Outlook & Strategy
BP and OMV ink long-term LNG supply agreement
UK-headquartered energy major BP and Austria’s integrated oil and gas company OMV have signed a long-term sale and purchase agreement (SPA) for the supply of up to 1 million tonnes of LNG per year. Under the agreement, BP will provide OMV with LNG starting in 2026. LNG will be sourced from BP’s glob
SEA-LNG: Bio-LNG bunkering is available in almost 70 locations
Bio-LNG is available in almost seventy ports worldwide, including in Singapore, Rotterdam, and the US east coast, according to an analysis of the green LNG bunkering market published by SEA-LNG, a multi-sector industry coalition promoting LNG as a marine fuel. The coalition added that bio-LNG used i
Ireland plans interconnector expansion to EU and UK, aims to become renewable energy exporter
The Irish government has approved a new policy statement on electricity interconnections which will see Ireland explore new interconnection opportunities with Spain, Belgium, and the Netherlands, as well as further connections to Great Britain and France. The National Policy Statement on Electricity
EC approves Germany’s €40M support measure for Brunsbüttel LNG terminal
The European Commission (EC) has approved a €40 million German support measure for the construction and operation of a new land-based LNG terminal in Brunsbüttel which will replace the FSRU currently operating at the site. The terminal with an annual capacity of 10 billion cubic meters will comprise
HEMEXPO teams up with DNV to review energy-saving devices
Hellenic Marine Equipment Manufacturers and Exporters (HEMEXPO) has reached an agreement with the classification society DNV for the assessment of energy-saving devices (ESDs) produced by HEMEXPO member companies. Under the terms of the agreement, DNV will review a makers list provided by HEMEXPO to
Fugro delivers on mid-term targets with offshore wind activities leading the way
Fugro has reported a revenue of over €1 billion for the first half of 2023, representing a 24.1% growth from €833 million in the first half of 2022, said to be due to continued high client demand in energy markets, in particular for offshore wind site characterization solutions and related nearshore
North Adriatic Hydrogen Valley project set to kick off in September 2023
The North Adriatic Hydrogen Valley (NAHV) project, a transnational project by Slovenia, Croatia and the Italian Region of Friuli Venezia Giulia, has received the official green light for its implementation as of 1 September 2023. Last week, Holding Slovenske Elektrarne (HSE), the leading partner in
Germany updates its national hydrogen strategy
Germany has decided to update the National Hydrogen Strategy with the increased level of ambition in climate protection and the new challenges in the energy market. The Federal Cabinet made the decision on 26 July preceded by a political agreement of all departments, including the five core departme
SLB and Eni in alliance for pipeline integrity monitoring and analysis
SLB and Eni, through its subsidiary Enivibes, have established an alliance for the deployment of a vibroacoustic wave detection system said to be capable of providing real-time analysis, monitoring and leak detection for pipelines around the world. The alliance covers the deployment of e-vpms (Eni V
There is NO time for antagonism among marine fuel proponents
As the world witnesses the devastating impact of climate change through catastrophic events like wildfires engulfing the Greek island of Rhodes and northern Algeria, and the occurrence of giant supercells in Italy, the need for urgent and sustainable solutions within the energy industry, the maritim
Are net-zero aspirations in jeopardy with oil & gas boom at full tilt?
The global oil and gas industry has embarked on a growth upcycle, raising concerns that this is putting net-zero 2050 commitments at risk.
With $2.8 billion in revenue so far, Subsea 7 expects to meet full-year 2023 expectations
Subsea 7’s revenue for the first half of 2023 was $2.8 billion, a $323 million or 13 per cent increase compared to the first half of 2022, said to be due to significantly increased activity in the Subsea and Conventional business unit partly offset by lower revenue in the Renewables business unit. F
Power sales from MeyGen bring in €4.5M to SIMEC Atlantis as co-location with storage emerges as option
The power sales from the MeyGen tidal energy project have reached €4.5 million in 2022, according to the developer of the project SIMEC Atlantis Energy, which also unveiled plans for potential combination of the tidal power scheme with its battery energy storage systems (BESS) business.
AYK Energy opens new unit, one of first orders to go for H2-run vessel retrofit
Andorra-based marine battery maker AYK Energy has opened a new 5000 sqm factory in Zhuhai, China, to boost the company’s production capacity. According to AYK Energy Founder Chris Kruger, the factory will ramp up the capacity, using a new automated manufacturing system, to 300 MWH a year, with the a