Challenges and opportunities for the energy sector

The predominance of complex, internationalised supply chains is one of the defining characteristics of the global economy in the 21st century.
When economists talk about globalisation, they are in part talking about the interconnectedness of the world’s economic trade, thanks to the ability for supply chains to link countries together.
Cobalt mined in the Democratic Republic of Congo becomes batteries in China, superconductors made in Korea are fitted into cars made in America.
Supply lines
Global supply chains have opened up enormous opportunities for innovation, not least in the global energy sector, which, with its transcontinental pipelines, and fleets of LNG-carrying ships, is composed of an intricate web of supply chains.
Criticism of supply chains, and globalisation more broadly, has tended to focus on the neglect of domestic industries and commercial activity in favour of cheaper suppliers overseas.
However, the impact of the global pandemic, and the crisis in Ukraine, is now causing some industry commentators, both in the energy sector and its partner industries, to question the reliability and integrity of...