Global Energy Investment Totals $1.8trln in 2018
Global energy investment totalled more than USD 1.8 trillion in 2018, a level similar to 2017, said the International Energy Agency (IEA).The investment stabilised in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables.IEA's latest annual review said that for the third year in a row, the power sector attracted more investment than the oil and gas industry.The biggest jump in overall energy investment was in the United States…
Waterborne Signs MoU with Hydrogen Europe
Hydrogen Europe and the Waterborne Technology Platform signed a Memorandum of Understanding (MoU) on 13 May 2019 to foster opportunities of hydrogen based fuels as part of zero-emission waterborne transport.The European research and innovation platform for waterborne industries said in a press release that this MoU will help both parties to identify opportunities for hydrogen-related technologies in order to reduce the significant emissions of waterborne transport.Furthermore, the MoU will help them both…
IEA to Push for Offshore Wind Energy
The International Energy Agency (IEA) held a high-level workshop on the outlook for offshore wind energy yesterday (May 13), bringing together 80 senior representatives from government, the private sector, research groups, academia and international organisations.Participants joined from countries around the world, including many from Europe, the United States, Japan and China, said a press release from the Paris-based autonomous intergovernmental organization which works to ensure reliable, affordable and clean energy.Altogether…
Vattenfall Starts Hollandse Kust Zuid
Development of the first unsubsidized offshore wind farm is well underway off the Dutch coast after bouts of bad weather delayed the project earlier this year, said Swedish power company Vattenfall.The European energy company is building the 750-megawatt Hollandse Kust Zuid 1 & 2 wind farm off the coast of The Hague and Noordwijk. Vattenfall said it expects the wind farm will begin generating electricity by the end of 2022, ultimately supplying power to up to 1.5 million households.Dozens of researchers…
Siemens Exits Power, Gas, Renewable Biz
German conglomerate Siemens AG said it will spin off and give up its majority stake in its energy division and merge it with separately listed wind turbine supplier Siemens Gamesa Renewable Energy (SGRE), creating a new multi-technology global energy powerhouse. The company’s supervisory board announced the spinoff on May 7 as part of its Vision 2020+ strategy concept. The board said the move would help Germany-based Siemens meet medium-term growth and profit targets by “clearly focusing its portfolio on dynamic growth markets and efficiency gains.”"Siemens’ Gas and Power (GP) – comprising the company’s oil and gas…
Natural Gas Liquid Market to Cross 14 mbl/day by 2025
Global Natural Gas Liquid Market is poised to cross 14 million barrels per day by 2025, said a study.Japan natural gas liquid market is projected to surpass an annual consumption of 0.2 mbl/day said the latest study by Global Market Insights.Accelerating funding’s toward chemical industry along with the manufacturing of high value-added petrochemicals will augment the industry growth.In addition, up-surge in investments toward automotive sector coupled with expansion of various industrial base including manufacturing, refineries and chemicals will positively impact the product penetration.The U.S.
Russian Pipeline: Bringing Gas and Building Trust
A discussion over energy at the summit last week between Russian President Vladimir Putin and North Korean leader Kim Jong-un has excited the government in South Korea, where the government is desperately looking to entice the North Koreans to come in out of the cold.Among the topics that came up was access for the North Koreans to Russian electricity supplies and the question of North Korea allowing the Russians to build a pipeline that would ship natural gas from Vladivostok, where the summit was held…
Europe Leads in Ocean Energy
European tidal stream installations reached 26.8MW, and wave energy installations 11.3MW in 2018, according to yearly statistics published by Ocean Energy Europe.Europe continues to lead the world in ocean energy deployments, and last year its tidal projects produced record volumes of electricity.Annual installations - 3.7 MW of tidal stream capacity was put in the water in 2018. This represents more than twice the capacity installed in 2017, making this a solid year for tidal activity.26.8 MW of tidal stream technology has been deployed in Europe since 2010.
Eni, CDP, Fincantieri, Terna in Wave Power Pact
Italian oil group Eni is joining forces with compatriot shipbuilder Fincantieri, power grid group Terna and state lender Cassa Depositi e Prestiti (CDP) to develop wave power stations.The Chief Executive Officers of the companies have signed a non-binding agreement today at the Eni headquarters in the EUR district of Rome to develop and build wave power stations on an industrial scale.The agreement seeks to combine the knowledge of the collective companies to transform the Inertial Sea Wave Energy Converter (ISWEC) pilot project into a project on an industrial scale for immediate application and use.
Aus Upstream Capex Touches at US$10bln pa
The Australian renewable energy pipeline is surging above 100GW of solar, wind and utility storage projects. Investment is currently matching upstream capex, at US$10 bn per annum.Only 1GW is currently owned by Upstream companies – the majors, said Rystad Energy, the energy research and business intelligence company.By the end of the decade, upstream companies will be the dominant renewable developers in country and regionally. The driver will be economics as much as an increasing desire to ride the solar-coaster.Woodside and Santos are absent from the chart (for now) but both are making strides in the sector.
