Energy Capital News

Amogy, developer of emission-free ammonia power solutions, on Tuesday announced it will open a new manufacturing facility in the energy and maritime hub city Houston.The Brooklyn-headquartered company said it will invest more than $40 million to renovate a 53,000-square-foot manufacturing facility that was formerly used to produce oil and gas equipment. The site is located within four acres of space that Amogy leases.Set to be operational in early 2024, the facility will be used for the assembly manufacturing of Amogy’s “powerpack” clean energy solution…

Trelleborg said its marine and infrastructure operation in North America has recently moved into its new sales office in Houston, Texas, in a move aimed at meeting the growing demands across all North American markets and providing more localized and coordinated customer support for its complimentary product offerings, which include marine fender systems, docking and mooring equipment, transfer link systems, and navigation and piloting solutions.The new 8,600-square-foot office located on the west side of Houston places Trelleborg in the heart of the Houston metro area.

Russia’s state-owned nuclear company Rosatom said its floating nuclear power plant has been connected to the grid and has commenced electricity production for the first time in a remote region of Russia.The floating power unit (FPU) Akademik Lomonosov has been connected to the grid, generating electricity for the first time in the isolated Chaun-Bilibino network in Pevek, Chukotka, Russia’s Far East. This happened after the Russian regulator Rostekhnadzor issued an operations permit, as well as permission to connect to the northern electricity grid maintained by Chukotenergo JSC.Rosatom’s Director General Alexey Likhachev said: “After its connection to the grid, Akademik Lomonosov becomes the world’s first nuclear power plant based on SMR-class technology to generate electricity.

South Korean public natural gas company Korea Gas Corporation (Kogas) and Vietnam-focused development and asset management company Energy Capital Vietnam (ECV) have entered into a memorandum of understanding (MOU) for the development of a privately-funded LNG regasification terminal in Vietnam.The MOU also covers the development of a storage facility, gas supply system, and a 3,200 MW gas-fired power project near Mui Ke Ga, Binh Thuan Province, Vietnam, said a press note.The MOU contemplates KOGAS and ECV working together to optimize their efforts to meet the significant LNG demand growth forecasted for Vietnam. The scope of the MOU covers matters relating to cooperation and collaboration for the Project.David Lewis…

Energy companies have become a larger presence in the US high-yield bond market this year, relying on debt to fund capex as they expand exploration and production activity, but months of heavy issuance and weaker oil prices are taking their toll. Some recent bond deals have struggled to get across the line, only to end up still getting punished in secondary. Apollo's US$1.1bn LBO bond for Jupiter Resources, for example, has traded as low as 89 - even after coming to market last month with a five-point discount. "A lot of high-yield energy companies, particularly those developing shale plays, are spending more money than they are taking in," Patrick Faul, head of research at Calvert Investments, told IFR.

DNV GL is relocating its oil and gas head office in Norway from Høvik to Stavanger in order to be even closer to its customers, the company said. Local delivery capacity will be expanded in Stavanger and Bergen and operations will continue in Høvik, Sandefjord, Trondheim and Harstad. DNV GL’s operations in Norway are led by Regional Manager Marianne Hauso. “The oil and gas industry is facing rapid changes, increasing costs and growing public scrutiny on its safety and environmental performance.

Thomas Alva Edison, who is considered to be one of the most prolific inventors in history, once said, “I find out what the world needs. Then I go ahead and try to invent it.” His invention of the long-lasting electric light bulb was exactly what the world needed and has revolutionized the way we live today. Since then, the explosive growth of the electric power industry has brought about as many challenges as it has accomplishments. What the world needs now are solutions for the critical issues affecting modern power systems. Schweitzer Engineering Laboratories, Inc.

Work is now well underway to build a new North Sea headquarters in Aberdeen for the U.K. independent oil producer EnQuest. Aberdeen’s Lord Provost yesterday, Tuesday, November 12, gave his seal of approval to what is set to become a new landmark building in the city. EnQuest’s new HQ will replace the derelict Aberdeen Seafood Park in the city’s harbor area. The company currently employs around 500 people at two locations in Aberdeen, and will occupy the building, which will provide accommodation for up to 800 people when completed in 2015.

