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31 May 2022

EU Agrees Gradual Russian Oil Embargo, Gives Hungary Exemptions

Illustration only - Gazprom's Prirazlomnaya platform at the Prirazlomnoye field - Credit: Gazprom Neft

European Union leaders have agreed an embargo on Russian oil imports that will start kicking in towards the end of the year and which exempts, for now, pipeline imports that Hungary and two other landlocked Central European states rely on.The toughest sanction yet on Russia for its invasion of Ukraine, agreed overnight after weeks of wrangling, aims to remove 90% of Russia's crude imports into the 27-nation bloc by year-end, senior officials said."The purpose is to stop Russia's aggressive war…

20 Jan 2020

Vattenfall, TuuliWatti to Balance Finnish Wind

European energy company Vattenfall has signed a five-year energy services agreement with the largest Finnish wind power producer TuuliWatti that includes the latter’s total wind power production in Finland.The agreement, which started on 1 January, entails forecasting, trading and balancing services for TuuliWatti’s total wind power production in Finland.Currently, the company’s wind power portfolio has an installed capacity of 441 MW and annual production of approximately 1,3 TWh, which equals to 20% of Finland’s annual wind production in 2019.“The agreement with TuuliWatti is fully in line with Vattenfall’s ambition to become a leading provider of renewable energy services to corporate customers in Europe.

03 Sep 2019

COBRA Cable Readies for Action

The 700MW COBRAcable interconnector linking the Dutch and the Danish grid will be available for the electricity market as of delivery day, 7 September, Dutch high-voltage grid operator TenneT said."After three years of construction, including the laying of the submarine cables as well as the construction of two onshore converter stations, and a successful test phase earlier this year, COBRAcable will be available for the electricity market as of the delivery day of 7 September, which is exactly on schedule," it said.The first direct connection between the electricity markets of Denmark and the Netherlands was jointly realised and is operated by the two TSCNET shareholders Energinet…

24 Jul 2019

China to Overtake Japan in LNG Imports

Japan could lose its position as the world’s top LNG importer to China as early as 2022, said a new report by consultancy group Wood Mackenzie.By then, LNG imports in Japan are expected to decline 12 per cent to 72.8 million tonnes per annum (mmtpa) compared to 2018, while China’s import volume rises 37.5 per cent to 74.1 mmtpa.The consultancy firm said that despite losing this leadership position, Japanese buyers will continue to take a lead in contracting innovation with developments such as hybrid deals, coal indexation, joint procurement and carbon neutral cargoes.As several long-term contracts wind down from the early 2020s and with gas and power market liberalisation underway…

27 Mar 2019

EDF Enters Chinese Offshore Wind Market

French energy company EDF has signed an agreement with the Chinese utility China Energy Investment Corporation (CEI) to jointly deliver two offshore wind power projects in China.The Dongtai IV and V offshore wind farms account for a total installed capacity of 500 MW and will be the EDF Group’s first offshore projects in China.The cooperation agreement signed with China Energy Investment, a leading industrial player on China’s electricity market, concerns EDF’s acquisition of a stake in the Dongtai IV and V offshore wind projects, located off the coast of Jiangsu Province north of Shanghai.The Dongtain IV projet is currently being built; the construction of Dongtai V is scheduled to begin in 2019.

12 Apr 2017

Hudson River: A Battle for Anchorage Grounds Goes Viral

Bruno Bernier / Adobe Stock

Where commercial marine and safety considerations allide with recreational and other peripheral agendas, the discussion can sometimes be contentious. One such example of this reality is now playing out on the Hudson River in New York. On June 9, 2016, the U.S. Coast Guard published a three-page Federal Register notice, seeking public comments on a proposal suggesting new anchorage grounds in the Hudson River, from Yonkers to Kingston, N.Y. Officially, this was an advance notice of proposed rulemaking…

29 Dec 2015

The Top Five Ships of 2015

Top 5 Ships of 2015: Containership MSC Oscar (Photograph: Mediterranean Shipping Company S.A.)

Maritime innovation never stops, and 2015 was certainly no exception, as a number of “world firsts” hit the high seas. In its December 2015 edition Maritime Reporter & Engineering News (http://digitalmagazines.marinelink.com/nwm/MaritimeReporter/201512/) presented its “Great Ships of 2015;” MarineLink.com takes the process one step further, and here confer the “Top Five Ships” of 2015. With a gross tonnage of 168,666, somewhat smaller than the world's largest Oasis class vessels, Royal Caribbean Cruises Ltd.

