Copenhagen Infrastructure Partners closes third offshore wind project with Taiwan
Copenhagen Infrastructure Partners, a clean energy fund manager, announced on Wednesday that it had reached financial closure on its 495 Megawatt (MW), Fengmiao I Wind Project, located off the coast Taichung in Taiwan. CIP announced that Fengmiao 1, its third offshore wind farm in Taiwan, would be built by local and international suppliers with proven track records. CIP reports that Danish wind turbine manufacturer Vestas will provide 33 units of their latest 15MW turbines for Fengmiao I. Vestas supplies turbines to CIP’s two existing projects.
Exxon Mobil to receive LNG from ARC Resources
ARC Resources announced on Tuesday that it had signed a long-term liquefied gas supply contract with a division of Exxon Mobil. In recent years, global LNG demand has increased amid a move towards cleaner energy. The U.S. is now a major supplier of both Europe and Asia. ExxonMobil LNG Asia Pacific has announced that it will buy all of ARC’s LNG from the Cedar LNG Project, which is approximately 1.5 million tonnes per year (mtpa), ARC said. Cedar LNG, a project in partnership with the Haisla Nation, located on Canada's West Coast and Pembina Pipeline, will begin commercial operations by 2028.
EDPR reports unexpected loss due to heavy impairments in US and Colombia
EDP ???? ?Renovaveis ? ??????????????????????? The world's fourth largest wind power producer posted a net loss of unexpected 556 million euro ($584million) in 2024 due to heavy impairments for projects in the United States, Colombia and other countries, despite revenue increases. EDPR surveyed analysts who expected a profit average of 272 millions euros. The company, which is majority owned by Portugal’s EDP, reported that non-recurring charges totaling 777 million euro had a negative impact on the bottom line. This was "mainly due to the U.S.
Woodside Energy's profit for the year is at its lowest level in three years due to low oil and gas prices
Woodside Energy, a major oil and gas company, reported on Tuesday its lowest annual profit in the last three years, due to lower realized prices. However, it maintained its production forecast for 2025, based on expectations that demand for liquefied gas will be strong. The energy markets were affected by geopolitical events that occurred in the past year. Slowing global growth, and a softening of demand from China's top consumer also pushed down commodity prices. Woodside's average realized price for its products is $63.60 per bar of oil equivalent. This is a 7% decrease from last year.
Lightsource bp has secured 10 power purchases totaling 1.3 GW in the last 12 months
The firm reported on Wednesday that Lightsource bp - a renewable energy developer and a subsidiary of British oil giant BP - secured 10 power purchase agreement (PPA) in the last year, totaling 1.3 gigawatts of renewable energy capacity worldwide. Lightsource bp stated that the PPAs have been contracted in Europe, Americas and Asia Pacific for solar power. Microsoft, Google and LyondellBasell, a chemicals company, are among the customers of Lightsource bp. The average contract lasts 12 years. The firm stated that some of the 10 transactions were made public last year, but not all.
Venture Global rises after brokerages begin coverage with bullish rating
Venture Global shares reached a weekly peak on February 18th, after several brokerages began coverage of the company with bullish ratings despite its dull market debut in January. Venture Global shares rose 5.8% to $16.87. On January 24, the liquefied gas (LNG), provider started trading at New York Stock Exchange for $24.05 per stock, valuing the company as the largest gas exporter. Its market capitalization is $58.2 Billion. Investors and analysts are concerned about the company's long-term profits and legal disputes with UK energy giants BP and Shell.
Equinor will continue with the Rosebank oil and Gas Project in Britain
The UK manager of Equinor, the Norwegian oil and natural gas producer, said Wednesday at a conference on energy in New Delhi that the company will continue to develop its Rosebank oil field. Equinor, along with its partner Ithaca Energy, wants to develop the Rosebank Oil and Gas Field. However the plans to develop one of Britain's final major oil reservoirs have been a lightning-rod for climate activists who are calling for an end to fossil fuel production. The British Prime Minister Keir starmer said that while his government would not be issuing new exploration licenses…
Prices fall in Europe amid profit-taking and temperature revision
The wholesale gas prices in the Netherlands and Britain fell Wednesday morning, as profit-taking took place after Tuesday's new two-year peak. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was 1,35 euros lower at 55.10 Euro per megawatt hour by 1307 GMT. The Dutch April contract is down by 2.48 Euros at 55.12 euro/MWh. The front-month contract in Britain fell 4.54 pence, to 134.41 cents per therm. A gas trader stated that forecasts for the average temperature in North-West Europe have been slightly revised upwards from the weekend.
Mersen exceeds growth forecast and 'no impact' of US tariffs
Mersen, a French supplier of advanced materials, reported on Wednesday that its annual consolidated sales were higher than expected at 1.24 billion euro ($1.29 billion), representing organic growth of 2.6%. Thomas Baumgartner, Mersen’s Chief Financial officer, told a conference call that the company had exceeded its initial organic growth projection of 1%-2%. He attributed it in part to a recovery on the silicon semiconductors market by the end of 2024. Due to a slowdown on the electric vehicle market…
Japan's JERA plans on expanding US LNG purchases in order to diversify the energy supply
JERA, Japan's largest LNG buyer, is planning to increase its purchases from the United States in order to diversify their supply and meet the demand growth spurred on by data centres and AI. U.S. president Donald Trump promised to unleash the U.S. industry of energy to boost production and threatened the EU if it did not purchase more gas. This could mean that JERA would have to compete against other buyers to get more U.S. natural gas. Japan's largest utility, which handles between 30-35 millions metric tons of LNG per year, sources almost half of it from Asia Pacific, including Australia and Malaysia.
