Senior Industry Figures Launch Energy Transition Advisory Company 14 July 2020 – Posted in: Industry News, MWM Client News
Leading oil and gas professionals Hamish Wilson, Bill Senior, Tony Smith, Martin Dru and Sarah Milne are today launching BluEnergy, committed to enabling oil and gas companies to leverage their existing asset base to create low carbon energy streams, generating value whilst reducing carbon intensity.
Hamish Wilson, Co-Founder of BluEnergy, says “Our focus is to identify low carbon investment opportunities where companies already have a competitive advantage through in-country relationships and capital project capability. These can bring commercial advantage when deploying the following established low carbon technologies through early entry in emerging markets such as Solar and Wind”.
The challenge facing oil and gas companies has been thrown into sharp relief by the recent Covid-19 crisis, with companies fighting for survival, seeing cash flow, investor returns, supply chain, and the fundamental value proposition under threat with a highly volatile earnings stream and borrowing base. In contrast, companies with high proportions of renewable energy in their portfolios not only suffered less during the crash, but have quickly returned to pre Covid-19 levels. The Founders of BluEnergy, along with many other experienced industry professionals, feel that companies that do not embrace the opportunities presented by the Energy Transition and grow broader asset portfolios, may not survive long term. They do, however, believe that oil and gas companies are ideally placed to lead the transition, and that It’s time to move on from simply discussing the Energy Transition to actively design and implement strategies that protect and sustain both industry and the wider world.
“We are passionate about the Energy Transition and we know that oil & gas companies have the global reach, scale and skills to lead the Energy Transition” says Tony Smith, Co-Founder. “We recognise the cultural challenges in embracing this strategic move that starts the journey to the long-term transformation of the energy sector. BluEnergy is focused on delivering tangible low-carbon projects, and we believe we are well-positioned to support the oil and gas industry in moving towards a lower carbon intensity future and a more resilient share price”.
Notes for Editors:
BluEnergy comprises a team of former oil & gas company professionals that bring a unique combination of low carbon and oil and gas industry expertise, as well as business transformation experience, including:
- Deep practical knowledge of both the oil and gas industry and the low carbon energy sector
- In-depth low carbon expertise spanning Renewables, CCUS and Hydrogen – including project development, technology and markets
- Understanding of the commercial structure of the low carbon energy sector and its fit with an oil & gas company’s investment criteria, strategy and risk framework
The team comprises:
- Hamish Wilson: Strategy and Business Planning; Renewables Energy Strategy Formation; Low Carbon Business Case and Capital Raising
- Bill Senior: Low Carbon Future; Carbon Capture and Storage; Strategy, Projects, Policy; Subsurface CO2 Storage
- Tony Smith: Hydrogen; Natural Gas Commercial Strategy Planning
- Martin Dru; Portfolio Risk Management; Business Transformation; Technology and Systems
- Sarah Milne: Commercial; Negotiations; Licence to Operate; Catalyst for Change
For more information, please go to http://www.bebluenergy.com/