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Stuart O'Brien

Oil and gas outlook set to be dominated by geopolitics and supply chain dynamics this year

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The oil and gas industry has witnessed a considerable upheaval in its supply chains amid the protracted Russia-Ukraine conflict and renewed tensions in the Middle East. Both of these conflicts could potentially disrupt global oil and gas supplies in 2024, and hence, the themes of geopolitics and supply chains are the hot topics for this year.

It is therefore important for the oil and gas industry to assess the impact of these themes while charting out their growth plans, says GlobalData.

GlobalData’s thematic report, “Top 20 Oil & Gas Themes 2024,” reveals the leading themes that could have a significant impact on oil and gas operations in 2024. Energy security concerns are expected to be the major driver for the oil and gas trade in 2024. Furthermore, the pace of the global transition towards clean energy is likely to be slow in 2024, as several countries are confronted with issues of energy security and inflation.

Ravindra Puranik, Oil and Gas Analyst at GlobalData, said: “The fallout of the Russia-Ukraine conflict has resulted in the restructuring of global energy supply chains in the last two years. Moreover, global energy markets must also have to contend with rising tensions in the Middle East. Thus, geopolitics and supply chain dynamics will impact the decision making of oil and gas companies in 2024.”

The report also puts emphasis on the ESG theme and the themes contributing to the global energy transition. Within ESG, the environment and social aspects of oil and gas operations are the focal point of discussion as they are important for long-term sustainability. Newer industry themes that support the energy transition towards zero-emission technologies, such as renewables, low-carbon hydrogen, carbon capture and storage (CCS), and electric vehicles (EV), are evaluated for their potential impact on the oil and gas business in 2024.

Puranik continued: “Profitability is expected to be critical for driving the financing of decarbonization initiatives in 2024. Moreover, the Ukraine conflict has also exposed the vulnerabilities in clean energy generation and, in a way, pushed back the prospect of peak oil for the time being. This is also likely to benefit natural gas and LNG in supporting global decarbonization goals in the medium term.”

The report evaluates traditional oil and gas themes, namely liquefied natural gas (LNG), shale, and integrated refineries, that are enabling companies to remain competitive in the energy market. Shale oil and gas production could reach record levels in 2024.

The report also reveals how disruptive technologies, such as artificial intelligence (AI), blockchain, cloud computing, cybersecurity, the Internet of Things (IoT), robotics, and the metaverse, are impacting the oil and gas industry. Several prominent integrated oil companies (IOCs) have actively sought to digitalize their operations by employing digital technologies. These technologies are bringing in newer work dynamics to improve efficiency, reliability, and operational security.

Puranik concluded: “Oil and gas companies are expected to continue to expand the deployment of digital technologies across their operations in 2024. As the industry prepares to become agile and pursue a long-term energy transition, digital technologies will play a pivotal role in achieving these objectives.”

Registration is now open for October’s Energy Management Summit… Now is the time to book!

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The Energy Management Summit is a bespoke and highly targeted event, where you can meet with a selection of top suppliers, who can help with your upcoming plans and projects, alongside opportunities to network with peers & access to seminars!

You will be provided with a personalised itinerary of pre-arranged, 1-2-1 meetings with suppliers relevant to you. No hard sell, and no time wasted.

The event is entirely free for industry professionals, like you, to attend.

8th & 9th October 2024

Radisson Hotel & Conference Centre, London Heathrow

Your free pass includes;

– A corporate itinerary of one-to-one meetings with leading solution providers

– A seat at our industry seminar sessions, soon to be announced – keep an eye out, register your interest here

– Full hospitality including lunch and refreshments throughout

– Multiple networking breaks to make new connections in your field

– Overnight accommodation

– A gala dinner with a showcase entertainment

Places are in high demand, book your spot here.

RENEWABLES MONTH: Sourcing Sustainability – Top tips for choosing trusted providers in the UK

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The UK’s transition to a greener future presents both public and private sector energy management professionals with a new challenge: sourcing reliable and trusted renewable energy solutions providers. With a multitude of options available, navigating the market and selecting a reputable partner can feel overwhelming. However, by following these top tips from Energy Management Summit attendees, you can confidently choose a provider that meets your specific needs and helps your organisation achieve its sustainability goals…

1. Define Your Requirements:

Begin by clearly outlining your organisation’s energy consumption profile and sustainability aspirations. Factors to consider include desired energy source (e.g., solar, wind, biomass), target electricity or heating needs, budget limitations, and preferred project scale (on-site generation, power purchase agreements). Understanding your specific needs facilitates a focused search and helps eliminate providers who don’t offer compatible solutions.

