Norwegian Energy Company News

Ursula von der Leyen, the president of the European Commission, on Thursday named the world’s first-ever container vessel sailing on green methanol.At a ceremony in Copenhagen on September 14, where the Maersk-owned vessel arrived from Ulsan in South Korea, Von Der Leyen acted as the ship's godmother and named the vessel 'Laura Maersk'.The Danish-flagged 172-meter-long vessel has been described as a key milestone for A.P. Moller-Maersk’s plans to achieve net zero greenhouse gas emissions in 2040 across the entire business.To meet its 2040 target of net zero greenhouse gas emissions in time…

Danish shipping company A.P. Moller - Maersk announced it has signed an agreement with Norwegian energy company Equinor to secure supply of methanol for its new methanol-enabled feeder vessel during its initial months of operation from September 2023 and into the first half of 2024.The agreement ensures methanol supply for the ship from its entry into operation on a loop from Northern Europe into the Baltic Sea after the name giving ceremony later this month in Copenhagen. The green methanol will be bunkered in Rotterdam.The 2…

Norwegian energy company Equinor announced it has entered into an agreement to sell its oil terminal in the Bahamas to Estonian logistics and investment business Liwathon. Financial terms of the deal were not disclosed.The South Riding Point oil terminal at the Grand Bahama Island, commissioned in 1973 was purchased by Equinor in 2009 to enable the company to trade oil primarily originating from the American markets. The facility comprises 10 large storage tanks with a capacity of 6.8 million barrels (1…

Northern California has some of the strongest offshore winds in the U.S., with immense potential to produce clean energy. But it also has a problem. Its continental shelf drops off quickly, making building traditional wind turbines directly on the seafloor costly if not impossible.Once water gets more than about 200 feet deep – roughly the height of an 18-story building – these “monopile” structures are pretty much out of the question.A solution has emerged that’s being tested in several locations around the world: wind turbines that float.In California…

Five developers selected to build the first floating wind farms in U.S. federal watersTo support the California Energy Commission’s planning goals of 2-5 GW of offshore wind by 2030 and 25 GW by 2045 as well as a federal target to deploy 15 GW of floating wind by 2035, the Bureau of Ocean Energy Management (BOEM) has concluded the auction date for five 33-year leases offshore California. Exhibit 1 summarizes the outcome of the auction and estimates the potential of the lease areas using BOEMs standard power density formula of 3 MW per square kilometer…

Norwegian offshore vessel operator Eidesvik Offshore said Wednesday it has been awarded a contract for its 2012-built platform supply vessel (PSV) Viking Prince.The deal with Norwegian energy company Equinor is for a firm six-month period, plus options for further extensions. The contract will commence in April or May of this year.The liquified natural gas (LNG)-fueled Viking Prince was upgraded to battery hybrid system and a shore power system in January 2022.Gitte Gard Talmo, president and CEO of Eidesvik, said, “Equinor and Eidesvik have had a close collaboration for a number of years.

Belgium based shipping company Exmar has taken delivery of the newly built dual-fuel liquefied petroleum gas (LPG) carrier Flanders Innovation from Jiangnan Shipyard in China.The 88,000-cubic-meter-capacity very large gas carrier (VLGC) is the first of two ordered by Exmar and is said to be the largest dual-fuel LPG carrier in the world.The innovative vessel, capable of running on LPG fuel, is is expected to slash operational emissions by 38% compared to the International Maritime Organization (IMO) reference lines for VLGCs…

Norwegian maritime and offshore training software firm Mintra said it has appointed Kevin Short as CEO. Short, who has been chief commercial officer since 2018, takes over the leadership role from Scott Kerr following his decision to join the firm’s board of directors.“In these post-Covid times and as we slowly return to a world that can be considered more normal, there are tremendous prospects for both digital learning and human capital management software. We know that how things worked before – people constantly travelling to training facilities – will not be the same going forward.

