Business Developments & Projects
Euronav wins green light for CMB.TECH’s acquisition
Euronav NV, the Belgian tanker shipping company, has secured approval for the acquisition of 100% of shares in cleantech maritime group CMB.TECH during a Special General Meeting held on February 7, 2024. The transaction, valued at $1.150 billion in cash, comes at a time of strategic transformation f
New hydrogen facility opens in Norwegian Egersund harbor
Norwegian companies Dalane Energi and Hydrogen Solution (HYDS) have launched a new hydrogen production facility in Egersund harbor as a part of the EU-funded ROBINSON H2020 project. The official opening ceremony of the hydrogen production plant was held in Grand Hotell Eigersund on February 8 in the
Norwegian oil & gas player to spud North Sea wildcat with Odfjell Drilling-managed rig
Norwegian authorities have handed out a drilling permit for an exploration well in the North Sea off Norway, which is expected to be spud this month using one of Odfjell Drilling-managed semi-submersible rigs.
Furetank to have entire fleet green as it orders two more Vinga tankers
Swedish shipping company Furetank has ordered two more dual-fuel Vinga product tankers in China.
NYK Stolt Tankers orders six battery- and methanol-ready chemical tankers in China
NYK Stolt Tankers (NST), a joint venture between shipping companies NYK Line and Stolt Tankers, has reached an agreement with Nantong Xiangyu Shipyard in China to build six 38,000 dwt stainless steel chemical tankers.
CIP and Norwegian partners plan large-scale hydrogen-based energy carriers production
Denmark’s Copenhagen Infrastructure Partners (CIP) has entered into an option agreement with Naturgassparken Vest, a real estate company jointly owned by CCB Energy and Norwegian Øygarden municipality, to establish the production of hydrogen-based energy carriers in the Energy Park. The agreement wa
Minesto’s megawatt-scale tidal energy kite is up and running
Minesto has commissioned its 1.2 MW, 25-ton Dragon 12 tidal energy kite, delivering the first electricity to the national grid in the Faroe Islands. Dragon 12 was commissioned in the early morning of February 9 and, according to Minesto, it generated electricity at satisfactory levels in its first p
EET Hydrogen, UK Government enter final talks on Ellesmere hydrogen plant
Essar Group’s EET Hydrogen, formerly Vertex Hydrogen, has signed a statement of principles with the UK Government’s Department for Energy Security and Net Zero for its flagship HPP1 low-carbon hydrogen plant in Ellesmere, entering final negotiations concerning the project, with a final decision expe
Innovate UK grants $1.9 million for wave energy project in Thailand
Swedish-Israeli wave energy developer Eco Wave Power Global (EWP) has announced winning a £1.5 million grant (almost $1.9 million) as a part of a consortium led by UK-based Toshiba and Aquatera, to design a pilot microgrid project for a remote island in Thailand. The grant is a part of round ten of
Samsung Engineering and Malaysian firm set on lending each other a helping hand in global tenders
The duo is combining forces for participation in worldwide tendering activity, which entails EPC projects in the oil and gas arena.
Varma invests in green transformation of ESL Shipping
Finland’s pension insurance company Varma Mutual Pension Insurance Company has agreed to co-invest €15 million alongside OP Finland Infrastructure LP in compatriot shipping company ESL Shipping, a subsidiary of Aspo Plc.
Germany and Algeria boost cooperation with new hydrogen pact
Germany and Algeria have signed a declaration of intent to establish a bilateral hydrogen task force as part of their energy partnership. Furthermore, there are plans for a hydrogen pilot plant installation. According to the German Federal Ministry for Economic Affairs and Climate Action (BMWK), the
KIVI: Shortage of skilled workers a potential showstopper in energy transition
A shortage of skilled workers could be a potential showstopper in the energy transition and the industry needs to be more connected to the educational level, according to Sjoerd Meijer, Advisor at Royal Institute of Engineers (KIVI).
Shell’s new projects benefiting from ABL’s ‘one-stop solution’ for asset management
Shell is set on employing a cloud-based master data build and optimization software from ABL across various new projects to achieve asset management efficiencies.