$60.7B: Total Offshore Wind Spend
New research released by energy business analysts Douglas-Westwood reveals the world offshore wind market will see expenditure of $60.7B over the next five years. By 2015, annual expenditure will be in excess of $19B. With over 3GW of capacity online by the end of 2010 and a further 2GW under construction at present, the offshore wind industry is growing extremely quickly. Over the five year period to 2015, more than 11GW of new capacity will be installed. The UK, Germany and China are the three biggest markets, which together will install almost 9.3GW, or 83%, of total global capacity for the period. The UK will continue its position as the leading market for offshore wind through the next five years with over 4.4GW of new capacity coming online.
$54.1b to be Invested in Offshore Wind, 2011-2015
New research released by energy business analysts Douglas-Westwood reveals the world offshore wind market will see expenditure of $54.1b over the next five years. By 2015, annual expenditure will be in excess of $17.1b. With over 3GW of capacity online by the end of 2010 and a further 2GW under construction at present, the offshore wind industry is growing extremely quickly. Over the five year period to 2015, more than 11GW of new capacity will be installed. The UK, Germany and China are the three biggest markets, which together will install almost 9.3GW, or 83%, of total global capacity for the period. The UK will continue its position as the leading market for offshore wind through the next five years with over 4.4GW of new capacity coming online.
Norway Targets $2t Int’l Oil & Gas Spend
Analysis of 19 target countries and 26 key onshore and offshore market sectors, ranging from land drilling equipment to offshore operations, has revealed that overall expenditure levels are expected to total $2t over the 2009-2013 period. These are amongst the key findings of a new report commissioned by Norwegian oil & gas partners INTSOK from energy business analysts Douglas-Westwood. Addressing over 300 delegates at INTSOK’s 8th annual International Business Days conference in Oslo, Douglas-Westwood Chairman, John Westwood, outlined his views on the current market turmoil, the prospects for recovery and the expected outcomes in terms of future industry expenditure.
World FLNG Market Report 2009-2015
The Floating Liquefied Natural Gas (FLNG) business is now rapidly developing into a sector of major significance and will be worth $8.5b by 2015, according to a new study published by energy business analysts Douglas-Westwood. The World FLNG Market Report 2009-2015 considers the market for both floating liquefaction and regasification and identifies the desire to monetize stranded gas deposits. Escalating construction costs and high local opposition to onshore LNG facilities coupled with geopolitical issues are the key drivers of the sector at present. Announcing the new study at the recent Global Floating Production Systems Conference…
Skills Shortages Could Scupper UK Energy Plans
Surging demand for energy, an aging workforce and a lack of new entrants to the industry is combining to threaten delivery of the energy strategies of countries worldwide. Addressing delegates at the ‘People: The Real Energy in Oil & Gas’ conference in London, John Westwood, MD of energy business analysts Douglas-Westwood, cited the UK as likely to have particular problems with delivery of its power station replacement and renewable energy plans. “We are seeing an unprecedented demand for energy, driven by China in particular, at the same time as production of oil & gas is reducing in non-OPEC areas such as the UK North Sea. The result is oil prices at record levels and a surge in exploration & production activity, particularly in the Middle East.
