What Factors Can Influence More Oil & Gas Corporations To Invest In Offshore Wind, Especially In Emerging Markets?

Abstract: The offshore wind industry has advanced over the years and has attracted investments from oil & gas corporations. Europe is currently the main market for offshore wind development but in the heat of climate issues, there are calls from world bodies like The World Bank to develop this type of technology in other markets since it has been proven to be effective in displacing carbon emissions. This thesis explores the factors that could contribute to attract investments from the oil & gas industry into offshore wind development in emerging markets.  The thesis highlights the contributions oil & gas corporations have made towards the advancement of this technology. Further analysis is made on the weaknesses and strengths in developing this type of technology in selected countries which are categorised as emerging offshore wind markets to understand what is hindering the development of this energy in other markets.  Also, a direct question is posed to selected oil & gas corporations to ascertain what factors could attract them to invest in offshore wind development in these emerging markets. In the results, this thesis projects that oil & gas corporations will invest in these markets based on profitability, the need to affiliate with renewables to protect their businesses and as a safe measure against a decline in their core business of operation. The thesis also makes suggestions on ways emerging markets could attract investments from oil & gas corporations.