LNG shipping rates reaching a record high in January, cargo prices rising faster than Bitcoin and LNG being part of the ‘clean or green’ debate all make the commercial LNG sector of the energy market an exciting and dynamic space right now.
This is having a positive impact and increasing demand and competition within the job market. As part of our annual employment analysis, we undertook research to understand the DNA of LNG trading and shipping teams across UK, Europe and Asia.
Using desk research and interviews with LNG trading professionals, we analysed trading team structures, as well as the educational background of new and existing team members. We also analysed the Diversity of trading teams within the sector and made some positive discoveries.
It is widely accepted that greater diversity at all levels of any organisation brings a raft of benefits. Diversity is not just a gender issue; it’s a business-critical issue.
“Diversity and Inclusion is a clear a priority for our clients in terms of candidate potential, not at the expense of skills” – Anthony Baron, Director, Eleven Recruitment
With that in mind, it’s encouraging to see our research shows that today’s LNG trading and shipping teams have the highest proportion of female professionals across the energy trading spectrum – but why?
And why is female representation at senior level in Asia so much higher than in the UK or mainland Europe?
The LNG trading landscape is earlier in its development than that of oil for example. LNG is already one step ahead of its energy counterparts in embracing a different style of employment and leadership, meaning that under-represented groups don’t face the same barriers as in other parts of the energy market. This could be explained by less unconscious bias.
There are various factors at play which may explain the significant difference between Asia and Europe – again the Asian LNG market is booming and less mature than in Europe. A stronger focus on STEM education in general may mean companies are more open to women in roles that require a STEM background. Interestingly our research showed many of the women in senior positions in Asia are European ex-pats, perhaps able to exploit opportunities less accessible in other locations. There is clearly still a lot to uncover here.
There is still room for improvement, however. Companies are under increasing pressure to have a more diverse workforce, particularly at a senior level, so it is a key priority for the senior HR professionals that we have spoken to.
Furthermore, it’s not just the male/female mix we have seen as important in the make-up of teams: the importance of diversity must also include educational background and ethnicity, amongst others.
If you would like to find out more about our LNG research or need help with diversity & inclusion research into this or other sectors of the energy market, please get in touch with me on firstname.lastname@example.org or +44 (0)1565 626767, or contact another member of the Eleven Recruitment LNG Team.