Carbonomics: Security of Supply and the Return of Energy Capex
The Russia-Ukraine conflict is a turning point for the energy sector, according to analysis from Goldman Sachs Research. One that is similar to, and potentially greater than, the Fukushima nuclear accident and Libyan civil war concurrence in 2011. The analysts expect an acceleration of US shale and global LNG construction. However, seven years of hydrocarbon under-investment (2015-21) and an ongoing focus on de-carbonization means that this energy investment cycle will be different. In this report, the research analysts examine this Return of Energy Capex and draw five key conclusions.