AMS Wins Hornsea Two Gig
AMS Trenchless Specialists, North Lincolnshire-based engineering company, has won a huge contract for part of the onshore cable works for Hornsea Two, an offshore wind farm being constructed 89km off the Yorkshire Coast.AMS Trenchless Specialists, based in Scunthorpe, will undertake Horizontal Directional Drilling (HDD), a method of installing ducting and cables beneath existing infrastructure without disruption, at the landfall site in Horseshoe Point where the offshore cables meet the onshore cables.This contract builds on the existing relationship between the East-coast firm and Ørsted…
Prospective Bidders for Eneco Narrows
The field of prospective bidders for Dutch energy company Eneco has narrowed as initial interest from big electricity players including France's Engie and Austria's Verbund has fizzled out, sources close to the matter said.The 53 municipalities that currently own Eneco, estimated by analysts to be worth about 3 billion euros ($3.35 billion), said in December they would sell the company through an auction later this year.The process is now expected to kick off in May, when confidential information packages will be circulated to interested parties to undertake due diligence checks on the business…
Eni Pilots Wave Energy Converter
Italian multinational oil and gas company Eni has activated the Inertial Sea Wave Energy Converter (ISWEC), offshore Ravenna, capable of converting energy generated by waves into electricity, which will in the future enable Eni to convert mature offshore platforms into renewable energy generation hubs.The pilot plant was installed at the Ravenna offshore site by Eni’s Central Northern District and has been integrated into a hybrid smart grid system featuring photovoltaics and energy storage.It reached a peak power output of over 51 kW, or 103% of its nominal power.
Energy Demand Rose at a Record Rate
Global energy demand grew 2.3% last year, marking its fastest pace in a decade, amid a robust global economy and stronger heating and cooling needs in many regions, said the International Energy Agency (IEA).Natural gas emerged as the fuel of choice, posting the biggest gains and accounting for 45% of the rise in energy consumption. Gas demand growth was especially strong in the United States and China.Demand for all fuels increased, with fossil fuels meeting nearly 70% of the growth for the second year running. Solar and wind generation grew at double-digit pace, with solar alone increasing by 31%.
Oil Rises 2 Percent
Oil rose nearly 2 percent on Tuesday as attention centered on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining U.S. inventories.Despite concerns about weaker demand due to an economic slowdown, oil prices have risen more than 25 percent this year, supported by supply curbs by the Organization of the Petroleum Exporting Countries plus allies, and losses due to U.S. sanctions on Iran and Venezuela.Venezuela's main oil export port of Jose and its four crude upgraders have been unable to resume operations following a massive power blackout on Monday…
MAN ES Invests in Hydrogen
MAN Energy Solutions is acquiring 40 percent of the shares of the electrolysis technology company H-TEC SYSTEMS. A contract confirming the partial acquisition was signed in Augsburg by Dr. Uwe Lauber, CEO of MAN Energy Solutions, and Ove Petersen and Heinrich Gärtner, executive managers of the GP JOULE Group. The contract also makes provisions for a majority or complete takeover of H-TEC SYSTEMS at a later date. The company will continue to be independently represented on the market with no change in the level of commitment to its customers.
Shell Bids to Build Dutch Offshore Wind Farms
Royal Dutch Shell has teamed up with energy company Eneco and builder Van Oord in a bid to build two wind farms in the Dutch part of the North Sea, the companies said on Wednesday.The tender for the wind farms, with total capacity of 750 megawatts (MW), is open until March 14 for bids that require no subsidies on electricity prices.The Dutch were among the first to offer a 'zero subsidy' tender for wind power in 2017, with Sweden's Vattenfall winning the right to build a 700 MW wind farm without price support.Vattenfall has said it would also bid in the latest tender, which is the fourth of five being held by the Dutch governme
Partners Group invests in Greenlink
Private markets investor Partners Group has provided equity financing for the 500-MW Greenlink interconnector, the subsea connection between Wales and Ireland in exchange for a stake in the scheme.To-date, Greenlink has been developed by Element Power, an independent renewable energy developer, which, together with funds managed by Hudson Sustainable Investments, is the other major shareholder in Greenlink.Greenlink will use a subsea high-voltage direct current (HVDC) cable system to connect the power markets of Ireland and Great Britain…
VA Offshore Wind: A Strong Foundation
Virginia officials have established a well-planned, extensive strategy to build out an offshore wind industry, including wind towers for electricity generation and the supply chain to support that extensive infrastructure and operations. The State’s big picture is ambitious: developing 2,000 MW of offshore wind by 2028.As currently envisioned, VA’s offshore wind development will likely start this year with two 8-megawatt wind turbines 27 miles off the coast of Virginia Beach. This is a Dominion Energy pilot undertaken in partnership with the Danish wind company Orsted.
Ven's Blackout Halts Oil Exports From Primary Port
Venezuela's state-run oil firm PDVSA has been unable to resume crude exports from its primary port since last week's massive power outage, essentially crippling the OPEC nation's principal industry, people familiar with the matter said on Monday.Power remained patchy in most of the country after a blackout on Thursday that the government of President Nicolas Maduro claimed was a U.S.-backed act of "sabotage" on the country's principal hydroelectric dam.His critics insist it is the result of more than a decade…