Business Developments & Projects
De Bock Maritiem orders two diesel-electric coasters
Dutch shipping company De Bock Maritiem has signed contracts for the construction of two diesel-electric seagoing vessels that will enable the company to halve its CO2 emissions. The 3,600-tonne vessels were designed by the Dutch Conoship International and they will be built by the Holland Shipyards
Joint venture set up for Italy’s first carbon capture and storage project
Italy’s oil and gas giant Eni and energy infrastructure operator Snam have formed a joint venture to develop the first carbon capture and storage (CCS) project in Italy. Eni CEO Claudio Descalzi and Snam CEO Stefano Venier signed an agreement on 19 December to jointly develop and manage Phase 1 of t
IMO designates the Mediterranean Sea as an emission control area
The Mediterranean Sea has been designated as an Emission Control Area for Sulphur Oxides and particulate matter at last week’s MEPC 79th session. The designation means that as of 1 May 2025 ships will be required to use marine fuel with reduced sulphur content. The permissible sulphur content will f
Germany’s first LNG terminal launched after ten-month work
Germany’s first floating terminal for importing liquefied natural gas (LNG) in Wilhelmshaven has officially been commissioned for service. On 17 December, German energy major Uniper informed that the terminal was launched and that even before Christmas, LNG will be re-gasified and conveyed via the n
German Federal Government concludes Uniper agreement
Today, the German Federal Government and energy company Uniper have concluded a framework agreement to concretize the measures to stabilise Uniper agreed between the Federal Government, Uniper, and Fortum on 21 September 2022. Under the agreement, German’s Federal Ministry of Finance will be respons
K Line hires CO2 carrier newbuilds intended for world’s 1st full-scale CCS project
Japanese shipping major Kawasaki Kisen Kaisha (K Line) has entered into bareboat and time charter contracts with Northern Lights JV DA for two 7,500 m3 liquefied CO2 ships under construction in China. China’s Dalian Shipbuilding Industry Co. (DSIC) launched the construction of the two LNG-powered, w
Ofgem withdraws cap and floor regime for 1.4 GW interconnector
UK energy market regulator Ofgem has withdrawn the cap and floor regime awarded in principle for a 1.4 GW interconnector due to the project having encountered “significant delays”.
Lubmin LNG terminal receives FSRU as operator expects start-up by the end of month
Floating storage and regasification unit (FSRU) Neptune has arrived at the industrial port of Lubmin in Germany, signalling that the tests can soon begin at the country’s first and so far only privately financed LNG terminal. Deutsche ReGas, the developer of the Lubming LNG terminal, informed that t
Black Sea subsea link to connect Azerbaijan’s offshore wind farms with Romania, Hungary
On 17 December, the governments of Azerbaijan, Georgia, Romania, and Hungary entered into an agreement under which the four countries committed to bringing forward a subsea link in the Black Sea that will, among other things, transfer electricity from future offshore wind farms in Azerbaijan’s part
Researchers roll out tool for streamlined tidal turbine life cycle assessment
Researchers from the University of Exeter have developed a new tool to streamline the life cycle assessment of tidal turbine deployments.
Offshore drilling contractor taps Scana company for deep-water riser system
Scana-owned PSW Technology has signed an agreement with offshore drilling contractor Northern Ocean Operations for the sale of a complete marine riser system for ultra-deep-water operations. The contract includes project management, inspection, repair and logistics of the marine riser system. Work s
EU poised to start taxing shipping emissions in 2024
In the final round of talks over the weekend, the EU Council and the European Parliament hammered out a provisional political agreement on legislative proposals of the ‘Fit for 55’ package that aim to further reduce emissions and address their social impacts. The ‘Fit for 55’ package is aimed at ena
Subsea 7 scores trifecta with Aker BP
Norwegian oil and gas company Aker BP has awarded Subsea 7 with three contracts for the delivery of equipment and installation services for projects located offshore Norway. Subsea 7 confirmed the award of a “major” contract for the Yggdrasil field development project, formerly NOAKA, a “large” cont
North Sea operators fined amid crackdown on risks to UK’s net-zero and energy security
UK’s regulator North Sea Transition Authority (NSTA) has fined EnQuest, Equinor, and Spirit Energy a total of £265,000 or $322,437.