ABSTRACT
This chapter presents the cyber security threats affecting the energy industry and examines the impact from a security, economic, and commercial perspective. Massive analytics and big data systems are used by energy conglomerates, who are increasingly relying on cyber systems to increase visibility and real-time monitoring and controlling of their supply chains. The risks and benefits of supply chain integration are duly discussed, together with the impacts of cyber-criminal activities, including Cyber-Terrorism; Cyber-Subversion, Cyber-Sabotage, and Organized Crime (Cyber TESSOC).
Big data storage presents enormous opportunities for efficiency in the era of supply chain integration. Some of the risks are presented are due to the fact that the supply chains of data and access to this data is virtual, hence cannot always be controlled. Data is compromised when companies undergo restructuring, mergers and acquisitions, insolvency or bankruptcy.
The chapter concludes with the advantages, risks, and suggestions pertaining to cyber security in the energy industry. Statistical information and examples of cyber attacks are included to demonstrate the current developments in cyber security and to pinpoint future trends.