Oil service company Danish Welltec signed an agreement to set up a factory in Esbjerg. The factory will enable Welltec to increase production and ensure the quality of the company’s newest and most advanced products, which are exported globally. Mayor Johnny Søtrup looks forward to welcoming the company in the EnergyMetropolis. “Together with Esbjerg Business Development Center I have been in dialogue with Welltec since the spring. A delegation from Esbjerg was even at the opening of Welltec’s new U.S.

Through water communication and positioning technology company, Nautronix, celebrated 30 years in the oil and gas industry this week. Their financial year has come to an end and they are reporting growth in 2012/2013 of more than 41% on the previous year, the company said, with revenue increasing to £16.1 million which demonstrates how much the company has grown over the years. The success of the company comes from the introduction of the Survey Services division and a number of significant contract wins including recently awarded contracts with an approximate value of £2.8 million. As a result of the growth and success of Nautronix in the past year…

At a briefing held Wednesday at the Port of Houston Authority, U.S. McCaul chose the port as the site to host the briefing on security and emergency preparedness to illustrate the importance of the Port of Houston to the nation's economy and energy security. The Port of Houston is home to the largest petrochemical manufacturing complex in the United States and second largest in the world. McCaul met with Port of Houston Authority officials as well as Houston, Harris County and…

Fugro Atlantic to undertake a geological and geophysical survey for the Virginia Wind Energy Area for the Commonwealth of Virginia. The survey area covers over 45,000ha in the Atlantic Outer Continental Shelf and is seen to be a key step forward in developing offshore energy supplies in the region. Fugro Atlantic vice president Tom McNeilan, indicated that the Atlantic Outer Continental Shelf has never been developed for energy purposes and there is little record of how installed structures have performed and only basic knowledge of the character of the seafloor and sub-surface is available. Fugro’s successful execution of detailed geotechnical and geophysical investigations for the Cape Wind project in Nantucket Sound…

Gamesa Technology Corp., a global wind energy company, and the shipbuilding operations of Northrop Grumman Corp., America's largest shipbuilder, launched the Offshore Wind Technology Center to jointly develop the next generation of offshore wind systems that will be deployed in the United States and around the world. Plans call for the development of North America's first offshore wind turbines by late next year. "Virginia is pleased to be the nexus where two industry leaders will join forces in the name of offshore wind innovation," said Virginia Governor Bob McDonnell. "The Commonwealth offers all the attributes needed to provide an optimal location for offshore wind energy production, and to become the East Coast epicenter for the offshore wind supply chain.

The dockwise vessel M.V. Mighty Servant I is currently docked and preparing its deck to load the oil rig MODU Ocean Rover. The M.V. Mighty Servant I, a semi-submersible heavy lift vessel, will shift to Port Freeport’s deep-berthing area and ballast down to a depth that will allow the rig to float onto the deck of the ship. The rig arrived on November 18th at 11:45 a.m. and moored next to the monopiles at the deep water berth. The vessel, MSI, was scheduled to shift into position on November 20, to load the rig. This process will take several hours and will be a very impressive sight. Executive Port Director, A.J. “Pete” Reixach Jr. said, “ Port Freeport dredged our deep berthing area to a depth of 70 ft. to allow this type of business.

Horizon Offshore, Inc. recently completed a private placement of restricted shares of common stock with several accredited investors. The company issued 52,650,000 common shares at $0.38 per share raising $20,007,000 before deducting commissions and other expenses. The net proceeds from the private placement will be used for working capital and general corporate purposes. Energy Capital Solutions acted as the company's placement agent in connection with this private placement. The company also announced that it had contemporaneously exchanged $8,000,000 in aggregate principal amount of its 8% subordinated notes for non-interest bearing convertible notes that are convertible into shares of the company's common stock at $0.38 per share until December 31, 2005.