It will be almost impossible for greenfield projects to make a decent dent in global energy supply shortfalls before 2025, regardless of whether they are renewables or fossil fuel schemes, according to the head of a US energy consultancy.

As economies recover after the worst of the Covid-19 pandemic, there is an energy shortage due to years of under-investment which means that - exacerbated by the Ukraine crisis - energy prices are rising.

Despite moves to make up for this shortfall in the short term, a study carried out by Rob West, chief executive of Thunder Said Energy, concluded: "There is little hope of adding material new energy supplies into the market via greenfield projects before 2025, regardless of which energy resource you choose."