The global offshore wind market continued to grow rapidly during 2018, hitting over 18GW of capacity by the end of the year and shows no signs of slowing down, with estimates that it will reach 115GW by 2030 and 200GW by 2040.

This report looks at the developments taking place in the fast maturing European market, the upcoming US market and the emerging and potentially very lucrative Asia Pacific market.

Technological developments such as increased turbine sizes and increased efficiency are bringing costs down, while a floating offshore wind project pipeline is developing making previously difficult areas accessible to the sector and offering diversification opportunities for oil and gas contractors.

The energy industry is the largest pillar in the Malaysian economy, contributing about 20% to the country’s total GDP and presenting the strongest opportunity for economic growth.

Read this report to:

• Explore the state of the country’s energy industry, identifying the major current and future projects across all sectors including O&M activities
• Get a detailed overview of local companies, highlighting their capabilities and experience with links to their procurement portals also included
• Assess the impact of political, economic and social factors in Malaysia

More information about the report can be found in the executive summary. EIC members can download the full report by using the button below.

Survive and Thrive 2019 (Volume III) charts the course that 25 EIC UK member companies have taken to grow against a backdrop of a cautious oil and gas market recovery with tight margins, fierce competition and Brexit uncertainty.

We revisit eight growth strategies identified in previous reports to see if the use of these has risen or fall, as well as putting the spotlight on three areas of vital importance to the UK industry: Brexit, export and scale-up.

Topics covered in this report include:

• The appetite for UK companies exporting into new regions
• The rise of service and solutions
• Digital is coming to life while diversification slows

More information about the report can be found in the executive summary.

The Kingdom of Saudi Arabia has the second largest proved reserves of oil in the world and produced on average 11.9 million barrels per day.

As it continues to invest heavily in its oil and gas industry, the Kingdom is undergoing a political, economic and social transformation under its Vision 2030 reform programme.

This includes a highly ambitious renewable programme and diversification of its power generation mix.

Download this in-depth Country Report to learn about the state of play in each energy sector, the major operators and contractors and more!

More information about the report can be found in the executive summary. EIC members can download the full report by using the button below.

Carbon capture is among the technologies at the forefront of ambitions to tackle CO2 emissions resulting from the oil and gas sector.

In recent years, CCUS has emerged as a more viable concept and deployable option to just CCS, changing the view of CO2 from a waste product into a raw material.

A substantial number of projects are preparing to move forward over the next decade, from concept and planning into construction and operation.

This report will provide a detailed overview of the processes and technologies across the carbon capture sector, leading projects and developments, as well as the supply opportunities in the UK and globally.

According to the International Energy Agency (IEA), the fuel which had the biggest gain was natural gas, which accounted for 45% of growth in energy consumption.

This insight report focuses on the role Liquefied Natural Gas (LNG) currently plays globally and its prospects.

This report investigates the key markets and the possible developments envisaged in various locations in the years to come.

In the last few years, the Energy from Waste (EfW) market has gained momentum and is demonstrating its importance in decarbonising the energy landscape.

This report offers a detailed analysis of the industry alongside ongoing projects in the UK and in other global markets, including the key political and financial incentives behind the market's growth.

With sector capacity set to double over the next decade, this report will also dissect the range of supply chain and diversification opportunities generated by this increase.

The offshore wind sector's global expansion trend continued throughout 2019, bringing overall operational capacity to over 28GW.

Key markets such as the UK, China, Germany, the Netherlands and Taiwan further strengthened their positions as project pipelines were expanded and ongoing developments progressed with construction.

The sector is expected to see strong growth throughout the next few decades, not only in existing 'mature' markets, but equally in emerging ones.

Over the last 3 years, the UK has commissioned more than 10GW of renewable energy in Biomass, Energy from Waste, Solar and Wind (onshore and offshore) collectively.

This injection of capacity commissioned to the grid, 4.5GW of which specifically came from Offshore Wind, has taken the overall capacity generated in the UK to 43GW.

This report is our first to use data exclusively from our O&M database, EICAssetMap, to analyse this growth and predict where the UK renewables sector might go in the years to come.

