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North-East firms urged to join energy contracts bonanza
NORTH-East businesses have been urged to take advantage of the predicted £330bn investment being made in Britain’s energy infrastructure.
NOF Energy, the business development organisation for the oil, gas, nuclear and offshore renewables sectors has issued the rallying call ahead of its annual national conference, which takes place at the Gateshead Hilton today. (Thursday March 14)
It is forecast the UK energy industry will require in excess of £300bn worth of investment to meet the both energy requirements and low-carbon targets.
NOF Energy believes that the region's supply chain is well-placed to tap into this investment, which has the potential to deliver lucrative opportunities for companies that are able to provide skills and innovative products and services.
The organisation is also advising companies that it is more important than ever to be able to deliver products and services across the oil & gas, nuclear and offshore renewables sectors.
Oil & gas will remain the dominant energy sector for decades to come and activity has increased, particularly in established fields where tax breaks are encouraging greater investment to prolong lifespans.
Since the publication of the draft Energy Bill confidence in offshore renewables, specifically offshore wind, has begun to grow and operators are gearing up for the next round of wind farm developments.
In addition, new nuclear will become an increasingly prominent element of the energy mix once operators establish future funding options.
The conference and exhibition, ‘Energy: a Balanced Future – Decades of Opportunities’, which is sponsored by the NewcastleGateshead Initiative, Emirates and Wood Group PSN, will address the issue by highlighting the importance of securing a balanced energy mix in the UK to meet future targets through a supportive and effective cross-sector supply chain.
In attendance will be a panel of speakers, exhibitors and leading executives from organisations, including Total, EC Harris, Seimens Wind Power, Jacobs and OGN Group, who will discuss the future of the energy sectors served by a multi-skilled, adaptable, integrated supply chain.
Almost 300 delegates are expected to attend the conference and exhibition and take the opportunity to network with industry leaders.
George Rafferty, the chief executive of NOF Energy, said: “The level of investment required to deliver a sustainable and long-term energy infrastructure presents considerable opportunities for the supply chain.
“To meet EU and UK government targets, operators and contractors need to draw on the experience, expertise and innovation of suppliers. The UK is world-renowned for its high quality supply chain, but in a globally-competitive market it is essential companies are actively engaging with the industry.”
He added: “The major organisations speaking at our conference are keen to work with quality suppliers that understand the needs of a multi-stream energy sector. I urge UK suppliers to grasp the nettle and take advantage of the opportunities open to them.”
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