taking to grow capacity within the industry. I would like to wish all learners the best of luck on their journey and future careers.

Andrew Hockey,

Chief Executive, ECITB

The Teesside programme is also funded by Skills Bootcamps through Tees Valley Mayor and Combined Authority (TVCA), with partners including NETA Training, part of the Education Training Collective (Etc), the ECITB, Altrad and local partners in the area. Delivery of the training is taking place at NETA’s Stockton branch.

Skills Bootcamps are fully funded for learners in England by the Department for Education, as part of the government’s Lifetime Skills Guarantee, and are delivered locally through partnerships such as those in Teesside and Hampshire.

The funding provides free, flexible courses of up to 16 weeks, giving people the opportunity to build up sectorspecific skills to move into employment.

HARTING: customised connectivity solutions for the hydrogen market

Robust and reliable connector solutions are essential for the production and distribution of hydrogen. The efficient networking of all components and systems, secured by connectivity, is necessary to implement an effective process flow, from the generation through to the distribution and consumption of hydrogen.

The hydrogen industry needs reliable and long-lasting connectivity solutions in different areas. Wherever monitoring and control is necessary during the production (electrolysis), storage, distribution and filling of hydrogen, HARTING offers modular and individually configurable components as well as customerspecific system solutions.

In electrolysis they simplify the scaling of hydrogen-producing systems. Custom-made and fully tested cable sets and connectors simplify maintenance and the HARTING RearFit reduces assembly times thanks to the ability to rear mount inserts. HARTING also offers connector solutions for increased temperature and insulation ranges, which are crucial for both electrolysis and fuel cell applications.

Due to compression and decompression in the hydrogen distribution process, the monitoring of signals, such as pressure, temperature and valve positions, is essential. Modular plug connectors such as the Han® B for standard requirements, the Han® Ex for ATEX environments and the Han® M and Han® HPR for harsh environments are all possible solutions. In addition, the Han-Modular® offers effective signal transmission and the option of pneumatic connections.

For more information: www.ecitb.org.uk

Pre-assembled, space-saving system solutions are ideal for a market which demands high flexibility and reliability. They consist of fully tested cable assemblies with plug connectors and connection distribution boxes on the storage units.

To allow developers of electrolysis or infrastructure storage technologies to concentrate on their core processes, HARTING takes on the specification, selection and development of the appropriate electrical connection technology. Technical experts support the entire project and the accredited HARTING Quality and Technology Centre (HQT) supports the qualification, validation and, if necessary, approval of the developed solution.

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For more information: www.harting.com/UK/en-gb

Online Electronics rebrands to IK Trax – signalling a new era of technological innovation

Online Electronics has proudly announced its rebranding to IK Trax, which became effective on 26 March 2024. As an Aberdeen-based company, it experienced significant advancements over the past year, culminating in this strategic decision to rebrand.

The new brand identity is underscored by a technology-driven slogan, Intelligent Pipeline Technology, reflecting IK Trax’s position as a forward-thinking leader in the industry. This evolution not only reinforces the company’s dedication to providing real-time data and total assurance to clients but also signals a closer integration with the wider IK Group.

This will allow the company to leverage collective resources and expertise, enhancing its ability to address clients’ needs globally.

IK Trax’s new online home, found at www.iktrax.com, offers a modern website where users can easily find the complete range of products and all necessary information, making navigation more intuitive than ever before.

iFor more information: https://iktrax.com/

Kent wins landmark 3-year framework contract with Repsol

Kent, the global integrated energy services provider, has been awarded a comprehensive 3-year framework contract with Repsol Norge for various operations in the Norwegian sector of the North Sea. This contract encompasses a wide range of critical services including studies, specialist engineering support, EPCI (engineering, procurement, construction and installation) packages and the provision of structural integrity and analysis services.

Kent brings to the table an unparalleled legacy of over 40 years of providing topnotch structural integrity services across numerous offshore assets. This depth of knowledge and expertise positions Kent uniquely to enhance service delivery for Repsol Norge, underscoring a longstanding partnership that has seen Kent deliver continuous structural integrity management support over the years.

