Wednesday, April 24, 2019

France News

Macquarie Kicks off Sale of Wind Assets in Italy and France

Photo: Renvico

Infrastructure fund Macquarie has kicked off the sale of its Renvico wind farm portfolio located in Italy and France worth around 400 million euros ($450 million), four sources familiar with the matter said.The Australian fund, advised by Rothschild, has sent out teasers and information memoranda will follow at the end of the month, two of the sources said.Non-binding bids are expected by the end of May…

China, France to Develop OWP Project

Image: EDF Energy

China Energy Investment Corporation (CHN Energy) and Électricité de France Group (EDF Group) have signed a deal to jointly develop an offshore wind power project in China’s eastern Jiangsu province, Chinese official media reported.As per the agreement, CHN Energy and EDF Group will build the offshore wind power project with a capacity of 500,000 kilowatts in the city of Dongtai, said sources with Guohua Energy Investment Jiangsu company…

Study Shows LNG Forming Pathway to IMO 2050

Pic: SEA\LNG

Greenhouse Gas (GHG) reductions of up to 21% are achievable now from LNG as a marine fuel, compared with current oil-based marine fuels over the entire life-cycle from Well-to-Wake (WtW).An independent study report confirms that emissions of other local pollutants, such as sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matter (PM), are close to zero when using LNG compared with current conventional oil-based marine fuels.The study…

Europe Offshore Fleet has 105 Wind Farms

Giles Dickson. Photo: WindEurope

There are now 189 GW of wind energy in Europe, making up 14% of the EU’s power demand. 18.5 GW of this is in Europe’s offshore fleet, whose 105 wind farms and 4,500 turbines now provide 40,000 jobs.According to WindEurope CEO Giles Dickson, this is set to grow.Offshore wind has a proven record of rejuvenating former industrial towns in Europe. Dickson gave the UK example of the Green Port in Hull…

$13 Bln Papua LNG Project Pushes Ahead

France's Total and its partners signed a long-awaited deal with Papua New Guinea on Tuesday that will allow initial work to start on a $13 billion plan to double the country's liquefied natural gas exports.Developing the Pacific island nation's gas reserves is seen as crucial to its economy as LNG is its biggest export earner, while demand for the fuel is surging globally.Total's partner Oil Search…

Guanghui Signs 10-year LNG SPA with Total

Pic: Total EP

France’s Total and  Guanghui Energy, a China-based company, principally engaged in the natural gas and coal business, have signed a long-term sale and purchase agreement (SPA) for the supply of 0.7 million tonnes per year of liquefied natural gas (LNG) for a period of 10 years.According to Total, the gas will be delivered to Guanghui’s regasification terminal in Qidong, Jiangsu Province, from Total’s global LNG portfolio.“We are delighted to start a long-term relationship with Guanghui…

Petrobras to Sell Pipeline Unit for $9 Bln

© freedom_naruk / Adobe Stock

Brazilian state-run oil company Petroleo Brasileiro SA has agreed to sell its TAG natural gas pipeline unit to a consortium led by France's Engie SA for roughly $9 billion, Bloomberg News reported on Friday, citing a source.The Engie consortium, which also includes Canada's Caisse de Dépôt e Placement du Québec, beat out two competing consortia, led by Itausa Investimentos Itau SA and EIG Global Energy Partners with Mubadala Investment Co…

Lebanon Announces Offshore Blocks

© bilalulker / Adobe Stock

Lebanon announced on Friday five offshore blocks to be included in its coming bidding round for energy exploration and production licences, including four along disputed maritime borders.Offshore energy development has been a central ambition for successive governments in cash-strapped Lebanon, but political paralysis has caused years of delays.Blocks 8 and 10 both include waters also claimed by Israel, while blocks 1 and 2 include waters claimed by Syria.

Prospective Bidders for Eneco Narrows

Photo courtesy of Eneco

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…

Nord Stream 2 Expecting Denmark Approval

© Nord Stream 2 / Axel Schmidt

The Russian-led Nord Stream 2 gas pipeline company expects to receive approval from Danish authorities for a 180-km stretch of the pipeline under the Baltic Sea in time to finish the pipeline by the end of 2019 as planned, a spokesman said on Monday.Nord Stream 2 spokesman Jens Mueller said there was "good reason" to believe Danish authorities would process a second proposal submitted by the project in August 2018 within eight to 12 months…