Norwegian energy company Equinor said it has been selected to provide New York State with offshore wind power in one of the United States' largest renewable energy procurements to date.Under the award, Equinor and partner BP will provide 1,260 megawatts (MW) of renewable offshore wind power from Empire Wind 2, and another 1,230 MW of power from Beacon Wind 1, each calling for more than 90 turbines off the coast of Long Island—adding to the existing commitment to provide New York…

Norwegian energy company Equinor has proposed the Port of Albany, in upstate New York, as the first offshore wind tower manufacturing facility in the  U.S."Developed jointly with leading wind industry manufacturers Marmen and Welcon, Equinor stands ready to transform the port for manufacturing offshore wind towers and transition pieces (TPs), creating up to 350 direct jobs in the region," Equinor said.The Port of Albany extension initiative is part of the bid Equinor submitted…

South Korean shipbuilder Hyundai Mipo Dockyard has secured an order for three medium sized gas carriers (MGC) from Singapore's Eastern Pacific Shipping (EPS).EPS says it has reached an agreement with Norwegian energy company Equinor for the time charter of three liquefied petroleum gas (LPG) dual-fuel propulsion newbuilds, which are scheduled to be delivered in 2022.The three vessels will add to EPS' existing fleet of 11 vessels including the three LPG tankers acquired from Neu in September 2019 and the delivery of two MGCs from Hyundai Mipo Dockyard earlier this year.

Norwegian energy company Equinor has contracted Italian cable manufacturer Prysmian to supply the submarine inter-array cable system for the 816-MW Empire Wind project off the coast of New York.Prysmian will provide the 66kV insulated array cables and ancillaries that will transmit power from the wind turbines which will have a capacity in the range of 10-15MW.The cable system will undergo continuous fabrication at Prysmian’s centres of excellence in Montereau (France) and Nordenham (Germany) and its completion is expected in the summer of 2022 and the final installation in 2023 or 2024.The construction of the cable system’s power cores…

Ireland-based energy company Electricity Supply Board (ESB) and Norwegian energy company Equinor plan to jointly develop offshore wind sites and enter them into the country's renewable energy auctions from the mid-2020s.The partnership will work to identify suitable sites for new offshore windfarms in Irish waters and work to mature potential future wind projects. The potential for energy storage technology and other technologies to complement offshore wind operations will also be examined. It is the ambition of the partnership to explore opportunities for large scale wind projects towards commercial operation by 2030, thus contributing to the wider goals of the Irish Government on energy transition.Furthermore…

AET, a petroleum tanker owner and operator, has named its newest vessels, two of the world's first LNG Dual-Fuel Dynamic Positioning Shuttle Tankers (DPSTs). The vessels, the cleanest DPSTs ever built, will emit 40-48% less carbon than equivalent vessels built in 2008, meeting the International Maritime Organization's (IMO) target of reducing carbon (CO2) emissions by 40% against 2008 baselines by 2030, and halving CO2 emissions by 2050.These LNG Dual-Fuel DPSTs also emit 85% less SOx…

Norwegian energy company Equinor reached a milestone at its Hammerfest LNG facility on Melkøya Island, “the Snøhvit plant”,  by loading the 1000th cargo of the chilled fuel.The cargo consists of 140 500 cubic metres of liquefied natural gas (LNG). Total sales value of all the LNG cargos since the field came on stream is in the range of NOK 130-150 billion. In addition, we have the value of liquefied petroleum gas (LPG) and condensate.Arctic Discoverer is the name of the tanker that will carry cargo number 1000 from the Hammerfest LNG plant. It will transport an LNG cargo from Melkøya to Bilbao in Spain.With this cargo the plant has produced and delivered LNG at a value of NOK 130-150 billion since it came on stream in 2007, depending on the prices achieved in the period.