24 Nov 2015

Fincantieri Launches Nuclear Waste Vessel for Russia

Photo: Fincantieri

Itarus, the new semisubmersible floating platform built to transport Russia’s nuclear materials, was launched at a ceremony on November 19 at Fincantieri’s shipyard in Muggiano, La Spezia. Built by Fincantieri for the Russian RosRAO, the Federal State Unitary Enterprise for radioactive waste management, the vessel will be used for the transportation of nuclear submarine reactor compartments decommissioned by the Russian Navy from the storage area of Sayda Bay to the Nerpa Shipyard (and vice-versa), facing the Kola Peninsula in the Barents Sea.

27 Oct 2015

Singapore Eyes LNG Trading Hub Status

Singapore looks to pull ahead in the race to become Asia’s main gas hub by establishing a domestic gas trading market. Rising liquefied natural gas (LNG)  supply and demand within Asia has prompted Singapore to to become a centre for energy trading. Singapore, already a global oil trading hub, is aiming to take advantage  from increasing numbers of buyers especially in China, but also India and other parts of Asia. Announcing the decicion, Singapore’s trade and industry minister S Iswaran said creating a domestic gas market would “allow domestic gas price discovery that reflects Singapore’s demand and supply conditions”. Forecasts suggest that Asia will buy two-thirds of the world’s LNG this year.

07 Aug 2015

Forewind Scales Back World's Largest Offshore Wind Project Plans

Forewind has scaled back by a third plans to build wind farms at Dogger Bank in Britain's North Sea, which could nevertheless become the world's largest wind project, it said on Friday. Forewind -- a consortium of energy companies RWE Innogy UK, SSE, Statkraft and Statoil -- gave no specific reason for the decision. It had secured licenses from Britain's Crown Estate to build six projects at the Dogger Bank offshore zone of 1.2 gigawatts (GW) of electricity each. The government has given consent for farms to be built at four of the sites but Forewind said on Friday it would not seek consent for the fifth and six. "These four Dogger Bank projects are a huge commitment and will require significant resources and attention from the owner companies to progress to the next stages…

29 Jun 2015

Wave Power Unit for Victorian Waters

BioPower Systems Pty Ltd (BioPower) has finished constructing its prototype wave power unit to be installed off the coast of Port Fairy, Victoria, later this year. ARENA CEO Ivor Frischknecht congratulated BioPower on the achievement, which would advance the renewable wave energy industry in Australia. “The $21 million project, supported by $11 million ARENA funding, aims to move BioPower’s bioWAVE technology towards commercialisation,” Mr Frischknecht said. “If successfully installed, it will be the second ARENA supported wave energy device supplying energy to a major Australian grid, feeding 250kW of renewable energy into the National Electricity Market. “The bioWAVE unit is a 26 metre high steel structure that sways back and forth, mostly below the surface of the ocean.

21 Sep 2014

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised. Despite holding the world's ninth largest gas reserves, Nigeria only produces a tenth of the amount of electricity as South Africa for a population three times the size, and in an effort to end decades of debilitating power shortages President Goodluck Jonathan handed ownership of the moribund state electricity company to private buyers last November. But some companies have already run into financial difficulties linked to debts left by the state power company and regulated prices that remain too low to be profitable.

21 Aug 2014

Scotland Site for World's Biggest Tidal Array

The world’s biggest tidal array is to be built in North Scotland bringing jobs and energy security to the Pentland Firth region, informs a UK Government news release. The Government has provided £10 million worth of grant funding to the Meygen project, which will provide enough electricity to power 175,000 homes and provide up to 100 jobs when fully completed. Other funders include the Scottish Government, and The Crown Estate. The £51m scheme could inspire further projects in the Pentland Firth - helping to provide clean, sustainable and secure energy and jobs for the local community for decades to come. “The project also shows what can be done when the UK and Scottish Governments work together to provide a lasting benefit for the people of Scotland.

17 Apr 2014

YPF Tenders to Buy Fuel Oil for June

State-run oil company YPF launched its second fuel oil tender in April, this time to buy two 50,000 metric ton cargoes (some 375,000 barrels each) to be received in June and supplied to domestic thermoelectrical companies, according to a document seen by Reuters on Thursday. The fuel will be delivered to Cammesa, Argentina's electricity market administrator, while the 90,000 barrel per day (bpd) Campana refinery undergoes a maintenance to its key operational plants, including crude distillation units, a delayed coker, a catalytic cracker and a reformer. YPF bought a previous fuel oil cargo earlier this month that will be received from May 26 to June 1.

