Energy Research News

New York officials on Thursday awarded provisional contracts to two proposed offshore wind projects under a program meant to support the embattled industry and keep the state's clean energy goals on track.The state selected a planned 810-megawatt project, Empire Wind 1, (developed by Equinor) and Sunrise Wind, a planned 924-megawatt project (developed by Orsted and Eversource).The closely watched solicitation by the New York State Energy Research and Development Authority (NYSERDA)…

There is no denying that 2023 was a challenging year for the U.S. offshore wind market. Citing macroeconomic factors including high inflation, rising interest rates, and supply chain bottlenecks, Ørsted announced on October 31 that they were ceasing the development of the Ocean Wind 1 and Ocean Wind 2 projects, which were scheduled for construction off the coast of New Jersey. Unfortunately, the troubling news has continued into the new year, with Equinor and BP announcing on…

Chinese state media warned on Friday that a report by a prominent U.S. think tank on the military uses of Chinese scientific research across the Indian Ocean gave "ammunition" to countries bent on concocting threats from China.The report this week by the Washington-based Center for Strategic and International Studies (CSIS) "comes at a time when some countries need to manufacture a 'China threat' narrative in the Indian Ocean region and provides them with ammunition", the state-controlled tabloid Global Times said in an editorial."The timing of this report is delicate…

Oil is flooding out of Texas in the final weeks of 2023, as traders find outlets abroad for record U.S. production and dodge a hefty year-end tax bill on their inventories.U.S. crude exports, nearly all of which leave from the U.S. Gulf coast, averaged about 4 million barrels per day (bpd) so far this year, according to U.S. government data, about 500,000 more than last year's record as oil production climbed to 13.2 million barrels per day.U.S. West Texas Intermediate crude's wider discount to the global benchmark Brent , currently at about $4.50 per barrel, is making U.S.

Governments have decided to pay up to revive offshore wind farm developments after rising costs put at risk multiple projects that are needed to help them cut emissions and reach climate targets.Many countries are relying on a huge and rapid build-out of offshore wind farms which have high upfront costs but over the longer term can provide cheaper energy than fossil fuel plants.But some countries' wind power capacity targets started to look unrealistic this year after developers cancelled projects in the U.S.

U.S.-based offshore wind developer Vineyard Offshore on Monday announced it has named Alicia Barton as the company’s new CEO, starting in January.Barton will take over for Lars T. Pedersen, who has led the company since it was founded in 2022 and before that led the team developing Vineyard Wind, the first commercial-scale offshore wind project in the United States, now under construction.“I had the pleasure of working with Alicia during the very early days of the Vineyard Wind project and know she brings an outstanding mix of skills and talent to Vineyard Offshore,” Pedersen said.

New York released a new offshore wind solicitation on Thursday to keep the state on track to meet its renewable energy goals and support a nascent industry that has faced financial trouble in recent months.Offshore wind is expected to play a major role in New York's plan to reduce carbon emissions by getting 70% of the state's electricity from renewable sources by 2030. It is also a pillar of President Joe Biden's plan to decarbonize the U.S. power grid and combat climate change.The state said it is supporting the development of 9…

The U.S. Department of the Interior on Thursday approved the Empire Wind offshore project, owned by Equinor and BP, the sixth commercial-scale wind farm to be greenlit under President Joe Biden's administration.Empire Wind is among several offshore wind projects facing construction and financing cost blowouts that the troubled industry says would not be covered by existing power sales contracts, but it could be helped by a new auction planned by New York state.Along with Danish counterpart Orsted, Equinor and BP have taken a combined $5 billion of writedowns on U.S.

New York State will issue a new offshore wind solicitation on Nov. 30 with bids due in January 2024, the state government said, in a move that should support the troubled industry. European energy companies Orsted, Equinor, and BP have taken a combined $5 billion of writedowns on U.S. offshore wind projects that are not even completed, in part because their existing power sales contracts would not cover the cost of building and financing the projects. That is because soaring inflation, rising interest rates, and supply chain problems have led to much higher costs than anticipated.

Danish energy firm Orsted's shock decision to cancel two offshore wind farms off New Jersey this week was based in large part on big delays securing the ship it needed to build the project, company officials said.The world's biggest offshore wind farm company on Tuesday said it would cease all development on the Ocean Wind projects even as it moves forward with developments off neighboring New York, triggering an angry response from New Jersey Governor Phil Murphy.The decision…

President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders.The 2030 target, unveiled shortly after Biden took office, is central to Biden's broader plan to decarbonize the U.S. economy by 2050. It is also crucial to targets of Northeast states hoping wind will help them move away from fossil fuel…

