Creating enduring impact for the energy sector
08 April 2025
As a business founded in the North East of Scotland almost 90 years ago, Johnston Carmichael has grown up with the North Sea energy industry. Since its inception, we have played a key role in supporting businesses across the sector and we have built exceptional expertise in our teams.
The future of energy is inextricably linked with the future of Aberdeen, which has become a world-leading hub for oil and gas, technology, innovation and skills . But the scale, pace and success of the transition doesn’t just affect Aberdeen; it is a matter for the whole of the UK.
The importance of the industry to UK PLC can’t be underestimated. From Newcastle to Norwich, and Shetland to Southampton, virtually all our communities have links to energy through the skills and technology we have developed in the supply chain. Much of it has also become transferrable to other industries, most obviously renewables but also engineering and construction, instrumentation, transport and logistics and technology.
For more than 20 years, the Aberdeen & Grampian Chamber of Commerce Energy Transition survey has become established as a vital source of industry intelligence for businesses, policy makers and the media. Joining forces with the Chamber is a valuable way for us to support our clients in the energy sphere by ensuring that their voices are heard and considered amid the major policy decisions that are taking place here in the UK and worldwide.
Last year its report was at the forefront of the General Election energy debate and the North Sea Transition Taskforce was established as a direct result of calls made in the survey for an independent ‘Bank of England for Energy’, to set long term policy on this topic of vital social, economic and environmental importance to the nation.
Among the questions, this year’s survey explores:
- GB Energy – what businesses make of it and what they feel the priorities should be.
- The Energy Profits Levy – will removing the Energy Profits Levy ahead of 2030 stimulate investment and activity?
- What will be the impact on investment activity of the retention of first year capital allowances for the sector?
- Is there a risk to continuity of supply leading to energy shortages?
- Is importing increasing amounts of fossil fuels to meet our domestic demand really better in addressing our global climate challenges?
- What do we need to do to protect and sustain the skills and knowledge that exist in our North Sea ecosystem as oil and gas jobs decline but are not yet available in renewables at the same scale?
Decarbonisation is essential; on that, we can all agree. The North East of Scotland is well positioned to play a leading role in the UK’s journey to clean energy, and through our partnership with Aberdeen & Grampian Chamber of Commerce we will continue to provide the helping hand that has sustained energy businesses of all sizes over the past 50-plus years.
As a firm, we have supported businesses operating across the energy sector for decades. Our talented people have a passion for the sector and ensuring the exceptional skills and technologies that have been developed in the North East of Scotland, are retained and developed further to suit the changing energy landscape.
‘Our Energy, Infrastructure & Sustainability team comprises experts in corporate finance, tax, capital allowances, accounting and audit services who provide our clients with deep sector expertise and a proven track record of completing deals both within the UK and internationally. The on-going drive to achieve net-zero carbon presents a wealth of opportunities for our diverse client base. Partnering with the AGCC survey allows us to be at the forefront of what businesses are saying. We will use our expertise to support the survey and help deliver the changes that will ultimately support businesses across the sector.’
Mark Stewart, Head of Energy, Infrastructure and Sustainability