Stunned residents of the Bahamas surveyed the wreckage of their homes and officials struggled to assess the number killed by Hurricane Dorian, as the storm bore down on the South Carolina coast, threatening record flooding on Thursday.The United Nations said 70,000 people in the Bahamas needed immediate humanitarian relief after the most damaging storm ever to hit the island nation.Aerial video of the worst-hit Abaco Islands in the northern Bahamas showed widespread devastation…

An unspecified amount of oil was observed on the sea surface early Wednesday morning in connection with loading oil from buoy to shuttle tanker on the North Sea Statfjord field, Equinor announced.The loading operations were stopped when this was discovered, and the loading systems were shut down, the Norwegian energy company said.Efforts to map the extent of the oil observed on the sea surface are underway, Equinor added.Equinor said its emergency response organization has been mobilized…

Norwegian energy company Equinor has announced its 2018 sales of natural gas totalled $26bn, an increase of 29% from 2017.Equinor sold a total of 100 billion cubic metres (bcm) of gas worldwide in 2018. The company is the second-largest gas supplier to Europe, as well as the largest producer of natural gas on the Norwegian Continental Shelf (NCS)."As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10% towards 2030," Equinor said.Equinor is the largest producer of natural gas on the Norwegian continental shelf and the second-largest gas supplier to Europe. The company also has a significant gas portfolio outside Norway.

South Korean shipbuilder Samsung Heavy Industries (SHI) has successfully completed the processing platform (P1) for Johan Sverdrup Field development and delivered it to Equinor according to the scheduled delivery date stated in the original contract.SHI has secured Contract worth 650 billion won ($ 5.84m) from a Norwegian energy company Equinor in 2015 to build the large oil production platform, measuring 136m long, 69m wide and 72m high, and weighing 28,100 tonnes.Reflecting the ‘Lessons Learned system’ developed from its previous experiences in large-scale offshore projects such as Shell Prelude FLNG, Egina FPSO, etc., SHI has been able to minimize potential risks in advance…

Shell loads first LNG vessel, using new LNG fuel infrastructure at Gate terminal. The new LNG fuel infrastructure included the construction of a new berth. This new berth has now started operations. The loading of Shell’s chartered LNG vessel, the Coral Methane happened on September 19th. In July 2014, Shell took the Final Investment Decision to buy capacity at the Gas Access to Europe (Gate) terminal, which enabled the investment in new, dedicated liquefied natural gas (LNG) fuel infrastructure. The new LNG fuel infrastructure included the construction of a new berth.

Norwegian Energy Company ASA (Noreco) announces that Tommy Sundt is stepping down as CEO of Noreco ASA. Since joining Noreco in September 2014, Tommy Sundt has played a very important role during the financial and corporate restructuring of the Company. Whilst Mr. Sundt’s role as CEO for the Noreco group will cease with effect from this announcement, Mr. Sundt will continue to fill the role as general manager for the Norwegian operations until the end of 2015. Mr. Sundt’s departure has been agreed with the Board and Mr. Sundt will receive severance payment in accordance with his contract. The Board of Noreco ASA will continue to lead the strategic initiatives and with Tommy Sundt stepping down, the Board will actively engage in the day-to-day management of the group of companies.

Norwegian Energy Company ASA announces that it has reached an agreement with its joint venture partners in Denmark with respect to its forfeited licences and related abandonment liabilities. Noreco has terminated its joint venture and its participation in the Nini and Cecile oilfields (the “Licences”). According to provisions in the respective joint operating agreements, Noreco has forfeited and transferred its participating interests in the Licences to the Partners on a pro-rata basis. In addition, the settlement for claims on defaulted cash calls and capping of the abandonment liability includes a cash consideration of NOK 60 million, and an 18.2 per cent working interest in the Lulita field.

As previously reported, Norwegian Energy Company ASA’s (Noreco) Danish subsidiary was in January prevented from making payments for its share of production costs at the Nini field, and it was consequently in breach of the licence agreement. As this situation was not remedied as of 21 March 2015, the other partners may now claim Noreco’s 30 per cent interest in the licence without any consideration. As part of the negotiations to agree on an overall restructuring proposal for Noreco, a committee of bondholders stated that their consent would require that the costs and cash flows related to Noreco’s operations in Denmark must be improved.