We are delighted to welcome our summer interns to etasca. Throughout the Summer they will help build our models, further our thought leadership and work on client facing projects in various areas of energy and chemicals. We asked them for their insight into what challenges lie ahead for the industry. Lance Simandjoentak is a third year UCL chemical engineering graduate joining our team today! "A crucial concept that I find compelling is the conundrum of the energy trilemma. This revolves around three unique pillars: energy security, energy sustainability and energy affordability. It's clear that the three pillars cannot be thought of in isolation to one another, presenting a complex challenge. As an example, importing energy sources can supplement domestic inventory and enhance energy security but what happens when the energy security relies on external sources? This can lead to an over-dependence increasing vulnerability and exposure to geopolitical factors contributing to energy insecurity. Imported energy sources can also be subjected to import taxes and price fluctuations. For reference, in 2023, Europe experienced its biggest deficit in oil, where production only met 23% of its demand, gas production only 44% and coal production meeting only 58%. All at a time where Europe is trying to lead the way in the energy transition. The energy trilemma is just one of multiple prospects that challenge industry highlighting the importance of making energy supply affordable. A test case for this is the evolving CBAM regulation which increases energy sustainability factors but could have an impact on energy affordability. etasca is at the forefront of analysing both market elements and technology factors in the energy and chemical industries as they face up to this challenge. I'm looking forward to joining the team and learning more!"
Congratulations! Lance Simandjoentak
Freelance Consultant - PETCHEM, Polymers, Specialty Chemicals, Polymer Additives, Masterbatch & Polymer Compounding
4moWelcome to the team Lance!