Floating Wind & Deepwater Oil and Gas – Two Worlds Collide

April 23 (OE) Over the last few years, the energy trilemma has pivoted away from energy transition to energy security and affordability. As a result, offshore oil & gas exploration and production activity, including deepwater activity, has been relatively healthy. Construction, operational support and decommissioning activity has supported the deployment of large anchor handlers and MSVs.

At the same time, the global floating offshore wind forecast has “moved to the right” due to cancelled projects, disappointing auctions, cost increases and political headwinds. Within the offshore wind sector, floating wind remains an emerging technology. The 2035 commissioned floating wind capacity forecast is ~5GW, rising to ~14GW by 2040.

Despite this less positive floating wind forecast than previously presented, floating wind projects will drive demand (and shortages) for the largest AHTSs and MSVs.

Depending on oil & gas demand for large AHTSs, shortages could appear by 2029-2031 and shortages in large MSV supply could emerge as early as 2030-2031. These are the finding of a new floating wind vessel forecast by Intelatus global partners.

Source: Intelatus Global Partners

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