As countries transition to a low-carbon world, Seatrium is likely to remain an important cog in the wheel of that transition. “With projects we have already secured, we’re going to contribute 16 gigawatt (GW) worth of total offshore wind capacity to our clients, capable of powering 20 million households. For the oil and gas side, our projects have a total production capacity of 17 million barrels of oil per day, and more than 55 million tonnes per day of regasification capacity,” Stephen Lu, group CFO of Seatrium, tells The Edge Singapore.
As countries accelerate their pivot to renewable energy sources amid rising oil prices, Seatrium looks set to become a key player
Seatrium could turn out to be a major beneficiary of the Iran War and its aftermath, as major economies in Europe, China and the US accelerate their pivot to renewables. According to lowcarbonpower.org, 42% of China’s energy is from renewables, while 43% of the US’s energy supply is from renewables. These levels are set to rise. Some European economies have more than the majority of energy from renewables — Norway is at 99%, France at 97% and Denmark at 86%.
