The Growing Importance of Cybersecurity in the Energy Sector

In today’s digital age, cybersecurity has become a top priority for energy companies around the world. The latest Energy Cyber Priority report from DNV Cyber highlights the increasing investment in cybersecurity as the industry faces the greatest risk from cyber threats.

Leadership Taking Cyber Threats Seriously

The report reveals that two-thirds of energy professionals consider cybersecurity to be the greatest current risk to their business. This heightened awareness has led to a significant increase in investment in cybersecurity measures, with 71% of professionals expecting their companies to boost cybersecurity spending this year.

Moreover, 78% of energy professionals believe that their leaders have a solid understanding of cyber risks. Employee training programs have played a crucial role in raising awareness, with 84% of professionals stating that they know how to respond to potential cyber threats effectively.

Focus on Operational Technology (OT) Security

As the energy industry embraces digital transformation, the focus on securing operational technology (OT) systems has intensified. Two-thirds of professionals anticipate increased investment in OT security in the coming year, highlighting the industry’s commitment to safeguarding critical infrastructure.

Challenges and Opportunities

While progress has been made in strengthening cybersecurity defenses, challenges persist as the energy transition introduces new vulnerabilities. The rapid adoption of digital technologies has expanded the attack surface for cyber threats, necessitating a proactive approach to cybersecurity.

Ditlev Engel, CEO of Energy Systems at DNV, emphasizes the importance of cybersecurity in achieving the energy transition and ensuring energy security amidst geopolitical uncertainties. He underscores the need for all stakeholders in the energy sector to prioritize cybersecurity to meet climate goals and mitigate risks.

Adapting to Evolving Threat Landscape

The report highlights that energy companies must enhance their cybersecurity efforts to address five key challenges, including securing physical infrastructure, managing complex supply chains, fostering employee vigilance, developing new skills, and leveraging AI technologies.

Auke Huistra, Director of Industrial and OT Cybersecurity at DNV Cyber, emphasizes the need for the energy industry to remain vigilant against sophisticated threats. As adversaries evolve their tactics, energy companies must adapt and strengthen their defenses to safeguard critical assets.

Conclusion

As the energy sector navigates the complex landscape of digital transformation and cybersecurity risks, proactive measures are essential to protect against emerging threats. By prioritizing cybersecurity, energy companies can enhance resilience, mitigate risks, and drive sustainable innovation in the evolving energy landscape.