Political uncertainty looms large over the global energy sector, raising concerns among industry professionals, according to the latest report by DNV.
The survey, which gathered insights from almost 1,300 senior energy professionals globally, highlights a sense of apprehension regarding the forthcoming wave of elections and potential policy shifts worldwide.
Nearly two thirds of respondents identify political uncertainty as the primary threat to success over the coming year.
However, the report portrays a resilient optimism, with 73% expressing confidence in the industry’s growth trajectory for the upcoming year.
Notably, this figure has remained relatively steady at around 74% since 2022, signalling a steadfast stance amid a turbulent landscape.
The survey underscores a complex interplay of factors shaping industry sentiment.
While overall positivity persists, specific sectors like electric power and renewables have witnessed declines, reflecting challenges such as rising costs and disruptions in supply chains, which threaten the viability of many projects and dampen short term optimism.
Ditlev Engel, Chief Executive Officer Energy Systems at DNV stated: “Key drivers of optimism include the relentless march toward decarbonization and electrification, offering long term clarity amid near term uncertainty.
“Understanding this shift as a necessary progression aligns with the industry commitments under the Paris Agreement, reinforcing its determination to drive meaningful change. Consequently, the industry’s optimism about the path ahead is well-founded – especially since the requisite technologies are already within our reach.”
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