Will LNG Remain a Key Energy Source?
Japan imported 8.3 million metric tons of LNG in January, an increase of 1.06 million metric tons compared to the previous year. The data, released by the Japanese Ministry of Finance, also reveals that the amount the country pays for LNG imports had increased by 6.7 percent since 2015. Japan is one of the largest LNG importers in the world and it is expected that gas and LNG will continue to remain a key energy source in the future. The nation’s reliance on LNG rose in 2011 following the closure of the country’s nuclear reactors…
The World's First Offshore Wind Farm is Retiring
DONG Energy has decided to retire “Vindeby”, the world’s first offshore wind farm, which 25 years ago marked the birth of the offshore wind industry. Today, offshore wind is a recognised and proven renewable energy technology, and the offshore wind turbines harvest the energy from the wind, transforming it into green power for millions of households. But it is actually only some 25 years ago that the world's first offshore wind farm was constructed close to shore in the low waters off Vindeby near Lolland in the south east of Denmark.
OP/Ed: Obama’s Arctic Decision Undercut His Own Legacy
On December 20, 2016, in an 11th hour unilateral action designed to cement his environmental legacy, President Obama withdrew 3.8 million acres in the north and mid-Atlantic Ocean and 115 million acres in the U.S. Arctic Ocean (including the entire Chukchi Sea and a significant portion of the Beaufort Sea) from future oil and gas leasing. Unlike the five year moratoria announced by Canada, President Obama touted these closures as “permanent.” Not only does this short-sighted decision threaten the economic lifeline of Alaska, U.S. energy leadership and U.S.
Maersk Tankers to Trial Rotor Sails
Norsepower Oy Ltd. in partnership with Maersk Tankers, The Energy Technologies Institute (ETI), and Shell Shipping & Maritime, have announced that it will install and trial Flettner rotor sails onboard a Maersk Tankers-owned vessel. The project will be the first installation of wind-powered energy technology on a product tanker vessel, and will provide insights into fuel savings and operational experience. The rotor sails will be fitted during the first half of 2018, before undergoing testing and data analysis at sea until the end of 2019.
Natural Gas Fleet Sail to the Future
Natural gas is set to account for an increasing share of the global energy mix in coming years, with gas consumption growing by an average of around 1.5%-2% a year out to 2040, according to energy forecasting agencies such as the IEA. And based on recent trends, Clarksons Research says, if the consensus views on natural gas prove accurate, the implications for the offshore and LNG carrier fleets are likely to be significant. In 2016, global natural gas demand stood at an estimated 347bn cfd, up by 24% on the 280bn cfd consumed in 2006.
Capacity Building for Sustainable Shipping
International Maritime Organization (IMO)'s response to the needs of developing countries for building capacity and facilitating technology transfer to promote low-carbon shipping was highlighted at the Environmental Sustainable Shipping Industry Conference (ESSIC), held in Panama City, Panama (14 March). The international conference was held in parallel with the Panama Maritime XIII World Conference and Exhibition. IMO’s Jose Matheickal talked through the Global Maritime Energy Efficiency Partnerships Project (GloMEEP) funded by the Global Environmental Facility (GEF)…
Offshore Wind: BOEM Fields Pair of Unsolicited Bids
BOEM has received unsolicited lease requests from two companies seeking to develop offshore wind energy on the Outer Continental Shelf (OCS). These requests are for areas located offshore New York and Massachusetts and are not in response to a formal call for interest. BOEM has finished its review of the unsolicited lease requests and deemed the requests complete. Moreover, BOEM has reviewed the applicants' qualification materials and determined that the applicants are legally, technically, and financially qualified to pursue offshore wind energy leases.
