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Wednesday, October 28, 2020

Energy Sector News

Historical growth and prospects of gas investment for short-, medium- and long-term ($ billion). Source: GECF Secretariat, based on data from the GECF GGM

Rolling the Dice in Chaos: The Prospects of Investment in the Gas Industry

As stated in the Declaration of Malabo at the 5th Summit of Heads of State and Government of the GECF Member Countries, in order to sustain the security of demand and supply of natural gas, it is necessary to ensure sufficient investments through the entire gas value chain among all gas market stakeholders [1].Since the start of 2020, every aspect of the global economy, including investment projects in natural gas industry, have been strongly hit by the outbreak of the Covid-19 pandemic.

(Photo: Trafigura)

Trafigura Offers COVID-19 Premium

Commodities trader Trafigura Beheer has become the first company to offer a defined Covid premium on an Asian syndicated loan, paying up to an extra 20bp all-in on its latest US$1bn-equivalent financing.The novel pricing structure is a first for Asia, if not globally, and could set a precedent for other price-sensitive borrowers looking to limit the long-term effects of the pandemic on their funding costs.Without the Covid premiums, the terms of Trafigura's new deal are little…

Photo: Port of Venice

Jumbo Jubilee Carries 2 Giant Reactors From the Port of Venice

The flagship is part of the JUMBO fleet, as the well-known heavy lift shipping company. Equipped with 2 cranes with a total capacity of 1.800 tons, the JUBILEE carries 2 giant reactors of 1400 tons each and three other smaller ones produced by ATB Group, as an international company located in the North of Italy (Brescia), boasting  a long tradition in the design, manufacture, installation and commissioning of equipment in the energy sector.For over 60 years ATB Group chose to have its own headquarter in the Port of Venice…

Balmoral Tanks’ 150,000sqft design and manufacturing facility in South Yorkshire, UK, where the new range of tanks will be produced.

GFS Storage Tanks Aid Green Energy Growth

Balmoral Tanks introduced a new range of glass fused to steel (GFS) liquid storage tanks, part of the company’s portfolio of storage tanks for the water, wastewater, anaerobic digestion and processing markets.The development follows a $20m+ investment in manufacturing facilities at its South Yorkshire facility.“International markets require technology which allows their economy to thrive while being mindful of the impact on the environment,” said Allan Joyce, MD at Balmoral Tanks.

Image: Bahrain LNG

Bahrain LNG Import Terminal Complete

Bahrain LNG, the developer and owner of the first LNG receiving and regasification terminal developed on a public-private partnership (PPP) basis, has completed the mechanical construction and commissioning of the terminal.The customer is paying Bahrain LNG  as of completion and is sending out the last of the commissioning cargo so that the FSU Bahrain Spirit can redeploy on short‐term trade as intended. Most of the construction and commissioning contractors were able to be demobilized accordingly.Shaikh Mohamed bin Khalifa Al‐Khalifa…

(Photo: Crowley)

Crowley Realigns Its Marine Services Group

US-based Crowley Maritime Corp. announced on Wednesday that it has realigned its marine services organization and introduced new leadership.In a move that aims to provide better support to customers, Crowley Marine Services, part of the company’s shipping arm, will now be comprised of three distinct, yet interrelated business segments: offshore services, ship assist and tanker escort and engineering services – those provided by Crowley and subsidiary Jensen Maritime Consultants.Jeff Andreini…

Image: Watson Farley & Williams

CSEIP Buys 25% Stake in Arkona OWF

Credit Suisse Energy Infrastructure Partners (CSEIP) acquired 25% stake in the Arkona offshore wind farm (OWF) from Norwegian energy company Equinor.Watson Farley & Williams (WFW) has advised CSEIP on the EUR 340 million financing of the acquisition. The financing was arranged by Goldman Sachs.The 385 MW offshore wind farm, which is located in the German Exclusive Economic Zone in the Baltic Sea and comprises of 60 Siemens Gamesa 6MW turbines, was opened in April 2019. Following the transaction…

