Capital and operating costs have experienced high inflation over the past year, not only in upstream oil and gas developments but also for a variety of energy transition technologies as well. Supplier priorities shifted as they adapted to a low-demand environment, and with the sudden rush of orders operators are facing unexpectedly high costs and long lead times, both of which have had a severe impact on the economic viability of their projects. How are procurement strategies changing? How will supply chains need to adapt? What strategies may operators take to mitigate risk and reduce costs?