As we entered into a new year, the mission remained the same. In the next twelve months, the offshore energy sector will continue to work on the steps to ameliorate immediate challenges and climate change impact.
To scale up its decarbonisation efforts by 2030, ADNOC has hammered out a multi-year action plan, allocating $15 bln for low-carbon projects.
2022 has been a stellar year for methanol as an alternative fuel for ships as owners look to solutions to decarbonize their fleets. Based on the data from DNV, there are currently a total of 82 methanol-powered ships in operation and on order. The figure grew considerably from what we reported in Au
A report by Hydrogen Council, a global CEO-led initiative that brings together companies with a united vision, suggests that hydrogen needs to grow sevenfold to support the global energy transition, eventually accounting for 10% of total energy consumption by 2050. The report, named Sufficiency, sus
The year behind us was marked by a plethora of challenges which have impacted the global energy industry, including liquefied natural gas (LNG) sector. Geopolitical turmoils followed by the worldwide energy crisis culminated in the ongoing race for the security of diverse supplies, with LNG taking t
Among the top deals, which have been awarded in 2022 are the ones secured by the U.S.-based McDermott and Italy’s Saipem.
NEOM Green Hydrogen Company, a joint venture created by ACWA Power, Air Products and NEOM, has awarded an engineering, procurement and construction (EPC) contract to Indian Larsen & Toubro (L&T) for the planned mega green hydrogen plant in Saudi Arabia. On 22 December, NGHC announced that the contra
This year saw an ordering spree for LNG carriers amid spiking demand for LNG driven primarily by the ongoing geopolitical turbulence in Europe as the EU battles to break away from dependence on Russian gas instigated by Russia’s war in Ukraine. A total of 162 new orders have been placed so far this
Japanese electricity generator JERA has signed a key term sheet with Oman LNG for the long-term sale and purchase of liquefied natural gas (LNG). Under the 10-year agreement, JERA will purchase up to 12 cargoes (approximately 0.8 million tons) per year of LNG produced from the Oman LNG project start
Japan and Saudi Arabia have signed memoranda of understanding (MoUs) for cooperation in the areas of circular carbon economy (CCE) and carbon recycling as well as clean hydrogen, ammonia and derivatives. The MoUs were signed during the first ministerial meeting of the Saudi-Japanese Ministerial Dial
LNG development company Atlantic Gulf & Pacific (AG&P) has signed a charter agreement with ADNOC Logistics & Services (ADNOC L&S), the shipping unit of the Abu Dhabi National Oil Company, to utilise the latter’s LNG carrier as a floating storage unit (FSU) at its planned LNG import terminal in India
ASYAD Shipping, a part of Oman’s national logistics provider ASYAD Group, has signed an agreement with South Korea’s Hyundai Samho Heavy Industries for the construction of two liquefied natural gas (LNG) carriers. According to a stock exchange filing, the order for two LNG carriers was placed on 21
NEOM Green Hydrogen Company (NGHC) has signed facility agreements with local, regional, and international banks along with the execution of a commitment letter with the Saudi Industrial Development Fund (SIDF) for a mega green hydrogen plant, set to produce green ammonia, in NEOM, Saudi Arabia. Loca
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.
