German Offshore Wind Capacity Reaches 7.5GW
A total of 1,469 offshore wind turbines with a capacity of 7,516MW feed electricity into the German offshore wind industry grid as of now. 160 turbines with a capacity of 1,111MW were connected to the grid in 2019.According to a joint press release from country's wind energy associations said: “Offshore wind energy has developed from Germany into an international success story. Electricity from offshore wind energy is cost-effective, reliable…
Mexico and Pemex Face Downgrade Risk
Mexico threw troubled state oil company Pemex a lifeline in 2019 to stop $80 billion in bonds held by investors worldwide being labeled junk by credit rating agencies. Now, investors worry that the state itself is a risk for Pemex.Mexico's creditworthiness came under increasing scrutiny in 2019, with two rating agencies flipping their sovereign outlook for the country to negative and one downgrading its rating.Economic growth has ground to a halt during Mexico's first year under leftist President Andres Manuel Lopez Obrador…
NLNG Okays Train 7
The Nigerian National Petroleum Corporation (NNPC), Shell, Total, and ENI on Friday signed the final investment decision (FID) to give the go-ahead for the construction of Train 7 of the Nigeria Liquefied Natural Gas (NLNG) project.The new train is expected to boost output by 35% to 30 million tonnes per year, NLNG said in a statement, and will arrest a decline in Nigeria’s LNG output. NLNG operates six LNG processing units, known as trains, on Bonny Island.
Malaysian State Open to Buying Petronas Stake
Malaysia's Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government.Petronas, the world's third-largest exporter of liquefied natural gas, is one of the biggest sources of revenue for the federal government that has a debt pile of more than 1 trillion ringgit ($239 billion).Mahathir…
NJ Governor Doubles Offshore Wind Goal
As New Jersey steps up efforts to eliminate fossil fuels over the next three decades, the state is more than doubling its target for offshore-wind energy production under an executive order signed by Gov. Phil Murphy.The order would increase the goal to 7,500 megawatts by 2035, from 3,500 set for 2030.Murphy made the announcement with former Vice President Al Gore, a clean energy advocate, at a news conference in Jersey City at Liberty Science Center.The Executive Order will deliver the clean…
Germany Mulls Onshore Power in Seaports
German federal government took a step to make onshore power in seaports more attractive; this week the environment ministers of the federal and state governments will be meeting in Hamburg to discuss onshore power initiatives in Germany.Against this backdrop, the German Shipowners’ Association (Verband Deutscher Reeder, VDR) welcomes plans to provide ships with onshore power while on berth in German ports.“We are united in our goal to further improve the climate and the air quality in the ports…
Transborders Signs up MOL on FLNG Solution
Perth-based company Transborders Energy has entered a Joint Study Agreement (JSA) to work with Japan's Mitsui OSK Lines (MOL) to together continue the development of its Floating LNG (FLNG) Solution and to pursue its deployment on a range of stranded offshore gas resource opportunities.Transborders’ FLNG Solution provides a pre-determined 1.3 MTPA FLNG development concept with a package of streamlined commercial & regulatory approval framework (including LNG buyers) to gas resource owners.
Transborders Joins Forces with Osaka Gas
Perth-based Transborders Energy has signed a memorandum of understanding (MoU) for collaboration with Japan's Osaka Gas.The MOU will facilitate information and knowledge sharing for both companies to evaluate projects that could commercialize stranded offshore gas resources based on Transborders’ FLNG Solution.Transborders’ FLNG Solution provides a pre-engineered one point three (1.3) million tonne per annum floating LNG facility with a package…
Offshore Wind Conference Set for SUNY Maritime
The Center of Excellence for Offshore Renewable Energy at the State University of New York Maritime College and the Maritime Industry Museum at Fort Schuyler, are hosting the Ocean Wind Energy Conference on Thursday, September 26, 2019 at the Maritime Academic Center, SUNY Maritime College.Serving as the keynote speaker is Alana Duerr, Ph.D., Director, Offshore Wind North America, DNV GL - Renewables Advisory, who will offer insight to opportunities…
Mexico, Pemex to Hedge Oil Output
The Mexican government has said in its 2020 budget proposal that it will maintain a strategy of hedging its oil output against lower prices.Mexico’s state oil company Pemex will also continue a similar but separate hedging program. Mexico’s roughly $1 billion annual oil hedge is considered the world’s largest oil trade and the government has made the first moves to launch its program by asking banks for quotes.The budget document said the government had “fiscal shock absorbers” to protect against volatility that could affect public finances.