The contract signifies a milestone in supporting the safe and sustainable structural integrity management of existing and future offshore facilities across the North Sea, highlighting Kent’s commitment to operational excellence and safety.

Kent is a privately-owned international integrated energy services partner backed by Nesma & Partners. Founded in 1919 as a small family business in Ireland, Kent is a 13,000 people strong, client-centric team and US$1.4bn revenue global business. It delivers sustainable and innovative engineering services and project delivery solutions for the oil and gas, industrial, renewables and low-carbon industries. It has a roster of blue-chip clients, including international energy companies, national oil companies, renewable energy companies and global petrochemical companies.

i

For more information: https://kentplc.com/

HARTING Connection Distribution Box

Kent has been awarded a comprehensive 3-year framework contract with Repsol Norge in the North Sea

The IK Trax team

Photo

The combined skill set of SeaKing, CO-AT and Modutec opens a unique proposition to the market. Our 515 staff will support customers with a deep technical solution with the capacity to scale across multiple geographies. Brian Knowles, Managing Director, Modutec

Modutec acquires marine electrical specialist SeaKing

UK-headquartered Modutec has announced a majority investment in Birkenhead based electrical engineering group SeaKing.

SeaKing provides electrical engineering and installation services to its customers in the marine, defence, renewables and offshore sectors. Recognised internationally for its expertise in hazardous area electrical works, SeaKing undertakes major overhaul of assets through to minor maintenance activities.

SeaKing, which employs 105 staff, enhances Modutec’s offering and closely follows the integration of HVAC specialists CO-AT Marine as part of the expanding portfolio.

Modutec provides technical solutions to enhance the well-being and safety of offshore workers in hazardous environments. These include maritime assets used for defence, transportation and offshore energy developments.

The combined business employs 515 staff across key international hubs in the UK, Europe, Caspian and the Middle East.

OEM Group forms strategic alliance with Avantis Marine

Avantis Group, a leader in ecofriendly marine solutions, is excited to announce a strategic alliance with OEM Group Limited, a frontrunner in oilfield services. This collaboration, supported by a memorandum of understanding, marries Avantis Group’s dedication to environmental stewardship with the comprehensive oilfield capabilities of OEM Group.

Formalised in December 2023, the alliance builds upon OEM Group’s solid foundation established by Barry Park in 2012 and its further expansion in to the UAE in 2021. This union is set to forge new paths in service efficiency and innovation across engine services, drilling rental tools, fuel testing and filtration, in line with Avantis Marine’s goal of augmenting operational prowess in the marine and oil and gas arenas.

Avantis has been a pivotal force in spearheading environmental initiatives and sustainable practices within the marine sector. OEM Group’s global outreach and its focus on customeroriented services are anticipated to elevate this partnership, setting new precedents within the industry.

Pioneer Safety Group expands with the acquisition of Petrel Ltd

The Pioneer Safety Group, which is a worldwide leader for explosion protection solutions, Ex products and industrial safety solutions and part of the Longacre Group, has acquired Petrel Limited, a UK based manufacturer of explosion proof lighting solutions.

Petrel, based in Birmingham, has over 40 years’ experience in the design and manufacture of Ex lighting products suitable for a range of industries and hazardous area classifications. Petrel also provides bespoke lighting solutions through its lighting design service which optimises the layout for the users and minimises costs for the facility. Petrel sells through distributors and strategic partners to provide end users, system integrators and OEMs its high-quality lighting solutions which proudly bear the Designed and Made In Britain marking.

Headquartered in the UK, companies in the group provide a wide offering of products and services, including consultancy for hazardous area operations, explosion protection equipment and components, fire risk management and much more.

Proeon celebrates its 20 year anniversary

Proeon Systems is celebrating its 20th anniversary during 2024, which is a proud milestone for the business.

What began as a humble endeavour in a garden shed in 2004 has evolved into a thriving multi-million-pound business having navigated the challenges of a competitive business climate, experiencing highs and lows along the way.

From its original vision of providing professional consultancy safety control systems engineering services the company now employs almost 80 people, operating across the transitional energy sector and several other highly regulated industries, providing full turn-key solutions to it’s clients across the UK and Europe.