Despite Covid-19 impacting activity in the oil and gas sector, globally the cost of decommissioning is still expected to be worth around USD$200 billion over the next 20 years, with around 49% expected to be spent on well plug and abandonment alone.

While the UK is still expected to be the largest market for decommissioning in Europe, future regions of opportunity are: the Middle East, APAC (in particular Australia, Brunei, Malaysia, Thailand, Indonesia) and Latin America (Brazil).

Each of these regions has its own unique challenges, however several countries have begun to seriously think about the development of their roadmaps for decommissioning including India, Malaysia, Brunei, and Brazil.

Survive and Thrive 2020 (Volume IV) charts the course that 40 EIC member companies have taken to grow against a backdrop of continued market uncertainty, UK China trade tensions, OPEC disagreements, low or negative oil and gas prices and COVID-19, compounded by very tight margins, fierce competition, and Brexit looming large.

This year we revisit the same eight growth strategies identified in previous years and plot those that have risen and fallen in popularity. The research revealed three further areas that business leaders have found to be key to growth, and hence are included this year for the first time, namely transformation, culture and energy transition.

EIC members can download the full report by using the button below.

Mexico's modern and complex democratic economy presents several challenges when doing business in the country.

Nevertheless, Mexico has attracted significant foreign direct investment in the last five years, as investors have sought to take advantage of the convertible currency, low taxation and labor costs, and duty-free access to the US and Canadian markets.

International companies have significant market opportunities to participate in major projects, sub-contracts, and sales with government, the indigenous supply chain, and international players across Mexico's energy sectors.

More information about the report can be found in the executive summary. EIC members can download the full report by using the button below.

The use of new technologies in the downstream sector will create optimisation, decarbonisation, cost savings, job opportunities and asset management.

Growing demand for petrochemicals amid slowing oil demand, climate change and sustainability, and diversification away from oil and gas are all key drivers for disruption in the downstream sector.

New technologies to consider include carbon capture and storage (CCS), hydrogen, waste to fuel, renewable power to liquid (E-fuel), crude oil to chemicals and digital technologies.

The energy storage market has a crucial role to play in the transition to a net-zero carbon emission future, as evidenced by the current projected growth trends across different technologies and markets as well as the ongoing debates on flexibility in energy systems.

The EIC Insight Report on Energy Storage offers a high-level overview of some of these key technologies securing interest and attention from the industry.

The energy storage market has a crucial role to play in the transition to a net-zero carbon emission future, as evidenced by the current projected growth trends across different technologies and markets as well as the ongoing debates on flexibility in energy systems.

The EIC Insight Report on Energy Storage offers a high-level overview of some of these key technologies securing interest and attention from the industry.

The last 12 months have seen significant disruption to the global pipeline of renewable energy projects with COVID-19 restrictions and market uncertainty playing a role.

This report uses data from EICAssetMap, the EIC's OPEX map-based database of operational assets across the world to analyse the newly installed capacity in 2020 in the UK.

Find out about the latest developments in offshore and onshore wind, solar, energy from waste, biomass and power in this free report for EIC members.

Guyana has propelled onto the world energy stage in recent years after significant ExxonMobil discoveries revealed more than 8 billion barrels of proven oil reserves, potentially surpassing the reserves of Mexico and Colombia combined.

Oil production at the Liza field began in 2019 producing 120,000bbl/d by 2020, with further phases of the project sanctioned and due to be sanctioned soon.

Find out more about the state of play in the country's oil and gas, power and renewables sectors, as well as information on who the major players are in each sector and advice on doing business in the country.

With 92.5MMbbl of proven oil reserves and 17.1MMbbl of probable reserves and huge potential in the Guyana-Suriname basin, Suriname has become one of the most sought-after oil & gas export markets.

Leading IOCs including ExxonMobil, Tullow Oil, Petronas, Apache and Equinor are developing blocks at pace to capitalise on newly discovered reserves, with significant opportunities available throughout the energy supply chain.

Find out more about the state of play in the country's oil and gas, power and renewables sectors, as well as information on who the major players are in each sector and advice on doing business in the country.