Santos Australia targets higher output in 2025, pinning hopes on Barossa Project
Santos, Australia's largest oil and gas company, forecast higher production for fiscal 2025 based on the expectation that Barossa will start production this year. The company also reported a sequential increase in its fourth quarter revenue on Thursday. Santos is the second largest independent gas producer in the country. Santos, the country's no. Visible Alpha's consensus was 89.9 million mmboe. If gains continue, shares could rise as high as 1.7% at A$7.250. This would be the best day for trading since January 13, 2013. As of 0046 GMT, the broader ASX 200 was down by 0.3%.
Dollar jumps after Trump's tariff plans. Shares are jittery.
The global markets welcomed Donald Trump's new presidency on Tuesday with apprehension, largely due to the headlines about his plans for trade and tariffs. The U.S. market was closed on Monday for a holiday, so the reactions to Trump’s return to the White House began to be felt in Asian trading on Tuesday. European futures were also pointing towards a lower opening. Investors cheered the possible delay of Trump's tariffs after a brief mention in his inauguration address, but the U.S.
IEA: Global gas markets will remain tight due to rising demand
LONDON (Jan. 21) - The global natural gas market will remain tight in 2019 as the demand for gas increases and production grows slower than it did before the energy crises of 2022 and 2020-2021. This was revealed by a report released on Tuesday by the International Energy Agency. Political factors have exacerbated the volatility of gas prices, including the uncertainty surrounding the energy policy of U.S. president Donald Trump and possible disruptions of Middle Eastern supply. The European Union has not yet experienced a shortage of gas due to the shutdown of Russian gas supplies via Ukraine…
Mooreast Appoints Ellingsen as CEO
Mooreast Holdings Ltd. announced today it will appoint Mr Eirik Ellingsen, a Norwegian with deep experience in the offshore and marine sector, as Chief Executive Officer (“CEO”) amid growing adoption of floating wind energy projects worldwide.Mr Ellingsen will assume the role of CEO at Mooreast on 1 January 2025. He will be taking over from Mr Sim Koon Lam, the founder, who will continue to serve as Executive Director and Deputy Chairman of the Group.Mooreast is a total mooring solutions specialist and an ultra-high power anchor manufacturer primarily serving the offshore renewable energy…
LNG can solve Europe's gas problems, but it comes at a cost: Russell
The fears that Europe will face a shortage of natural gas this winter are exaggerated. The liquefied gas (LNG), market has already taken steps to prevent any shortage, although at higher prices.The price of natural gas in Europe reached its highest level in over two years on November 22, when the benchmark contract for the front-month contract, at the Dutch TTF Hub, reached 49.03 euros/megawatt hour. This is equivalent to 14.97 British thermal units per million (mmBtu).The prices have…
Japan and Peru agree to cooperate in mineral mining technologies - Nikkei
Nikkei, a Japanese business daily, reported on Saturday that the leaders of Japan will sign a statement on cooperation on mineral mining technology later this month. The aim is to strengthen their supply chains by using Japanese technology. Nikkei reports that Japanese Prime Minister Shigeru shiba will hold a bilateral with Peruvian leader Jose Luis Guajardo during his visit to Peru to attend the Asia-Pacific Economic Cooperation Leaders' Summit (APEC). Japan, a country with limited resources, has actively reinforced global supply chains of critical minerals.
APPEC-Gunvor expanding Asia operations and into power, according to chairman
Gunvor Group, a global energy trader, is expanding its Asia operations in order to expand into existing markets, such as liquefied petrol gas (LPG), gasoline, naphtha and aromatics, as well as new areas, including power. Power is one of the areas that Torbjorn Tornqvist - who is also a founder - said had potential in Asia. He was speaking on the sidelines the Asia Pacific Petroleum Conference Conference (APPEC), which took place on Monday. Gunvor, a Geneva-based company, has its main Asian trading hub in Singapore.
APPEC/S&P Global predicts OPEC+ will increase their oil production next year
An executive from S&P Global told a Monday conference that the Organization of the Petroleum Exporting Countries (OPEC+) and its allies are expected to increase their production in 2025 for the first time since a few years. OPEC+ agreed last week to postpone a planned increase in oil production for October and November after crude prices fell to their lowest level in nine months. It added that it could further pause, or reverse, the hikes if necessary. Jim Burkhard told the Asia Pacific Petroleum Conference that OPEC+ would increase its production in 2025…
Floating Production – A Growing Segment in Transition
The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade, driving demand for, among other things, moorings, subsea systems, umbilicals, risers, flowlines and the large anchor handlers and subsea support vessels that will install and maintain the elements.At the same time…
Vestas Wins 46 MW Order in Japan
Vestas has secured a 46 MW repowering order with Eurus Energy Holdings Corporation for Eurus Kamaishi Wind Farm in Iwate prefecture, Japan. The order includes supply and supervision of installation of 11 units of V117-4.2 MW wind turbines.Vestas will also deliver a multi-year Active Output Management 4000 (AOM 4000) service for the wind farm, providing an energy-based availability guarantee to ensure optimised performance and long-term business case certainty for the customer.“We are pleased to partner with Eurus Energy Holdings Corporation again and to provide our wind energy solutions for the project.