Proeon prides itself on its ability to exceed client expectations in the provision of value and quality and in adopting a flexible approach to clients’ requirements.

Over the past 24 months, Proeon has experienced unparalleled growth, solidifying its position as a key player in the control and automation systems sector and securing several multimillion-pound projects with clients across Europe in renewable energy, in particular the offshore wind sector.

Proeon focusses on nurturing talent, fostering innovation and strengthening internal capabilities, offering targeted training programmes, to ensure its team is equipped with the latest skills and knowledge, to enable the company to maintain a competitive edge. Encouraging future development, it provides a variety of apprenticeships and graduate engineer programmes.

Proeon has ambitious expansion plans on the horizon to assist the company in achieving sustained and manageable growth, to continue into the next decade.

For more information: www.proeon.co.uk

Social media round up

AEG Power Solutions introduces IGBT industrial UPS system Protect 8 PLUS

We want to use every opportunity to connect with our members, so please follow us on Twitter (@TheEICEnergy) and connect with us on LinkedIn –EIC (Energy Industries Council)

Below you’ll find a selection of some of the exciting EIC activities and useful industry information we’ve shared through our social media channels.

AEG Power Solutions (AEG PS), global provider of power systems and solutions for all types of critical and sustainable applications, has introduced a new range of uninterruptible power supply (UPS) systems, which feature a full IGBT architecture and industrial-grade build quality to provide a safe power backup to protect refining and petrochemical industries, transportation infrastructures, manufacturing and other critical businesses against all power disturbances.

EIC CEO Stuart R Broadley HonFEI is speaking at CCS Strategy Europe on 19-20 June in London. Visit www.linkedin.com/feed/update/ urn:li:activity:7197204753628426240/

Protect 8 PLUS supports a standard three-phase input and is available as single-phase or three-phase output from 10 to 40 kVA, with 216 Vdc or 384 Vdc battery voltage. By the end of the year, it will also support 60 to 120 kVA in both configurations.

EIC (Energy Industries Council)

Join us at #EEC24 to engage directly with the supply chain and discover project opportunities in key global energy markets. Explore the full agenda https://lnkd.in/e5N_jJiQ

Thanks to its IGBT rectifier, the system offers a high input power factor of up to 0,99 and very low harmonic current rejection on the input side (THDi) which makes it a perfect fit in situations where the UPS is supplied by a generator set or to avoid harmonic perturbations of loads connected to the upstream busbar.

The EIC @TheEICEnergy

Latest industry news – Embracing Tomorrow: Score reveals dynamic new brand identity. Visit https://www.the-eic. com/MediaCentre/Detail?articleId=1746

EXPORTS CONFERENCE

This results in substantial savings on the sizing of the upstream network. The bi-directional rectifier also enables several battery capacity tests feeding back into the grid without using the bypass line, requiring additional load banks or affecting the load.

With the Protect 8 PLUS, AEG Power

EIC (Energy Industries Council)

Events calendar LIVE events

10 July Business Presentation

13 August LIVE e-vents

EICDataStream/AssetMap training

19 July Corporate Entertainment

EIC APAC Connect & Chill

24 July Business Presentation

EICDataStream/AssetMap training

1 August LIVE e-vents

CIS Market & Project Update

15 August Business Presentation

Decommissioning with Petrobras Rio de Janeiro

21 August Business Presentation

EICDataStream/AssetMap training

EIC Members – Speedy Networking

7 August Business Presentation EICDataStream/AssetMap training

26 August Overseas Exhibition

Offshore Northern Seas (ONS) 2024 Stavanger Forum, Norway

28 August Business Presentation

Advancing Scotland’s Energy Transition

ETZ Hydrogen, Marcliffe Hotel and Spa, Aberdeen

2 July 2024 • Rio de Janeiro

Global Events and Campaigns

Team update

June is a busy month for the Global Events and Campaigns team as our highly anticipated Energy Exports Conference is set to unfold. With a staggering lineup boasting over 30 sessions, 100 esteemed speakers and 40 exhibitors, the two-day conference promises to bring together the energy industry to discuss global opportunities available to the supply chain across multiple sectors, all under one roof. During the event we will hear from Aker Carbon Capture, Baker Hughes, Bechtel, BlueFloat Energy, Equinor, Kent, McDermott, Ørsted, Petrobras, Petronas, SLB, thyssenkrupp nucrera, Wärtsilä, Wood, Worley, Xodus and many more. Make sure to register for your free place and join us in Aberdeen on 11-12 June.

