SUT Aberdeen Branch Business Breakfast – The Changing Times of the Energy Sector

April 20, 2021
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Date/Time
Date(s) - April 20, 2021
7:30 am - 9:30 am

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The SUT (Society for Underwater Technology) are pleased to announce their annual Business Breakfast, a webinar on Tuesday 20th of April between 07:30 hrs and 09:30 hrs (UK time). Please register on the SUT website here.

The energy sector remains one of the most economically important sectors of the UK economy and is changing rapidly before our eyes to achieve the long-term objectives of net-zero. What are the immediate impacts and can we discern the potential medium and long-term effects ? We should see the light at the end of the tunnel, not as a train coming towards us, but as a new future of opportunity for the subsea sector. The three speakers will help show the way in this annual outlook.

Mike Beveridge, Simmons & Partners – A New Journey Begins:

Co head of International Energy and Power Infrastructure at Simmons Energy – a division of Piper Sandler, will take a look back at the last 12 months, and a look forward into the future, to discuss the overall energy macro, capital market sentiment, company valuation frameworks and M and A activity, trends and themes.

Henning Bjovik, Rystad Energy – The Subsea Market – how to navigate a changing landscape:

After a Covid-19 imposed downturn in 2020, the subsea market finds itself in a new trough, just four years after the previous one. This itself creates many challenges, and at the same time, as the market starts to recover, we are facing a changing landscape. The downturn has accelerated the upstream industry’s shift towards lower-carbon business strategies, with operators setting ambitious targets and making significant commitments in the renewables space, as well as increasing the focus on reducing carbon intensity for oil and gas assets. But not only is the energy transition upon us, in the current environment, with a big focus on low breakeven price, cost-effective production and short payback time, operators take a hard look at their portfolios. We have already seen numerous examples of projects going back to the drawing board – just to be scaled down and phased. Is the end of subsea mega projects fast approaching? We take a closer look at how the market dynamics are shifting, how the future subsea market might look like, how fiscal policies are affecting the subsea market, the importance of strategic decisions, and last but not least how technology will play a key role going forward.

Martyn Tulloch, OGTC – A Net Zero North Sea – the changes, the opportunity and the technology:

The UK offshore energy sector has reached a pivotal moment, a watershed in our industrial history. A reimagined North Sea, an integrated net zero energy system, will be essential if the UK is to meet its Paris Agreement commitments. This presentation will outline why the experience and expertise forged over the last 50 years must be used in partnership with transformational low-carbon technologies to meet the challenges and grasp the opportunities presented by the UK’s commitment to net zero.

Get in touch

AREG is the original energy transition organisation, working on behalf of members to empower the energy supply chain and champion its expertise. Please get in touch if you have any questions or would like to find out more about membership.

Contact Us
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AREG has played an important role in the growth of Scotland’s renewable energy sector, engaging the supply chain and developing the European Offshore Wind Deployment Centre. However, we are only at the very beginning of the transition that AREG was established to both lead and support so there are still opportunities for companies to get into the constantly evolving renewables supply chain. We look forward to continuing our work together as renewables builds on its place as Scotland’s main source of power, and as we seek to deliver real change in the crucial areas of heat and transport.

Scottish Renewables
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Aberdeen & Grampian Chamber of Commerce has worked closely with AREG since its formation. The recent progress in the developments of offshore wind projects by Equinor and Vattenfall are as a result of the work of the group over many years. The north-east is known as the oil and gas capital of Europe. At the Chamber, we believe the region must evolve its position to being recognised as the energy capital. Whilst hydrocarbons will continue to be essential in driving our economy for years to come, the generation of renewable resources will play an increasingly important role in providing cost-effective power, innovative development and economic growth.

Aberdeen & Grampian Chamber of Commerce
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The enthusiasm and dedication of the early group that would become AREG was fundamental in us choosing to launch All-Energy in Aberdeen. The first tiny show was held in 2001, and AREG’s Chairman at the time, Jeremy Cresswell, played such an active role that I often describe him in terms such as All-Energy’s ‘midwife’. All-Energy is now the UK’s largest renewable and low carbon energy exhibition and conference in terms of number of attendees, space booked, and number of exhibiting companies. As AREG became firmly established, their presence and support for the event grew spectacularly over the years. We thank them most sincerely for their invaluable input.

All-Energy
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Vattenfall has forged a strong working relationship with AREG through the development of the European Offshore Wind Deployment Centre. AREG has worked tirelessly on behalf of the North East and it can take enormous credit for the growth of sustainable energy in the region and the path it has cleared for the region to capture further investment.

Vattenfall
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Aberdeen City and Shire is emerging as a key location for renewables by successfully transferring its world-class oil and gas expertise into the sector and AREG has done much to advance this through a broad range of initiatives. It has acted as a catalyst in driving further investment in the local economy by engaging with companies, Government, public bodies and existing projects and we have been pleased to support their efforts. Scottish Enterprise will continue to engage with AREG as we increase Scotland’s use of renewable energy.

Scottish Enterprise