Energy Cybersecurity Investment Surges as Threats Grow

The latest Energy Cyber Priority report by DNV Cyber reveals that energy companies are increasingly investing in cybersecurity to mitigate the significant risks posed by cyber threats. The report highlights that two-thirds of energy professionals consider cybersecurity as the most pressing risk to their businesses. As a result, more than 70% of energy companies are expected to boost their investment in cybersecurity this year.

Despite the growing awareness and investment in cybersecurity, challenges persist in the energy sector. The transition to digital technologies to drive the energy transition has expanded the attack surfaces for cyber threats. Operational technology (OT) cybersecurity is gaining more attention, with two-thirds of energy professionals anticipating increased investment in OT security in the coming year.

The report emphasizes the need for energy companies to double their cybersecurity efforts to address evolving risks and enable transformation. It identifies five key challenges that companies must overcome, including securing physical infrastructure, managing complex cybersecurity supply chains, enhancing employee vigilance, embedding new skills in the workforce, and embracing AI. As cyber threats become more sophisticated, energy companies must continue to strengthen their cybersecurity posture to remain resilient.

In conclusion, the energy industry is facing increasing cybersecurity risks due to the digitalization of technologies and geopolitical tensions. The report highlights a shift in attitudes among energy professionals, with half of them believing that accepting additional cyber risk is necessary for innovation. With concerns rising about attacks from foreign powers, cyber-criminal gangs, and malicious insiders, energy companies must prioritize cybersecurity to achieve their climate goals and ensure energy security in an increasingly hostile and uncertain world.

Source