Commonwealth Wind Moves Forward with Mass. Offshore Wind Deal
Commonwealth Wind said late Monday it will move forward with a submitted but not yet approved power purchase agreement with Massachusetts electric companies and its 1,232-megawatt offshore wind project.Commonwealth made its announcement after the Massachusetts Department of Public Utilities (DPU) denied, in early November, Commonwealth's motion to suspend its agreement. That motion raised questions about the future of Commonwealth's offshore wind project.Commonwealth is a unit of Avangrid Inc.…
Massachusetts Denies Motion to Delay Offshore Wind Contracts
Massachusetts utility regulators denied offshore wind power company Commonwealth Wind's motion to suspend its power purchase agreement with state electric utilities, raising questions about the future of Commonwealth's proposed offshore wind project.The Massachusetts Department of Public Utilities (DPU) said in an order on Friday that Commonwealth "is a sophisticated market participant well capable of factoring economic contingencies into its contract prices ... and exercising its options under the existing (power purchase agreements)."Commonwealth is a unit of U.S.
US Could Get First LNG Import from Russia despite Sanctions
A vessel that may be carrying liquefied natural gas from Russia's new Yamal LNG export terminal could be heading to the United States despite sanctions against the company that operates the Russian facility, according to a report by S&P Global Platts and Thomson Reuters shipping data. The tanker Chris. De Margerie picked up a cargo from Novatek PAO's Yamal facility, Russia's second LNG export terminal, on Dec. 9 and dropped it off at National Grid Plc's Isle of Grain LNG facility near London on Dec. 28, according to Thomson Reuters data.
Transocean Ltd. Board Nominates New Director
Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that the Board of Directors is recommending that the company's shareholders approve at the 2011 Annual General Meeting the election of Steve Lucas as a Class III Director for a three-year term. Mr. Lucas is the retired Group Finance Director of National Grid plc and has previously served in a variety of finance roles with the Lattice Group plc., the BG Group plc and Royal Dutch/Shell. -- The re-election of Ian C. Strachan and Martin B. McNamara as Class III Directors for three-year terms. -- The election of Jagjeet S.
GL Acquires Advantica
Germanischer Lloyd acquires the British Advantica Holding, based in Loughborough, with 660 employees worldwide from National Grid plc. With this acquisition, Germanischer Lloyd will double its turnover in the oil and gas industry and significantly strengthen its position in the UK, Middle East and US markets. Advantica concentrates on oil and gas installations and pipeline networks and is therefore an expert for risk and safety analyzes, offering consulting services for installation design and the optimization of operations. To date, the Germanischer Lloyd Industrial Services unit has focused on asset and process safety, production know-how and inspections as well as evaluation of structures and safety related components.
