Oil & gas diversification to boost tidal, wave commercialization

Illustration (Photo: Scottish Enterprise)

Scottish Enterprise has released a new guide aimed at Scotland’s diversifying oil and gas supply chain which states they it can play an important role in the commercialization of wave and tidal stream energy.

Among opportunities in other energy sectors, the report has identified tidal and wave energy as the main additional sectors to be looked at in the long term.

Wave and tidal will use many of the capabilities developed by oil and gas, and subsequently repurposed by offshore wind, according to the Oil and Gas Diversification Opportunities guide.

Scottish economic development agency, Scottish Enterprise, encourages new market entrants from oil and gas background to consider engaging with test and demonstration projects, which account for around half of global activity in the sector, and entering into an early dialogue with technology providers to prepare for the transition from prototypes to mass deployment.

Scottish Enterprise said that tidal energy projects in Scotland represent some of the most readily accessible opportunities for supply chain firms, with phases 1B and 1C of the MeyGen project, as well as the Sound of Islay project due to enter construction before the end of the decade.

In addition, oil and gas supply chain are advised to work with Scottish universities, which are at the forefront of many technical innovations in tidal and wave sectors.

Also, the companies interested in new markets should bring expertise in cost reduction and quality control to early projects, and explore partnership opportunities with other companies already active in the sector, according to Scottish Enterprise.

Maggie McGinlay, Director of Energy at Scottish Enterprise, said: “Whilst the North Sea will continue to have a long term future for Scotland’s oil and gas sector, the current global challenges have highlighted the need for supply chain companies to leverage their skills and experience built up over the last 50 years to target opportunities in other sectors.

“The new guide and factsheets aim to provide companies with an understanding of the main diversification opportunities and how they can maximise them to protect jobs, skills and investment in Scotland.”

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