Operational offshore wind capacity surpassed 30GW in 2020, with over 5GW added throughout the year in what represents yet another industry record.

While the UK continues to retain its status as global leader in offshore wind, China is closing the gap, having surpassed the 7GW mark for operational capacity in 2020.

The Chinese project pipeline of over 56GW currently being tracked in the EICDataStream project database can almost be described as a league of its own and is expected to provide the country with a leadership position in the first half of this decade.

Now in its 5th year, the highly-acclaimed EIC Survive and Thrive Insight Report surveyed more than 60 energy supply chain businesses and confirmed that, for the second year running, the most popular growth strategy in challenging markets was to move away from oil & gas and into other areas in order to ‘survive’.

With governments on a global scale pursuing net-zero policies, but little being done to help the energy sector to diversify into green energy markets, the report also once again showed three-quarters of companies that diversified preferred to move out of energy completely.

Read the inspiring case studies of all 61 participating EIC member companies and learn about the growth strategies used to survive and thrive in the challenging market conditions of 2020. Key findings and outcomes for industry and government can be found in the report, with a focus on how to increase exports, while also capitalising on the opportunities within the energy transition.

We also deep dive on key topics and issues from the past 12 months in detail, including if COVID-19 was a catalyst for permanent change in the energy sector; that resilience is the name of the game for supply chain companies, what does energy transition mean; and the truth behind diversification when it comes to organisations' core business.

Over the last two years the energy industry has had to adapt the way we work to stay safe whilst still trying to progress the UK energy industry.

While significant additions have been made, the report highlights the amount of new generating capacity added to the grid in 2021 has reduced from 2020 levels.

606MW has been added across 16 projects in 2021 in the biomass, energy-from-waste, offshore wind, onshore wind and solar sectors, with 7.8GW expected to come online in 2022.

Despite this, the UK to meet targets for clean energy, the 2021 additions are indeed disappointing, however the outlook for new capacity additions is positive for the coming years and the opportunities are highlighted in the report.

Vietnam, with its population of 99 million, is experiencing GDP growth higher than neighbouring Indonesia and Malaysia and is also placed above the UK and global average.

The country has the largest proven oil reserves in Southeast Asia, standing at 4.4 billion bbl and its oil production in 2019 is estimated at 207,000 barrels per day, putting it fourth in the ASEAN region.

In 2020, Vietnam renewable energy consists nearly 10 per cent out of total energy mix. By 2030, it aims to further increase it to 20 per cent representing an attractive export market for green energy firms.

Download the latest EIC Country Report to learn more about the energy landscape in Vietnam, who the major players are, PEST analysis, and advice on doing business in the country.

Europe has emerged as a global leader in the transition to renewable sources of energy and has made great progress in bringing online renewable assets to replace facilities that emit greenhouse gases.

At the forefront of Europe’s transition to renewables are the targets which have been set by the EU in its latest Green Deal, including a 55% reduction in greenhouse gases by 2030 and 100% clean power by 2035.

Download the latest EIC Insight Report to find out more about the total installed renewables capacity added in Europe in 2021 and what's next for this exciting market.

Over the last five years, Brazil has commissioned slightly under 19GW of renewable energy in Hydropower, Onshore Wind, Solar and Biomass/EFW collectively.

This new additional capacity commissioned to the grid, 10.4GW of which came specifically from Onshore Wind, has taken Brazil’s global capacity to 174.6GW (including renewable, thermal and nuclear plants).

If you exclude the figures for hydropower installations, Brazil’s predominant energy source with over 105GW installed, 40.3GW remain from other renewable sectors added together.

Download the latest EIC Insight Report to learn more about this exciting market and find out more about the emerging renewables opportunities in Brazil.

Development for renewable energy in the Middle East region has been slow over the last 12 months.

Due to the global pandemic outbreak, governments across the Middle East have imposed various rules and guidelines for working at construction sites, such as social distancing to keep employees safe and imposed travel bans into their respective countries.

This results in delays in achieving project completion across all energy sectors in the Middle East.

