As the closure of the Strait of Hormuz, through which 15% of global oil and 20% of global liquefied natural gas (LNG) supply flows, evokes fears of a major energy shock, analysts at Wood Mackenzie, an energy intelligence group, have warned that oil prices could surge past $100 a barrel (bbl), if flo
MET International, the trading and wholesale arm of Switzerland-headquartered energy company MET Group, and Shell Global LNG Limited have signed a non-binding memorandum of understanding (MoU) to expand their existing long-term cooperation in LNG and gas trading. The agreement provides a framework f
European shipping company RFOcean has signed a binding long-term off-take agreement with ETFuels to purchase e-methanol at a fixed price from 2030. According to ETFuels, the agreement positions RFOcean ahead of binding and punitive new EU maritime emissions rules, the FuelEU Maritime regulation, whi
Norway-headquartered Kongsberg Maritime has signed a memorandum of understanding (MoU) with Indonesia’s state-owned and largest shipyard, PT PAL Indonesia, to work on advancing energy efficiency and decarbonization across the country’s maritime sector. Kongsberg Maritime said that the agreement repr
A consortium of AF Offshore Decom, part of AF Gruppen, and Heerema Marine Contractors (HMC) has secured a contract for the engineering, preparation, removal and disposal (EPRD) of a North Sea platform on the UK Continental Shelf (UKCS). The platform’s topsides weigh approximately 27,500 tons and the
Cheniere Marketing International, a wholly owned subsidiary of the U.S. energy player Cheniere Energy, has declared the option to increase the number of newbuild liquefied natural gas (LNG) carriers it will charter from Norwegian shipowner Ocean Yield and Japan’s shipping giant Nippon Yusen Kabushik
The U.S. Energy Department has approved a 12% expansion in exports at Cheniere Energy’s Corpus Christi liquefied natural gas (LNG) terminal, located on the La Quinta Ship Channel in South Texas. The authorization, signed by U.S. Secretary of Energy Chris Wright, allows additional exports of up to 0.
French energy giant TotalEnergies has signed a letter of intent (LoI) with lead developer Glenfarne for the offtake of 2 million tons per year (mtpa) of liquefied natural gas (LNG) over 20 years from the Alaska LNG project, subject to the project’s final investment decision (FID). The Alaska LNG pro
Norway’s Reach Subsea has won a contract to perform an external inspection of a large part of the subsea pipeline portfolio of Norwegian state-owned gas grid operator Gassco, using its Reach Remote 1 uncrewed surface vessel (USV). Under the contract secured with Equinor on behalf of Gassco, Reach Su
Norwegian offshore vessel owner Eidesvik Offshore has tasked Halsnøy Dokk with the conversion of the platform supply vessel (PSV) Viking Energy to ammonia-powered operations. The conversion is planned to be completed in autumn, when the 95-meter-long vessel will continue operating for Equinor, with
Everllence, formerly MAN Energy Solutions, will deliver its electrically driven compressor technology to MODEC for a floating production, storage, and offloading (FPSO) vessel that will work at an oil project offshore Guyana operated by ExxonMobil. Everllence will deliver four barrel-type RB compres
UAE-based terminal operator AD Ports Group and Nimex Terminals, an affiliate of the global trading organization Nimex Petroleum Group, have broken ground on what is said to be the UAE’s first private-sector liquified petroleum gas (LPG) terminal hub, located at Khalifa Port. The LPG terminal hub, an
Norway’s Ocean Sun has secured NOK 8 million (around €710,000) in public funding for a project that aims to strengthen the long-term performance and reliability of its floating solar technology. The public funding was awarded for the Enhanced Environmental Resilience for OS FPV System (EROS) researc
Norwegian drillship owner Deep Value Driller has decided to sell its seventh-generation drillship Deep Value Driller to Eldorado Drilling after having received a higher bid, cancelling the recently announced sale agreement with Italy’s engineering, drilling, and construction services giant Saipem. I
