Energy leaders in the UK and around the world are deeply concerned about energy security, as revealed by new research launched by GHD, a global professional services company.

The combination of extreme market volatility and geopolitical tensions has elevated energy security as the top concern for 75% of energy leaders worldwide.

The study highlights the impact of the energy crisis that has unfolded over the past three years, causing shocks across the sector and depleting investment levels, creating a capital crunch.

The study which surveyed energy sector leaders, discloses that nearly 94% of these leaders believe the current energy crisis to be the most severe their market has ever faced.

Additionally, energy sector Chief Financial Officers estimate that investment levels between 2020 and 2022 were a substantial $203 billion (£163bn) lower than they would have been under normal circumstances.