We have a diverse agenda across the two days highlighting opportunities in Africa, Asia Pacific, the Baltic Sea, Greece, Libya, Middle East, North, Central and South America and Turkey, alongside our sector specific sessions covering global projects in oil and gas, hydrogen, carbon capture, floating offshore wind and the nuclear industries.

If you want to find out about our impressive speaker line up, you can view our full agenda online www.the-eic.com/EEC/Agenda

The team has also been working away in the background and just last month, we proudly launched our newest addition to the calendar: Bankable Energies. Scheduled for February 26-27 2025 in London, this brand-new event aims to bring together the global investment community, project developers and policymakers to discuss the global shift needed to attract investment and drive projects forward. Make sure to check out the website for more information.

Jo Campbell

In addition to these flagship events, we’re thrilled to announce our partnership with Mott MacDonald for a special engagement in Milan on 2 July 2024. This event will explore thermal energy transition topics and discuss when and how technology and infrastructure will deliver net zero targets. The event will take place adjacent to the Global Energy Transition (GET) Congress & Exhibition (1-3 July), register for your free place here www.the-eic.com/EventDetail?dateid=4271

Jo Campbell, Director of Global Events and Campaigns jo.campbell@the-eic.com

energy

Show Highlights

International trade

Trade delegations

The International Trade team is delighted to once again be ramping up our trade delegations schedule. Having just delivered a successful delegation to Guyana in March in partnership with the AIA, where we had 14 delegates, we recognise the desire from our members to see more delegations added to the calendar.

With access to key markets, support, networking opportunities and valuable market intelligence, delegations offer a unique opportunity to get to know your target market, streamline the market entry process and set your company up for success with exporting. Delegates enjoy small meetings directly with the procurement and supply chain teams in that country with major operators and EPC contractors, as well as learning about local content, cultural and legal requirements and meeting with potential agents.

Benefits of participating in a trade delegation

• 3-5 pre-arranged meetings per day with key players in market and government bodies.

• Market intelligence report and project insights from EIC sector analysts.

• Meet with local companies, partners and agents.

• In-country briefing: local content, business environment and key challenges in market.

• Networking reception with key players in market to widen your network.

• Support from EIC office in UK and overseas.

• Company profile in official delegation brochure distributed pre-event and during meetings.

Sunday

Monday am

Monday pm

Monday evening

Tuesday am/pm

Wednesday am/pm

Thursday am/pm

Friday am

Friday pm

Trade Delegation to Colombia 2024

2-6 September

Bogota and the Colombian Caribbean

Join the all energy trade delegation to Bogota and the Colombian Caribbean with the EIC in partnership with AIA. Colombia is a major oil and gas player in South America, producing as much oil as the UK. The delegation will focus on oil and gas but also look at upcoming opportunities in offshore wind and hydrogen. Early bird rates end on Friday 28 June 2024.

Trade Delegation to Guyana 2024

3-6 December

Georgetown, Guyana

Due to the success of our last delegation, the EIC in partnership with the AIA will host another trade delegation to Guyana this year. Guyana’s project portfolio is increasing in number and CAPEX and contract activity grows steadily every year. From FPSOs to pipelines and gas processing plants, the South American country offers a wealth of opportunities for the energy supply chain.

Trade Delegation to Rio de Janeiro 2024 October

Rio de Janeiro, Brazil

One of the world’s leading energy producers, Brazil has a considerable pipeline of capital expenditure projects across the oil and gas and clean energy markets, more than a decade after the start-up of the first FPSO operating in the pre-salt area.

