The energy industry is going through rapid change and transition and faces what are, perhaps, unprecedented challenges. Global market growth continues, despite the recent slowdown induced by events in emerging Asian economies, yet reducing emissions and global environmental protection are part of the mainstream political agenda.
New technologies offer both new opportunities and challenges.
The structural backdrop is ongoing liberalisation and globalisation of markets. By way of introduction some of these key themes are considered here. Global Growth and Development World Consumption is already growing at a rate equivalent to the UK's entire energy market each year. Yet today 2 billion people are still without access to modern energy. As populations grow and urbanise, access to traditional energy forms becomes difficult, and local environments may be degraded.