2. Seek Industry Accreditation:

Prioritise providers that hold relevant industry accreditations, demonstrating their commitment to quality and adherence to best practices. Look for memberships in organisations like theRenewable Energy Association (REA), the Microgeneration Certification Scheme (MCS), and the Federation of Environmental Trade Associations (FETA).

3. Evaluate Track Record and Expertise:

Research the provider’s experience in delivering similar renewable energy projects in the UK. Look for a proven track record of successful installations, a team with qualified and experienced personnel, and a strong understanding of the specific regulatory environment in the UK.

4. Prioritise Financial Stability:

Renewable energy projects often involve significant upfront investments. Choose a provider with a demonstrably stable financial background to mitigate potential risks associated with project completion and ongoing maintenance. Request financial statements and inquire about project financing options.

5. Look Beyond Cost:

While cost-effectiveness is important, consider the long-term value proposition. Evaluate the provider’s after-sales support, maintenance capabilities, and warranty offerings. Opting for a slightly higher initial cost may be justified by longer-term benefits, such as extended equipment lifespan and ongoing technical support.

6. Request References and Case Studies:

Seek references from previous clients within your sector or with similar project requirements. This provides valuable insights into the provider’s communication style, project execution capabilities, and post-installation support. Additionally, requesting case studies allows you to assess the provider’s approach to specific challenges and project outcomes.

7. Ensure Transparency and Clear Communication:

Open communication throughout the project lifecycle is paramount. Choose a provider that prioritises clear communication, providing regular updates on project progress, addressing concerns promptly, and proactively informing you of any potential challenges.

8. Consider Contractual Considerations:

Be meticulous in reviewing contracts and establishing clear expectations. Ensure the contract outlines key aspects such as project scope, warranties, performance guarantees, payment terms, and dispute resolution mechanisms. Seek legal counsel if needed to ensure the contract effectively protects your organisation’s interests.

By following these top tips, energy management professionals in the public and private sectors can navigate the renewable energy provider landscape with confidence. Choosing a trustworthy partner will play a crucial role in achieving your organisation’s sustainability goals and contributing to a greener future for the UK.

Are you searching for Renewable Energy solutions for your organisation? The Energy Management Summit can help!

Photo by Anders J on Unsplash

If you specialise in Carbon Management we want to hear from you!

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Each month on Energy Management Briefing we’re shining the spotlight on a different part of the market – and in March we’ll be focussing on Renewable Energy.

It’s all part of our ‘Recommended’ editorial feature, designed to help energy management buyers find the best products and services available today.

So, if you’re a supplier of Carbon Management and would like to be included as part of this exciting new shop window, we’d love to hear from you – for more info, contact Danielle James on 01992 374085 / d.james@forumevents.co.uk. 

Our features list in full:

Mar 24 – Carbon Management
Apr 24 – Metering & Monitoring
May 24 – Water Management/Strategy
Jun 24 – Energy Storage
Jul 24 – Data Collection & Management
Aug 24 – Waste Management
Sept 24 – Solar PV
Oct 24 – Lighting
Nov 24 – Heating & Ventilation
Dec 24 – Onsite Renewables
Jan 25 – Energy Management Systems
Feb 25 – Renewable Energy

Digital Product Passports ‘will transform’ EV battery industry by enabling supply chain traceability

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Over 5 million BEVs will be sold with a Battery Digital Passport in Western Europe in 2027, where global manufacturers will have to start creating battery Life-Cycle Assessments (LCAs) by 2025. LCAs provide the critical information needed to generate Battery Passports.

That’s according to ABI Research, which says amid a growing demand for sustainable choices, businesses and consumers face challenges in making informed decisions due to data gaps in supply chains. The Digital Product Passport (DPP), pioneered by the European Union, aims to simplify this task. Between 2026 and 2027, DPPs will be first implemented in the greatest environmental impact product group, batteries & vehicles.

“The Digital Product Passport will be a game-changer promoting traceability, material and energy efficiency, and repair-based business models,” says Rithika Thomas, Sustainable Technologies Industry Analyst at ABI Research. The Battery Digital Passport is a digital twin of the battery, which stores information about the battery with a QR code, serial number, and supporting unique verification documents to demonstrate the circular flow of resources from raw mineral extraction to material production, manufacturing, operation, and recycling.  The battery passport aims to be a global one-stop verification for battery quality and responsible manufacturing.”

