News

HFI was delighted to see the appointment of Hugh Fraser as a Global Ambassador to the Energy Industries Council (EIC) during 2024 and Hugh was honoured to be part of a great kickoff to ADIPEC 2024 at the EIC Business Breakfast with Stuart R Broadley HonFEI, Ryan McPherson, Edward Hobart CMG, Robin Mills and panel session on “Unleashing Global Energy: How Can We Spark Cross-Border Collaboration and Trade?” with other panelists Jamy Zakharia and Ellis Renforth.
 
Key themes of the panel discussion were there's a huge opportunity for the supply chain given the US$3 trillion spend of the energy sector this year. Two thirds of that spend is taking place in the clean energy and energy transition sector including solar pv, wind, nuclear, EV, heat pumps, hydrogen and CCUS, with one third being investments in gas, oil and coal.
 
The main constraints are the ongoing BRICS/G7 geo-political fragmentation with the accompanying challenges with sanctions and tariffs, security concerns with some territories, tight margins and cash flows and skilled manpower resourcing constraints.
 
The keys to ongoing cross-border collaboration success are to bring innovative technologies and know-how solutions and effective local partner ventures structured for win/win results on a territory by territory basis.
 
HFI is keen to play a key role in supporting clients’ technology supply and technical services contracts (TSTSCs) and in-region manufacturing ventures (IMVs) in the Middle East region, with advanced energy technology licensing and local manufacturing, procurement, employment and training being a growing policy objective in Saudi Arabia, the UAE, Qatar and Oman.
 
We hope our clients and connection had a very productive ADIPEC 2024 and this will provide a launchpad to a strong finish to 2024 and successful 2025.