Acciona Gets DNV GL Certification
Acciona Energia, the biggest global operator exclusively in renewable energies, received the first ever prototype certificate for a grid-scale energy storage solution by DNV GL, the world’s largest resource of independent energy experts and certification body. The handover of the certificate took place at the American Wind Energy Association’s 2018 Windpower Conference in Chicago. To explore the possibilities of grid-scale storage…
ADNOC LNG Wins Extension of Gas Supply Contract to 2040
The Abu Dhabi National Oil Company (ADNOC), has agreed, in principle, to extend to 2040 its gas supply agreement with ADNOC LNG, in coordination with ADNOC LNG’s joint venture partners, Mitsui, BP and Total.The the state-owned oil company of the United Arab Emirates said that the new gas supply agreement is scheduled to take effect from April 1, 2019, replacing an existing agreement, due to expire on March 31, 2019.The extension…
MENA Region to Lead Global Oil and Gas for Decades to Come: DNV GL
The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050.The report says, the Middle East and North Africa (MENA) region will remain the main global supplier of oil and gas for decades to come."Among its forecasts for 10 global regions…
Offshore Wind Market in Aberdeen
The sight of offshore wind turbines off the coast of Aberdeen symbolises a change in direction for the city, its energy mix and its offshore industry, says a press release by UK Chamber of Shipping. Looking out to sea from Aberdeen, a gaggle of offshore wind turbines floats among the usual scattering of offshore support vessels waiting at anchor. Beside them waits an enormous wind turbine installation vessel (WTIV), recognisable by its four upright jack-up legs, which are raised above the water while the ship is not in service.
Pope Warns Energy Bosses of Global Destruction without Fuel Shift
Pope Francis warned that climate change risked destroying humanity on Saturday and called on energy leaders to help the world to convert to clean fuels to avert catastrophe."Civilisation requires energy but energy use must not destroy civilisation," the pope told top oil company executives at the end of a two-day conference in the Vatican.Climate change was a challenge of "epochal proportions", he said, adding that the world needed an energy mix that combated pollution…
LNG to Benefit Philippines, Says ADB Energy Expert
The Philippines stands to benefit from introducing liquefied natural gas (LNG) to support power generation and making it part of its energy mix, the government's Philippine News Agency reported quoting an energy sector expert for the Asian Development Bank (ADB). “Right now and the foreseeable future, natural gas and LNG is much cheaper today compared to two to three years ago, so there is a chance for the Philippines and for the countries in Asia to benefit from LNG and this is window of opportunity I think…
Serbia's First Large-scale Wind Farm to Start in October
Belgian renewable energy firm Elicio NV said on Friday its 42 megawatt (MW) Alibunar wind farm in northern Serbia will start operating in October and help the Balkan country diversify its energy mix and reduce greenhouse gas emissions.The wind farm, which has 21 wind turbines provided by German wind turbine manufacturer Senvion, is the first large-scale farm to connect on Serbia's grid.
Global Energy Demand Seen growing 33% to 2040 -OPEC
Global energy demand is expected to grow by 33 percent to 2040, the Secretary General of the Organization of the Petroleum Exporting Countries, Mohammad Barkindo, said during an event in Madrid on Tuesday.Barkindo was speaking at an event organised by the Spanish oil and gas company Cepsa.Oil would continue to have a predominant role in the energy mix for the foreseeable future, Barkindo said during a question and answer session. (Reporting by Robert Hetz; Writing by Paul Day, editing by Louise Heavens)
Gas to Overtake Oil as Primary Energy Source by Mid-2030s
Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s. Confidence in the case for gas is growing, according to a survey by DNV GL, the technical advisor to the industry. The vast majority (86%) of the 813 senior industry professionals surveyed agree that gas - the…
REDEN Solar Enters the Portuguese Solar Market
REDEN Solar, a solar IPP from France, has acquired several existing photovoltaic power plants in Portugal, representing a total capacity of 50 MW. The French Solar project developer also announced plans to develop new projects in the country in the coming years.The company, which already has a strong presence in France and Latin America, said it has chosen to continue its European development in Portugal, due to favorable economic prospects and the country's strong commitment to renewable energies.