Much has happened in the Brazilian energy sector since the release of the first country report in 2018. Industry players have become more varied, stalled projects have resumed and new sectors are attracting investment.

The country’s pre-salt region is now firmly consolidated as the prime business source for the oil and gas supply chain, while onshore wind and solar projects have fully scaled up.

Meanwhile, multi-billion dollar proposals for offshore wind and green hydrogen projects across the country unlock new business opportunities.

The Liquefied Natural Gas (LNG)/Gas industry is currently undergoing a seismic shift as countries around the world progressively adopt net-zero (NZE) targets to regulate carbon emissions, with the aim of developing cleaner energy systems to fulfill Paris Climate Agreement goals. Alongside this, the emergence of the COVID-19 pandemic in early 2020 negatively impacted global markets.

To understand how natural gas and LNG will position itself in a post-pandemic world, this Insight Report will focus on both the current role that the sector plays globally, and its future potential in aiding the Energy Transition.

The report will detail liquefaction and regasification processes including trade flows between countries and utilisation rates, discuss challenges and opportunities for improvements within the sector, and display information around regional markets including imports and exports.

The 6th edition of our Survive & Thrive report provides insights on the state of the energy industry based on extensive interviews with the leaders and senior executives of 63 energy supply chain companies from around the world.

The report shows that following a heavy focus on diversification and energy transition over the previous two years, including a drive for renewables, energy companies are now shifting gears in 2022 back to investment in oil and gas.

This is in response to recent geopolitical events resulting from the war on Ukraine as well as challenges with delayed energy transition projects and attractive higher margins from more lucrative oil and gas projects which are in growth mode around the world on the back of sustained higher oil and gas prices.

Read the full report for free and find out more about how our members continue to thrive, innovate, grow, and share their expertise and lessons in a constantly changing market.

A lot has changed in Mozambique’s energy space since the first country report was published in 2017. Half a decade later, more players have entered the market, projects have been sanctioned, and new sectors are attracting investments.

The country continues to progress with the LNG developments despite the challenges that exist, while also actively exploring its renewables potential in large scale. From its substantial offshore gas reserves to its burgeoning renewables sector, Mozambique is poised to become a nation to watch in 2022 and beyond.

Realising these potentials is critical to ensuring an economic recovery post-COVID-19 and establishing Mozambique as a LNG powerhouse and renewables competitor.

Download this in-depth country report to learn how all eyes are now on Mozambique’s developments which could position the country among the major LNG exporters during 2022.

The Association of South-East Asian Nations (ASEAN) is a regional organisation promoting greater cooperation between countries in South-East Asia across several policy areas. Since its creation in August 1967, ASEAN has expanded its membership and overseen the strategic integration of its member states.

Today it consists of ten countries, including: Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. Collectively, these countries are on track to become the fourth largest economy by 2030, with a rapidly growing population of around 650 million people and one of the largest middle classes in the world.

Find out about the latest developments in the ASEAN offshore and onshore wind, solar, hydropower, biomass, biofuel, energy from waste, energy storage, hydrogen, power and oil and gas in this free report for EIC members.

In 2021, the UAE is ranked fifth for proven oil reserves globally, and fourth in the Middle East, with 111 billion oil reserves. It also ranked seventh in the world for proved gas reserves, with 8.2 trillion cubic metres (Tcm). Some of the newly discovered fields are offshore Block 2 concession, onshore Block 3 concession and onshore Block 4 concession.

The country’s 2021 oil production capacity is 3.668 million b/d. ADNOC has also planned to boost its oil production capacity from 4 million b/d to 5 million b/d by 2030 but has recently moved the target ahead to 2025.

Learn more about the state of play in the UAE's oil and gas, power and renewables sectors, as well as information on who the key players are in each sector and advice on doing business in the country.

Driven by the need to meet climate ambitions, and more recently strengthen energy security, there has been a global momentum to develop a clean hydrogen economy. The global project pipeline currently holds more than 400 hydrogen production projects that could see an investment of more than USD$400 billion should all proceed, with green hydrogen projects constituting more than 85% of the global pipeline.

