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Market Outlooks

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ADNOC buying stake in Austrian oil and gas firm
Market Outlooks

ADNOC to strengthen clean fuels value chain between UAE and Japan

Abu Dhabi National Oil Company (ADNOC) has signed two agreements with Japanese partners to boost the clean fuels value chain between the UAE and Japan. ADNOC said the first agreement, with the Kawasaki company, aims to explore the production, liquefaction, and transportation of hydrogen to key globa

about 3 years ago
Illustration; Source: North Sea Transition Authority (NSTA)
Market Outlooks

With oil & gas seen as ‘wreaking havoc’ in UK waters, zest to end offshore drilling ignites

Recent report about the impact of oil spills on UK waters is bound to spur further calls to end offshore drilling while targeting the Rosebank project.

14 minutes read
Idemitsu looks into clean hydrogen production generated from waste
Market Outlooks

Idemitsu looks into clean hydrogen production generated from waste

Energy company Idemitsu Kosan has launched a feasibility study of clean hydrogen production in Japan generated from waste, including municipal waste. The study is conducted in collaboration with US-based H-Cycle (HC), a developer of a thermal conversion process that uses heat and electricity to tran

about 3 years ago
Global wave and tidal energy market poised to reach $10 bln by 2031, report shows
Market Outlooks

Global wave and tidal energy market poised to reach $10 bln by 2031, report shows

Global wave and tidal energy market was valued at $477.81 million in 2022 and is projected to generate a revenue of around $10 billion by 2031 at a compound annual growth rate (CAGR) of 43% during the forecast period, analytics and advisory company Astute Analytica found in its latest report. The re

about 3 years ago
Illustration; Source: The Danish Energy Agency
Market Outlooks

Oil and renewables steal the spotlight, as natural gas consumption takes a downturn in 2022

The Danish Energy Agency has published the preliminary energy statistics for 2022, outlining that natural gas consumption declined last year.

about 3 years ago
Asahi Kasei forms investment framework focused on carbon neutrality
Market Outlooks

Asahi Kasei forms investment framework focused on carbon neutrality

Japanese chemical company Asahi Kasei, a part of the Asahi Kasei Group, has established a ‘Care for Earth’ investment framework as a new initiative for carbon neutrality by investing $100 million worldwide in early-stage startups that aim to solve issues in environmental fields such as hydrogen, ene

about 3 years ago
China’s first semi-submersible offshore solar platform (Courtesy of CIMC)
Market Outlooks

China launches its first semi-submersible offshore solar platform

Yantai CIMC Raffles Offshore (CIMC Raffles) has launched China’s first semi-submersible offshore floating solar power generation platform.

about 3 years ago
Illustration; Source: U.S. Energy Information Administration (EIA)
Market Outlooks

As OPEC+ production cuts take hold, Brent crude oil spot price forecast jumps to $85 per barrel

The U.S. Energy Information Administration (EIA) has slightly revised its forecasts, reducing OPEC production for the rest of 2023.

about 3 years ago
With approval in place, Energinet to start €65.2M subsea cable replacement project
Market Outlooks

Energinet gets green light for €65.2M subsea cable replacement project

The Danish Ministry of Climate, Energy and Supply has approved Energinet’s application for the replacement of a submarine cable that passes across Øresund connecting Denmark and Sweden. With the approval in place, Energinet can now begin the project to replace System 2 on the 400 kV cable connection

about 3 years ago
Illustration/Nova Innovation's tidal turbine (Courtesy of Nova Innovation)
Market Outlooks

Nova Innovation enters floating solar market, with first installation set for Scotland

Scottish company Nova Innovation has expanded its tidal energy product portfolio with the addition of floating solar technology, announcing also plans for the installation of Scotland’s first array of floating solar panels later in 2023.

about 3 years ago
Biofuels
Market Outlooks

WFW: Biofuels trump LNG as most popular alternative for the next 5 years

In 2021, LNG was the most popular alternative fuel considered by shipowners for use in the (then) next five years; twice as many as those who said they were considering biofuels. That position has now virtually reversed, with biofuels at the same level of response as LNG in 2021 while LNG has fallen

about 3 years ago
Port of Los Angeles, California
Market Outlooks

Survey: 56 pct of shipowners are in ESG-linked tie-ups

The maritime industry has a better idea of the trade-offs necessary to achieve net zero, although most of the practical work still lies ahead, and regulatory and technology uncertainties remain, a recent survey conducted by the London-based law firm Watson Farley & Williams (WFW) shows. ‘The Sustain

about 3 years ago
Vopak strengthens ties with Gasunie, moves forward with LNG projects
Market Outlooks

Vopak strengthens ties with Gasunie, moves forward with LNG projects

Dutch tank storage company Vopak has provided updates on its LNG projects, including EemsEnergyTerminal, Gate terminal Rotterdam, and Hong Kong LNG terminal project. EemsEnergyTerminal Vopak’s first update is in regard to EemsEnergyTerminal, an LNG import terminal located in the Eemshaven in the Net

about 3 years ago
Illustration/FLASC’ floating storage prototype tested in Malta in 2018 (Courtesy of FLASC BV)
Market Outlooks

Research into floating breakwaters as powerbanks for marine renewables starts in Malta

The University of Malta has teamed up with its offshore energy storage spin-off FLASC to assess the potential of integrating renewable energy and energy storage solutions with floating breakwaters.

about 3 years ago
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