European energy ministers have reached a political agreement under which the price of natural gas in the European Union will be capped in case it reaches excessive levels that do not reflect world market prices. The mechanism will be automatically activated in case the month-ahead price on the Title Transfer
Finnish shipbuilder Rauma Marine (RMC) has launched the construction of the second car and passenger ferry being built for the Spirit of Tasmania (TT-Line) based in Australia. The steel-cutting ceremony for the vessel, named Spirit of Tasmania V, was held on December 20. The construction of the first vessel from the
Air Liquide Engineering and Construction (Air Liquide) has won a liquefaction contract for Woodside Energy’s proposed H2OK hydrogen project in Oklahoma, US. Conceptual Image / Courtesy of Woodside According to the contract, Air Liquide will provide the engineering and fabrication of two 30 tonnes per day liquefaction units which will
US energy company NextDecade has signed a long-term sale and purchase agreement with Portuguese counterpart Galp for the supply of liquefied natural gas (LNG) from its Rio Grande LNG export project in Brownsville, Texas. Under the 20-year agreement, Galp will purchase 1.0 million tonnes per annum (mtpa) of LNG indexed to
The governments of Norway and France have signed a letter of intent (LoI) to cooperate on the development and deployment of carbon capture and storage (CCS). The aim of the agreement is to promote the development of CCS by creating a framework for cooperation between the two countries to facilitate
Governments need to move from talking about policies to implementation, the offshore wind industry needs to employ standardisation, and clear rules and regulations need to be set for green hydrogen in order to move faster with large-scale deployment and achieve meaningful progress in limiting global warming to 1.5 degrees Celsius.
Finnish technology company Wärtsilä has won a contract to supply its hybrid propulsion system for four new heavy lift vessels being built at the Wuhu Shipyard in China. The Orca Class vessels have been contracted by SAL Heavy Lift GmbH, a German heavy lift and project cargo specialist and part of
Italy’s oil and gas giant Eni and energy infrastructure operator Snam have formed a joint venture to develop the first carbon capture and storage (CCS) project in Italy. Source: Eni Eni CEO Claudio Descalzi and Snam CEO Stefano Venier signed an agreement on 19 December to jointly develop and manage Phase 1
The Mediterranean Sea has been designated as an Emission Control Area for Sulphur Oxides and particulate matter at last week’s MEPC 79th session. The designation means that as of 1 May 2025 ships will be required to use marine fuel with reduced sulphur content. The permissible sulphur content will fall from