Gas to Become World's Primary Energy Source by 2035
Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today.Gas will become the largest single source of energy from 2034.DNV GL’s Energy Transition Outlook (ETO), a forecast that spans the global energy mix to 2050…
Total, India's Adani Join Hands in LNG Sector
French energy major Total and Adani Group have signed an agreement to jointly develop multi energy offers to the Indian energy market. This cooperation includes Liquefied Natural Gas (LNG) and Fuel Retail.The Adani Group is an Indian private conglomerate active in 50 countries and specialized in commodities trading, port infrastructures and logistics, as well as energy production and distribution.This strategic partnership between…
Oil and Gas Demand to Peak in 2023 and 2034: DNV GL
The oil and gas demand will peak in 2023 and 2034, respectively, according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050However, new oil fields will be needed until at least the 2040s, while new gas developments will be required beyond 2050. DNV GL’s Outlook predicts that operators will favour production from a greater number of smaller reservoirs with shorter lifespans…
Natural Gas is Here to Stay, Big Oil Says
Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy.Top oil companies including Royal Dutch Shell, BP and Total are adapting with growing urgency to the need to develop cleaner energy sources, investing more and more in solar and wind power, electric vehicle technology and even forestation.Still…
Poland Sees First Nuclear Power After 2030
Poland expects its first nuclear power plant to start operating after 2030 as the country aims to cut its use of coal in producing electricity, Deputy Environment Minister Michal Kurtyka said.The east European country, which hosts global climate talks in December, generates around 80 percent of its electricity from coal in outdated power plants, many of which will have to close in the coming decade.Poland has considered building a nuclear power plant for years…
Bosnia Adopts Long-Term Energy Strategy Key to Unlocking EU Funds
Bosnia's central government adopted a long-term energy strategy on Wednesday after years of political wrangling between its two regions, paving the way for major funding from the European Union and other investors."With this act, we completed the adoption of a package of four most important strategies for economic reforms," said Bosnia's Prime Minister Denis Zvizdic."We stopped a negative trend that meant we could not apply for energy projects and lost hundreds of millions of euros of investments and grants…
In British Virgin Islands, Hurricane Whips up Green Energy Transition
Nearly a year after Hurricane Irma knocked out power across the British Virgin Islands, electricity boss Leroy Abraham will be among the last residents to have their homes reconnected.But Abraham, general manager of the British overseas territory's electricity corporation (BVIEC), has barely had time to notice his own domestic outage."I was far too exhausted from giving everybody else electricity," said the 48-year-old, gazing at his two-storey house…
India's GAIL Turns to Spot and Short-term LNG Deals
Indian gas utility GAIL (India) has switched its focus to short-term and spot deals for the purchase of liquefied natural gas (LNG) to meet rising demand and hedge against price volatility, its chairman said.The move from longer-term deals comes as India builds infrastructure, including pipelines and import facilities, to raise the share of gas in its energy mix to 15 percent by 2030 from the current level of about 6.5 percent."Today the market is moving from long-term (deals) to short term and spot.
Statoil's 2017 Renewables Spending in Line with Plans
Norway's Statoil said on Friday its 2017 capital spending on new energy solutions, which include renewables, was between $500 million and $750 million, in line with its plans. Statoil began preparations for the construction of an offshore wind park off New York, but it will not start until 2023 at the earliest. At the end of 2017, Statoil had a net 290 megawatts (MW) of offshore wind capacity, and around 190 MW under development.
LR to Class India’s First FSRU
Lloyd’s Register (LR) said it signed a contract to class the first ever floating storage regasification unit (FSRU) to be ordered for Indian waters.Due for delivery in December 2019, the new 180,000m³ FSRU will be built to LR’s Rules for the Classification of Offshore Units by South Korean shipbuilder Hyundai Heavy Industries (HHI) for SWAN LNG Pvt. Ltd. (SLPL). It will be stationed at Jafrabad port for 24h-hours-a-day operations…