However, due to the embryonic nature of the sector, it is hard to picture the opportunities present within the sector. Now is the time for supply chain companies to identify supply chain gaps, where hydrogen is concerned, and analyse where their products and services could fit or how they can expand their range of services to penetrate the sector.

The report offers comprehensive insights into the key regional markets underpinning the development of a global hydrogen economy as well as highlight the potential opportunities for energy supply chain companies.

In the global effort to reduce emissions in the atmosphere, carbon capture, utilisation and storage (CCUS) has been called to arms to aid the energy transition. The wonders of carbon capture lie in its applicability across all emitting industries and the harmonies the technology has to oil and gas infrastructure and expertise. What is required next for the sector is wide-spread scalability. With over 200 carbon capture developments announced worldwide since 2020, the renewed momentum for the industry is undeniable.

There is still some uncertainty lingering around the carbon capture market, with its chequered history and the effectiveness of technology in mitigating climate concerns being called into question. However, the market has been developing since the 90s and offers up proven expertise and R&D efforts to demonstrate it as a viable technology to decarbonise hard to abate sectors.

This report will look at the strengths and needs of the supply chain. Key regions will be explored and the policies in place to support the growing carbon capture market. EIC’s supply chain analyst, Christopher Shirley, and his team undertook a supply chain mapping exercise for the UK of which the results are shared within this document.

EICAssetMap added a completed Americas package to the database in January 2023, completing global coverage excluding Russia, China, and North Korea. Now that we have this coverage, a total of more than 40,000 assets across 130 countries, we are able to provide a further in-depth look at global trends.

The report highlights a total of 14.3GW added in the North Sea since January 2018 across 31 new Offshore Wind farms. Also, the largest capacity addition by asset type in 2022 came from Solar, with 159 projects online in 2022- adding 25.7GW to the grid. In the North Sea, 20 upstream developments were commissioned in 2022 across the Norwegian Continental Shelf and the Southern North Sea.

Discover the latest insights and expert analysis by reading the full report and finding out more about the global trends in the energy industry across all sectors.

With a global effort to pursue net zero emissions, clean energy capacity is growing as an increasing number of countries begin to adopt renewable energy, with solar PV being a popular technology type of choice. Over 30% of utility scale renewable projects – inclusive of onshore wind, offshore wind, solar CSP and hydroelectricity – that have come into operation between 2013 and 2023 are solar PV projects, accounting for an estimated total capacity of over 154GW of global utility scale PV capacity, according to EICDataStream and EICAssetMap.

Countries across the globe are increasingly committing to net zero targets and many private sector companies aiming for environmental, social, and governance (ESG) targets, which has also contributed to solar PV adoption. The technology itself has proven to be versatile and can be deployed in various environments, be it rooftop, floating or ground- mounted enabling power generation in rural areas too.

In this report, insights on key regional markets as well as leading operator and contractor trends will be explored, highlighting the significant growth of the sector.

Unprecedented geopolitical and economic events in 2022 have produced turmoil and uncertainty in the UK energy markets over the past year. These factors have also revealed vulnerabilities in the UK’s energy security, which has become a key focus for the UK Government, demonstrated by the release of the British Energy Security Strategy.

The UK is still highly dependent on natural gas, its nuclear capacity is dwindling as reactors reach the end of their lifespan, and it has failed to install the renewable capacity required to prevent consumer bills from skyrocketing. However, based on the data our teams at the EIC have gathered, the UK has a strong pipeline of projects, either planned or under development, across multiple renewables and new technology sectors.

The challenge now is to ensure that the barriers to growth and innovation continue to be removed and the necessary measures are put in place to maximise investment in the wider UK energy market.

Discover the latest insights and expert analysis by reading the full report and finding out more about the UK trends in the energy industry across all sectors.

In this in-depth report, you will read about the Philippine’s major steps towards a sustainable energy future as the country is ramping up its adoption of renewable energy and reduction of its reliance on fossil fuels.

