Lydia Rainforth

Lydia Rainforth is a Managing Director and sector head of Barclays of European & Middle East Energy team. Lydia was voted #2 Oil & Gas analyst in the 2025 Europe Institutional Investor survey with the team also consistently ranked Top 3. Lydia regularly speaks at key industry events and facilitates dialogue at the highest levels of the sector. Key areas of focus include oil & gas markets fundamentals, energy transition and how the oil and gas industry adapts in an increasingly capital constrained world. The team has also delivered innovative work across the impact of AI on the energy industry. Lydia holds the CFA certificate in ESG investing, is a CFA charterholder and graduated with a first class degree from the University of Cambridge.

Session Overview

Thursday, 5 November

12:40

Finance & Investment Conference Room B 12:40 - 13:10

Energy M&A and infrastructure finance: value creation in oil & gas

The global energy, utilities and resources M&A market saw a significant shift in 2025: deal volumes fell by 2% while overall value increased by 27%, driven by 20 megadeals each valued above USD 5 billion. Activity spanned upstream oil and gas, midstream infrastructure, natural gas distribution, clean energy and power generation. Activity was set to accelerate into 2026 on AI and data-centre demand before geopolitical tensions altered the calculus. The logic driving transactions has changed. Energy security, supply chain control, critical minerals access and grid infrastructure are now primary drivers of deal value, sitting alongside traditional upstream and midstream consolidation rather than replacing it. As power, fuels, critical minerals and enabling infrastructure gain strategic importance, the investors and companies that reposition portfolios around these new drivers will be better placed to capture returns through the current cycle and beyond.

Attendee Insights:
Assess how the strategic logic of energy M&A has shifted toward security, supply chain control and critical minerals, and where private capital is being deployed in response.