We are actively engaged in the future of energy transition
The future of the energy sector is directly linked to the course and requirements of the energy transition seen through the prism of energy security. All estimates agree that the path to a clean energy future has been mapped out, and it is only a matter of time before critical technologies mature and costs are rapidly reduced through their mass development on industrial level. Typical examples are offshore wind farms, countries’ interconnections, green hydrogen and biogas production, as well as carbon capture and storage technologies.
In the context of the transition, we distinguish, among others, two key features that will support the course of the company, as already shown by our latest financial results and the record high backlog. Firstly, the long-term technological trends driving the energy transition are already evolving at an extremely rapid pace. Secondly, it is certain that this pace will be maintained for the next two to three decades in order to move from the transitional stages to the path of achieving carbon neutrality. The global energy system is already rapidly shifting towards clean fuels such as electricity from renewables and hydrogen. However, this decade will continue to be marked by global demand for natural gas and biogas as transition fuels. This is expected to peak in the next 2-3 years before gradually de-escalating, subject to the viability of these new technologies.
At the same time, the challenges we must overcome to successfully achieve the energy transition are significant. These include an efficient supply chain, the availability of necessary natural resources, and the basic cost of raw materials. Generally, the costs accompanying the intended transition are also substantial.
The above observations present the question of how we can position ourselves effectively in this new reality. I believe that the answer given by Cenergy Holdings through its innovative products (e.g., static or dynamic submarine cables, steel pipes for the transport of liquid and gaseous fuels, hydrogen and CO2) is the most appropriate one and highlights our position as an energy industry leader. A continuous stream of investments in innovation is at the heart of our company’s sustainable development strategy. In addition, investments which increase the capacity of our production plants are further enabling us to meet the growing demand of the industry.
The road to the future of energy calls on industry leaders to play a prominent role at every stage of the energy transition, from the transitional use of natural gas for the coming years, to the capture and storage of carbon dioxide, to the massive adaptation to clean forms of energy and its transfer to industry, transportation means and urban centers. Continuous investments in innovative solutions are essential in all critical areas where we operate.
The company at a glance
Listed on the Athens Exchange and Euronext Brussels, Cenergy Holdings has subsidiaries Hellenic Cables and Corinth Pipeworks, companies that are world leaders in the field of energy transmission. Hellenic Cables is one of the largest cable producers in Europe, manufacturing submarine cables as well as power and telecommunications cables. Corinth Pipeworks is a world leader in steel pipe manufacturing for the liquid and gaseous fuels, hydrogen and CO2 transport sector and a producer of hollow sections for construction sector.
