Business Developments & Projects
Following incident, Balticconnector pipeline capacity getting a boost to strengthen regional gas system
Gasgrid and Elering have revealed an increase in the technical capacity of the Balticconnector interconnection point.
N-Sea bolsters its subsea offering by prolonging charter deal for 2010-built vessel
N-Sea has extended its long-term charter agreement for a 73.2-meter-long and 16.5-meter-wide DP2 survey vessel.
Lhyfe secures €14 million grant to build its first hydrogen plant in Spain
French hydrogen producer Lhyfe has been awarded a grant of up to €14 million to develop its first green hydrogen production plant in Spain. The grant was awarded H2 Pioneros, a funding call created in Spain to support initiatives in renewable energy, green hydrogen, and energy storage. Lhyfe’s proje
‘Herculean effort’ needed to unleash CCUS at scale, but repurposing North Sea oil & gas infrastructure offers a boon for Europe
Xodus has unveiled a new whitepaper, which was produced in partnership with Subsea7 and designed as a tool for assessing the relative cost efficiency of carbon capture, utilization, and storage (CCUS) projects and the timeline for their viability.
Everfuel: HySynergy 1 on track for start-up in first quarter of 2024
Danish green hydrogen company Everfuel is progressing with work to start up its flagship project HySynergy 1 in the first quarter of 2024 and implement a realigned strategy focused on scaling green hydrogen production. On November 22, the company published its third quarter 2023 financial results, s
Frontline completes exit from Euronav as Belgian tanker major opens ‘new chapter’ under Alexander Saverys’ reins
Norwegian tanker major Frontline has completed the sale of its stake in Euronav cementing the acquisition of a fleet of 24 ECO very large crude carriers (VLCCs) from the company and formally becoming the largest pure-play tanker owner in the public domain measured by dwt. The transaction is part of
While pursuing more renewable power, Türkiye boosts gas production with new Black Sea platform
Türkiye believes that more oil and natural gas, especially LNG, go hand in hand with decarbonization and the buildout of green energy.
Meyer Werft steps into offshore wind market with new steel construction deal
German shipbuilding company Meyer Werft has been awarded its first contract for steel construction work for four of Amprion’s offshore converter platforms.
EMEC launches restructuring as it awaits for more favorable tides
The European Marine Energy Centre (EMEC), the world’s first and leading facility for demonstrating and testing wave and tidal energy converters, has started consultations with its staff to restructure the company.
Nautical charts of the future will make shipping safer and more sustainable
The Federal Maritime and Hydrographic Agency (BSH), a central maritime authority in Germany, is developing the next generation of electronic nautical charts in an effort to make shipping safer, more efficient and sustainable.
Emerson invests in Frugal Technologies to cut fuel consumption in shipping
The US-based global automation technology company Emerson has made a strategic investment in Frugal Technologies, a Danish company offering fuel optimization technologies.
North Sea represents £20 billion business opportunity for decom industry, says UK trade body
OEUK’s report: Shutting down obsolete North Sea energy installations is a business opportunity worth over £20 billion over the next decade.
Petrobras and Shearwater set up partnership to ‘reshape’ seismic exploration
Norway’s Shearwater GeoServices and Brazilian state-owned oil and gas giant Petrobras have entered into a multi-year collaborative technology agreement aimed at reshaping seismic exploration and field developments in Brazil. The commitment will encompass the industrialization of Shearwater’s marine
Equinor: Oil & gas activities bode well for Norway with ‘strong’ ripple effects bringing billions of dollars
Deliveries to exploration, operation, and modification of Equinor’s operated fields and onshore plants in Norway exceeded NOK 93 bln in 2022.