SUNY Maritime College Hosts Ocean Wind Energy Conference
NYC Economic Development Corp. Signs on as Event Sponsor.The Center of Excellence for Offshore Renewable Energy at the State University of New York Maritime College and the Maritime Industry Museum at Fort Schuyler, proudly announce their partnership in hosting of the Ocean Wind Energy Conference on Thursday, September 26, 2019 at 9 a.m. in the Maritime Academic Center, SUNY Maritime College. Featured presentations by industry leaders such as Keynote Speaker Dr.
Port of Johnstown to Receive 12 Shiploads of Wind Turbines
The Port of Johnstown will be a busy port over the next several months as vessels are delivering ENERCON turbine components for the Nation Rise Wind Farm project.The cargo represents a major business win for the Port, which completed a multi-million-dollar infrastructure project in 2016 that included several acres of laydown space to be able to accommodate this type of heavy-lift cargo.The first vessel, the BBC Kurt Paul, arrived August 13, 2019.
Mexico Unveils Pemex Business Plan
Mexico on Tuesday unveiled parts of a keenly awaited business plan meant to bring the world's most indebted oil company back from the abyss, but its vow of $7.2 billion in government support failed to dispel worries of a ratings downgrade.Octavio Romero, CEO of Petroleos Mexicanos, or Pemex , presented the broad outlines of the 200-page plan at a news conference, saying a complete version would be published later on Tuesday.Romero said the plan…
Atlantic Offshore Wind: Favorable Winds for Maritime
Now that the United States finally can envision steady winds blowing from the Atlantic Seaboard due to a pipeline of offshore wind farms on the horizon, the maritime industry can finally step up and earn some of the benefits. This includes shipbuilding, port construction, and worker training. This article reviews the key developments and forecasts the growth in maritime jobs.The federal and state governments share responsibility for developing offshore wind farms and bringing the wind into the power grid and…
Engie Crosses 1.5 GW Renewable Capacity in India
French power group Engie’s total renewable capacity in India now exceeds 1.5 GW. The company recently bagged a 200 MW onshore wind project in the state of Gujarat from Solar Energy Corporation of India.ENGIE is all set to sign a 25-year power purchase agreement (PPA) with Federal Government entity, SECI.Earlier, Engie won a 280 MWp solar project from Gujarat Urja Vikas Nigam Limited. The project—part of the Raghanesda solar park—is currently under development.
OMSA Announces Formation of Wind Committee
Open to all OMSA Members, the Committee Seeks to Further the Domestic Offshore Wind Industry and the Jones Act.New Orleans, LA – Today, the Offshore Marine Service Association (OMSA) announced the formation of the OMSA Wind Committee and announced that membership on the Committee is now open to all OMSA members.OMSA President, Aaron Smith said, “Over the past 46 years, OMSA has done a tremendous job in promoting public policy that benefits the vessels, operators, and mariners engaged in the offshore oil and gas industry.
Mexico to Offer Pemex One Year Lifeline
Mexico will offer its ailing state oil company Pemex a lifeline for only one year by dipping into its budget stabilization fund, Finance Minister Carlos Urzua said on Friday, ruling out that the government will absorb the debt.With $106 billion in financial debt, Pemex is the world's most indebted oil company and is teetering on the brink of having its debt downgraded to junk. Investors have shown little enthusiasm about the possibility of a…
HazSub Spill Response Plans
On August 18, 1990, the Oil Pollution Act of 1990 (OPA 90) was enacted into law. Section 4202 of that Act amended the Federal Water Pollution Control Act (FWPCA or Clean Water Act) to require tank vessels and marine transportation-related facilities to prepare and submit to the US Coast Guard plans for responding, to the maximum extent practicable, to a worse case discharge, and to a substantial threat of such a discharge, of oil or a hazardous substance carried in bulk as cargo.
Bad Choices cost Pemex $1 bln
Mexico's state-oil company Pemex burned through $665 million at its fertilizer unit, ignored consultants and made high-risk investments with no discernible business strategy, according to a devastating government audit of its 2017 operations.The report, published late on Wednesday, offers insight into how Pemex ended up creaking under $106 billion of debt during the six-year term of former President Enrique Pena Nieto.Mexico's Federal Audit Office (ASF) used unusually frank language in its assessment of Pemex's use of public resources…
German LNG Terminal Signs New Pact
German LNG Terminal GmbH, the joint venture driving forward Germany’s first LNG terminal in Brunsbuettel, has reached another long-term commercial capacity agreement with an unnamed global LNG player.The gas infrastructure company consisting of N.V. Nederlandse Gasunie (Gasunie), Oiltanking GmbH and Vopak LNG Holding B.V said in a press release that the parties agreed on the commitment of a substantial part of the terminal capacity.Negotiations with other interested parties are ongoing.