Caribbean Centre Launches on Low-Carbon Shipping Mission
A new centre tasked with promoting technologies and operations to help navigate shipping into a low-carbon future has been launched at the University of Trinidad and Tobago (8 March). The centre will cater to the needs of the Caribbean region under the Global Maritime Technology Cooperation Centre Network (GMN) – a project funded by the European Union (EU) and run by International Maritime Organization (IMO). The GMN initiative unites carefully selected technology centres into…
Deck Carrier BigRoll Beaufort Delivered
The heavy marine transportation provider BigRoll Shipping has reached a milestone. The fourth and final MC Class vessel for BigRoll shipping was handed over by Cosco Dalian Shipyard Co. Ltd to new owner BigRoll Shipping in Leiden, the Netherlands. BigRoll Beaufort completes this unique series of four identical deck carriers. The Finnish Swedish 1A Ice Class MC-Class vessels are explicitly designed for the marine transportation of major modules and equipment for large energy projects both on and offshore and can deliver in the most remote and inaccessible areas on the planet.
Danish Finance Minister to Report on North Sea Oil Negotiations with Maersk
Denmark's finance minister Kristian Jensen will hold a news conference about the government's ongoing negotiations with the Danish Underground Consortium (DUC) about a new tax agreement for North Sea oil and gas operations at 1745 CET on Wednesday, the finance ministry said in a statement. DUC consists of Danish shipping and oil conglomerate A. P. Moller-Maersk, Shell, Chevron CVX.N and state-owned Nordsofonden. The deal is seen as crucial for Maersk as it seeks to focus its operations on the North Sea and spin off its energy assets via a listing or merger. (Reporting by Teis Jensen; Editing by Toby Chopra)
ICE to Offer First US Gulf Coast LNG Futures Contract
With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Inc said on Wednesday it would begin trading the first-ever U.S. liquefied natural gas futures contract in May. ICE said the contracts would be cash-settled against the Platts LNG Gulf Coast Marker price assessment and use Platts-derived U.S. GCM LNG forward curves for daily settlement purposes. The curves will have an initial term of 48 months. "Domestic and international market participants now have a risk-management solution that lays the foundation for a more effective means of hedging their spot and forward exposure," J.C. Kneale, ICE's vice president, North American power and natural gas markets, said in a statement. U.S.
Räsänen Joins Foreship
Foreship has appointed Jan-Erik Räsänen as its Head of New Technology effective from March 1, 2017. The new role expands Foreship’s energy-saving consulting services at a time when the cruise industry is considering the best way of harnessing fast-emerging hybrid, battery and fuel cell technologies. Based in Helsinki, Mr Räsänen will focus on helping owners implement energy-saving measures already developed by Foreship. He will also offer expertise on the application of digitalization…
Becker Marine Systems Establishes Itself in the US
For more than two years, Becker Marine Systems has been represented by a branch office in Houston. During this time, the Hamburg-based ship supplier has worked to position itself in the North American market, generating numerous orders for the company’s various product ranges. “We have been able to significantly improve the degree of familiarity with Becker throughout the North American region and in the meantime have received a number of new orders“, said Walther Bauer, Director of Sales & Projects at Becker Marine Systems.
Algeria to Renew LNG Deal with France's Engie in March
Algeria's state energy company Sonatrach will renew a deal with French gas and power group Engie to supply 10 billion cubic meters of LNG per year, a source at Sonatrach told Reuters on Wednesday. The signing ceremony will take place in France, likely before the end of March, and Algeria's Energy Minister Nouredine Bouterfa will attend, the source said. No further details have been provided on the length of the contract, which will replace one that has just expired. But Sonatrach's CEO Amine Mazouzi said recently that new contracts will be for at least 10 to 15 years but no longer than 20 to 25 years. Sonatrach has opted for a dual approach that mixes its traditional preference for long-term contracts with spot market deals to get the maximum out of them at a difficult time for Algeria…
Eley to Take over as Polarcus CEO
Duncan Eley has been appointed chief executive officer of Oslo listed offshore geophysical services company Polarcus Limited, replacing Rod Starr, who has resigned following a two year reorganization period. Eley has been promoted to the CEO role from his current position as chief operating officer, succeeding Starr effective immediately. Starr will continue to work with the executive management team and Polarcus' Board of Directors for a transition period during the second quarter of 2017.