Camilla Tew, Director, International Trade camilla.tew@the-eic.com

EXAMPLE DELEGATION ITINERARY

Group arrival followed by ice-breaker dinner

In-country briefing covering taxation/business culture/procurement

Company visits/group meetings to be arranged

Networking reception

Company visits/group meetings to be arranged

Company visits/group meetings to be arranged

Company visits/group meetings to be arranged

Company visits/group meetings to be arranged

Wash up meeting and depart/end of programme

UK news

UK events update

EIC has been proudly supporting our members for over 80 years, helping companies – large and small – to maximise business opportunities across the energy industry, globally.

And many of our members have been supported by EIC for a number of those 80+ years.

We are proud to shine a spotlight on members who have had a long-standing commitment to EIC, having been in continuous membership for a number of years. Members are at the heart of everything we do, so it is so rewarding for us as a business when we see companies engaging with us, long term.

A special mention to the following member companies who this year, have hit a key milestone of being in continuous membership:

70 YEARS

Costain

40 YEARS

Project Pipeline Supply Ltd

30 YEARS

Bergen Pipe Supports Ltd

20 YEARS

Atmos International Ltd

Band-It Company Ltd

BGEN Ltd

CETCO Energy Services Ltd

Darchem Thermal Protection

DOT Group International Ltd

Evoqua Water Technologies

FH Bertling Logistics Aberdeen Limited

Future Pipe Ltd

Mammoet UK Ltd

MTE Ltd

Oglaend System UK Ltd

RigNet

Severn Glocon UK Valves Ltd

15 YEARS

Amarinth Limited

Hilti Corporation

HKA

Intertec Thermotex Ltd

Mott MacDonald Ltd

OGS

SAMSON Controls Ltd

Starn LLC

WSG Energy Services

10 YEARS

Cargostore Worldwide

CiTECH Energy Recovery Solutions UK Ltd

Element Materials Technology

Glacier Energy

HMI Elements Ltd

Land & Marine Engineering Ltd

Cutting & Wear Resistant Developments Ltd

Marubeni Itochu Tubulars Europe Plc

Mass Exports EMEA Limited

Online Electronics Ltd

Vega Controls Ltd

WIKA Instruments Limited

5 YEARS

ARI Armaturen

ASCO Group Limited

Canalta Flow Measurement

COMECA

Crondall Energy

EnerMech Ltd

Expro

Hi-Force Ltd

McDermott

MJBI

Pacson Valves

Precision Polymer Engineering Limited

Rain for Rent International Ltd

Rapid Solutions Ltd

Rigtrans Intermodal Limited

Samuel Knight International Ltd

SERIMAX

STATS Group

Vee Bee Filtration UK Ltd

Waves Group

This year’s host of the National Awards Dinner in London is the brilliant Rob Brydon MBE. Bookings are now open for this highly anticipated event, so invite your clients, colleagues and friends along for an unforgettable evening of celebration, entertainment, wonderful food and networking. For further information or to find out about the various sponsorship options please email eventsuk@the-eic.com

Kim Stephen, Regional Director, UK kim.stephen@the-eic.com

Kim Stephen

Middle East news

Regional update

EIC Connect UAE once again stood out as a highlight this year. A heartfelt thank you to all our speakers and attendees for their vibrant participation, showcasing the dynamic activity across the energy sector. With ADIPEC now just under six months away, we anticipate maintaining this momentum.

Next stop in the series is our inaugural Connect Kazakhstan taking place on 24 September, just before KIOGE –Kazakhstan Oil & Gas Exhibition and Conference in Almaty. Further details are available on our website, and we hope to see many of you there for this milestone event.

In addition, we are currently celebrating the 20th anniversary of our Dubai office with various events throughout the year. We invite you to our 20th Anniversary Celebration Lunch on 6 June, featuring renowned author and The National columnist Robin Mills, and a fireside chat with Ellis Renforth, President of Operations EMEA at Wood. Please visit our website for booking information.

If you follow me on LinkedIn, you cannot have failed to notice the various Survive & Thrive posts following on from over 25 interviews that I have had the pleasure of conducting. It was a privilege to hear more about our members’ stories which gave me a deeper appreciation and understanding of your respective businesses alongside the challenges we face. I remain optimistic about our future and am proud to be part of what I consider to be the best industry in the world.

