Meanwhile, the momentum behind hydrogen is also growing, explains John. “Through hydrogen, there is clear potential to decarbonise more of the world’s industry, heavy transport, aviation, shipping and energy storage, and we have been involved in several pioneering opportunities around the world. Given recent developments, including the creation of the International Hydrogen Trade Forum, which has strong representation from the Middle East, a global consensus is now emerging on critical considerations like trade and standards. Significant investments in infrastructure are starting to feel like an inevitability, which would play well to our skillset and experience.
At the same time, there is a burgeoning late-life asset management and decommissioning business, with us securing a series of prestigious projects as far afield as Australia, the Gulf of Mexico, and the North Sea. “As the energy transition gathers pace, this market will only get bigger,” says John.
With the energy industry in an upcycle, our series of recent new contract awards and a busy bidding pipeline, both executives are excited by the future and believe there are untold opportunities across the sector. “Decarbonising existing infrastructure is a big job. However, creating a new generation of energy assets is an even bigger one. With a wealth of relevant skills, the existing energy businesses are best placed to do that job. And those countries with an established energy mindset are best placed to support them,” concludes Elie.