According to the Philippine Department of Energy (DOE), the country aims to increase the renewable share in its power matrix to 35% by 2030 and 50% by 2040. The government is investing in achieving this goal, including the developing the country’s largest wind farm with a capacity of 160MW and the decision to open the sector to foreign ownership.

The report also highlights the main findings in each energy sector, including oil and gas, offshore wind, power, hydropower, energy storage and more.

Policy and legislation are the driving force behind renewable capacity growth in Europe as countries prioritise green energy sources to drop carbon emissions and get closer to net-zero emissions. Each country has their own carbon emission target, as well as targets for certain energy sources.

In the last 12 months, we have seen large growth in Onshore Wind, Solar and Hydroelectric capacity across Europe. Three very mature industries in the continent, together these energy sources produce 92% of Europe’s renewable energy (313GW of 338GW total installed capacity).

This report provides an overview of the progress European countries have made in transitioning to renewable energy, as well as where growth in the renewable market will take place over the next five years. It covers the 27 member states of the EU, as well as Albania, Bosnia and Herzegovina, Iceland, Kosovo, Liechtenstein, Montenegro, North Macedonia, Norway, Switzerland, and Turkey.

Qatar maintains a robust emphasis on its oil and gas activities, which play a pivotal role in supporting the energy transition. This is primarily attributed to its substantial reserves of natural gas, widely acknowledged as an acceptable fuel for transitioning to cleaner energy sources.

The country is currently putting a lot of effort into developing the North Field following the lifting of its moratorium on new gas export projects from the area. Additionally, Qatar has engaged in several long-term agreements with other nations, establishing sale and purchase arrangements (SPA) for the provision of LNG.

Discover the latest developments in Qatar oil and gas, power, and renewables sectors, including information on who the key players are in each sector and advice on doing business in the country.

The 7th edition of Survive & Thrive report provides early warning signals of policy challenges and paints a striking picture of a fast-changing global energy landscape. Its unique approach to research is based on extensive interviews with the leaders and senior executives of 96 energy supply chain companies from around the world.

The report highlights that despite growing demand and ambitious country pledges for net zero, the energy supply chain is shifting into oil and gas, triggered by a lack of consistent and profitable work in green projects, raising concerns that net zero 2050 commitments will also be delayed. Additionally, oil and gas markets are experiencing a period of significant growth, which paints a picture that oil and projects are more likely to proceed with full funding, compared to renewable and transition technologies.

This edition also seeks clarity of the talk of a skills crisis, instead suggesting businesses are today largely still able to meet their growth commitments with the resources at their disposal, worried more about a future growth spurt of the green revolution finally happens.

Access the entire report for free and explore how our members are consistently thriving, innovating, growing, and sharing their expertise and valuable insights in a dynamically shifting market.

The US energy landscape is a dynamic mix of turbulence and potential. While political tensions, inflation, and ageing infrastructure poses a challenge, this report equips you with the insights to navigate these challenges and seize the exciting opportunities within.

Diving deeper into each segment, the report provides a comprehensive analysis of trends, challenges, and specific opportunities for you to explore.

Whether you’re eyeing O&G, renewables, or disruptive clean tech, the report serves as a roadmap to navigate the US energy market to turn challenges into triumphs.

The aviation industry is one of the hardest sectors to decarbonise. Sustainable Aviation Fuel (SAF) has emerged as the best short to medium term solution to address that.

As aviation accounts for up to 14% of transport emissions and up to 3% of all CO2 produced, countries all over the world are aiming to include it in their net zero targets. With over 100 SAF projects proposed on EICDataStream, this report will dive into the top markets pushing SAF, and the major players involved within the industry.

EIC's Insight Report Sustainable Aviation Fuel investigates each market providing a comprehensive analysis of trends and opportunities for you to explore but also challenges the sector faces.

Brazil has one of the cleanest electricity mixes in the world. Posing a 204GW of overall installed capacity as of May 2024, the country manages to produce 84% of that electric energy from renewable sources and yet it remains a key location in Latin America for additional foreign investment in the renewable sector in the coming years.

