Last year 51 offshore projects were sanctioned, lower than in 2017 but still significantly up on 2015/2016. Dr. Keith Myers, President, Research at Westwood Global Energy forecasts up to 90 potential final investment decisions this year. This will bring some relief to the hard-pressed supply chain still struggling with overcapacity in most asset classes and many suppliers struggling with commercial terms. This should also lead to increased contracting in 2019 but with limited price inflation.
Courtesy Allseas
Photo 149951227 © Benoit Grasser | Dreamstime.com
Courtesy Chartwell Marine
Courtesy Wärtsilä
Courtesy OLT Offshore LNG Toscana