Pic: International Renewable Energy Agency (IRENA)

IRENA: Shipping Industry Must Cut Emissions

The International Renewable Energy Agency (IRENA) highlighted the importance of reducing shipping emissions and following the path towards a carbon-zero industry, in line with International Maritime Organization (IMO)’s sustainability targets.IRENA said that immediate action is required if the global shipping industry is to meet a target of halving its carbon emissions by the middle of the century.With heavy fuel oil covering 82 per cent of the sector’s energy needs, decarbonizing global shipping will play a critical role in achieving climate objectives…

Image: Port of Blyth

Blyth Port Readies Turbine Training Facility

UK's East coast port , Port of Blyth, said that it is installing a bespoke wind turbine training facility at its Bates terminal as part of a GBP1mln investment in training provision aimed at the offshore energy sector. This is a first for the UK wind industry.With the rapid growth of renewable energy providing the North East with major inward investment opportunities, the skills gap that currently exists in the sector is a key barrier to growth.This investment has enabled the Port of Blyth…

Image:  EOLOS

EOLOS Gets Capital Injection

EOLOS Floating Lidar Solutions, a start-up supported by EIT InnoEnergy, has completed a significant capital injection by the entity of the Swiss investment company Prorsum AG.Rajai Aghabi, CEO and founder of EOLOS, describes the capital increase as “a significant closing for EOLOS, allowing the present team the flexibility and capability to both grow and expand globally in the market of turn-key offshore wind data measurement campaigns, not only by strengthening our financial position…

Photo courtesy of TNPA

LPG Tanks Arrive at Port of Richards Bay

Transnet National Ports Authority’s (TNPA) Port of Richards Bay welcomed the arrival of four new 5650-ton liquefied petroleum gas (LPG) storage bullets on Thursday, September 12th on board the vessel XIN LU.The bullets are for the 22,600-ton capacity mounded LPG facility which is being developed at the port by Bidvest Tank Terminals (BTT), a unit of the Bidvest Group. The terminal will store LPG on behalf of independent LPG specialist Petredec, which ships the fuel from the US and the Middle East.Construction began in October 2018 and the facility is expected to become operational in 2020…

Pic: Gulf Island Fabrication Inc.

Gulf Island Wins Ferry Contract

American manufacturer of marine vessels used in the energy sector, Gulf Island Fabrication Inc. (GIFI) has received an award for the construction of a (70) seventy vehicle ferry from the Texas Department of Transportation.The fabricator of complex steel structures, modules and marine vessels said in a press note that the delivery is scheduled for late 2021.The ferry will operate between Galveston and Bolivar Island, Texas, it said.“I am pleased to have been selected to build this ferry for the Texas Department of Transportation…

The new head of NorSea Wind is back in Esbjerg, where he as a 17-year-old started his career. Photo: Red Star/NorSea Wind

NorSea Wind Appoints Pedersen CEO

NorSea Wind, part of the Wilhelmsen Ship Management (WSM) Group, has named Anders Peter Pedersen as its new chief executive officer (CEO). Pedersen  has extensive experience from the green energy sector. A lot has happened in the harbor since Anders Peter Pedersen as 17-year-old started his career on his first ship in Esbjerg, but now the circle is in many ways closed for the new CEO of NorSea Wind.He is practically back at the same harbor quay, where he boarded MS Stafford in the fall of 1982, but now it is as captain of NorSea Wind, and the view goes far from the bridge.

Image: Norsea Wind AS.

Wilhelmsen Acquires 50% of NorSea Wind

Norway-based global maritime industry group Wilhelmsen Ship Management (WSM) has announced the acquisition of a 50% stake of NorSea Wind and it’s subsidiaries to expand its offerings in the the renewable wind energy market.NorSea Wind, founded in 2016 as a subsidiary of  Norsea Group, provides project management and logistics planning throughout all stages for on and offshore wind farm projects.It is the focal element within Norsea Group where it integrates all service offerings for the wind energy segment as it’s go-to-market strategy.

