Italy’s cabling giant Prysmian has secured a €120 million loan from Italian investment bank Cassa Depositi e Prestiti (CDP) which will be invested in R&D for network upgrading purposes. The loan will be used to support R&D plans focused on the implementation of innovative technologies and contribute
The Norwegian Ministry of Petroleum and Energy has received applications from five companies seeking permits related to the injection and storage of CO2 on the Norwegian continental shelf (NCS). The area is located in the North Sea and was announced on 11 January in accordance with the storage regul
An ambitious collaborative project to power subsea equipment with wave power and subsea energy storage, led jointly by Mocean Energy and Verlume with other consortium partners, has taken to the seas in the north of Scotland.
UK energy market regulator Ofgem has provisionally approved SSEN Transmission’s plans to develop a subsea electricity transmission link to Orkney. SSEN Transmission submitted investment plans to Ofgem in March 2018 to build a new subsea transmission link to provide the additional capacity needed to
Oil and gas company Neptune Energy has committed to the Extractive Industries Transparency Initiative (EITI) which aims to improve accountability for the revenues paid and received for a country’s oil, gas and mineral resources. Neptune Energy said that becoming a formal supporting company builds on
Technology group ABB and Pace CCS, a UK provider of engineering design to the CCS and blue hydrogen industries, have signed a partnership agreement to deliver a solution that reduces the cost of integrating carbon capture and storage (CCS) into new and existing industrial operations. The two compani
India is ramping up efforts aimed at modernizing its fleet and is reviewing the requirements of the registration and operation of ships to ensure the quality of the Indian flag. As a result, the country is withdrawing trading licenses to all tankers that are 25 years old or above, the country’s Dire
A consortium of Dutch companies has launched a government-backed project to explore the synergies between offshore wind, offshore solar and hydrogen production at sea for improved sustainability of North Sea renewable energy projects.
Essar Group, invested in energy, metals and mining, infrastructure, and technology sectors, has announced the formation of Essar Energy Transition (EET) to drive energy transition in the UK and India. According to Essar, EET plans to invest a total of $3.6 billion in developing a range of low-carbon
Neptune Energy, Sval Energi and Storegga have submitted an application for a CO2 storage project in the Norwegian North Sea which has the potential to store up to 225 million tonnes of CO2. The application was submitted to the Norwegian Ministry of Petroleum and Energy following the announcement of
In response to the expected strengthening of decarbonization goals for the shipping industry, South Korea has released a strategy aiming to decarbonize its shipping industry by 2050. The strategy is being released ahead of the anticipated 80th meeting of the Marine Environment Protection Committee (
Spanish energy company Enagás has announced that all its objectives set for 2022 have been achieved and the degree of execution of its 2022-2030 strategic plan is higher than expected. Enagás’ net profit on 31 December 2022 amounted to €375.8 million, exceeding the target for the year. The significa
Oceanbird, a JV backed by Alfa Laval and Wallenius, and KTH Royal Institute of Technology are performing extensive tests on the Oceanbird wing model in the KTH L2000 wind tunnel. The team is testing the aerodynamics of the wings while exposing them to different wind conditions. This series of tests
French energy group ENGIE is moving to the second stage of its strategic plan, stepping up growth in the energy transition with an emphasis on renewables. The group said its 2021-23 strategic plan has been successfully executed and the time has come to move on to the second stage. ENGIE said its geo
