The tip of the spear: powering energy transition from the front end

According to figures published by the International 能源 Agency, global government spending on the energy transition has risen to USD 1.2 trillion, with the largest increase coming from the Inflation Reduction Act.

As government funding will undoubtedly mobilise and incentivise private investors, energy companies will need to think wisely about the power of their own capital, to which front-end engineering scopes are critical for decision-making. Not only to ensure companies invest their own capital wisely but to provide a solid case for funding that will enable key projects to be brought to life. 从创造最具成本效益 绿色制氢设施的设计概念 to determining an accurate budget for carbon capture and storage (CCS) projects, getting the early phase engineering right is an essential step in providing certainty, 降低风险, and enabling investors and governments to budget accordingly for new energy projects and hubs.

While the true value of front-end engineering has been understood and appreciated for decades in existing industries, capital investment projects supporting the energy transition are different. 有更多的变量, and they often include multiple disciplines and the assessment of new and rapidly developing technologies. If not managed carefully at the concept and feasibility stages of a project, these variables can introduce significant uncertainty and risk to delivery.

In mature industries such as oil and gas or process and chemicals, 可以使用标准的前端框架, but due to the novel and complex nature of energy transition work, a more collaborative approach is needed to create certainty of success. Wood is already well-positioned at the forefront of this new era in energy. Our teams have performed groundbreaking studies for energy transition work on projects like the world’s first e-methanol production facility for the marine sector, the UK’s first hydrogen pipeline networks- 现在 expanding through 我们与SGN在苏格兰和英格兰南部的合作, 将塑料转化为氢, and projects converting hydrogen into sustainable aviation fuels.

木头有多于1个,500 technical experts dedicated to delivering front-end project development engineering, completing over 2 million manhours on study work globally each year. When it comes to driving strong outcomes from front-end engineering, the single most important aspect we have learned is that of collaboration and of partnering with our clients. 当我们作为一个团队工作时, 汇集我们的集体知识, and bring cognitive diversity to these highly complex projects, we can better achieve project success and maximum return on investment.

As we continue to collaborate to ensure the success of this transition, Wood is actively engaging and influencing many key industry forums like the 氢 Council and the 碳捕获 and 存储 Association (CCSA) in the UK and Europe, as well as the Houston 能源过渡 Initiative (HETI) in North America. 我们还主导了一些重要的联合产业项目, setting common standards for CO2 specifications throughout the CCUS supply chain, and are working on large-scale carbon reduction programmes like Humber Zero in Europe as well as clean energy projects across the Middle East to reduce emissions of energy-intensive industries.

由我们世界一流的专家掌舵, we are designing a low-carbon future one project at a time.

To learn more about Wood’s energy transition work, 点击 在这里. To learn more about our project development services for large-scale assets and complex facilities, 点击 在这里.