Successful DDPs rely on strategic data management across ecosystem players. Manufacturers must invest in robust tools for supply chain data and disclosures to unlock the full potential of DPPs. Initiatives like the Global Battery Alliance, with partners such as Audi and Tesla, along with Circularise, Circulor, Minespider, Minviro, and Siemens, prototype Battery Passports to enhance transparency in the battery value chain, reshaping the EV battery industry for a circular and sustainable future. As technology advances, secondary ecosystems, like the recycling market and second-life batteries, will thrive, offering significant carbon emissions advantages in applications such as stationary storage for photovoltaic systems, emergency power supplies, or power buffers for fast charging.

DPPs are an emerging technology within the circular economy framework. Diversifying data collection and applications in consumer goods, construction, apparel, and food sectors through solutions like those from  Avery Dennison, Kezzler, PSQR, 3E, Madaster, and Circuland expands long-term business opportunities. Using DPP for customer engagement and showcasing sustainability commitment ahead of product-specific regulations is crucial.

Detailed product information communicates a company’s dedication to sustainability, quality, regulations, and transparency. “DPP facilitates data collection, collaboration, and informed decision-making, optimizing production and identifying cost-saving and circularity opportunities. Recognized as powerful tools for transparency, digital product passports aggregate lifecycle information on a common platform. Proactive companies gain investment, customer acquisition, regulatory influence, transparency improvement, and operational compliance benefits through sustainability reporting and data transparency,” Thomas concludes.

These findings are from ABI Research’s Digital Product Passports: Tech-Driven Sustainability and Traceability for EV Batteries, Construction Materials and Pilot Use Cases.

Interest rate cuts to create energy transition investment ‘megatrend’?

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The energy transition could be one of the investment megatrends this year and beyond as interest rates are likely to be cut, says the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The comments from deVere Group’s Nigel Green come as central banks around the world continue to hold rates steady for the time being, but with growing expectations that they will begin to cut them in the first half of this year.

He says: “Investing in renewable energy infrastructure, such as utility-scale solar and wind farms, demands significant upfront capital.

“As such when interest rates are high, the return on investment for these projects can be adversely affected, leading developers to hesitate and potentially put new projects on the back burner.

“Beyond the large transitional projects, the industrial sphere has been delving into alternatives to traditional fuels with lower carbon footprints, such as the amalgamation of hydrogen with natural gas. This strategic shift is motivated by a dual concern for both environmental preservation and economic viability.

“However, in times marked by elevated borrowing costs, the emphasis tends to pivot more towards economic considerations, potentially impeding the pace of investments in environmentally-friendly technologies.

“Likewise, the transport sector, poised for advancements in electric vehicles (EVs), hydrogen-powered vehicles, biodiesel, and compressed natural gas, has encountered difficulties in rationalising new projects amid heightened interest rates.”

In addition, escalating interest rates have placed added strain on consumers. The allure of embracing electric vehicles or delving into residential solar investments dwindles in the face of elevated borrowing expenses.

“For consumers, the financial repercussions of these choices become more conspicuous, potentially influencing the pace at which sustainable technologies are embraced.”

Despite the obstacles encountered, a positive outlook persists for the transition towards sustainable energy. “The enduring validity of the long-term investment perspective is underscored, with companies maintaining their dedication to environmental objectives, and governments worldwide offering financial backing to facilitate the transition,” notes Nigel Green.

Looking ahead to the rest of 2024 and beyond, the narrative is likely to shift.

The deVere CEO concludes: “The energy transition has been hit by high interest rates and inflation.

“But now the stage appears to be set for an upward trajectory in energy transition investments.

“This, together with global commitments to environmental sustainability intensifying, 2024 could see the start of an energy transition investment megatrend.”

RENEWABLE ENERGY MONTH: How storage and the smart grid will take us forward

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In the UK, the push towards sustainability and the reduction of carbon emissions has placed renewable energy technology at the forefront of strategic planning for Energy Managers in both the public and private sectors. The adoption of renewable energy not only aligns with environmental goals, but also offers economic and operational benefits. Here’s a look at the current applications of renewable energy technology by Energy Managers and how its usage is anticipated to evolve…

Current Applications

Solar Power: Solar panels are one of the most visible signs of renewable energy adoption. Energy Managers are increasingly deploying solar photovoltaic (PV) systems on buildings and unused land to generate electricity. This not only reduces reliance on grid electricity but also lowers energy costs over time.

Wind Energy: While large-scale wind farms are more commonly associated with national energy grids, some organisations have started to explore small-scale wind turbines as a means of generating onsite renewable energy. This is particularly applicable in rural or exposed locations with consistent wind speeds.

Biomass Energy: The use of biomass boilers and heaters, fuelled by wood chips, pellets, or agricultural waste, is another area of focus. These systems provide a sustainable heating solution, significantly reducing carbon emissions compared to traditional fossil fuels.

