UK energy minister to give opening address at Subsea Live

The event will explore how the subsea supply chain can capitalise on the opportunities presented by the energy transition and the blue economy with industry leaders and government panellists weighing into discussions from 25 May – 27 May.

The minister will cover some of the key areas of the UK energy transition and how the UK supply chain needs to be at the forefront of the opportunities presented. She will also highlight the development of the Global Underwater Hub (GUH), which has attracted a combined total of £13 million in funding from the Scottish and UK Governments and will provide the support and market intelligence to grow the UK’s underwater industry from revenues of £8 billion to £45 billion in the next 15 years.

The GUH will connect the UK regions and underwater sectors with global market opportunities to ensure the industry is well-positioned to help deliver the energy transition and capitalise on the global blue economy.

Forecast to be worth around US$3 trillion annually in the next 10 years, the blue economy is the sustainable use of ocean resources for economic growth. Oil and gas, offshore and marine renewables and aquaculture account for around a third of its value.

It is estimated that this global underwater part of the blue economy is expected to grow from £50 billion per annum to £140 billion per annum by 2035.

Neil Gordon, chief executive of Subsea UK said: “We warmly welcome the UK Government’s support for the Global Underwater Hub’s vision to transform the underwater industry in the UK which will not only create jobs and revenues but also help accelerate the country’s net-zero ambitions.

“Subsea expertise and technology will play a pivotal role in the emerging technologies and projects that will deliver the energy transition, from offshore floating wind to hydrogen and CCUS. But the industry also has a massive opportunity in the blue economy and Subsea Live will help companies assess the direction they need to take to go after these.”

Streamed live from the Subsea Live TV studio in Aberdeen, Subsea Live will include a series of professional broadcast quality debates to engage the audience in exploring and discussing the near-term and longer-term opportunities in the energy transition and the blue economy.

Designed to provide a unique platform, that offers more than just a webinar, Subsea Live will assess growth opportunities for the subsea supply chain with industry experts featuring throughout the three-day event, which will include two live panel sessions hosted by Kirstin Gove with representatives from UK Marine Energy Council, Baker Hughes, Ørsted, Serica Energy, Neptune Energy, Equinor, SSE Renewables and Scottish Development International.

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