Business Developments & Projects
Special purpose company established for potential Greek-Saudi electricity interconnector
Greece and Saudi Arabia have officially established a special purpose company for exploring the feasibility of an electricity interconnector between the two countries. The special purpose company Saudi Greek Interconnection was established by the Greek electricity grid operator Independent Power Tra
Smyril Line orders two e-methanol-ready RoRo ships in China
Faroese shipping company Smyril Line has signed a contract with China’s shipbuilder CIMC Raffles for the construction of two environmentally friendly roll-on/roll-off (RoRo) ships.
TGE completes mechanical work on China’s Huizhou LNG terminal
TGE Gas Engineering, an engineering, procurement and construction (EPC) contractor for the storage and handling of liquefied gases, has reached the mechanical completion of the Huizhou LNG receiving terminal EPC project. The milestone was achieved 20 days earlier than contractually initiated, TGE sa
TotalEnergies achieves ‘robust’ multi-billion profit while balancing energy transition scales
TotalEnergies has managed to tuck strong financial and operating results for the fourth quarter and full year 2023 under its belt.
EST-Floattech Octopus battery system for SFK’s electric ferry Laboe
Dutch energy storage systems provider EST-Floattech has announced the delivery and commissioning of the Octopus Series battery system on the SFK Ferry Laboe.
CCS, nuclear come under fire as EU sets 2040 climate goals, broadens scope of Net-Zero Industry Act
The European Council and Parliament reached a provision deal on Tuesday, February 6, on the ‘net-zero industry act’ (NZIA), a regulation that establishes a framework of measures for strengthening Europe’s net-zero technology products manufacturing ecosystem. The regulation aims at boosting the indus
Centrica concludes LNG supply deal with Repsol
UK’s Centrica Energy and Spain’s Repsol have signed an LNG supply deal that will see Centrica purchase 1 million tons of LNG shipments between 2025 and 2027. According to Centrica, all of the cargos are expected to be delivered to the Grain LNG import terminal, which is expected to soon have enough
UK’s Freeport East and Australia’s Rux Energy sign hydrogen pact
Freeport East, one of twelve Freeports established in the UK, and Australian green hydrogen storage company Rux Energy have signed a collaboration agreement to achieve the safe storage, distribution, and supply of low-carbon hydrogen within the UK and exporting green hydrogen across the world. The a
Sulmara and Asso.subsea shake hands for multi-year collaboration
Scottish subsea surveys and inspections provider Sulmara and Greek Asso.subsea have signed a master service agreement to collaborate on cable installation operations globally.As part of the multi-year collaboration, Sulmara will support Asso.subsea during cable installation operations and will provi
Carnival inches close to its 2030 emission reduction targets
The world’s largest cruise company Carnival Corporation & plc is on track to achieve an overall 18% reduction in greenhouse gas (GHG) emission intensity on a lower berth capacity basis in 2024 compared to 2019. The achievement is just a few points shy of its 20% reduction goal originally targeted fo
Sweden closes investigation on Nord Stream pipeline incident
Sweden has decided to close its investigation concerning the explosions on the Nord Stream 1 and 2 gas pipelines that occurred in September 2022. Germany, Sweden and Denmark each initiated respective national investigations into the incident after four gas leaks were found on the Nord Stream 1 and 2
New industry-academia collab wants to reduce cost of green hydrogen production
Spanish materials technology company Matteco has partnered with Siemens Energy and Horiba, as well as the Institute of Molecular Sciences (ICMol) of the University of Valencia, and the Helmholtz Institute Erlangen-Nuremberg for Renewable Energies (HI ERN) to develop a sustainable, efficient, and sca
New UK-Belgian joint venture buys 25-year-old cable-layer
UK’s Enshore Subsea and Belgian Herbosch-Kiere have partnered to purchase a 25-year-old cable-laying vessel (CLV) in a newly created joint venture. Herbosch-Kiere and Enshore Subsea have purchased the 1999-built, 88-meter-long Topaz Installer vessel, set to be renamed CMOS Installer. The vessel is m
CoolCo seals new 12-month LNG carrier charter deal
Cool Company (CoolCo), an owner, operator, and manager of LNG carriers, has secured a new time charter agreement with Santos Shipping Singapore for one of its TFDE vessels that will undergo LNGe upgrades to reduce emissions. The 12-month charter agreement is scheduled to commence in the first quarte