Heat Pumps: Ground-source and air-source heat pumps are gaining traction as efficient methods to heat and cool buildings. By extracting heat from the air or ground, these systems use minimal electricity and can significantly reduce energy bills and carbon footprints.

How Usage is Likely to Evolve

Integration with Smart Grids: The future of renewable energy in the UK is closely tied to the development of smart grids. These advanced energy networks can intelligently manage the distribution of electricity, incorporating renewable energy sources more effectively. Energy Managers will play a key role in integrating their organisations’ renewable energy systems with smart grids to optimise energy usage and contribute to grid stability.

Energy Storage Solutions: As the adoption of renewable energy grows, so does the need for effective energy storage solutions. Technologies like battery storage systems are set to become more prevalent, allowing Energy Managers to store excess energy generated during peak production times for use when production is lower. This not only ensures a consistent energy supply but also maximises the financial benefits of renewable installations.

Innovative Renewable Technologies: The continuous innovation in renewable energy technologies presents new opportunities for Energy Managers. Emerging technologies, such as floating solar panels and tidal energy, could offer novel ways to generate renewable energy in space-constrained environments or coastal areas.

Increased Focus on Decentralisation: The trend towards decentralised energy systems, where energy generation and consumption occur closer together, is expected to grow. This shift will see Energy Managers playing a pivotal role in developing localised energy solutions that reduce transmission losses and enhance energy security.

Renewable energy technology is set to remain a key focus for Energy Managers in the UK’s public and private sectors. With advancements in technology and the evolving energy landscape, the applications of renewable energy are expected to become more integrated, efficient, and innovative, driving forward the UK’s commitment to a sustainable and low-carbon future.

Are you searching for Renewable Energy solutions for your organisation? The Energy Management Summit can help!

Photo by Thomas Richter on Unsplash

Energy Management Summit 2024: Secure your place in London this autumn

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The delegate registration process for the Energy Management Summit is now open for all industry buyers, with two days of supplier meetings, networking and seminars awaiting you.

The Energy Management Summit is a unique event specifically designed for senior professionals like you within the industry!

October 8th & 9th, 2024

Radisson Hotel & Conference Centre – London Heathrow

You can attend this two-day event entirely for FREE.

BOOK YOUR PLACE HERE

ENERGY MANAGEMENT SYSTEMS MONTH: Key supplier considerations for public and private organisations

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Energy management systems (EMS) play a crucial role in achieving efficiency, sustainability, and cost-reduction goals in the contemporary landscape of the UK’s public and private sectors. For Energy Managers tasked with selecting the best EMS for their organisations, the decision can be complex and multifaceted. Here are some top tips to guide this important decision-making process, informed by input from attendees at the Energy Management Summit…

  1. Assess Organisational Needs and Goals: Begin by conducting a comprehensive assessment of your organisation’s energy usage and needs. Consider factors like the size and type of facilities, existing energy systems, and specific energy goals, whether it’s reducing carbon footprint, complying with regulations, or cutting costs. Understanding these needs will help you identify an EMS that aligns with your organisational objectives.
  2. Look for Scalability and Flexibility: The ideal EMS should be scalable and flexible to adapt to your organisation’s evolving needs. Whether it’s expanding facilities, updating systems, or changing energy goals, your chosen EMS should be able to accommodate these changes without requiring a complete overhaul.
  3. Prioritise Data Accuracy and Real-Time Monitoring: An effective EMS should offer accurate data collection and real-time monitoring capabilities. This feature is crucial for identifying energy consumption patterns, inefficiencies, and areas for improvement. The more precise the data, the more effectively you can implement energy-saving strategies.
  4. Ensure Integration Capabilities: The EMS should integrate seamlessly with existing systems in your organisation, such as HVAC, lighting, and renewable energy sources. This integration is key to managing all aspects of your energy infrastructure cohesively.
  5. Evaluate User-Friendliness and Training Support: Choose a system that is user-friendly and offers comprehensive training and support. A user-friendly interface ensures that staff across your organisation can effectively engage with the system, while good training support aids in maximising the system’s potential.
  6. Consider Advanced Features and Analytics: Advanced features like predictive analytics, AI, and machine learning can significantly enhance the functionality of an EMS. These technologies enable proactive energy management by predicting future patterns and suggesting optimisation strategies.
  7. Review Compliance and Reporting Capabilities: Ensure the EMS complies with relevant UK energy regulations and can generate reports for compliance purposes. Reporting capabilities are also important for internal tracking and for communicating progress to stakeholders.
  8. Assess Cost and ROI: While cost is an important consideration, focus on the potential return on investment (ROI). A more expensive system might offer greater long-term savings through higher efficiency and more sophisticated features.
  9. Seek Feedback and Conduct Pilot Testing: Before finalising your decision, seek feedback from peers in the industry and consider conducting a pilot test. This approach can provide insights into the system’s practicality and effectiveness in a real-world setting.
  10. Plan for Future Energy Trends: Lastly, consider future energy trends and how they might affect your needs. Your chosen EMS should be adaptable to future advancements in energy technology and shifting regulatory landscapes.

