Tekmar Group's technology and services support global offshore oil and gas, renewables, interconnectors, telecommunications and marine civils markets.
Offshore wind is now considered a mainstream supplier of low-carbon electricity. The UK is already the world leader in offshore wind, with more capacity installed than any other country. This growth has been supported by the cost of electricity from new offshore wind projects has fallen by about 50%, making it cheaper than gas or nuclear.
According to forecasts from Westwood Global Energy, global offshore wind capacity is expected to grow from 17.1 GW in 2017 to 102.7 GW by 2026, representing a 22 per cent. CAGR, as global capital expenditure in offshore wind is predicted to amount to almost €444 billion within the same period.
Supportive regulation in the developed world has resulted in significant inflows of public and private investment, while governmental commitments to meet climate change targets are expected to drive demand for increases in global renewable energy capacity.
Tekmar Group are a global leader in offshore wind, trusted to protect over 21GW of electrical infrastructure worldwide.
Oil and Gas
The subsea oil and gas market has experienced a period of turbulence since 2014, with increasing price pressure driven by underlying supply and demand dynamics.
The price per barrel for Brent Crude dipped below $30 in 2016, resulting in a drop in demand for new projects and new equipment. This dip also forced companies to seek more cost-effective solutions to ensure that the price of extraction remained viable.
The oil price has now stabilised above $50 per barrel and as more projects are coming back online. The industry has gone through a restructuring process and the offshore market is beginning to see a gradual increase in tendering activity.
The market for providers of offshore oil and gas protection solutions, reflective of the wider oil and gas sector, is more mature than that of the offshore wind sector.
For Tekmar Group, we are expanding our offer to protect pipelines with equipment; such as Subsea Innovation’s Emergency Pipeline Repair Claims (EPRC) and AgileTek’s analysis of subsea umbilicals, risers and flowlines (SURF); as we look to increase revenues from all global energy markets.
Interconnectors are key elements in the transmission of energy between networks. Interconnectors play a vital role in the ability of nations to meet energy demand.
Huge amounts of electricity and gas are constantly traded between Europe and the UK through interconnectors. To transmit electricity, the interconnector comprises a power cable; for gas, a pipeline facilitates the flow between two respective networks.
By acting as a conduit, interconnectors simultaneously boost energy security and improve the scope for energy trading. For North Sea gas producers, interconnectors match supply and demand by facilitating trade and the wholesale movement of gas from Norway to mainland Europe and the UK.
Interconnectors dedicated to renewable energy also help meet low emissions targets. Once Britain’s current interconnector program is completed, the UK will be able to export surplus wind power to neighbouring countries and import wind or hydro power from Denmark or Norway.
For Tekmar Group we believe it is important to support both the direct energy markets, such as offshore wind or oil and gas, but also the supporting infrastructure markets such as interconnectors which play a major role in the global energy mix.
Huge investments are expected in global telecommunication networks due to the exponential increase in demand for high-speed internet services.
Following the increase in internet use and cloud technology, it is not believed the existing cable networks will be sufficient to meet the needs of the users, therefore a huge increase in the number of projects of submarine cable networks is expected.
For Tekmar Group we support a range of industries; including telecoms and telecommunication subsea cables; using our world leading experience and our 30 year heritage for protecting subsea infrastructure.