EIC Monitor is a quarterly report from the EIC, the leading trade association for UK companies that supply capital goods and services to the energy industries worldwide, which tracks over 7,900 active and future projects in the global energy industry and provides an industry barometer, broken down into oil and gas (downstream, midstream, upstream), nuclear and conventional power and the renewables sectors. Data is analysed by the number and value of new, active and proposed projects recorded by the EIC each quarter.
Accordinmg to EIC Monitor, “the global energy industry remains focused with encouraging levels of new projects emerging”. The Q2 (April – June 2010) report reveals that the number of new projects remains healthy although the total potential investment value has fallen. The power and renewables sectors account for over half of all new projects and investment potential in Q2 2010. The upstream and downstream sectors have seen decreases in both new project numbers and values since the previous quarter.
Value of investments in renewables drops
In the renewable sector the number of new projects is much the same as the previous quarter although the value of these has dropped. The previous quarter, Q1 2010, was dominated by the $150 billion Round 3 UK offshore wind programme.
Commenting on the EIC Monitor, Mike Major, CEO of the EIC said: “While the potential investment value across all sectors has dropped slightly this quarter, it is encouraging to see that the number of new projects being proposed is holding steady and the global energy industry remains buoyant. Power and renewables continue to be the primary sources of new project proposals but there are still plenty of opportunities for energy supply chain companies across all sectors.”
There have been 123 new projects in the renewables sector totalling $68.4 billion in Q2 2010. In comparison there were: 124 new projects totalling US$224 billion in Q1 2010 and 87 new projects totalling US$77.2 billion in Q2 2009.
The most significant new projects this quarter are the 11,300 MW Asa Branca offshore wind project and a number of Round 2 offshore wind expansion projects in the UK totalling 1,522 MW with a value of $7.2 billion.
EIC Monitor is published on a quarterly basis. The next report will be available in October 2010. For further information about the EIC and its membership of more than 600 UK companies operating across the energy supply chain, visit www.the-eic.com.
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