Energy Expert News

DNV has published a substantial revision to the ‘go-to standard’, DNV-ST-N001, for the design and planning of marine operations for the transport, installation and removal of offshore wind farms, subsea cables and oil and gas assets.The new major changes reflect the changing nature of the offshore industry in line with its support of the energy transition, ensuring that the standard remains relevant and supports the development of cost-effective marine operations during a fast-evolving energy transition.DNV…

Independent energy expert and assurance provider DNV and Light Structures AS, a supplier of fiber optic condition monitoring systems based on Fiber Bragg Grating (FBG) technology, have signed a Memorandum of Understanding (MoU) to cooperate on the development of new methodologies and solutions at the intersection of structural health monitoring and digital twin functionalities.

Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected to get a lift after the United States relaxed oil sanctions by authorizing some partners of state-run firm Petroleos de Venezuela (PDVSA) to resume taking Venezuelan crude.Iran expanded its role in Venezuela last year, sending supplies to boost exports and technicians to repair a refinery.

U.S. oil company Chevron Corp is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data.On Friday, a Chevron-chartered vessel approached the South American country's waters to pick up a cargo of Venezuelan crude. A second tanker carrying a cargo of diluents to a Chevron oil joint venture is due to arrive in Venezuela early next month, the person said.The U.S. last month issued a six-month license to Chevron authorizing it to take an expanded role at four Venezuelan oil joint ventures that produce, process and export oil, and to bring their oil to the United States.The U.S. license will reopen oil flows that were shut by U.S.

Energy expert and assurance provider DNV has provided Swedish floating wind tech firm Hexicon with a Statement of Feasibility for its TwinWay demonstrator which will be installed and operated at Metacenter, off the coast of Norway. With achieving this first step in the certification process, DNV considers the TwinWay concept feasible for further development towards a full-scale demonstrator.The intention of the TwinWay project is to show proof of concept for Hexicon´s floating wind foundation TwinWind.

The Philippines stands to benefit from introducing liquefied natural gas (LNG) to support power generation and making it part of its energy mix, the government's Philippine News Agency reported quoting  an energy sector expert for the Asian Development Bank (ADB). “Right now and the foreseeable future, natural gas and LNG is much cheaper today compared to two to three years ago, so there is a chance for the Philippines and for the countries in Asia to benefit from LNG and this is window of opportunity I think,” ADB chief of energy sector group Dr. Yongping Zhai said in an interview on Thursday. Zhai believes that LNG, a cleaner gas compared to coal, could be “very much part” of the Philippines' energy mix depending on its viability.

The Trump administration on Tuesday denied a request to waive shipping restrictions to help get fuel and supplies to storm-ravaged Puerto Rico, saying it would do nothing to address the island's main impediment to shipping, damaged ports. The Jones Act limits shipping between coasts to U.S. flagged vessels. However, in the wake of brutal storms, the government has occasionally issued temporary waivers to allow the use of cheaper, tax free, or more readily available foreign flagged ships.

Asian spot liquefied natural gas (LNG) prices rose this week on the back of rallying gas benchmarks in Europe and a production outage in Angola. The price of LNG for December delivery was $7.20 per million British thermal units (mmBtu), up around 25 cents from a week earlier, buoyed by gains in British month-ahead gas prices. UK December gas rose as much as 10 percent this week. Further LNG spot gains may be capped as prices close the gap with long-term, oil-indexed LNG contract levels and with new supply emerging from U.S. and Australian liquefaction projects, analysts and trade sources say. LNG importers arbitrage between buying shipments on spot markets or through their long-term contracts which tend to act as a ceiling on spot prices.

A new consultancy established by well known industry veteran and leading marine energy expert Adrian Tolson, was launched Tuesday. A new consultancy, 20|20 Marine Energy, was launched to help companies create and implement strategies for purchasing and selling marine energy, as well as supporting the development of bunkering infrastructure. In a changing market of increasing risk and complexity, 20|20 works with ship owners, operators and financial institutions on the buy-side, fuel suppliers and traders on the sell-side, as well as ports, and local and national governments on developing infrastructure projects. The company also provides research and insight services. 20|20 has been established by Adrian Tolson, one of the industry’s leading marine energy experts.

American Power Group Corporation (APG) announced they will be working with Marine Fuel Conversions, LLC (MFC) to evaluate potential applications and opportunities for APG’s dual fuel solution specifically in marine applications including on-board prime and ancillary power as well as port based stationary power applications. MFC which is based in Glasgow, Scotland will be responsible for funding and coordinating all feasibility and beta testing activities necessary to determine how APG’s innovative Turbocharged Natural Gas dual fuel system  can be commercialized in Europe for marine applications. The feasibility/beta testing period is anticipated to run between nine to fifteen months.

Cash-rich Norwegian private equity firms are eyeing up potential North Sea acquisitions, encouraged by proven management teams and reasonable market prices, claims a leading energy expert. Rosalie Chadwick, a partner in legal firm Pinsent Masons, believes the Scots-Nordic alliance will be strengthened in 2014, echoing a number of investments in recent months, but it won’t be one-way traffic. “There is an increased confidence by Norwegian investors in U.K. oil and gas assets,” explained Chadwick.