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achieving meaningful cost reduction, which would in turn unlock investment from both project Þ nanciers and the sup- ply chain. Unfortunately, there is no sin- gle answer to cost reduction and it will only be achieved through a combination of approaches including increased com-petition in the supply chain, higher reli-ability levels, new maintenance strategies and optimized wind turbine designs.There is evidence of new approaches in areas such as contracting strategy and risk sharing between project developers. Several major industrial players including Samsung and Areva are also in varying stages of development of new offshore wind turbines. This development should bring in- creased competition to an area currently dominated by a single player. Leveraging experience from the established offshore oil and gas sector is another promising development especially in areas such as offshore construction and maintenance activities. About the Author Dmitry Dovgan has a background in stra- tegic management and business analysis, with a wide experience in the energy indus- try. Before joining Douglas-Westwood he worked for a major oil & gas service provider and also applied his skills and experience at Scottish Enterprise, Scotland?s main economic development agency, where he worked on economic evaluation of opportu- nities for inward investments and delivered industry analysis in both renewables and the oil & gas sector. Prior to these Dmitry pur- sued a management career with a telecom software vendor, leading business analysis and strategy functions. Dmitry studied eco- nomics in Russia and Germany, and has an MBA from Aberdeen Business School. Offshore Wind Market Forecast 2013-2022 The report provides detailed mar- ket forecasts through to 2022 and is essential reading for companies working within the offshore wind sector. Report details: www.douglas-westwood. com/shop/shop-infopage. php?longref=1158 www.seadiscovery.com Marine Technology Reporter 35MTR #7 (34-49).indd 35MTR #7 (34-49).indd 358/26/2013 3:16:11 PM8/26/2013 3:16:11 PM