Business Developments & Projects
EU earmarks €2.2 billion in hydrogen funding for spring 2024
The President of the European Commission (EC) Ursula von der Leyen has announced new investments into the hydrogen industry, including €2.2 billion worth of funding reserved for the spring of 2024. During a speech at the European Hydrogen Week 2023, via video message, von der Leyen said that the hyd
Diana Shipping to trial carbon capture system on Capesize bulker with Ecochlor and Sinotech
Greek dry bulk shipping company Diana Shipping is set to test a carbon capture system (CCS) onboard one of its capesize bulk carriers in cooperation with Ecochlor and Sinotech CCS. The trio has signed a Letter of Intent (LOI) for the installation of a Sinotech scrubber and CCS system onboard Diana’s
Subsea7 tendering work for ‘major’ EPCI projects with offshore activity in 2026 and beyond
Subsea7 has reported revenue of $1.6 billion for the third quarter of the year, an increase of $174 million or 12% compared to the same period in 2022, mainly due to significantly increased activity in the Subsea and Conventional business unit. With this, the company said it was on track to meet gui
World’s first cost-efficient green methanol pilot plant inaugurated in Germany
The German research consortium has inaugurated the world’s first pilot plant for the cost-efficient production of green methanol in the Leuna Chemical Park. The pilot plant was inaugurated on November 20 as part of the Leuna100 project which was launched in the Leuna Chemical Park in August 2023 and
KCA Deutag in charge of electrification project enabling Equinor to get its first onshore powered rig
KCA Deutag’s Kenera business unit has been hired for a rig electrification project by Norway’s state-owned energy giant Equinor.
Stolt Tankers orders six future-proof parcel tankers in China
Tanker operator Stolt Tankers, part of Stolt-Nielsen Limited, has ordered six 38,000 dwt stainless steel parcel tankers in China.
Danish Shipping: EU’s new rules on waste export open doors for responsible ship recycling
The new agreement on waste shipments between the European Council and Parliament will make it possible to responsibly recycle EU-flagged ships outside the EU and OECD, trade and employer association Danish Shipping said.
Danish Energy Agency makes new decision on PtX tender winners as one company fails to meet contractual obligations
The Danish Energy Agency (DEA) has made a new decision regarding the winners of Denmark’s first Power-to-X (PtX) tender as it turned out that one of the winners, namely Plug Power Idomlund Denmark, can not meet the condition of providing a bank guarantee, meaning the company is no longer the winner
NSEC countries ‘unlikely’ to meet 2030 offshore wind target without immediate action on port development, study says
A new report from the North Seas Energy Cooperation (NSEC) calls for “immediate action” on developing new port infrastructure and upgrading existing port facilities as the study behind the report found the joint offshore wind target of the nine NSEC countries for 2030 is unlikely to be met otherwise
Hy2gen and Amogy team up on ammonia-powered energy solutions
Hy2gen Norge, a subsidiary of hydrogen company Hy2gen, and Amogy, an ammonia power solutions company, have signed a memorandum of understanding (MoU) to collaborate in the field of renewable ammonia in Norway. The agreement encompasses the pooling of resources to advance the use of renewable ammonia
Green light for Vår Energi to kick off drilling ops with Transocean rig
Vår Energi has received consent to use one of Transocean’s semi-submersible rigs on a field located in the Barents Sea.
KNCC says its LCO2-EP technology is proven and ready for commercialization
Knutsen NYK Carbon Carriers AS (KNCC), a joint venture established last year between Japanese shipping major NYK and Norway’s Knutsen Group to transport liquid CO2, revealed that its LCO2-EP technology to store and transport liquefied CO2 at ambient temperature tested and proved at the test-rig faci
Egyptian govt taps Jan De Nul for Egypt-Europe undersea export cable
Jan De Nul has signed an agreement with the Egyptian government, represented by the Egyptian Electricity Transmission Company (EETC), to start a study for the construction of an undersea export cable between Egypt and Europe. In late September, the Egyptian government reaffirmed its plans to build a
Marine Energy Wales applauds price increase for offshore renewables in next CfD auction
Marine Energy Wales has welcomed the increase in administrative strike prices for offshore wind and tidal energy in the next UK government’s contracts for difference (CfD) allocation round.