In summary, selecting the best energy management system for an organisation in the UK’s public or private sectors requires careful consideration of organisational needs, scalability, data accuracy, integration, user-friendliness, advanced features, compliance, cost-effectiveness, peer feedback, and future adaptability. With these factors in mind, Energy Managers can choose an EMS that not only meets current needs but also positions the organisation well for future challenges and opportunities in energy management.

Are you searching for Energy Management Solutions for your organisation? The Energy Management Summit can help!

Photo by Alessandro Bianchi on Unsplash

New global alliance seeks to propel clean energy in emerging economies

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The World Economic Forum has launched of a new alliance to provide a platform for developing economies to raise awareness about their clean energy needs, share best practices and sustainably accelerate their energy transitions.

The Network to Mobilize Clean Energy Investment for the Global South is made up of 20+ CEOs and government ministers, including from across Colombia, Egypt, India, Japan, Malaysia, Morocco, Namibia, Nigeria, Norway, Kenya and South Africa. The network will provide a collaborative space for its members to accelerate clean energy capital solutions in emerging market contexts – through innovative policies, new business models, de-risking tools and finance mechanisms – and exchange best practices for attracting sustainable flows of clean energy capital.

“Accelerating the clean energy transition is imperative to address the climate emergency, but current investment levels remain far below the scale and pace of change needed,” said Roberto Bocca, Head of the World Economic Forum’s Centre for Energy and Materials. “Unlocking this financing today is not only a key first step towards a secure and equitable energy system tomorrow, but represents a clear opportunity for businesses, as emerging economies account for the lion’s share of the global population.”

The Forum also released a new Forum report today, Building Trust through an Equitable and Inclusive Energy Transition, that outlines a framework to guide policy-makers and business leaders from the energy sector towards a just, equitable and inclusive energy transition, particularly in developing economies, which account for less than one-fifth of global clean energy investments. Its findings make clear that neglecting equity, justice and inclusivity could severely delay the transition, making it crucial to address these aspects holistically at all levels – local, national and global.

The overall annual investment in clean energy in the Global South needs to triple from $770 billion currently to $2.2-2.8 trillion by the early 2030s. While recent spending has increased, the report finds that it remains concentrated in a few countries and sectors, with over 90% of investment growth having occurred in advanced economies and China since 2021.

The network will be chaired by two global leaders, working closely with the World Economic Forum to shape its activities: Rania A. Al-Mashat, Minister of International Cooperation of Egypt, and Samaila Zubairu, President and Chief Executive Officer of the Africa Finance Corporation.

“The network will play a crucial role in bringing together public and private players to pinpoint investment needs, breaking down barriers, and unlocking practical solutions for a just, equitable and sustainable energy transition in the Global South,” said Al-Mashat. “This will be a new space for emerging economies to exchange best practices and lessons learned, and foster collaboration around value chain strategies, regulatory policies, and investment mechanisms. These issues and more are addressed elaborately in the “Sharm El-Sheikh Guidebook for Just financing”, launched during COP27 by the Egyptian Ministry of International Cooperation, with 100+ partners, which also introduces for the first time a definition for just financing.”

As well as galvanizing efforts around the energy transition, the new network highlights the growing importance and untapped potential of emerging nations to the global economy. Seizing these opportunities presents a dual opportunity, as it could help mitigate risks in emerging markets while also ensuring sustainable growth and positive societal impacts.

“The perception of high risk has deterred investments in emerging markets, particularly in Africa, over the years; yet, from where I sit, there is no shortage of de-risking instruments and bankable projects that not only deliver profitable returns but also accelerate development impact,” said Zubairu. “Mobilizing investment for the energy transition is now more urgent. It is time for us to shift the narrative surrounding the financing of clean energy in the Global South from an aid case to a viable investment opportunity, without which we will not reach global net zero.”

The network will also be critical in enabling clean energy finance and investment at the local level. In this context, a Colombia-focused workstream was announced today. The initiative will convene a multistakeholder working group focused on increasing capital for Colombia’s energy transition.

Photo by Andreas Gücklhorn on Unsplash