Business & Finance
Ørsted acquires full ownership of Europe’s largest green electrofuel project with FID in place
Swedish green electrofuels developer Liquid Wind has informed that its partner, Danish offshore wind developer Ørsted, will acquire full ownership of the FlagshipONE project, the largest green electrofuel facility in Europe that has reached a final investment decision (FID). The project was develope
European energy ministers agree to cap gas prices
European energy ministers have reached a political agreement under which the price of natural gas in the European Union will be capped in case it reaches excessive levels that do not reflect world market prices. The mechanism will be automatically activated in case the month-ahead price on the Title
NextDecade and Galp ink 20-year LNG sale and purchase deal
US energy company NextDecade has signed a long-term sale and purchase agreement with Portuguese counterpart Galp for the supply of liquefied natural gas (LNG) from its Rio Grande LNG export project in Brownsville, Texas. Under the 20-year agreement, Galp will purchase 1.0 million tonnes per annum (m
Ocean Sun gets government grant to advance floating solar technology
Norwegian company Ocean Sun has received a grant from the Research Council of Norway to further develop its floating solar technology.
Norway and France forge ties on carbon capture and storage
The governments of Norway and France have signed a letter of intent (LoI) to cooperate on the development and deployment of carbon capture and storage (CCS). The aim of the agreement is to promote the development of CCS by creating a framework for cooperation between the two countries to facilitate
Aker Solutions breaks order intake record with new Aker BP contracts
Norwegian oilfield services provider Aker Solutions has secured multiple contracts with compatriot oil and gas company Aker BP, which combined represent the largest value of contract awards in a single quarter in its history. Following Aker BP’s submission of plans for development and operation (PDO
TECO 2030 and thyssenkrupp sign fuel cell production line contract
Norwegian cleantech company TECO 2030 has signed a contract with Germany’s engineering company thyssenkrupp Automation Engineering for the delivery of the first complete fuel cell stack production line at the TECO 2030 Innovation Centre in Narvik, Norway. The contract entails the design, manufacturi
SAL Heavy Lift’s newbuilds to run on Wärtsilä’s hybrid propulsion systems & methanol engines
Finnish technology company Wärtsilä has won a contract to supply its hybrid propulsion system for four new heavy lift vessels being built at the Wuhu Shipyard in China. The Orca Class vessels have been contracted by SAL Heavy Lift GmbH, a German heavy lift and project cargo specialist and part of th
Equinor extends LNG bunkering deal with Gasum
Norwegian energy company Equinor has confirmed its intention to exercise the option to extend its liquefied natural gas (LNG) bunkering contract with Finnish gas company Gasum. According to a social media update, Gasum will continue to serve Equinor’s LNG-powered offshore vessels along the Norwegian
Eight new wells in Trillion’s next year plan
Canadian oil and gas producer Trillion Energy is planning to bring on eight new wells or workovers into production next year through continuous drilling on a natural gas field in the Black Sea offshore Türkiye. Bringing what the company describes as a “transformative year” to an end, Trillion announ
Finland injects €80 mln in Meyer Turku to overcome hurdles caused by Russia’s war in Ukraine
Finland’s largest shipbuilder Meyer Turku is getting an €80 million ($85 million) financial lifeline from the Finnish government to overcome liquidity challenges caused by the ongoing geopolitical situation caused by Russia’s war in Ukraine. The European Commission approved the recapitalization meas
Serica Energy buying North Sea operator in £367 million deal
UK-based oil and gas company Serica Energy has entered into an agreement with compatriot Tailwind Energy Holdings to acquire the entire issued share capital of Tailwind Energy Investments in a deal worth approximately £367 million. The consideration for the acquisition comprises the issue of up to 1
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