11 Sep 2013

Offshore Wind Market Report $19.8B Opportunity

Dmitry Dovgan Dovgan has a background in strategic management and business analysis, with a wide experience in the energy industry.

Douglas-Westwood (DW) has released the fifth edition of the World Offshore Wind Market publication where we forecast offshore wind installations averaging 3.2 GW per year over the next 10 years. Capital expenditure is expected to hit a peak of €18B in 2016. The market will remain highly concentrated in the Northern European region, particularly in U.K. and German waters. The Chinese market will also grow quickly in the forecast period. Why Offshore Wind? Due to low carbon targets and a need to secure new energy supplies…

10 Sep 2013

Energy Companies Propose Rebuild of European Energy Policy

Following on from the formal call of May 21, 2013 to the European Council, Gérard Mestrallet CEO of GDF SUEZ and Paolo Scaroni CEO of ENI appeared before a European Parliament hearing. The event was jointly organized with Amalia Sartori (Chair of the EU Parliament’s Energy Committee) and took place in the presence of the European Commissioner for Energy, Günther Oettinger. The hearing was aimed at highlighting the risks of the EU’s present energy policy. Indeed, the efforts made…

27 Feb 2013

GL Garrad Hassan: Policy and Grid Shape Wave and Tidal Risk Profile

Photo: GL Garrad Hassan

GL Garrad Hassan has carried out new analysis questioning the perception that the risk profile of wave and tidal projects is primarily driven by technical challenges. The work was launched as part of RenewableUK's Annual marine energy report "Conquering Challenges, Generating Growth" at the industry association's 10th Wave and Tidal conference. Adopting a bird's eye view of the industry, the work demonstrates that much of the risk associated with marine energy projects emerges from the electrical and political systems in which they must operate.

26 Jan 2011

Keppel Corp. Year End Results for 2010

The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the full year ended 31 December 2010. The FY 2010 Report Card and the Address by Mr Choo Chiau Beng, Chief Executive Officer, are below. The full set of financial documents for the results and the Address by Mr Teo Soon Hoe, Senior Executive Director and Group Finance Director, are attached and also available for download below. 1. Net profit before exceptional items improved 12% to S$1,419 million, compared to FY 2009's S$1,265 million. 2. Earnings Per Share of 88.7 cents, up 12% from FY 2009's 79.4 cents. 3. ROE remained above 20%. 4. Economic Value Added before exceptional items increased from S$1,026 million to S$1,035 million.

15 Mar 2011

New Report on Norwegian Energy Policy

Norway  is  pursuing  ambitious,  forward-thinking  energy  policies,  but  could  go  further  in  its efforts to become a low-carbon economy, the International Energy Agency (IEA) has concluded in a review published today. Energy Policies  of  IEA Countries  - Norway  2011 Review  says  that  it will  be  challenging  for Norway  to meet  its 2020  target of  reducing greenhouse gas emissions by 30% compared with 1990  levels,  because  both  the  country’s  electricity  supply  and  its  energy  use  in  buildings  are already essentially carbon-free due to hydropower use.

05 Jul 2012

IEA: Renewable Energy Growth Will Accelerate

Renewable power generation is expected to continue its rapid growth over the next five years, according to a new report from the International Energy Agency<http://www.iea.org/> (IEA) that acknowledges the coming-of-age of the renewable energy sector. The report says that despite economic uncertainties in many countries, global power generation from hydropower, solar, wind and other renewable sources is projected to increase by more than 40% to almost 6 400 terawatt hours (TWh) - or roughly one-and-a-half times current electricity production in the United States. The study, released, marks the first time the IEA has devoted a medium-term report to renewable power sources, a recognition of the dynamic and increasing role of renewable energy in the global power mix.

12 Aug 2009

Hywind Power Line in Place

The 13-kilometre submarine cable to carry electricity from the Hywind floating wind turbine has now been installed and tested in the sea north-west of Stavanger. Once generation starts, the power will come ashore in Røyrvika near Skudeneshavn on the island of Karmøy and be delivered to local grid operator Haugaland Kraft. This pilot project, based on StatoilHydro’s own concept, ranks as the world’s first full-scale floating wind turbine. It arrived on location 10 kilometres from land in late June.