Driven by strong cash generation, oil major Shell will be increasing its returns to shareholders through share buybacks or dividends. In its 2Q 2021 update on Wednesday, Shell said it will move to the next phase of its capital allocation framework and, subject to final board approval, increase total shareholder
Malaysia’s LNG giant Petronas has signed a ten-year agreement to supply LNG to a subsidiary of China National Offshore Oil Corporation (CNOOC). Courtesy of CNOOC The agreement is for 2.2 million tonnes per annum (mpta) for a ten-year period. It is valued at approximately $7 billion over ten years. This
Shell Gas & Power Developments B.V. and Uniper Hydrogen GmbH have signed a memorandum of understanding to explore accelerating the development of a hydrogen economy in Europe. Under the MoU, the companies intend to find joint opportunities to couple industrial and mobility demand with hydrogen supply, production, and storage. Shell
Containership owner and operator Seaspan Corporation, part of Atlas Corp. has revealed a new order encompassing ten 7,000 TEU dual-fuel LNG containerships. Seaspan said today it will enter into agreements with an unnamed shipyard to construct the LNG boxship fleet. Also on 6 July, Seaspan and Israeli shipping company ZIM
French cleantech company Ecoslops has started the production of recycled fuel from maritime transport at La Mède platform biorefinery. Courtesy of TotalEnergies The production consolidates the agreement signed between TotalEnergies and Ecoslops SA2, a company that produces fuel and light bitumen from hydrocarbon residues from maritime transport, in 2019. From
Greece’s LNG shipping company GasLog has entered into an agreement with Venice Energy for the supply of an FSRU as part of a proposed LNG import terminal in South Australia. Courtesy of GasLog The Outer Harbor Project is an LNG import terminal based on a floating storage and regasification unit
Dutch marine biofuels supplier GoodFuels and bulker owner and operator Berge Bulk have carried out the first marine biofuel trial on a dry bulk carrier. The vessel selected for the trial was a 181,403 dwt bulk carrier, Berge Tsurugi. As informed, the bulker received a delivery of GoodFuels’ sustainable biofuel during
Fifteen port authorities, industry groups and environmental organizations have signed a letter calling on the US Congress to include at least $20 billion in any infrastructure deal to support the decarbonization of the shipping industry. In the letter, the organizations call for the $20 billion investment to go towards research
Rob Dargewitcz has resigned as a chief financial officer (CFO) of Canadian LNG project developer Pieridae Energy. Courtesy of Pieridae Energy Rob Dargewitcz‘s resignation will be effective 30 July 2021. Pieridae reports Dargewitcz left in order to pursue other opportunities. The company noted that the departure is not related to
French LNG containment specialist GTT has received an order from the Korean shipyard Hyundai Samho Heavy Industries (HSHI) for the tank design of a new LNG carrier. Courtesy of GTT Hyundai Samho ordered the tank design for an LNG carrier of a European ship-owner. The carrier will be capable of
A Trans-Atlantic alliance formed of 22 German and 18 Canadian organizations demands the immediate shutdown of the GNL Québec project in Canada and the Stade LNG in Germany. Courtesy of Hanseatic Energy Hub GNL Québec announced a strategic partnership with the Hanseatic Energy Hub in June 2021. The company Hanseatic
