Business Developments & Projects
Polish and Ukrainian gas TSOs plot future cooperation, hydrogen and biomethane included
Polish and Ukrainian gas transmission system operators (TSOs) have discussed their future cooperation and issues related to natural gas transmission infrastructure in order to enhance energy security in the region. On 15 March, Poland’s GAZ-SYSTEM and the Gas Transmission System Operator of Ukraine
Norway-UK interconnector hits a snag with license application refusal
The Norwegian Ministry of Petroleum and Energy has rejected the license application for the construction and operation of a 1.4 GW overseas interconnector between Norway and the UK. The ministry reported on 16 March that after an overall assessment, it had come to the conclusion that there is no bas
IEA-OES: Ocean energy advancements made across the globe in 2022
Ocean Energy Systems (OES), a technology collaboration program within the International Energy Agency (IEA), has provided an overview of key achievements and progress made in the ocean energy sector in its new annual report for 2022.
EEC, Astander Shipyard pen MoU on green ship recycling
Netherlands-based Elegant Exit Company (EEC) has signed a Memorandum of Understanding (MoU) with Spain’s Astander Shipyard to collaborate on ship recycling initiatives. Located at the southern end of the Port of Santander, Northern coast of Spain, Astander is a shipyard with 130 years of expertise i
Hurricane Energy enters £249 million sale deal
UK’s Prax Exploration & Production has reached an agreement with compatriot Hurricane Energy for the acquisition of the North Sea-focused company for approximately £249 million. Hurricane Energy is focused on fractured basement reservoirs offshore West of Shetlands on the UK Continental Shelf and ho
First of six multi-fuel engines started on LNG-powered Icon of the Seas
A new milestone in the construction of the Icon of the Seas, Royal Caribbean International’s first LNG-powered cruise vessel, has been achieved with the start of the first multi-fuel engine at the Meyer Turku shipyard. Said to be the world’s most advanced and largest ship with environmentally-friend
Aramco and Linde Engineering to develop ammonia cracking technology
Energy company Aramco and gas and engineering company Linde Engineering have signed an agreement to jointly develop a new ammonia cracking technology, using their experience and capabilities in industrial research and development, lower-carbon hydrogen, and ammonia cracking technology. Aramco said t
TORM swoops in to buy three fuel-efficient MR product tankers
Danish shipping company TORM has inked a deal to acquire three 2013-built MR eco product tankers, pushing its fleet to 88 vessels. The company said the tankers will be bought for a total cash consideration of $48.5 million and the issuance of 1.42 million shares. As informed, the three vessels are a
BW Offshore wraps up sale of FPSO
Norway’s FPSO operator BW Offshore has completed the sale of a floating, production, storage, and offloading (FPSO) vessel to a buyer, whose name was not revealed.
With exploration farm-outs of higher risk wells being more common, Westwood urges buyers to beware
Westwood has advised buyers to be mindful of exploration farm-outs, after analysing the results of 419 high-impact exploration wells drilled outside the U.S. and Canada between 2017 and the end of October 2022.
RWE conducting seabed habitat survey for 3 GW offshore wind farm in UK
RWE is performing a benthic survey off the northeast coast of the UK, where the company plans to build its 3 GW Dogger Bank South (DBS) Offshore Wind Farm. According to a Notice to Mariners from the project, the developer has contracted Ocean Ecology to carry out the seabed habitat survey at the off
First electricity produced from Minesto’s second foundation in Faroe Islands
Swedish ocean energy developer Minesto has installed the tidal power plant Dragon 4 and generated the first electricity at the newly added second foundation in Vestmannasund, Faroe Islands. The production of the first electricity was revealed in Minesto’s update on the Vestmanna project on 14 March.
Subsea 7 buys more into Seaway 7, issues voluntary offer to acquire remaining shares
Subsea 7 has completed the acquisition of additional shares in Seaway 7, bringing its total ownership of the issued and outstanding share capital in the company to 93.94 per cent. On 14 March, Subsea 7 announced it had completed the acquisition of 187,889,551 shares in Seaway 7, corresponding to 21.
RMK lays keel for LNG Shipping’s 2nd bunker barge chartered by Shell
RMK Marine Shipyard in Tuzla, Turkey, has laid the keel for an 8000 m3 inland waterways liquified natural gas (LNG) bunker barge owned and operated by LNG Shipping (a joint venture between Victrol and Groupe Sogestran) and long-term time chartered by Shell. The companies said the barge, named LNG Er