The transportation of CO2 is taking to the seas as emitters look for flexible ways to move captured carbon to offshore storage projects, with a fleet of 55 carriers required by 2030, according to Rystad Energy research.Based on planned carbon capture projects, Rystad predicts that more than 90 million tonnes per annum (tpa) of CO2 will be shipped by the end of the decade, volumes requiring 48 terminals to handle the import and export of the gas.As the global carbon capture, utilization and storage (CCUS) market expands…

Much has been written recently about the challenges facing U.S. offshore wind projects, resulting in requests to terminate or renegotiate contracts to sell power to states. Examples of these challenges can be found from Massachusetts to Virginia. Coming on top of last week’s somewhat disappointing events of the Gulf of Mexico lease auction, speculation has mounted around the longer-term prospects for U.S. wind. But how serious is this problem, and what does it mean to the longer-term goals of the federal administration to deploy 30 GW of offshore wind by 203 and 110 GW by 2050?Below…

Great Lakes Dredge & Dock Corporation has signed the first ever subcontract for rock procurement for a U.S. offshore wind farm with Carver Sand & Gravel LLC (“Carver”), a U.S. quarry in the state of New York.Through this subcontract, Great Lakes will use rock produced in the State of New York to provide scour protection for offshore wind turbine foundations, and substations at Equinor and BP's Empire Wind I and Empire Wind II wind farms. The rock will be quarried locally, transported to the quayside on the Hudson River…

Scientists warn that climate change is the greatest peril that humankind has ever faced. Yet oil and gas exploration is set to clock the highest growth for more than a decade this year and next. Protesters cause disruption but, for the moment, hydrocarbon energy underpins life as we know it“Offshore oil and gas production probably matters now more than ever,” said Audun Martinsen. The Rystad Energy Partner and Head of Energy Research told Maritime Reporter & Engineering News.“It…

Asian spot liquefied natural gas (LNG) prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.The average LNG price for July delivery into northeast Asia was down 6.6% from the previous week at $9.8 per million British thermal units (mmBtu), the lowest since May 2021, industry sources estimated."Prices continue to linger sub $10 as general demand remains lacking…

At the Sea Tech Week Maritime Transport conference this past September, held in Brest, France, there was no shortage of big-picture, creative ideas pertaining to maritime shipping and alternative energy.One such project, called Seaguel, was presented as part of a larger discussion on hydrogen (H2) as maritime fuel. The full session was titled “Distributing Hydrogen from Offshore Wind Farms as a Fuel for Ships.” The topic was developed by France Energies Marines (FEM), a public-private R&D collaborative focused on offshore renewable energy.Right now…

When Atlantic offshore wind (OSW) projects move into high gear they will kick-start a series of impacts affecting almost the entire East Coast economy, from logistics to transportation to utility projects and, of course, just about every aspect of port and maritime activities.The related topics of workforce development and employment are among the fundamental issues being pushed and pulled by OSW. How workforce development and education and training proceed – and succeed – will be critical for the U.S.

Shell PLC's LNG Canada export project in British Columbia plans to start building its proposed second phase with natural gas-powered turbines and switch to electricity as more renewable power becomes available, a top executive said, a decision that means the expansion project will initially generate high greenhouse gas emissions.LNG Canada, in which Japan's Mitsubishi Corp owns a 15% stake, is set to be Canada's first liquefied natural gas (LNG) export terminal. The first phase…

The United States is on track to become the world's biggest exporter of liquefied natural gas (LNG) this year - ahead of current market leader Australia - once a fire-idled Texas plant is restarted, according to Reuters data.A June fire sidelined Freeport LNG, the second biggest U.S. export facility, and cut U.S. exports of the fuel by about 2 billion cubic feet per day (bcfd). That outage dropped the United States behind top exporter Australia as global demand for the fuel boomed.In 2022, U.S. exports of natural gas as LNG rose 8% to 10.6 bcfd, just shy of Australia's 10.7 bcfd.

New York is seeking renewable energy to power at least 1.5 million New York homes in its third offshore wind solicitation, Governor Kathy Hochul said on Wednesday, as the state ramps up development of the industry.Administered by the New York State Energy Research and Development Authority, the first phase includes $500 million investment in offshore wind ports, manufacturing, and supply chain infrastructure.Release of the third offshore wind solicitation is the next step towards achieving New York's Climate Leadership and Community Protection Act (Climate Act) goal to develop 9,000 megawatts

General Electric recently filed a plan to build two new offshore wind manufacturing facilities in New York if it wins enough orders from companies in the state’s ongoing solicitation for up to 4.6 GW of offshore wind.GE proposed building the factories with Carver Companies at their Port of Coeymans site. The company said that, should it receive sufficient order volume, its LM Wind Power subsidiary would be ready to build a "state-of-the-art facility" for the construction of offshore wind turbine blades.

Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows. India has emerged as the significant Urals importer in the region, prompted by the crude’s attractive margin in relation to Middle Eastern grades, which have traditionally been the country’s staple.