This report aims to provide an overview of the evolution of the Brazilian energy mix between early 2022 and late April 2024, analysing the addition of 22GW of installed capacity across the Onshore Wind (9.7GW), centralised Solar PV (8.8GW), Hydropower (0.2GW), Biomass (1.1GW) and Conventional (2GW) sectors, as well as into their ongoing and future developments tracked on EICDataStream.

Following up on the February 2022 edition, read this new report to see how Brazil's renewable journey has evolved and gain insights into the opportunities ahead.

The Middle East's energy landscape is undergoing a dual transformation, with significant growth in renewable projects alongside upgrades to traditional energy infrastructure. Solar capacity tripled between 2020 and 2023, while wind power has doubled, driven by initiatives like Saudi Arabia’s National Transformation Plan.

At the same time, carbon capture and hydrogen projects are steadily advancing. Saudi Arabia opened its second carbon capture facility in 2023, and nations like Oman and Qatar are accelerating hydrogen development with new policies and projects.

Despite these renewable energy advancements, oil and gas still dominate the region. Several new production fields and expansion projects went online in 2023, while the region faces decisions on whether to modernize or decommission aging assets in traditional energy sectors.

The energy sector in the Kingdom of Saudi Arabia (KSA) is a mix of conventional resources and transformation efforts, maintaining its status as a global leader in oil and gas. The oil and gas sector remains active and is expected to be crucial to the economy. KSA is among the top oil producers and exporters globally, holding the second-largest proven crude oil reserves after Venezuela. Its substantial oil reserves position the country as a key player in the international oil market. 

Consequently, the upstream sector is projected to have the highest estimated total investment value within the oil and gas sector. Some of the newly discovered fields include the Al-Katuf Gas Field, Al-Jahaq Gas Field, and the Al-Farouq Unconventional Oil & Gas Field. Saudi Aramco, which leads in daily oil production among oil-producing companies, aims to increase its gas production by 50% by 2030. Its largest gas field, the Jafurah Field, is projected to reach a production capacity of 2 billion cubic feet per day (Bcf/d) by 2030.

South America’s energy portfolio has seen asignificant leap on the number of renewable projects, with a large amount of capacity added across all countries in the region. The two main sectors of clean energy development have been Onshore Wind and Solar PV: since the start of 2021, 19 GW of Onshore Wind and 17.2 GW of Solar PV capacity were installed in South America. Hydropower, which is still the largest sector regarding capacity and number of assets in the region, is seeing its importance being continuously diminished as it hasn’t seen relevant start-ups in recent years.

Alongside traditional renewable energy sectors, other new technology transition facilities are seeing their first commissioned assets in South America. Recent years saw start-ups for carbon capture, energy storage and hydrogen plants. Between the three, battery storage facilities are the most developed often being co-located within renewable assets, such as Solar PV plants. The number of energy transition initiatives are expected to grow within the next few years, as countries are seeing the introduction of new policies that incentivise their development. An example of this is the recently approved Brazil’s hydrogen legal framework with the Law 14,948/2024 and Chile’s Green Hydrogen Action Plan.

Asia’s energy landscape has seen significant growth in the past year, with an additional 20 GW of capacity added, primarily in India. The most popular renewables recently are solar and wind power with around 5.3 GW and 2.4 added this year. Asia has also been exploring the option installing renewables on water bodies, as floating solar farms have been gaining popularity across the region. 

Offshore wind also recorded the highest capacity added in 2024, aided by the Feed-In-Tariffs set by government of Taiwan and Japan. Hydropower commissioning is concentrated within the Indian subcontinent due to its strategic location near the Himalayas. However, the intermittent nature of renewables necessitates the deployment of battery storage solutions. East Asia and Singapore have been addressing this issue by commissioning large scale battery storage since 2021, and this sector is currently at its peak with 602 MW installed this year.

The CCS sector has seen significant advancements over the last few years. The technologies position as a vital lever in the energy transition space has been cemented with many countries investing heavily in its rollout. Early governmental policy and funding are bearing initial fruit with a number of significant facilities beginning operations in 2024, namely Project Longship (Norway) and Moomba CCS (Australia).

