The global events which have unfolded since the last edition of this survey have reinforced a reality that should never be taken for granted - that energy security matters.
From continuing instability in the Middle East to growing geopolitical competition over energy supply, the past year has once again demonstrated the importance of secure, reliable and resilient domestic energy systems.
Against that backdrop, the findings of Energy Transition 43 offer an important reminder that businesses across the North-east of Scotland continue to see enormous long-term opportunity in the future of the North Sea and the wider energy transition.
Indeed, 93% of respondents either agreed or strongly agreed that there remains a future for oil and gas activity in the basin if the UK creates the right fiscal and regulatory conditions to support it.
That is a significant finding because it demonstrates that industry has not lost confidence in the capability of the region, its workforce or its ability to help deliver the UK’s long-term energy ambitions. What businesses are increasingly seeking is the stability, policy clarity and infrastructure needed to unlock that opportunity fully.
Across the survey, companies continue to demonstrate resilience, adaptability and a willingness to invest in the future. Businesses are diversifying into offshore wind, carbon capture, electrification and wider decarbonisation activity; they are investing in technology, developing new capabilities and supporting the workforce needed to deliver the next generation of energy infrastructure.
At the same time, respondents consistently identify several barriers which continue to slow the pace of progress. Grid constraints, transmission charging, planning delays, consenting complexity and ongoing fiscal uncertainty are all highlighted as areas where greater alignment and long-term certainty would help accelerate investment and project delivery.
The North-east of Scotland remains one of the world’s leading centres of offshore engineering expertise, supply chain capability and energy innovation. The skills, experience and industrial capability developed through the North Sea over the past five decades are precisely the capabilities now required to deliver offshore wind, carbon capture, electrification and wider low-carbon infrastructure.
One of the clearest themes running throughout this report is therefore the importance of a balanced and well-managed transition - one which accelerates lower-carbon technologies while also recognising the continuing role domestic oil and gas production will play in supporting energy security, industrial capability and workforce resilience during what will inevitably be a multi-decade transition.
The opportunity for this region remains substantial. The expertise still exists here in our highly skilled workforce and globally recognised supply chain. With the right policy environment, stable fiscal frameworks and continued investment in infrastructure and project delivery, the North-east of Scotland is exceptionally well placed to remain a globally significant integrated energy hub for decades to come.
At D2Zero, we continue to see every day the innovation, determination and ambition which exists across the sector. Energy Transition 43 makes clear that businesses are ready to play their part in delivering the UK’s energy future. The challenge now is ensuring the conditions are in place to allow that transition to succeed in a way which supports both economic resilience and long-term energy security.