Image: Port of Tyne

Tyne Port Attracts Offshore Wind Players

The Port of Tyne, which comprises the commercial docks in and around the River Tyne in Tyne and Wear in the northeast of England, is increasing their offer to potential offshore wind manufacturers.Offshore wind could provide 30% of Britain's electricity generation by 2030, and the Port of Tyne is perfectly placed to support this growing renewable sector.Announcing that the ‘Tyne is right’ to utilise its location, within 100 nautical miles of Dogger Bank, Hornsea, Seagreen and Sofia…

Saad al-Kaabi, President & CEO. Photo: Saad Sherida Al-Kaabi

Qatar to Invest USD 20 bln in US Energy Sector

Peninsular Arab country Qatar has said that it plans to invest more than $20 billion in the US energy sector over the next five years.According to a report in Reuters, minister of state for energy affairs of the energy-rich Qatar Saad Sherida Al-Kaabi, who is also the  President & CEO of Qatar Petroleum, said he is looking to invest in US oil and gas sectors as well as unconventional resources.The report quoted Saad as saying: “North of USD20 billion will be invested over the…

Musabbeh Al Kaabi. Photo: Cepsa

Cepsa Appoints Musabbeh Al Kaabi as Chairman

Spanish multinational oil and gas company Cepsa announced that Musabbeh Al Kaabi was named as Chairman in succession to Suhail Al Mazrouei at a meeting of the Board of Cepsa.This follows the appointment by Mubadala, as sole shareholder, of Saeed Al Mazrouei, Ahmed Saeed Al Calily and Bakheet Al Katheeri as members of the Board for a statutory period of four years.The three new board members, all senior executives of the Mubadala group, have distinguished backgrounds and broad experience and knowledge of the energy sector.Musabbeh Al Kaabi…

Photo: Peel Ports Group

Peel Ports Signs 12-year Deal with Asco

Peel Ports and offshore services firm ASCO have joined forces in a long-term strategic partnership aimed at supporting the energy sector in Great Yarmouth and promoting future sustainability for the port.By working in collaboration, the two organisations will support existing customers and attract new ones to the port by offering increased flexibility to meet the demands of the oil and gas, renewable energy and decommissioning sectors operating out of Great Yarmouth.The 12-year…

(Photo: Port of Corpus Christi )

Port of Corpus Christi Reports Tonnage Record

The Port of Corpus Christi set a new tonnage record of 79.3 million tons in the first nine months of 2018, surpassing the previous record of 77.9 million tons set in the first nine months of 2015. The number also eclipsed the same period in 2017 by 4 million tons, an increase of 5 percent year-over-year.The port’s volume growth in 2018 was driven by increases of crude oil (+11 percent), other petroleum products (+8 percent), and breakbulk shipments (+3 percent).“This tonnage record is one of many set by the Port of Corpus Christi in 2018…

Prime Minister Narendra Modi inaugurates Mundra LNG Terminal & Anjar. Photo by Press Press Information Bureau, Government of India

Indian PM Inaugurates Mundra LNG Terminal In Gujarat

Indian Prime Minister Narendra Modi has inaugurated the Mundra LNG terminal that has been developed in keeping with his emphasis on clean energy.He said that the inauguration of the LNG terminal is the highlight of today's programme. I am fortunate to have inaugurated three LNG terminals, he added.Narendra Modi said that when Gujarat got its first LNG terminal, people were surprised. Now, the State is poised to make a fourth LNG terminal, he added.Gujarat is emerging as an LNG hub of India, the Prime Minister said, adding that this should make every Gujarati proud.

