Worldwide dependence on oil and gas has been in evidence ever since the Ukraine crisis started, casting doubt over the pace and the lengths the world is prepared to go to in order to embrace decarbonisation. While the shift to green energy investments is undoubtedly both necessary and inevitable, the current
German Mechanical Engineering Industry Association (VDMA) and German Shipbuilding and Ocean Industries Association (VSM) have presented a power-to-X (PtX) roadmap for the maritime energy transition. Illustration. Courtesy of Venti Views on Unsplash PtX fuels play a key role in climate-neutral shipping. On the pathway toward climate-neutral shipping, VDMA and VSM are working
In the midst of the current geopolitical crisis and increasing energy security concerns, Wood Mackenzie, an energy intelligence group, has pointed out that Asia’s decarbonisation ambition does not match reality, as coal demand risks becoming stickier while gas prices stay high and renewable plans stall. While COP26 was seen as a
UK-based oilfield services provider EnerMech has secured new contract awards worth over $126 million in Africa, Caspian and the Middle East. The clinched deals and those in the pipeline are spurring the firm to further increase its headcount by adding another 280 employees over the next few months. EnerMech revealed on Wednesday that
Worldwide dependence on oil and gas has been in evidence ever since the Ukraine crisis started, casting doubt over the pace and the lengths the world is prepared to go to in order to embrace decarbonisation. While the shift to green energy investments is undoubtedly both necessary and inevitable, the current
Texas-based petroleum firm Buckeye Partners has closed the acquisition of Bear Head Energy, which owns an LNG and clean energy project in Nova Scotia, Canada. Illustration only; Courtesy of Buckeye Partners Bear Head Energy is developing a large-scale green hydrogen and ammonia production, storage and export project in Point Tupper,
Norwegian seismic company PGS and Australia’s deepC Store Limited (DCS) have entered into a subscription agreement under which dCS will issue shares to PGS in exchange for geological and geophysical advisory services. As a result of the agreement, PGS will become a major shareholder in dCS. The two companies have
German investment bank Deutsche Bank and Turkish state-owned LNG company Botas have finalised a $927 million three-year loan for LNG purchases. Illustration only; Courtesy of BOTAS On 13 July, Deutsche Bank announced closing a €925 million ($927 million) three-year loan facility with Botas. The loan is guaranteed by the Ministry
According to the Energy Information Administration (EIA) report, LNG exports from the U.S. increased by four LNG carriers from last week. Courtesy of Venture Global LNG In the latest Short-Term Energy Outlook for the week between 7 and 13 July, EIA reports that 23 LNG vessels departed the United States.
MS Medstraum, the world’s first fully electric and zero-emission fast ferry classed as a high-speed craft, has embarked on the journey from the Norwegian Fjellstrand shipyard to its new home port, Stavanger. Test run of TrAM vessel Medstraum at Fjellstrand Yard. Courtesy of Marius Knutsen/Maritime CleanTech The ferry has been