Gas Projects News

Trinidad and Tobago's government is optimistic two flagship offshore gas projects with neighboring Venezuela to be operated by Shell, BP and Trinidad's National Gas Company will move forward amid political changes in the OPEC country, the energy minister of the twin-island nation said on Wednesday.The U.S. has been relaxing sanctions on Venezuela's energy industry as part of an ambitious $100 billion reconstruction plan since U.S. forces captured President Nicolas Maduro last month.

Bureau Veritas Marine & Offshore (BV) announced the launch of its Gas Center of Excellence in Doha, Qatar, strengthening its commitment to supporting the continued growth of LNG and gas projects worldwide. The Center brings together BV’s expertise in gas carrier operations, classification, and regulatory compliance to deliver integrated, future-ready support across the gas value chain.Staffed by a team of gas specialists with experience in gas carrier operations, both for new building phases and for vessels in service…

Eastern Shipbuilding Group (ESG) completed and redelivered HOS Rocinante, a first-of-its-kind U.S.-flagged Service Operation Vessel (SOV) converted for Hornbeck Offshore Services.The vessel marks a milestone in the evolution of the U.S. offshore service fleet to be future-ready for both the offshore wind and petro-energy sector demands for broadly capable marine support vessels.Originally built by ESG as an offshore supply vessel, HOS Rocinante unerwent extensive conversion at ESG’s Allanton and Port St Joe Shipyards in Panama City…

Russia's Lukoil is selling its international assets after the U.S. imposed sanctions on the company.Washington refused to approve the sale of assets to Swiss commodity trader Gunvor, throwing Lukoil's operations in disarray and leading to a scramble of potential buyers.The U.S. Treasury cleared potential buyers to talk to Lukoil until December 13. They will need separate approval for specific deals. U.S. oil major Chevron is studying options to buy some global assets of Lukoil, sources have said. U.S.

Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from previous expectations of a speedy transition to cleaner fuels following U.S. criticism about its climate focus.The Paris-based energy security watchdog also predicted in its annual outlook that the world will likely fail to meet its goal to cap the rise in temperatures to as close as possible to 1.5 degrees (2.7 degrees Fahrenheit) above pre-industrial times to avoid the most devastating effects of climate change.The IEA has been under pressure from the U.S.

The Arctic is no longer a remote expanse beyond the edges of global commerce — it is now a contested arena where strategic competition, energy development, and maritime innovation converge. As climate change accelerates sea ice retreat, previously impassable waters are opening to navigation for longer periods each year. This change unlocks shorter trade routes, exposes massive untapped hydrocarbon and minerals reserves, and creates demand for ships able to operate in some of the harshest conditions on Earth.In this evolving environment…

Several news items this week highlight the potential consequences of uncertainty in the energy market.Fugro scrapped its annual outlook and announced further job cuts, citing an impact from project delays. The company said that projects in the offshore wind and oil and gas markets would be delayed into 2026 and their scope cut back, resulting in an estimated 100 million euros ($117.5 million) impact on its revenue."The previously anticipated 20% revenue growth is no longer realistic…

MMA Offshore, a subsidiary of Cyan Renewables, has secured a multi-year contract from Chevron Australia for its platform supply vessel (PSV) MMA Plover.The vessel has been contracted to provide marine logistics support to Chevron’s Barrow Island and Wheatstone assets, located off the coast of Western Australia.The assets are producing natural gas for Western Australia and liquified natural gas (LNG) for the Asia Pacific region, and house one of the world’s largest Carbon Capture…

Shell plans to complete a marine survey at Venezuela's offshore Dragon gas field before a U.S.-set May deadline to wind down all licenses related to energy projects in the country, sources close to the preparations said.Colombia-flagged survey vessel Dona Jose II arrived in U.S.-sanctioned Venezuela this month to gather data for Shell and Trinidad's National Gas Company, according to LSEG vessel monitoring data.The exploration work, to be completed in the coming weeks, will allow…

A Scottish court has invalidated Britain's approvals for two major North Sea oil and gas projects, delivering a significant victory to environmental groups and raising uncertainty over future fossil fuel developments in the UK.The Court of Session in Edinburgh found that the government had unlawfully granted approval for Shell's Jackdaw gas field and Equinor's Rosebank oil and gas field by failing to consider the emissions generated when the extracted fuels are burned—known as downstream emissions.

Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow's top customers, traders and analysts said.The U.S. Treasury on Friday imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, as well as 183 vessels that have shipped Russian oil, targeting the revenues Moscow has used to fund its war with Ukraine.Many…

This week at MarineLink…A noteworthy vessel was introduced to the fixed-bottom offshore wind sector this week. The offshore installation vessel Boreas was delivered to Van Oord by Yantai CIMC Raffles Offshore in China. The vessel will be the largest of its kind once operational, and it is purpose-built for the transport and installation of foundations and turbines up to 20MW capacity turbines.China’s Dongfang Electric is already building 26MW turbines, part of an on-going upsizing of projects that is driving up the size of these specialized…

Texas-based exploration and production company Beacon Offshore Energy has awarded a contract to Subsea7 for the work on Monument development in the U.S. Gulf of Mexico.The project involves the installation of a high-pressure 27-kilometre subsea tieback to the Shenandoah Floating Production System (FPS), located in Walker Ridge Block 316 at water depths reaching up to 2,000 meters.Subsea7's scope of work includes the engineering, procurement, construction, and installation (EPCI) of subsea equipment…

Heavy lift and transport services firm Mammoet has launched the SK6000 land-based crane, said to be the world’s strongest, capable of handling large offshore wind components and delivering reduced integration times to offshore oil and gas projects.The 6,000t capacity of the SK6000 crane enables faster construction methodologies across the energy sector, according to Mammoet.The SK6000 is expected to have a major role in offshore wind, where fast growth of components in recent years has led to supply chain issues.

Seismic work at offshore gas fields shared by Venezuela and Trinidad and Tobago is expected to start in the coming days, the Caribbean country's energy minister Stuart Young said on Friday on social media.Venezuela in July issued a 20-year license allowing the development of its side of the reservoir, the Cocuina field. The U.S. earlier this year also authorized the project, to be developed by Britain's BP and Trinidad's National Gas Company.The Cocuina and Manakin fields, whose Venezuelan portion belongs to the idled offshore gas project Plataforma Deltana…

Baker Hughes cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region.However, the company raised its full-year revenue and profit estimates, banking on strong international growth and demand for gas equipment.Shares of the company, which beat analysts' estimates for second-quarter profit on Thursday, rose 4% to $36.99.Lukewarm demand and a wave of mergers have constrained producer budgets in North America…

Australia has awarded new offshore acreage for petroleum exploration and carbon capture and storage (CCS) opportunities.The Minister for Resources and Northern Australia Madeleine King will finalize permits for Esso and Beach Energy in the Otway and Sorrell Basins, with any discovered gas to support the domestic east coast market.Exploration permits will also be finalized for Chevron, INPEX, Melbana and Woodside Energy on Australia’s west coast. In addition, 10 permits will be finalized for carbon capture and storage exploration.“As ageing coal generation comes offline in coming years…

Australia's resources minister said on Thursday she backs the long-term exploration of potential natural gas projects, setting up a potential clash with opposition lawmakers and some in the incumbent Labor Party that oppose its use.Australia, one of the world's largest producers of liquefied natural gas (LNG), is committed to reducing its emissions to net zero by 2050.But Resources Minister Madeline King said in a column in the Australian Financial Review on Thursday, ahead of the launch of the government's Future Gas Strategy, that "gas is needed out to 2050 and beyond.""The energy transforma

Esgian reports that drilling contracts have been announced this week for operations in Brazil and the Philippines, and new discoveries have been confirmed in the UK and Namibia in its Week 11 Rig Analytics Market Roundup.ContractsCOSL Drilling has emerged as the winner for Petrobras' moored semisubmersible tender with the 4,600-ft Nanhai 8 (also known as Nan Hai Ba Hao).Noble has secured a high-dayrate drillship contract with Prime Energy in the Philippines.Drilling Activity and…

QatarEnergy has named the first LNG carrier to be delivered as part of its new LNG fleet expansion program as Rex Tillerson, in recognition of the former Chairman and CEO of ExxonMobil, who also served as the 69th United States Secretary of State.During his 10-year term as Chairman and CEO of ExxonMobil, Tillerson oversaw the consolidation of relations with the State of Qatar and its energy sector, resulting in strategic partnerships and significant investments in Qatar’s LNG industry.While making his mark on the global energy scene…

The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade, driving demand for, among other things, moorings, subsea systems, umbilicals, risers, flowlines and the large anchor handlers and subsea support vessels that will install and maintain the elements.At the same time…

President Joe Biden paused pending approvals of exports from new liquefied natural gas (LNG) projects on Friday, a move cheered by climate activists that could delay decisions on new plants until after the November 5 election.The Department of Energy (DOE) will conduct a review during the pause that will look at the economic and environmental impacts of projects seeking approval to export LNG to Europe and Asia where the fuel is in hot demand.The review will take months and then will be open to public comment which will take further time…

Global floating wind capacity will have grown from less than 200 MW at the end of 2022 to around 61 GW of grid connected capacity by 2035. This activity will require over $250 billion in capital expenditure. Over 75% of the forecast activity is expected to come from four countries. The global forecast translates demand to a requirement to pre-lay more than 6,000 mooring spreads within the forecast period and the hook-up of around 5,400 turbines. The available market for vessel owners, ranging from pure T&I to full floater EPCI scopes of work, amounts to $28-145 billion in the forecast period.