OHT’s new installation vessel with a Liebherr heavy lift crane, type HLC 150000. Photo: Liebherr worldwide

Liebherr Bags Order to Deliver Heavy Lift Crane

Switzerland based Liebherr Group together with the Norwegian companies OHT, Ulstein Design & Solution BV, DNV-GL as well as Chinese shipyard CMHI are working to manufacture a unique vessel for applications in the wind energy sector, decommissioning, the installation of offshore platforms and for heavy-duty transports. CMHI, a well known manufacturer of offshore equipment and large vessels, is going to build the 216.3 meter long ship at its dockyard in Haimen on behalf of the heavy transport vessel operator, OHT.

SENER  appointed Jorge Sendagorta Cudós to be head of the Engineering and Construction area. Photo: Sener

Cudós Tapped to Lead Engineering and Construction for SENER

SENER  appointed Jorge Sendagorta Cudós to be head of the Engineering and Construction area. He was, until now, the country manager of SENER in Mexico. SENER's Engineering and Construction area, which will be managed by Cudós, comprises three Business Units: Infrastructure and Transport; Renewables, Power, Oil & Gas; and Marine. It has branches in Algeria, Argentina, Brazil, Canada, Colombia, South Korea, Chile, China, United Arab Emirates, Spain, USA, Morocco, Mexico, Portugal, UK, and South Africa.Cudós joined SENER in October 2012 in the energy sector.

Teekay Offshore Partners Appoints Interim CFO

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. announced that Tim Cowan join as Interim Chief Financial Officer of Teekay Offshore Group Ltd., a management services company that provides services to the Partnership’s subsidiaries while the company conducts a search for a permanent CFO.Cowan holds the position of Senior Vice President, Energy, at Brookfield Asset Management. Brookfield became a co-sponsor of the Partnership in September 2017, when…

Harland and Wolff’s retiring CEO Robert J Cooper shakes hands with his successor Jonathan Guest (Photo: Harland and Wolff)

Guest Promoted to CEO at Harland and Wolff

Jonathan Guest has been tapped to succeed Robert J Cooper as chief executive officer of Belfast shipyard Harland and Wolff Group PLC and Harland and Wolff Heavy Industries Limited.Guest, the company’s current director of business development and improvement, will step into the chief executive role on May 1 to replace Cooper who is retiring after more than four decades with the company.Guest has worked for 23 years as a professional engineer and executive director in a range of industries including marine…

(left to right – Alan Winde, Minister of Economic Opportunities in the Western Cape; Jeffrey Phang, Managing Director of Saldehco; Eric Hennet, Managing Director of Altus France (back); Sophie Masipa, Chairperson of Saldehco; Siyabonga Gama, Transnet Group Chief Executive; Mlamuli Buthelezi, Transnet Group Chief Operating Officer (back); Shulami Qalinge, Transnet National Ports Authority Chief Executive; and Alderman Marius Koen, Executive Mayor of Saldanha Bay Municipality (Photo: TNPA)

Agreement Paves Way for South African Offshore Supply Base

South Africa’s first dedicated and customized facility supporting offshore oil and gas activities will be introduced at the Port of Saldanha. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Saldehco Pty Ltd, which was signed off at an official ceremony at the port on Monday, 23 April 2018.Saldehco is a privately owned South African company, comprising principal shareholder HARPS Holdings Pte Limited and local partner Semona Pty Limited.

© chevallier yves / Adobe Stock

Algeria Lifts Imports Ban on Food Industry Raw Materials

Algeria's government has temporarily reversed a ban on imports of some raw materials for its food industry after shortages hit local firms, the trade ministry said on Tuesday.Imports of the materials were prohibited in a ban on imports of 951 products including cell phones and household appliances earlier this year, imposed as part of a drive to cut spending after a fall in energy earnings.The partial removal of the import ban is limited to raw materials needed for some categories of foods including chocolate, biscuits, confectionery, yogurt and juice."These inputs are from now on free for imp