Outlook & Strategy
Equinor exits Azerbaijan
Equinor has signed an agreement with State Oil Company of Azerbaijan Republic (SOCAR) to divest all its remaining assets in Azerbaijan where it has been present since 1992. The assets comprise a 7.27% non-operated interest in the Azeri Chirag Gunashli (ACG) oil fields in the Azerbaijan sector of the
Liquid Wind applies for environmental permit for third eFuel plant in Sweden
Swedish electrofuel (eFuel) developer Liquid Wind has submitted an environmental permit application for the company’s third commercial-scale green electrofuel facility, FlagshipTHREE, at the Land and Environment Court in Umeå, Sweden. According to Liquid Wind, once operational, FlagshipTHREE, locate
Capital Product Partners seals $3.1 billion acquisition of 11 LNG carriers amid strategic transformation
After its recently announced pivot towards the LNG shipping sector, New York-listed shipowner Capital Product Partners L.P. has closed the umbrella agreement initiated last November, paving the way for the acquisition of 11 newbuild liquefied natural gas carrier vessels. As reported by Offshore Ener
SEFE and Equinor forge gas and hydrogen ties
German Securing Energy for Europe (SEFE) and Norway’s energy major Equinor have signed a long-term gas sales agreement, as well as a non-binding letter of intent (LoI) on large-scale hydrogen supplies. Under the gas sales agreement, Equinor will supply SEFE with 111 TWh (circa 10 bcm) of natural gas
Meeting IMO’s 2030 targets not out of grasp?
Despite the challenges that defined this year, the maritime industry may be closing the chapter on 2023 with a sense of optimism. Namely, BIMCO’s recent analysis provides a beacon of hope, suggesting that the International Maritime Organization’s (IMO) ambitious goal of achieving 5% zero or near-zer
Vertical lay-up machine ordered for Taiwan’s first subsea power cable factory
Norway’s PASSER Group has secured a contract to deliver a vertical lay-up machine (VLM) for the first-ever subsea power cable factory in Taiwan. PASSER Products announced it had been awarded the contract for the delivery of the VLM to the new factory in Kaohsiung. The factory, which will specialize
Air Liquide to install CO2 capture unit at hydrogen plant in Rotterdam port
In order to supply decarbonized hydrogen to its long-term customers, Air Liquide has decided to build, own, and operate a carbon capture unit that will be installed at its hydrogen production plant in the port of Rotterdam and will be connected to Porthos, one of Europe’s largest carbon capture and
Germany first beneficiary of European Hydrogen Bank’s financing scheme
Germany will be the first member state to take part in the new EU mechanism ‘Auctions-as-a-service’ of the European Hydrogen Bank, with the federal government providing an additional €350 million for electrolyzer projects in Germany. These are in addition to the €800 million that the EU Innovation F
€15M boost to help SolarDuck deliver its first commercial floating solar projects
Dutch-Norwegian company SolarDuck has secured €15 million in funding for the further development and deployment of offshore floating solar power technology. According to SolarDuck, this funding sets the company on a path of continued growth, to deliver its first commercial projects and increase its
Fugro embarks on another task to convert PSVs into geotechnical vessels
Fugro is planning to repurpose two platform supply vessels (PSVs) into geotechnical vessels. This news comes as the Dutch company is currently in the process of repurposing two other PSVs into geotechnical vessels. Fugro announced it had reached an agreement to acquire the Wartsila-designed Sea Gold
Performance Shipping inks construction deal for LNG-ready LR2 Aframax duo
Greek tanker owner Performance Shipping has signed two contracts with China Shipbuilding Trading Co. and Shanghai Waigaoqiao Shipbuilding for the construction of two 114,000 dwt LNG-ready LR2 Aframax product/crude oil tankers. The oil tanker vessels are expected to be delivered in January and April
Uniper looking into Provaris’ compressed hydrogen carriers for hydrogen import
Australia-based developer of green hydrogen projects Provaris Energy has signed a non-binding memorandum of understanding (MoU) with German energy company Uniper to evaluate the supply of green hydrogen to Germany using Provaris’ compressed hydrogen carriers. Under the MoU, Provaris and Uniper will
Island Constructor to pick up next-gen subsea equipment
Island Offshore’s subsea vessel Island Constructor is set to pick up new, next-generation subsea equipment after it completes an assignment in January. Island Constructor, build 279 from Ulstein Verft, will return to the yard in January for a service assignment. The vessel will finish a well service
Lhyfe and partners launch BOxHy project as next step in ocean reoxygenation through hydrogen production
French hydrogen producer Lhyfe, together with its partners Flexens and Stockholm University’s Department of Ecology, Environment, and Plant Sciences (DEEP), has introduced the Baltic Sea Oxygenation and the Super-Green Hydrogen Economy project, also known as BOxHy, as the new step in the works on oc