Uganda, Saipem Take Next Steps for Refinery

© tum2282 / Adobe Stock

Uganda approved Italian oil services firm Saipem's plan for early engineering work on what is due to become a 60,000 barrel per day refinery in the East African country, a nascent oil producer, Saipem said on Tuesday.In April last year, Uganda signed a deal with a consortium, including a subsidiary of General Electric, to build and operate a 60,000 barrel per day refinery that will cost $3 billion-$4 billion and is due to come online by 2023.The other members in the consortium, which expect

Magnesium Producers Duo Partner on Scrubbers

Image: Nedmag

Magnesium Producers Nedmag of the Netherlands and TIMAB Magnesium of France have announced a strategic partnership to development and commercialise Magnesium Hydroxide in marine gas scrubber systems.Since January 2015, regulations over Sulphur Oxides (SOx) emission from the marine industry have been significantly tightened, in Sulphur Emission Control Area especially. A new set of regulations will come into force on January 1st 2020…

Dutch Prosecutors Target Shell Over Nigeria Oil Deal

(Photo: Shell)

Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over the $1.3 billion acquisition of an Nigerian offshore oilfield, ramping up pressure on the energy firm that already faces bribery charges in Italy over the case.Within hours of Friday's announcement on the Nigerian case, the Dutch prosecution said the oil and gas giant would also be charged in two domestic cases relating to an explosion at a petrochemical facility and emissions.Although the cases are unrelated…

France to Test Floating Wind Turbines

© Fokke / Adobe Stock

The European Commission said on Monday it had authorized French subsidies to four offshore wind farm projects which are aimed at testing a new way of producing electricity from wind.The EU competition regulator said in a statement that the state aid was in line with EU rules as it was proportionate and could help develop a new type of technology to produce renewable energy.Three of the floating wind farms are in the Mediterranean Sea and one in the Atlantic Ocean.The demonstration wind farm

Wind Provides 14% of European Electricity

Image: WindEurope

Wind energy provided 14% of the European Union’s electricity last year, according to figures published by the region’s wind energy trade body, WindEurope, with 11.7 gigawatts (GW) of new capacity added, including 2.65 GW of offshore wind. Continued growth in capacity and the use of more powerful turbines are helping to drive up wind’s share in the electricity mix. Denmark had the highest share of wind in its electricity last year (41%) followed by Ireland (28%) and Portugal (24%).

Verus Petroleum Up For Sale

© TasfotoNL / Adobe Stock

Private equity firm HitecVision is seeking to sell its British North Sea oil and gas production unit Verus Petroleum, which last year completed a string of large acquisitions ramping up its output, industry and banking sources said.The sale process is being run by investment bank Jefferies and could fetch $500 million, according to the sources.HitecVision and Verus Petroleum did not respond to requests for comment.

Elengy's Fos Tonkin LNG Capacity for Sale

Aerial photography of Fos Tonkin terminal. Photo: Elengy

French liquified natural gas (LNG) terminal operator Elengy, a unit of the energy giant Engie, is preparing the sale of access capacities to the Fos Tonkin LNG terminal for the period 2021-2030.Within the sale process, Elengy will offer its potential customers several types of services, including the conventional unloading of Medmax-type LNG tankers (vessel with a capacity of 75,000m3 of LNG), the reloading of micro-tankers for LNG bunkering needs…

Offshore Wind Players Bid to Supply NY

© Dawid S Swierczek / Adobe Stock

Several offshore wind players have submitted separate bids to supply New York with power from planned projects off the coast of Long Island.The proposals from Norway's Equinor and three joint ventures come in response to New York’s 800 MW procurement, its first formal solicitation targeted the developing U.S. offshore wind industry. The state is expected to choose a supplier this spring.Four proposers submitted a total of 18 bids…

Uganda Expects Delayed First Oil Production

© brumbyderek / Adobe Stock

Uganda expects to begin producing oil in 2022, its energy minister Irene Muloni said on Wednesday, indicating a slight delay from the east African country's revised target of 2021.Uganda discovered crude reserves more than 10 years ago but production has been repeatedly delayed by disagreements with field operators over taxes and development strategy.A lack of infrastructure such as a transportation…

Europe Offshore Wind Capacity Up 18% in 2018

Image: © MHI VESTAS, WindEurope

Europe installed a total of 2.6 gigawatts (GW) of new offshore wind capacity in 2018, an 18% increase which takes the region to a total capacity of 18.5 GW.According to new figures published this week by the region’s wind energy trade body, WindEurope, 15 new offshore wind farms came on line. The UK and Germany accounted for 85% of the new capacity: 1.3 GW and 969 MW respectively.Europe now has 105 offshore wind farms across 11 countries with a total capacity of 18.5 GW.