"Major SURF players like Subsea7 and Saipem are in a great position to capitalize on this trend, having managed already to diversify from being pure oil and gas players to become substantial drivers within the energy transition. This segment will increasingly occupy vessel capacity from the installation fleet, likely causing a significant jump in service prices and exacerbating the contractual challenges faced by operators," Martinsen explains. "Offshore gas and LNG projects will also add to the rising demand for services, as we forecast that these projects will require the installation of about 1000 km per year of export pipelines linking offshore fields to onshore facilities over the next few years." Rystad Energy forecasts capacity constraints among key vendors in the LNG market, as well, implying new projects could risk significant delays.