Subsea 7 CFO has 'Measured Optimism' of Oil Service Market Recovery
Oslo-listed oil services firm Subsea 7's Chief Financial Officer Ricardo Rosa told an energy conference in Oslo he sees gradual market recovery as oil prices stabilize, and the outlook for subsea project awards increasing within the next 12 months. "Previously all the discussions (with oil companies) were about cutting costs, now we are starting to talk about launching new projects... We have a measured optimism," Rosa said. Rosa said he sees activity is picking up in the Gulf of Mexico, but remains low in western Africa, and doesn't expect anything in Brazil in 2017.
Op/Ed: Offshore Energy Can Power US Growth
Following President Trump’s address to the joint session of Congress, National Ocean Industries Association (NOIA) president Randall Luthi weighs in on shifting U.S. policy and its effects on offshore energy and the American economy. As President Trump begins work on his ambitious agenda, it appears that efficiency and cost cutting are major themes throughout much of the federal government. Those of us in the energy producing industries say welcome to our world. While low commodity prices and overly burdensome regulations devastated job growth in the energy sector during the last two years…
Biofuels Can Cut Some Transport Emissions
Growing use of electric vehicles around the world is helping lower climate changing emissions, but some means of transport will be hard to electrify, particularly air travel and shipping, energy experts say. To “decarbonise” those, the world will need to rapidly develop and bring to market biofuels – while trying to ensure they don’t crowd out food production, say the authors of a report by the International Renewable Energy Agency (IRENA). With “the right selection of the right raw material” about 12 percent of transport fuel could come from renewable sources by 2030…
GAIL's First Time-Swap Deal for US LNG with Gunvor
Indian state-owned gas company GAIL has reached a deal with Swiss energy trading firm Gunvor to swap American liquefied natural gas (LNG) cargoes for shipments from other sources, Reuters reported. It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to cut costs for price-sensitive Indian customers after a sharp fall in Asian spot prices made its U.S. gas unattractive. GAIL will sell Gunvor 0.6 million tonnes of next year's LNG cargoes from Cheniere at a premium to GAIL's contracted price, FOB Sabine Pass, Louisiana, under the terms of the deal.
Energy Action Month Reinforces Navy's Energy Resiliency
Through a presidential proclamation, October has been designated as Energy Action Month to stress the importance of energy for our nation's economic vitality today and for a sustainable future. The Department of Navy's Energy Action Month theme for 2016 is "Power. Presence." This theme illustrates the strong connection between the Navy and Marine Corps' wise use of energy and our ability to be when and where we're needed for national security and humanitarian assistance missions worldwide.
US O&G Industry Reaps the Benefits of International Trade
Rising exports have thrown a lifeline to U.S. shale producers and refiners, giving them an additional outlet at a time when the domestic market has been at risk of becoming saturated. The United States exported record quantities of natural gas, propane, gasoline, distillate fuel oil and light crude last year while continuing to import the heavy oils needed by its refineries. Gas exports increased by almost 30 percent in 2016 and have more than tripled in the last decade, limiting the build up of unused gas and supporting prices in recent months despite the warmest winter on record.
Breaking Down Barriers to Energy-Efficient Shipping
International Maritime Organization (IMO)'s work to mitigate greenhouse gas emissions from international shipping has conducted in Mumbai, India with a train-the-trainer course on energy-efficient ship operation. The course (28 February – 3 March) is training maritime educators and officials to pass on expertise on the complex technical and regulatory aspects designed to make shipping greener. Thirty participants from Indian, Bangladeshi, Maldivian and Sri Lankan maritime training institutes, maritime administrations and classification societies are taking part.
GAIL, Gunvor Sign Time-Swap for U.S. LNG
State-run gas company GAIL (India) Ltd has signed a time-swap deal with Swiss trader Gunvor to sell some of its U.S. liquefied natural gas (LNG), sources said, as the Indian firm tries to ease the burden of its costly foreign LNG supplies. It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to cut costs for price-sensitive Indian customers after a sharp fall in Asian spot prices made its U.S. gas unattractive. The deal equates to around 5 percent…