I eagerly await the full publication in June 2024 followed by our World Energy Supply Chain Awards taking place as part of our Regional Awards on 17 October 2024 onboard the illustrious QE2. Best of luck to all those involved.

Additionally, the Energy Exports Conference 2024 returns to Aberdeen from 11-12 June with another impressive programme. I’ll be there and am looking forward to catching up with many of you over the two days.

As we approach the second half of the year, stay tuned for more significant events, including our first-ever EIC Technology Day in September. This will be a fantastic opportunity to exhibit and pitch any product innovations to a broad audience.

In the interim the entire team remains dedicated to helping provide opportunities for knowledge sharing and networking within the industry. We are here to support you in maximising these opportunities in a thriving market.

Ryan

McPherson Regional Director, Middle East, Africa, Russia & CIS ryan.mcpherson@the-eic.com

Regional news

Oman signs 10-year LNG supply deal with Shell

Oman LNG has entered into a 10-year agreement with Shell to supply up to 1.6m metric tonnes of liquefied natural gas (LNG) annually, starting next year. This partnership aligns with efforts to optimise operations to satisfy increasing global demand.

This development underscores the strategic importance of LNG in Oman’s energy strategy, positioning the country as the second-largest exporter of the commodity in the Middle East, following Qatar.

Lebanon struggles to fund energy sector growth amid financial challenges

Lebanon is facing significant challenges in securing funding for its energy sector development. Difficulty in accessing significant investment from major international financial institutions like the World Bank and the European Bank for Reconstruction and Development is having a major impact.

This funding shortfall affects not only oil and gas projects but also renewable energy initiatives, despite Lebanon generating about 25% of its electricity from renewables. The country needs additional solar capacity, which could cost billions, to complete its energy transition.

Ryan McPherson

Asia Pacific news

Regional update

In May 2024, EIC Asia Pacific successfully hosted the Meet the Energy Players in Indonesia event in conjunction with the Indonesia Petroleum Association Convex (IPA). This networking event took place at The Elysium Rooftop Dining and Lounge in Jakarta and proved to be a significant success. It offered an excellent platform for energy industry professionals to network, exchange ideas and forge lasting relationships. One of the event’s sponsors and co-hosts, EXS Energy, seized the opportunity to introduce its new intellectual software product. Khairun Suffia, the market intelligence manager, presented on the energy market outlook in the Asia Pacific, focusing on the country’s strategic positioning within the industry landscape. The event was well attended by association members and key industry stakeholders, including SKK Migas, IATMI, IAFMI and the Indonesia Carbon Capture and Storage Center (ICCSC).

To conclude June, EIC APAC will organise a networking event at the Sabah Oil & Gas Conference & Exhibition (SOGCE). SOGCE will feature the latest in equipment, technology and solutions, highlighting competitive advantages and expertise in the field. With the exhibition running concurrently over two days, it will offer significant value to professionals attending the conference and the planned networking event.

Azman Nasir Head of Asia Pacific azman.nasir@the-eic.com

Malaysia initiates fifth round of large scale solar bidding

Additionally, Wan Afiq, a senior energy analyst, represented EIC at Future Energy Asia in Bangkok, Thailand. The event, hosted by the Ministry of Energy of the Kingdom of Thailand and co-hosted by PTT Group and EGAT, took place from 15-17 May. The Future Energy Asia Exhibition and Summit, which also included Future LNG Asia and Future Mobility Asia, brought together over 22,000 international energy professionals, investors and innovators to promote and support Asia’s transition to clean energy. During the conference, Wan Afiq delivered a presentation on the solar PV market outlook in the Asia Pacific, highlighting significant trends and investment opportunities in the region.

As June 2024 approaches, the energy market in our region continues to demonstrate dynamic growth. Over the past five months, we’ve observed numerous project announcements across various sectors, with renewables and other energy transition initiatives like hydrogen, carbon capture and energy storage leading in new project additions. There is a clear commitment within the region to decarbonise and create a greener, more resilient energy landscape.

