In the UK, the world's numebr offshore market, a number of high profile projects have been cancelled including the 1.2GW Atlantic Array, and the 4.2GW Celtic Array.
When asked if it was a concern for Siemens, Hannibal said: "We're always monitoring the development of projects. It will always be that you have some projects on the list, some will go into delays, some will progress.
"I don't pay that much attention to the soil condition factor. We're just looking at good chunk of projects to come and the track record of the industry has been that the good majority have followed a good development track. Some will be delayed due to soil or other reasons."
Hannibal also spoke about the company's desire to remain number one, despite a number of its competitors joining forces to take on Siemens in offshore.
He said: "It's hard to become number one. It's harder to stay number one."