Study: Shipowners opting for LNG risk $850 bln loss in stranded assets by 2030
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The world’s rapidly growing fleet of ships that can burn liquefied natural gas (LNG) is at risk of financial losses of $850bn by 2030, according to a new study by UCL Energy Institute researchers. Namely, 65% of the newbuilding deliveries by 2025 is capable of running on LNG as a …
French LNG containment specialist GTT has received the tank design order for two new LNG carriers (LNGCs) from Chinese shipbuilder Hudong-Zhonghua. Courtesy of Hudong-Zhonghua Shipbuilding On 20 September, GTT said it received an order from its partner Hudong-Zhonghua Shipbuilding for the tank design of two new LNGC on behalf of …
The Federal Court in Australia has ruled against energy giant Santos but in favour of an indigenous group in a case related to the development of the Barossa offshore gas project. As a result, drilling activities are suspended pending a favourable appeal outcome or the approval of a new environment …
The German government has signed an agreement in principle with energy companies Fortum and Uniper for a long-term solution that will allow the German State to take full control of Uniper and secure energy supply in the country. The parties have agreed on an amendment to the package of measures …
US-based ammonia power solutions company Amogy has entered into an agreement with Swiss commodity trader Trafigura to study the use of ammonia as a carrier to transport clean hydrogen from point of production to point of consumption. The finding of this joint research will help support industry-wide efforts to decarbonise …
As the current energy crisis sweeps across the world, the CEO of the Saudi oil and gas giant, Saudi Aramco, believes that ramping up oil and gas investments and devising a “more credible” energy transition roadmap is required to address climate priorities and energy security challenges in a bid to …
Norwegian integrated automation and energy specialist Høglund Marine Solutions has been selected to deliver integrated automation system (IAS) for three newbuild LNG bunkering vessels being built for Canadian shipowner Seaspan ULC. Courtesy of Høglund The IAS will connect the cargo handling, control and electrical propulsion systems on each of the three …
Perth-based energy company Norwest Energy has reached an agreement to acquire a 20% equity interest in Pilbara Clean Fuels (PCF), a company formed to progress the development of clean fuels production opportunities at Port Hedland, Western Australia. PCF is progressing a development concept for a mid-scale, electrified liquefied natural gas …
Scana-owned PSW Power & Automation has demonstrated a hydrogen-based shore power solution designed for the maritime industry. Courtesy of Scana / Photographer: Trude Brun Wilhelmsen The solution was presented at the pilot facilities on CCB’s shipyard in Ågotnes, Norway, on 19 September. A consortium comprising PSW Power & Automation, Westgass …
Naming ceremony; Image credit: ASKO Maritime Norwegian company ASKO Maritime AS hosted a christening ceremony last week for two fully electric, autonomous vessels in the Port of Moss, Norway. MS Marit and MS Therese are named after world-leading cross-country ski champions Marit Bjørgen and Therese Johaug, who acted as the …