In the coming month we are excited to host the ENERtec Asia 2024 Pre-Event Networking in Malaysia. Running concurrently with ENERtec Asia, this event will serve as a vital platform for industry leaders to connect and engage in meaningful networking activities. We are also proud to be the conference partner for ENERtec Asia 2024, where we will facilitate a two-day conference focused on the current energy landscape and regional developments. This is a prime time for us to advance alongside the industry’s growth in our region.

The Ministry of Energy and Natural Resources in Malaysia has declared the launch of the fifth round of the nation’s large scale solar (LSS5) tender. This 2GW solar tender encompasses four packages, including rooftop, ground-mount and floating solar projects, with permitted generation capacities ranging from 1MW to 500MW. The solar plants developed under LSS5 are slated to begin operations in 2026.

Gurin Energy achieves FID on solar project in Philippines

Gurin Energy has approved a final investment decision (FID) on the Capas solar farm. The project will be in the municipality of Capas in Tarlac province. The project will have a peak capacity of 39MW. A 40-hectare site has been secured for the project through a 25-year lease agreement with the Philippines’ Bases Conversion and Development Authority (BCDA). The set date for the project’s completion is yet to be disclosed. The Capas solar farm will generate enough clean energy to power 18,000 homes and avoid more than 1m tonnes of CO2 emissions over its lifespan.

wwwRegional news

Azman Nasir

North and Central America news

Regional update

Amanda Duhon

During March our team had the pleasure of hosting a mixture of webinar and in-person events. As previously promoted, we held our online event in celebration of Women’s International Day, Women in Energy: a Look Through Time on 7 March. During this session, our panel of distinguished speakers reflected on the opportunity energy transition provides for all, the importance of authenticity, self-awareness, motivational intelligence and the impacts of unintentional bias. Thank you to our panellists and moderator, Dr Ibilola Amao, Principal Consultant, STEM/ TECH Specialist & Entrepreneur, Lonadek; Jillian Evanko, CEO Chart Industries, Inc; Beena Sharma, CEO and Co-Founder, CCU International; Rakhi Oli, Global Strategic Business Management Leader – Low Carbon Solutions, Flowserve Corporation and Don Victory, Founder and Chair, Energy Mentors for their time and participation.

Also online, we welcomed the EIC’s analyst team on 14 March for the last instalment in our 2023-2024 North & Central America Market Update series covering renewables and energy transition. Thank you to our analyst, Pietro Ferreira, EIC Market Intelligence Manager, CAPEX, for your valuable presentation. Beyond our virtual events on Tuesday 26 March, the team welcomed the PEMEX PPI team in continuation of our 2023-2024 North & Central America Business Briefing series. During our in-person event, Aura Alavarado, Supplier Management & Analysis Coordinator and Ernesto Blanco, Supplier Management & Analysis Manager provided to a full room of EIC members a presentation covering purchasing methods, PEMEX’s E-Contracting System and annual procurement programme. Thank you to the PEMEX PPI team for joining us.

Lastly, closing out the month of March, the business development team and I had the opportunity of attending Decarb Connect from 26-28 March at the Westin Memorial City. In addition to attending, I moderated the Alternative Fuels and Renewables panel alongside panellists Hanh Nguyen, Vice President of Global Sustainability, OCI; Amy Hickman, Director of Sustainability, Birla Carbon and Maureen Kline, Vice President, Public Affairs & Sustainability, Pirelli Tire North America.

To register for our upcoming North & Central America Business Briefing series with Petrofac on 12 November 2024, please visit www.the-eic.com/EventDetail?dateid=4197

Amanda Duhon

VP & Regional Director, North & Central America amanda.duhon@the-eic.com

Regional news

US was the world’s largest LNG exporter in 2023

The US became the world’s top LNG exporter last year, according to the latest data by the Energy Information Administration (EIA). The country exported an average of 11.9bn cubic feet per day over the course of 2023 – a 12% increase compared to 2022. Higher output is credited to the production restart at the Freeport LNG terminal, in addition to increased demand from Europe. Indeed, European countries accounted for 66% of US LNG exports, followed by Asia (26%), Latin America and the Middle East (8% in total). Major LNG exporters beyond the US included Australia, Qatar, Russia and Malaysia.

