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Monday, May 20, 2019

Energy Demand News

LNG bunkering vessel supplying a containership. Pic: MOL

MOL Signs LNG Charter with Pavilion Gas

Mitsui O.S.K. Lines (MOL) has announced that it has signed a long-term charter contract to operate Asia's largest (12,000m3-class) LNG bunkering vessel in Singapore, the world's largest fuel supply port, with Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy.Demand for LNG as bunker fuel is expected to grow on a global scale as stricter SOx regulations take effect in January 2020. Singapore's Maritime and Port Authority (MPA) is focusing considerable effort on development…

Image: Sapura Energy

Sapura Energy Wins Contracts in Mexico, Malaysia

Malaysia-based integrated oil and gas services Sapura Energy Berhad has strengthened its presence in Mexico and Malaysia with new contract wins valued at approximately RM1.75 billion (USD 410 mln).The new contracts have lifted the company’s orderbook to RM18 billion and total contract wins to-date for this financial year to RM7 billion (USD 1.68 bln).Sapura Energy has built capabilities and expertise that are critical to support its clients in their quest to meet global energy demand and as a result…

VLCC Kazusa. Photo: MOL

MOL Allies with NCC

Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a capital and business alliance agreement with chemical tank specialist logistics provider Nippon Concept Corporation (NCC). "MOL and NCC concluded the agreement with the objective of developing a comprehensive two-way strategic partnership including both partners' group companies, and steadily enhancing their businesses," said a statement from the company. The agreement gives NCC the opportunity to globally increase…

Photo: Shell

Kuwait Signs LNG Import Deal With Shell

Kuwait Petroleum Corp. (KPC) has signed a 15-year liquefied natural gas import deal with Royal Dutch Shell Plc to help the oil exporting nation meet growing domestic energy demand. A report in Bloomberg said that the sales purchasing agreement with Shell International Trading Middle East Ltd. will start in 2020. The contract will cover 2 million to 3 million metric tons of LNG a year. The volumes delivered under the contract will be used to fire up KPC’s power stations. A press…

Photo: Keppel Offshore & Marine

Keppel to Deliver World's First Converted FLNGV

Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary, Keppel Shipyard Ltd (Keppel Shipyard), will soon deliver the world's first converted Floating Liquefaction Vessel (FLNGV) owned by Golar Hilli Corporation (Golar), a subsidiary of Golar LNG Ltd. The vessel was named Hilli Episeyo at a ceremony in Keppel Shipyard today. Upon its completion, the FLNGV will be put in operation offshore Kribi, Cameroon for Société Nationale des Hydrocarbures and Perenco Cameroon SA, and will be the first FLNGV project in Africa.

© Johnny Beanstalk / Adobe Stock

Coal: India's Energy Mainstay for Next 30 Years

Coal will remain India's main energy source for the next three decades although its share will gradually fall as the country pushes renewable power generation, according to a government report seen by Reuters. The country is the world's third-largest coal producer and the third-biggest greenhouse gas emitter. It depends on coal for about three-fifths of its energy needs and aims to double its output to 1.5 billion tonnes by 2020. By 2047, however, coal's share of India's energy mix would shrink to 42-48 percent…

Pic: RPGCL, Petrobangla Group

Petrobangla, Summit Pact for 2nd LNG Terminal

Bangladesh's State-owned Petrobangla has inked final deals with Summit LNG Terminal Co to development the country's second floating LNG terminal. The Financial Express reported that Summit group will install a Floating Storage and Re-gasification Unit (FSRU) at Moheshkhali Island in the Cox's Bazar. The terminal will have 500 million meter standard cubic feet per day (mmscfd) capacity, which would go on operation after 18 months. The cost of the second project is estimated at $400 million-500 million…

Remi Eriksen, CEO, DNV GL. (Photo: DNV GL)

DNV GL & “The Future of Spaceship Earth”

At a presentation this morning at the United Nations in New York, Remi Eriksen, CEO, DNV GL led a presentation on “The Future of Spaceship Earth,” a global forecast on the outlook for the world to 2050. The skinny: The world needs to move further, faster on multiple fronts to ensure the sustainable future of the planet. Calling for “extraordinary action” to achieve the 17 Sustainable Development Goals (SDG’s) as presented in 2015, Remi Eriksen, CEO, DNV GL introduced “The Future of Spaceship Earth,” a global forecast on the outlook for the world to 2050, at the UN in New York this morning.

