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Market Outlooks - Offshore Energy

Market Outlooks

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Market Outlooks

Global blue hydrogen market to reach $34 billion, predicts IDTechEx

In its new report ‘Blue Hydrogen Production and Markets 2023-2033: Technologies, Forecasts, Players,’ technology company IDTechEx has forecasted that the global blue hydrogen market will grow to reach $34 billion by 2033. The company predicted that future blue hydrogen demand will be mainly driven b

about 3 years ago

Deepwater Atlas drillship; Source: Transocean (video)

Market Outlooks

With largest annual backlog since before 2014 woes hit industry, Transocean envisages ‘multi-year upcycle’

Transocean is anticipating further growth in rig demand over the coming years, which will bring higher day rates and fleet utilisation.

about 3 years ago

Scale model of OceanEnergy’s OE35 wave energy device (Courtesy of OceanEnergy)

Market Outlooks

OceanEnergy completes tank trials of scaled OE35 wave energy device

Irish company OceanEnergy has concluded the latest round of tank testing of its scaled OE35 wave energy device model at Lir-National Ocean Test Facility (Lir NOTF) as part of the WEDUSEA project.

about 3 years ago

Illustration; Source: International Energy Agency (IEA)

Market Outlooks

IEA: Fraction of bumper profits during 2022 can slash oil & gas sector’s methane emissions

Methane emissions remained stubbornly high in 2022, even as soaring energy prices made actions to reduce them cheaper than ever, says IEA.

about 3 years ago

Market Outlooks

Enagás meets 2022 targets, boosts its 2030 strategic plan

Spanish energy company Enagás has announced that all its objectives set for 2022 have been achieved and the degree of execution of its 2022-2030 strategic plan is higher than expected. Enagás’ net profit on 31 December 2022 amounted to €375.8 million, exceeding the target for the year. The significa

about 3 years ago

EU-SCORES: Combining offshore wind with offshore solar energy (Courtesy of Oceans of Energy)

Market Outlooks

EU-SCORES: Win-wins of offshore energy multi-use parks

The Dutch Marine Energy Centre (DMEC) and the EU-SCORES project partners have recently held a two-day stakeholder engagement event on energy multi-use parks at the Marine Energy Hub in the Hague, spotlighting the benefits of combining different offshore renewable energy sources at one site.

about 3 years ago

ENGIE and Masdar partner up for UAE green hydrogen hub

Market Outlooks

ENGIE steps up its energy transition, targets renewables

French energy group ENGIE is moving to the second stage of its strategic plan, stepping up growth in the energy transition with an emphasis on renewables. The group said its 2021-23 strategic plan has been successfully executed and the time has come to move on to the second stage. ENGIE said its geo

about 3 years ago

The AR1500 tidal turbine (Courtesy of SIMEC Atlantis)

Market Outlooks

MeyGen sets record with world’s first 50GWh of electricity generated by tidal energy

The MeyGen tidal energy project, developed by SIMEC Atlantis Energy, has become the first tidal stream array in the world to generate 50GWh of clean electricity from tidal energy.

about 3 years ago

Market Outlooks

Biofuels: the low-hanging fruits ensnared in policy gaps

Biofuels have emerged as a promising solution that can be implemented without significant changes to existing infrastructure. Nevertheless, there are numerous challenges hampering their wider adoption.

about 3 years ago

Market Outlooks

Big oil to keep capital investment taps closed despite collecting $283 bln in 2022, says Westwood

Westwood looks into the conundrum concerning the cashflow and capex of five supermajors: BP, Shell, Chevron, ExxonMobil and TotalEnergies.

about 3 years ago

NetBuoy deployed for sea trials in the Cromarty Firth, Scotland (Courtesy of TTI)

Market Outlooks

US company to use TTI’s NetBuoy concept for wave energy device

California-based wave energy technology developer Centipod has teamed up with TTI Marine Renewables, a Scottish subsidiary of Tension Technology International (TTI), on the development of its wave energy device.

about 3 years ago

Market Outlooks

ECSA calls for inclusion of fuel suppliers under the scope of FuelEU Maritime

The European Community Shipowners’ Associations (ECSA) calls on the European Parliament and the Council to support the mandatory inclusion of fuel suppliers under the scope of FuelEU Maritime as proposed by the European Parliament in Amendment 129. The amendment approved on October 19th says that if

about 3 years ago

Market Outlooks

Shell: Europe’s LNG demand to intensify competition and dominate trade in the long term

Europes’s increased need for liquefied natural gas (LNG) will likely intensify competition with Asia for limited new supply available over the next two years and may dominate LNG trade over the long term, energy major Shell stated in its LNG Outlook 2023. It is reported that European countries, incl

about 3 years ago

Illustration (Courtesy of FLORES Project)

Market Outlooks

EU project FLORES kicks off to boost skills in offshore renewables sector

EU-backed Forward Looking at the Offshore Renewables (FLORES) project has been officially launched to develop tools and activities to foster the development of skills in the offshore renewable energy sector.

about 3 years ago