CAISO discloses over 26 offshore wind transmission proposals

The California Independent System Operator (ISO) has disclosed its preliminary 2023-2024 Transmission Plan, featuring 26 proposed projects amounting to US$6.1bn, with the majority of investment directed towards offshore wind initiatives. The draft plan would enable more than 3GW of in-state wind generation, the importation of over 5.6GW of out-of-state wind generation and over 4.7GW of offshore wind, with 3.1GW designated for the Central Coast (Morro Bay area) and 1.6GW for the North Coast area (Humboldt area). The projects included in the plan, according to BOEM’s website, have a one-year window from lease execution to submit a site assessment plan for evaluation.

South America news

Regional update

EIC Connect Energy Brazil will be held on 2 July, offering a platform for both EIC members and non-members to network and foster new business opportunities. Through high-level panels and one-to-one meetings, participants will engage with prospective clients and suppliers, spanning established markets like E&P, subsea and LNG, as well as emerging sectors such as offshore wind, biofuels, hydrogen and CCS. Esteemed speakers, including Petrobras, SBM, MODEC, Qair and Corio, will provide valuable perspectives on the latest trends and opportunities within Brazil’s energy sector. For more details, contact rio@the-eic.com

In an initiative to bring more opportunities to local members, EIC is acting for the second edition as the institutional support for the event Brazil: Global FPSO Epicenter, organised by the Oil & Gas Brasil digital magazine. Scheduled for 17-18 June in Rio de Janeiro, EIC members can enjoy a 10% discount on sponsorship packages and event tickets.

Looking back, April was an eventful month highlighted by the visit of our CEO, Stuart Broadley.

Regional news

Low-carbon H2 framework discussions advance in Brazil

The Brazilian Special Commission for Debates of Public Policies for Green Hydrogen (CEHV) gathered to review and discuss the draft bill PL 2308/2023. Approved by the lower house of the Brazilian congress in November 2023, the proposed bill regulates the production of low-carbon hydrogen, instituting voluntary certification and federal tax incentives. The bill’s incentives extend to low-carbon hydrogen producing companies, granting the suspension of taxes on importation of new machinery and equipment, among other advantages. This bill represents a significant step towards establishing the Brazilian National Policy for Low-Carbon Hydrogen, fostering the development of all hydrogen production methods under a robust regulatory framework. Companies, including those already engaged in lowcarbon hydrogen production, will have five years from the publication of the law to qualify for those benefits.

The South America office hosted two major events: Breakfast in Rio and the inaugural São Paulo Breakfast, which brought together over 200 attendees.

In a triumphant debut with Mr Martin Whalley, Director of DBT in Brazil – British Consulate São Paulo opening the event, the Breakfast left an unforgettable mark. Mr Rafael Lima, Commercial Director of TSE, unveiled staggering contracts totalling R$15bn and a history of over 150 projects with Petrobras, while Senior Consultant Carlos Augusto Arentz Pereira of Acelen Renewables divulged plans for a US$2.5bn investment in the Mataripe refinery (BA). We plan to announce more events in São Paulo.

The Breakfast in Rio was themed around subsea opportunities. Miller Rufino, President of Mota-Engil, highlighted recent achievements and investments in EPC projects, while Gabriel Meira, Vice President of EIG, discussed significant investments and the acquisition of 49% of Aramco’s pipeline system.

Jorge Mitidieri, current president of Ocyan, emphasised the company’s mission to achieve net-zero emissions by 2035.

Clarisse Rocha, Director – Americas clarisse.rocha@the-eic.com

Petrobras announces charters for 38 support vessels

The Brazilian national oil company has announced plans to charter 38 support vessels to be built by 2030. Plans include the charter of 12 platform supply vessels (PSVs), 10 oil spill recovery vessels (OSRVs) and 16 ROV support vessels. At the time of writing, tenders for PSVs and OSRVs are expected to be launched soon, while the charter of the RSVs is expected in 2025. No firm local content requirements will be present, but the company hopes the orders may boost construction work in local yards. Petrobras envisages the use of 200 support vessels to replace existing contracts and modernise its current fleet.

Clarisse Rocha