LNG as ship fuel in Europe is still at early stage. Photo DNV GL

DNV GL Recommendations for Adopting LNG as Ship Fuel

As air emission requirements are becoming more stringent, one possible solution for reduced emissions is to use LNG as fuel for shipping. However take-up of LNG as ship fuel in Europe is still at an early stage. DNV GL has provided a report for the EU1 providing recommendations on how to address barriers to wider adoption. By November 2016 all member states have to submit national policy frameworks for the implementation of the EU alternative fuels Directive; the report’s recommendations are a useful aid in this.

Image: DNV GL – Energy

India’s Potential in Offshore Wind Power

The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India. This study is a significant step forward in preparing a roadmap for offshore wind power in India by the GWEC led FOWIND consortium. The key supply chain elements of the offshore wind sector are assessed along with a preliminary evaluation of companies entering the offshore wind sector.

Synergi Pipeline software enables safe and efficient pipeline operations Photo DNV GL

Standardization for Cost Effective Pipeline Innovation - DNV GL

Growing global energy demand and requirements for additional pipeline capacity are driving the pipeline segment. However, pipeline related innovation is prioritized by only 4% of senior oil & gas professionals, according to research by DNV GL, the technical advisor to the oil & gas industry. Further, the research shows that nearly one in five oil & gas companies (18%) do not have a strategy in place to maintain innovation. Six in ten (61%) respondents agree that operators will increasingly push to standardize their delivery globally, up from 55% in 2015 and 52% in 2014.

Image: Kawasaki Shipbuilding Corporation

U.S. LNG Seen Destined for Europe

According to Wood Mackenzie Ltd, Europe is set to be the key destination for liquefied natural gas supplies from the U.S. after prices fell in Asia, the world’s biggest consumer of the fuel says a report in Bloomberg. The U.S. is forecast to ship about 55 percent of its total LNG production, or 32 million metric tons a year, to Europe by 2020, according to Alex Munton, the Houston-based principal analyst for Americas LNG at Wood Mackenzie. That’s because Europe is so close, has ample import capacity and liquid markets, and now has prices nearer to those in Asia.

Eldar Sætre at the Autumn Conference 2015 (Photo: Ole Jørgen Bratland / Statoil)

Energy Industry Faces a Tough Reality -Statoil CEO

Global challenges and new opportunities in the energy market will create a turning point for the industry, says Statoil CEO Eldar Sætre at the Statoil Autumn Conference. In his speech to the Norwegian Prime Minister and other guests at the annual Autumn Conference, Sætre emphasized that the energy world is changing and the oil and gas industry is currently facing a tough reality, as global upstream investments are estimated to fall by 20 percent in 2015. But oil and gas will continue to play an important role in the future energy mix. “We know that energy demand is growing.

CEO of Statoil ASA, Eldar Sætre

A Tough Reality for Industry - Statoil

Global challenges and new opportunities in the energy market will create a turning point for the industry, says Statoil CEO Eldar Sætre at the Statoil Autumn Conference. In his speech to the Norwegian Prime Minister and other guests at the annual Autumn Conference, Sætre emphasized the fact that the energy world is changing and the oil and gas industry is currently facing a tough reality, as global upstream investments are estimated to fall by 20% in 2015. But oil and gas will continue to play an important role in the future energy mix. "We know that energy demand is growing.

(Image: iStock)

Deepwater Downturn: Bump in the Road or Long-term Slowdown?

IMA/World Energy Reports has just completed a comprehensive assessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 – provides our forecast of orders for floating production systems between 2016 and 2020. Here’s an overview of the findings and conclusions in the report. We see the downturn in market conditions and implosion of Petrobras as a bump in the road. While the outlook is clearly dimmer than last year…

(Image: iStock)

Deepwater Downturn: Bump in the Road or Long-term Slowdown?

IMA/World Energy Reports has just completed a comprehensive assessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 – provides our forecast of orders for floating production systems between 2016 and 2020. Here’s an overview of the findings and conclusions in the report. We see the downturn in market conditions and implosion of Petrobras as a bump in the road. While the outlook is clearly dimmer than last year…

Power block at Gila River plant

UniSource Buys Gila River Power Station

UniSource Energy Services (UES), an indirect, wholly owned subsidiary of Fortis Inc., has strengthened its generating portfolio and reduced its reliance on the wholesale energy market through the purchase of a share of the efficient natural gas-fired Gila River Power Station in Gila Bend. Under the terms of the purchase, UES subsidiary UNS Electric, Inc. and sister company Tucson Electric Power (TEP) acquired the 550-megawatt (MW) Gila River Power Station Power Block 3 from Gila River Power LLC for US$219 million.

