Business & Finance
Uniper partners with NewMed Energy on LNG and hydrogen to minimise energy crisis
German energy company Uniper and Israel’s NewMed Energy will explore ways of collaborating on the supply of liquefied natural gas (LNG) in the short and long term and producing blue and green hydrogen. The parties have signed a non-binding memorandum of understanding (MoU) to look into the supply of
EIB to back Italy’s subsea link with €1.9 billion
Italian transmission system operator (TSO) Terna and the European Investment Bank (EIB) have signed a €500 million finance contract for the east section of the Tyrrhenian Link connecting Sicily with Campania. The loan is the first tranche of a total of €1.9 billion approved by the EIB for the Tyrrhe
Prysmian expands cable-laying fleet
Prysmian Group has expanded its cable-laying fleet to five vessels with the addition of the ultra-shallow-water barge Barbarossa I. With the addition of Barbarossa I, Prysmian said it can now provide the full range of subsea cable-laying solutions, from the shallowest coastal waters in Northern Euro
Grand Canyon III to sport NES battery pack
Norwegian Electric Systems (NES), a subsidiary of HAV Group, has secured a contract with Volstad Maritime to deliver the battery pack and associated control system for battery charging to the offshore construction vessel Grand Canyon III. NES will provide the equipment to the Grand Canyon III in con
Construction begins on JDR’s new subsea cable factory
JDR Cable Systems has begun the construction of its new subsea cable manufacturing facility in Cambois, near Blyth, Northumberland. The 69,000 sqm factory is set to deliver subsea cable manufacturing technology to the offshore wind market and is currently providing 171 local jobs for the constructio
Panama, Uruguay, and Norway join Clean Energy Marine Hubs initiative at COP27
The governments of Panama, Uruguay, and Norway have signed up to the Clean Energy Marine Hubs Initiative, a worldwide cross-sector initiative aimed at catalyzing the supply of green fuels, and supporting the global energy transition. The announcement was made on Monday in Egypt at the 27th United Na
Aker BP cleared to drill wildcat well in North Sea
The Norwegian Petroleum Directorate (NPD) has granted Aker BP a drilling permit for a wildcat well in the North Sea offshore Norway.
Albanians open call for 12.9MW floating solar plant
Solar Energy of Albania (SENA), a subsidiary of state-owned power utility Korporata Elektroenergjitike Shqiptare (KESH), has launched a tender for the development of a 12.9MW floating solar plant in Albania.
Sandbrook Capital acquires majority stake in Havfram
Sandbrook Capital, a private investment firm headquartered in Connecticut, US, has acquired a majority stake in Havfram and has committed $250 million (NOK 2.65 billion) of equity capital to the Norwegian offshore wind services provider. Havfram will use the new capital to build a fleet of vessels f
UK a step closer to delivering ‘first-in-industry’ digital solution for workers in offshore energy sector
3t Energy has been selected to develop a pioneering digital solution in partnership with OPITO to help workers in the offshore energy sector.
Fratelli Cosulich secures financing for its LNG bunkering newbuild
Italian maritime transportation group Fratelli Cosulich has won a €29.5m loan from a consortium of lenders to finance 70% of the construction costs for a new LNG bunkering vessel currently being built by Chinese shipyard Nantong CIMC Sinopacific Offshore & Engineering Co. The lenders include Crédit
Scandinavian Biogas secures multi-year Bio-LNG supply deal worth $27 million
Swedish biogas producer Scandinavian Biogas has signed a multi-year agreement for the supply of liquid biogas (Bio-LNG) to the transport sector in the Nordic region. As disclosed, the deliveries of liquefied biogas under the agreement will begin shipping in 2023 and are intended from Scandinavian Bi
BP hands out seven-year deal for its oil & gas assets in Azerbaijan
BP has awarded a long-term business services contract, covering its assets in the Caspian Sea and onshore Azerbaijan, to Glensol.
Validity of Ecospray’s ‘strategic’ Molten Carbonate Fuel Cell tech confirmed
The CO₂ reduction achieved by the new Molten Carbonate Fuel Cells (MCFC) technology for carbon capture (CC) in shipping, matches the expected targets announced by its developer Ecospray, at the beginning of the project, Italian classification society RINA said. The Italian environmental consultant l