The projected CCS pipeline now sits at over 480 projects globally, according to EICDatastream; however, the capacity of this pipeline sits well short of the magnitude needed to reach global decarbonisation targets. It is seen through the analysis of nine top markets (Brazil, Canada, Malaysia, Norway, the Netherlands, Saudi Arabia, UAE, UK and the USA), selected on the prominence of their development in the CCS industry as well as their rollout potential, that varying methodologies are being implemented to facilitate this growing momentum and to speed up the currently sluggish rollout.

Energy growth in Africa saw a shift in interest as the same number of projects were equally commissioned in both renewables and oil and gas sectors across Africa in 2024. The change in the energy landscape was driven by the need to provide access to electricity to 600 million people which is equivalent to 43% of the total population in Africa.

In 2024, 424.3 MW of solar and 821 MW of wind power were added into the capacity bringing the total capacity of renewables in Africa to approximately 21 GW. However, this number was largely attributed to the rapid development of renewable projects in Northern African countries and South Africa.

According to the International Energy Agency, Africa needs to acquire $190 million in yearly investment between 2026 and 2030 to guarantee that the renewables sector continues to thrive. Numerous investments for carbon capture and hydrogen projects have been made in various African countries such as Kenya and South Africa, scheduled to become operational between 2025 and 2030.

The global wave and tidal energy sectors have the potential to be able to provide a huge amount of renewable energy and could drastically aid in the goal of Net Zero.

The International Energy Agency’s Technology Collaboration Program on Ocean Energy Systems (IEA-OES) released a roadmap that outlines a comprehensive strategy to help drive the global development of ocean which outlines the potential for wave and tidal stream technologies to contribute 300GW of renewable energy generation capacity (specifically 120 GW of tidal and 180 GW of wave) by 2050 to global net zero targets and be worth a value of $340bn.

The tidal sector is considered more established and closer to commercialisation than the wave sector for now which is predominantly still in its testing and demonstration phase.

In 2024, the North American region received a significant addition of renewable projects to its
utility scale electrical power grid. The past two years have been marked by policies incentivizing
green energy projects, particularly in the solar sector, which alone hit over 100GW during the
past year. As seen in Figure 1, EICAssetMap tracks 214 new facilities across different energy
sectors in the region. Over half were renewable installations, illustrating the results achieved
by policy initiatives and strategic commitments made by North American countries toward
reducing carbon emissions or achieving net-zero altogether.

South America’s offshore wind scene is home to 108 announced projects to date, that together represent approximately 229.47 GW of prospective capacity. However, meaningful activity is currently concentrated in just two markets. Brazil commands roughly threequarters of the pipeline, underpinned by a robust strong renewable energy potential, abundant Atlantic trade winds, and legislation progressing towards seabed leasing and contract-for-difference support. 

Colombia, with about 6 GW in Caribbean waters, complements a smaller reserve of projects with a fully articulated regulatory framework, detailing seabed allocation, an auction timetable, and fiscal incentives.

The energy landscape in Europe throughout 2024 was strongly shaped by a significant emphasis on renewable energy development, reflecting the EU’s commitment to achieving net-zero greenhouse gas emissions by 2050. Of the 230 new energy assets commissioned in 2024, nearly 70% were in the renewables sector, with over 12 GW coming from wind and solar projects.

The offshore wind sector is gaining attention due to its vast potential to provide large-scale, clean energy and support the EU’s decarbonization goals. Additionally, the phase-out of coal remains a critical component of Europe’s energy transition, as the continent aims to reduce its reliance on fossil fuels. In Germany, the Ensdorf coalfired power plant is currently undergoing decommissioning and dismantling, expected to be completed by 2027.

The offshore wind sector in the Asia Pacific region (APAC) is rapidly growing amongst the major global markets. The report focusses in detail on the region’s key markets, Taiwan, South Korea, Vietnam, Japan and Australia, assessing its operational and proposed pipelines alongside its key drivers and challenges.

Future opportunities are also discussed in the emerging markets – India and the Philippines. Whilst China is the largest offshore wind market globally, it is excluded from this report due to limited visibility and its closed borders for supply chain opportunities.