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ExxonMobil To Support MIT Energy Initiatives

ExxonMobil has signed an agreement to become a founding member of the MIT Energy Initiative (MITEI), a unique collaboration aimed at working together to advance and explore the future of energy. MIT President Rafael Reif and TJ Wojnar, Jr., president of ExxonMobil Research and Engineering Company (EMRE), launched the collaborative effort during a ceremony at MIT. “At MIT, we find that working closely with industry alerts us to real-world problems and opportunities for progress.

Chevron - First Gas from Bangladesh Bibiyana Project

Chevron Corporation today announced that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country. The project included an expansion of the existing gas plant to process increased natural gas volumes from the Bibiyana Field, additional development wells and an enhanced gas liquids recovery unit. The project is expected to boost Chevron-operated natural gas production capacity in Bangladesh by more than 300 million cubic feet per day to 1.4 billion cubic feet per day.

Arve Johan Kalleklev regional manager for Oil & Gas in South East Asia

Kalleklev to Head DNV GL's SE Asia Oil & Gas

Energy demand in South East Asia is expected to grow at twice the rate of the rest of the world. DNV GL has appointed Arve Johan Kalleklev regional manager for Oil & Gas in South East Asia just as the company is establishing a dedicated LNG and Gas Consulting unit in Singapore. The unit will support the extensive development plans for a safe, secure and reliable gas and LNG infrastructure in Asia. It is estimated that USD 460 billion will need to be invested in South East Asia’s gas and LNG infrastructure by 2035 to meet energy demand. “This will secure robust growth in LNG supply.

$310 Billion 'Energy Efficiency' Market Grows Rapidly

IEA report sees energy efficiency finance becoming established market segment in its own right ... The global energy efficiency market is worth at least $310 billion a year and growing, according to a new report from the International Energy Agency that confirms the position of energy efficiency as the world’s “first fuel”. The report also finds that energy efficiency finance is becoming an established market segment, with innovative new products and standards helping to overcome risks and bringing stability and confidence to the market.

Voith to supply complete hydropower equipment for the expansion of a pumped storage plant

Voith Hydropower Equipment for Thailand's Storage Plant

Voith has been awarded a new contract to supply the complete electromechanical equipment for a pumped storage power plant in Thailand. The order for the extension of the Lam Ta Khong hydropower plant includes the supply of two motor-generators, two 255 MW vertical pump turbines, the automation systems as well as the electrical and mechanical balance-of-plant systems. The contract has been awarded by the Electricity Generation Authority of Thailand (EGAT) and has a total value of around €50 million.

Photo: Rexroth

New IndraDrive CL/ML from Rexroth

Greater energy efficiency and safety increasingly determine the selection of electric drives, even at high levels of power. With its IndraDrive CL/ML, Bosch Rexroth now offers a scaled product range of strong drive solutions from 110 kW to 4 MW for applications in metal forming, plastics, test, printing, metallurgy, marine, offshore and other heavy industries. These drives open up numerous opportunities for users to improve energy efficiency, especially through power regeneration.

Maritime & Offshore M&A

Workboat and offshore marine markets have been gaining strength over the past three years. A resurgence of oil production in the Gulf of Mexico has brought orders for new vessels, major oil companies are ramping up their presence in the region, and Gulf-oriented state governments are aligning to encourage offshore growth. Merger and Acquisition volumes have generally expanded in the US along with this growth as strategic companies seek to strengthen their positions in niche competencies (Figure 1).

stock photo

Renewables to Surpass Gas by 2016 in Global Power Mix

Power generation from hydro, wind, solar and other renewable sources worldwide will exceed that from gas and be twice that from nuclear by 2016, the International Energy Agency (IEA) said today in its second annual Medium-Term Renewable Energy Market Report (MTRMR). According to the MTRMR, despite a difficult economic context, renewable power is expected to increase by 40% in the next five years. Renewables are now the fastest-growing power generation sector and will make up almost a quarter of the global power mix by 2018, up from an estimated 20% in 2011.

Norwegian Embassy Reports on Asia Offshore Exploration and Production

Rising energy demand from Asia Pacific countries is a key factor driving the growth in regional offshore oil and gas exploration and production (E&P) activities. In response to this, The Royal Norwegian Embassy in Singapore, Innovation Norway in alliance with DNV and Norwegian Business Association (Singapore) is staging the Asia Offshore Technology Conference in Singapore. The conference will examine and draw practical conclusions about ‘The Challenges of Offshore E&P in Asia Pacific’.