Global insights. One firm
Lewis McDonald

Looking across your practice, what are the key lessons you'd stress for business?

The current global uncertainty rewards diversity – diversity of energy and supply chains generally. There will be onshoring of critical supply infrastructure; new value chains need to be built and there is a need to forge new relationships with entities in other countries to ensure a diverse supply. For our clients, we're putting a lot of focus on that and we're seeing more interest in a broader range of countries that can supply necessary products and services.

What are the trends impacting the energy sector at the moment?

We are witnessing a shift resulting from the realisation energy demand is growing globally and we need more of everything. Part of that is a move from a pure sustainability focus back to security, reliability, affordability as well as sustainability. That's generating a lot of activity around how to secure the energy that you need at the right price.

How is emerging technology impacting this?

We're seeing increased demands from the worlds of data centres and AI. Those new technologies require a very firm energy supply and that means new value chains are being created. Meanwhile, that's all happening alongside continuing growth in emerging markets and tariff uncertainty, as well as conflicts in multiple theatres involving energy-producing nations.

Lewis McDonald is a partner in our energy sector team, based in London.