Business Developments & Projects
Stolt Tankers joins Science Based Targets initiative
Tanker operator Stolt Tankers, part of London-based transportation group Stolt-Nielsen Limited, revealed it has committed to developing science-based targets to help achieve net zero in the maritime sector.
Equinor’s H2M Eemshaven project to reform natural gas to hydrogen with CCS
Norwegian energy major Equinor and global industrial gases and engineering company Linde have signed a project development agreement to work as partners on the H2M Eemshaven low-carbon hydrogen project in the Netherlands. Equinor’s H2M Eemshaven project aims to build a production facility in the Eem
Only Barents Sea CO2 exploration license gets new operator
The Norwegian Ministry of Energy has approved PGNiG Upstream Norway (PUN), part of Poland’s ORLEN Group, as operator and partner with Horisont Energi in the only CO2 storage located in the Barents Sea. Horisont Energi and PUN announced a sales purchase agreement on December 11, 2023, making PUN a li
Flex LNG eyes ‘more attractive’ deal for Flex Constellation as current charter comes to an end
LNG shipping company Flex LNG will take redelivery of the 2019-built Flex Constellation as the carrier’s current charterer, a trading house, has decided not to exercise its extension option. Flex Constellation was fixed on a three-year time charter on May 17, 2021, with an option to extend the perio
Denmark launches Green Fuels Alliance India
Denmark has announced its Green Fuels Alliance India (GFAI) initiative in a bid to boost collaborative efforts between the two countries in the sustainable energy solutions sector and advance their joint global goal towards carbon neutrality.
Ciel & Terre starts construction of first floating solar power plant in France’s Isère
Ciel & Terre (Ciel et Terre) has started building a new floating solar power plant in Saint-Savin, southeast of Lyon, France. The 11 MW project, developed in collaboration with Energ’Isère and GenSun, will transform a quarry lake into a renewable energy hub. Once completed, the project will take th
KN takes over commercial management of four German LNG terminals
Lithuanian energy terminal operator Klaipedos Nafta (KN) has secured the public tender for the commercial management of four German liquefied natural gas (LNG) terminals on the North Sea coast. Specifically, the company has signed a contract with German state-owned Deutsche Energy Terminal (DET), wh
First oil gushes out of ONGC’s deepwater development
India’s ONGC has achieved the first oil from a deepwater block off the coast of the Bay of Bengal, which is said to be the largest bay water region in the world.
Provaris appoints DNV for hydrogen carrier FEED review
Provaris Energy is advancing works on its proprietary H2Neo hydrogen carrier and hydrogen cargo containment system and has now engaged classification society DNV to issue a front-end engineering design (FEED) statement. Last summer, Provaris kicked off the program for the construction and testing of
Wheels in motion to prolong BW Offshore FPSO’s North Sea gig
BW Offshore has confirmed the lay of the land for the extension of a contract for an FPSO vessel beyond the currently fixed term.
December brings international offshore rig count activity to a standstill
Baker Hughes’ rig count report shows that no new rigs joined the working fleet in December 2023.
Clarksons: 2023 a positive year for shipping as China delivers 50% of shipbuilding output
Seaborne trade has witnessed a notable uptick in 2023, registering a 3% increase to a $12.4 billion, according to data from Clarksons Research. The global maritime landscape further unveils a 3% growth in the world fleet, reaching an 2.3 billion deadweight tons (dwt). Despite this expansion, the new
Vitol and GAIL pen long-term LNG supply deal into India
Vitol Asia, a unit of a Switzerland-based energy and commodities company Vitol, and GAIL (India), the largest natural gas supplier under India’s Ministry of Petroleum and Natural Gas, have signed a deal for the annual supply of approximately one million metric tons of LNG for a period of approximate
Höegh LNG to continue providing FSRU services in Colombia
Norwegian owner and operator of LNG carriers and FSRUs Höegh LNG has extended and expanded its services to LNG import terminal Sociedad Portuaria el Cayao (SPEC LNG) in Cartagena, Colombia. Höegh LNG said the agreement with SPEC enables continuity and increase of energy supply through at least 2031,