Business Developments & Projects
TECO 2030 receives its first future funnel order
Norway’s cleantech company TECO 2030 has received its first future funnel purchase order, valued at NOK 5.5 million (€0.5 million), from an undisclosed European shipowner. The estimated delivery of the future funnel, TECO 2030 Model 8, is at the end of Q1, the beginning of Q2 2023, and TECO 2030’s t
Europe launches €40 million call for demonstration of tidal energy farms
The European Union has launched a funding call under its Horizon Europe program, looking for tidal energy farm demonstration projects, as it aims to improve market confidence and sustainability of tidal energy technology.
In focus: Oil and gas electrification gains ground as offshore energies forge closer ties
Offshore energy industries, which up until recently had little in common, are becoming increasingly intertwined as governments and private sectors step up their game for a more integrated and sustainable energy mix of the future.
Hellenic Cables to interconnect two Greek islands
Hellenic Cables, the cables segment of Cenergy Holdings, has been hired by the Greek Independent Power Transmission Operator (IPTO) to deliver the electrical interconnection between Ionian islands of Kyllini and Zakynthos.
Plans unveiled for investments of $20.4 billion in ten oil & gas projects
Aker BP has submitted a PIO and ten PDOs for oil and gas projects to the Norwegian Ministry of Petroleum and Energy.
Europe’s largest electrolyser HySynergy sees its first hydrogen production
Danish green hydrogen provider Everfuel has announced the production of the first hydrogen at Europe’s largest electrolyser, a 20 MW HySynergy facility in Fredericia, Denmark. According to Everfuel, the hydrogen was produced from the first set of electrolyser stacks as part of the planned start-up a
IMO fails to adopt more ambitious 2050 target
The IMO failed to adopt a concrete shipping decarbonisation target for shipping this week following the Marine Environment Protection Committee (MEPC 79) meeting that ended earlier today. The support from the member countries for eliminating the industry’s emissions by 2050 and for setting interim t
Rotech Subsea concludes cable job offshore Denmark
Rotech Subsea has successfully carried out the cable cut and recovery operation at an offshore wind farm in Denmark.
Valaris’ new rig deals bring total backlog of $275 million
Valaris has been awarded new contracts for a drillship and three jack-up rigs and contract extensions for three more rigs.
Clarksons: 93 pct of car carrier newbuilds LNG capable, 23 pct ammonia/methanol ready
Car carrier newbuild ordering has increased significantly in 2021 and 2022 on record markets and the resumption of owners’ fleet renewal programmes, including efforts to support manufacturers to become ‘green through the supply chain’. The market recovery is primarily driven by post-covid car trade
Nordic gas TSOs, offshore wind developers plan giant green hydrogen infrastructure project in Baltic Sea
The Finnish and Swedish gas transmission system operators (TSOs) Gasgrid Finland and Nordion Energi, and offshore wind developers OX2 and Copenhagen Infrastructure Partners (CIP) have entered into an agreement to investigate the development of large-scale offshore hydrogen pipeline infrastructure co
Lhyfe and Schaeffler enter multi-deal partnership, hydrogen included
German automotive and industrial supplier Schaeffler has signed a letter of intent (LOI) with French hydrogen producer Lhyfe that includes a technology partnership, green hydrogen, and a 15 MW industrial electrolysis plant in Herzogenaurach, Germany. The first part of the agreement is in regard to g
FFI and Azerbaijan exploring green hydrogen projects
Fortescue Future Industries (FFI), a subsidiary of Australian iron ore company Fortescue Metals Group, and the Ministry of Energy of the Republic of Azerbaijan have signed a framework agreement to jointly study and develop potential green hydrogen and renewable energy projects in Azerbaijan. The agr
Digitized, net zero ships at the core of Fincantieri’s new business strategy
Italian shipbuilder Fincantieri has laid out its strategy for the upcoming period putting a major focus on building up its competencies in the construction of digital and net zero ships. The company’s 2023-2027 Business Plan aims to create greater synergies between the company’s cruise, defense, and