News
The Netherlands: BAM Renews Subordinated Loan for Five Years
Royal BAM Group nv announce the closing of a €500 million Senior Revolving Credit Facility (the ‘RCF’) and a €125 million Subordinated Term Loan (the ‘Sub loan’). The RCF was originally launched at €700 million. After the announcement by BAM on 22 December 2011 of the successful disposal of its 21.5
Germany: Jade Weser Port Project Progresses According to Schedule
There are just eight months to go to the start of operations. And some work still remains to be done in all areas of this major construction site. Yet there is no cause for panic – all the work is right on schedule. The countdown has started; there is not long to go to the […]
Statoil Completes Gassled Stake Sale (Norway)
The divestment of 24.1% of the Gassled shares from Statoil ASA to the consortium Solveig Gas Norway AS is now completed. Solveig Gas Norway AS is a holding company that is approximately 40% owned by Canada Pension Plan Investment Board, 30% by Allianz Capital Partners (a subsidiary of Allianz SE), a
Russia: Gazprom Gas Sales Rise
Russia’s Gazprom today said that its net sales of gas increased by RUB 491,995 million, or 33%, to RUB 1,987,330 million in the nine months ended September 30, compared to the same period in 2010. For the nine months ended September 30, 2011 net sales of gas to Europe and other countries increased b
Polskie LNG Rejects Capacity Application
Polskie LNG said that it has rejected the only one submitted application for the allocation of regasification capacity of the Świnoujście LNG terminal. The deadline for submitting applications has expired yesterday. “Only one application has been submitted by a company interested in entering into a
MCT’s SeaGen Produces More than 3GWh of Electricity (UK)
Bristol based Marine Current Turbines (MCT) announced that its 1.2MW SeaGen device has produced more than 3GWh of electricity since its deployment in 2008. SeaGen is located in Northern Ireland’s Strangford Lough and it is the first of its kind to reach this level. The company has been progressing o
Klaipedos Nafta Updates on Lithuania LNG Project
Klaipedos Nafta AB said in a statement that on January 27, the Ministry of Energy of the Republic of Lithuania has submitted a draft resolution to the Government proposing to pass a resolution regarding establishment of the LNG terminal whereby it is approved that Klaipedos Nafta would continue the
Samsung Heavy Chooses Fife for its First European Offshore Wind Project (Scotland)
First Minister Alex Salmond today welcomed the news that Korean giant Samsung Heavy Industries (SHI) is to base its first European offshore wind project in Fife in an inward venture worth up to £100m that is expected to create more than 500 new jobs in Scotland. The announcement came at the Scottish
Wartsila: Hamworthy Acquisition Effective (Finland)
Wärtsilä said today that the Scheme of Arrangement with regards to the acquisition of Hamworthy has become effective and the control of Hamworthy has been transferred to Wärtsilä as of today. The associated Reduction of Capital was confirmed at a Court hearing on 30 January 2012 in London, United Ki
The Netherlands: Risk Margin for Offshore Wind Project Increases
Every day newspapers are full of the latest Eurozone crisis. In 2010, Tom Murley from private equity firm HgCapital described the economy to Wind Directions as having had the equivalent of “open-heart surgery”. Today, he says: “Depending on what happens with the Eurozone we may be wheeling the econo
Government Invests Big in UK Waterways
A new charity to look after England and Wales’ network of 200-year old canals and rivers will be given over £1 billion of Government help to give it the best possible start, Environment Minister Richard Benyon, announced today. This unprecedented funding for a new charity paves the way for the launc
UK: Shell, Ortec Sign Technical Consultancy Deal
Shell Global Solutions International B.V. and ORTEC, a leading supplier in resource optimization tools and consulting services, have signed a contract to work closely together on a worldwide scale. The cooperation between Shell and ORTEC focuses on the optimization of supply chain processes and stra
GDF Suez Names Executive VP of Global Gas & LNG (France)
Pierre Clavel, member of the Executive Committee of GDF SUEZ, has been appointed Executive Vice President Global Gas & LNG, in charge of Business Development. He will also assist Gérard Mestrallet and Jean-Marie Dauger, respectively Chairman & CEO and Executive Vice President of GDF SUEZ, in coordin
Danish Yachts to Launch SeaStrider
Danish Yachts is to launch its advanced new range of commercial vessels – SeaStrider. Designed for high-speed passenger transport, SeaStrider is groundbreaking both in terms of design technology and build and is the first carbon fibre SWATH to be built. The first boat under construction in the range