ROVworld Subsea Information

Global Marine Systems Ltd. targets energy sector with new business unit
Date: Sunday, September 07, 2008 @ 07:54:01 EDT
Topic: ONSHORE NEWS


Global Marine Systems today confirmed its commitment to the rapidly expanding energy market with the creation of a new business unit, Global Marine Energy. Ian Gaitch, a long time Global Marine staff member, has been appointed the director of the new unit and will be responsible for building on the success Global Marine has already seen with partners and clients in the offshore wind farm, power and oil & gas industries.

"Ian has been core to developing our position in this important market to date. Given the significant potential in these markets for us it seemed that now, under his leadership, was the right time to create a division of our business with this exclusive focus," said Gabriel Ruhan, CEO of Global Marine Systems. "The initial success of our partnership with Visser & Smit is a great example of how this area of our business is evolving successfully, and the creation of Global Marine Energy signals the importance of this sector to our future growth."

The alternative energy sector is booming, thanks in part to the European Union's stated target of generating 20 per cent of energy from renewables by 2020. In the wind energy sector alone, last year about 20GW of new wind-generation capacity was built around the world, according to the Global Wind Energy Council.

However one of the key challenges for offshore sources of energy is the transference of power back to where it is needed most – urban and industrial centres on the mainland. Proper planning, installation and maintenance of power cables is therefore key to the success of such energy sources. Global Marine Energy will turn Global Marine's expertise, honed over 150 years of laying and maintaining subsea cables, towards power and communications cabling for offshore wind farms and oil & gas platforms around the world.

"Global Marine's depth of experience in subsea cabling is unparalleled," said Mr. Gaitch, "As a result, Global Marine Energy is uniquely positioned to help secure new sources of power for future generations, and I am relishing the opportunity to build this part of Global Marine's business over the coming years."

Mr. Gaitch will report directly to Gabriel Ruhan, CEO of Global Marine Systems, and will sit on the senior management team.





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