ENERGY TRANSITION WILL CREATE 8,000 HIGH-VALUE JOBS FOR PETERHEAD IN NEXT DECADE

The town’s rich skills base and supply chain capability will enable it to earn £626 million across a wide range of projects from carbon capture and storage to offshore renewables, transmission networks and hydrogen.

Once fully operational, these projects will general an additional £71 million in gross value added (GVA) and support 820 jobs every year in the local economy.

The figures come from an analysis undertaken by BiGGAR Economics for the Vision document published today by the Peterhead Energy Transition Forum.

The Vision aims to:

• Promote Peterhead and Aberdeenshire more broadly as prime locations for business and investment;
• Support economic development through targeted initiatives;
• Enhance collaboration between the public and private sectors;
• Strengthen the visibility and competitiveness of the region nationally and internationally.

Seamus Logan, MP for Aberdeenshire North and Moray East, who has written the foreword for the report, said: “Through investment, strategic partnerships, and ongoing community engagement, Peterhead is positioning itself as a forward-thinking coastal town, ready to seize future opportunities and enhance the well-being of all who live and work there.

“Peterhead is a prime location for energy sector investment. With its existing strong, diverse skill set and supply chain capability, the area is clearly ready for the journey of growth and transformation.”

Keith Mackie, Head of Business Development – Energy Transition for Peterhead Port Authority, said: “Peterhead is at the forefront of the energy transition in Scotland, and its unique physical and human geography mean it is poised to be the focal point for a wealth of transformative and innovative projects in the coming years.

“We are pleased to present this Vision document to showcase our strengths to the investment and business communities as well as government bodies and the general public.”

Peterhead Energy Transition Forum comprises a group of local companies and organisations working to enable mutually beneficial domestic and inward investment activity.

With support from Scottish Enterprise, participating organisations are: Aberdeenshire Council, ASCO, Dales Engineering Services, ETZ Ltd, Invest Aberdeen, JBS Group, Maritime Developments Ltd, Peterhead Port Authority, Score, Scottish Maritime Academy (part of NESCol), SSE Thermal, SSEN Transmission and Storegga.

The Vision is aimed at a diverse group of stakeholders, from investors to local businesses, government bodies and the general public.

It centres on four pillars – collaboration, transformation, decarbonisation and prosperity – that are underpinned by proximity.

Collaboration is central to the way businesses already operate in Peterhead, connecting local enterprise and a well-established supply chain. It is a place where academia, industry and government work together to drive innovation, solve complex challenges and unlock shared value.

With huge potential on its doorstep, Peterhead is leading the charge in transforming the energy sector – from digitalisation to decarbonisation to diversification, it is embracing new technologies and ways of working.

Through a raft of proposed energy transition projects, Peterhead is a key player in the transition to net zero for Scotland and the UK.

The energy transition is a shared goal, from economic, environmental and social perspectives. So this work is not only about achieving commercial success, but contributing to a thriving region, creating jobs, upskilling communities and fostering resilience.

Critically, Peterhead is strategically important for energy developments for several compelling reasons – geography, infrastructure and industry. Proximity to North Sea energy resources means immediate access to oil, gas and, increasingly, offshore wind assets, which in turn means reduced transit times and lower logistics costs among other advantages.

The Vision document can be viewed here.