Singapore approves the import of solar power from Australia via an undersea cable
SunCable, the project's owner, announced on Tuesday that Singapore's energy regulator has given conditional approval to a multi-billion-dollar project to pipe solar electricity 2,672 miles (2,300 km) from Australia to Singapore. The Energy Market Authority of Singapore granted conditional approval to SunCable after a thorough process to determine the project's technical and commercial viability. SunCable, owned by Atlassian billionaire Mike CannonBrookes and based in Northern Australia…
Woodside completes Tellurian acquisition for $1.2 billion
Woodside Energy announced on Wednesday that it had completed the acquisition, including the debt, of U.S. Gulf Coast Liquefied Natural Gas export project developer Tellurian. Tellurian's shareholders voted last week in favor of the proposed acquisition by Australian energy producer. Woodside has announced that it is renaming the Driftwood Louisiana LNG opportunity to Woodside Louisiana LNG. The company stated that it aims to be ready for a final investment decision (FID)…
The front-runner for Mozambique president is likely to continue keeping Rwandans on the job of protecting gas sites
Analysts say that the ruling party candidate for this month's election, who is almost guaranteed to win, will continue to rely on Rwanda's army and European money in order to secure the region's vast gas fields, which are plagued by islamist violence. Daniel Chapo (47), an ex-highschool teacher, will be overseeing the construction of two LNG projects that are currently halted due to insecurity in the northern Cabo Delgado Province.
Origin Energy, Australia's hydrogen hub, plans to leave the Hunter Valley
Origin Energy, Australia's largest energy company, announced on Thursday that it will abandon its potential development project for the Hunter Valley Hydrogen Hub in New South Wales. The project is estimated to cost A$207.6 millions ($142.60 Million). The second largest power producer in the country said that it will also cease all work on hydrogen development, but remains open to exploring commercial options for HVHH.
Sources: TotalEnergies will sign a $10 billion deal for Suriname's offshore project
Four sources familiar with the project said that TotalEnergies, a French oil company, will sign the final investment decision on Tuesday, for the first offshore oil and natural gas development of Suriname. The development is expected to cost more than $10 billion. Gran Morgu, located in Block 58 140 km off of the coast of South America, has estimated recoverable reserves of 700 million barrels. This is comparable to ExxonMobil’s 11 billion barrel discovery in the neighbouring oil-rich Guyana.
Exxon and Abu Dhabi's ADNOC will partner in the delayed Texas hydrogen project
The Abu Dhabi National Oil Company will purchase a 35% stake in Exxon Mobil Corp.'s low-carbon hydrogen project proposed in Texas. Both companies announced a one-year delay in the start-up until 2029. ADNOC's investments show a confidence in the multi-billion-dollar project, which Exxon had threatened to abandon if the U.S. Government restricted tax credits. The final investment decision was pushed back to 2025 from 2024. Exxon-ADNOC refused to reveal the value of the deal.
Australia approves $13.5 billion project to export solar energy to Singapore
Australia announced on Wednesday that it has given the green light to a A$20 Billion ($13.5 Billion) solar project. The project will ship energy from the giant solar farm located in the north of the country to Singapore via a 4,300 km undersea cable. Tanya Plibersek, Environment Minister, said SunCable’s Australia-Asia Power Link Project would help meet the growing demand for renewable energies at home and abroad. SunCable says that a final investment decision will be made in 2027…
Exxon Mobil Continues to Ramp Up LNG Portfolio
Exxon Mobil is ahead of schedule with its plan to double the size of its liquefied natural gas (LNG) portfolio to 40 million tons per annum (mtpa) by 2030 and will focus on selling its own gas rather than trading that of third parties, said Peter Clarke, Exxon Mobil SVP for global LNG.Exxon is revamping its LNG trading strategy amid growing production of the fuel and as part of a wider corporate reorganization that began in 2022. Unlike other majors, Exxon plans to mainly trade its own gas, said Clarke.
Vattenfall, BASF Partner on Nordlicht 1 and 2
Vattenfall and BASF are in advanced and exclusive discussions to partner on the Nordlicht 1 and 2 projects through a sale of 49 percent of the project shares to BASF. Both parties signed a Memorandum of Understanding to formally express their joint ambition. The Nordlicht wind park zone is located 85 km north of the island of Borkum in the German North Sea and consists of two separate sites: Nordlicht 1 with a capacity of 980 MW and Nordlicht 2 with 630 MW. Vattenfall develops and constructs the Nordlicht sites.
OMV Petrom Makes Largest Crude Oil Discovery in Decades
Romanian oil and gas group OMV Petrom, majority-controlled by Austria's OMV, said on Tuesday it discovered new crude oil and natural gas deposits equal to about three quarters of its overall 2022 production.The deposits are the largest crude oil discovery OMV Petrom has made in decades, it said, and were found in southern Romania holding over 30 million barrerls of oil equivalent (boe) of recoverable resources."The new…
Technip Energies Sets Up Green Hydrogen JV, Beats Quarterly Earnings Expectations
French oil and gas services group Technip Energies on Thursday announced a green hydrogen solutions joint-venture with Belgian group John Cockerill, while reporting stronger-than-expected first-quarter earnings. The need to combat climate change, along with Russia's invasion of Ukraine, have created opportunities for energy service firms, with increased investments in liquefied natural gas (LNG) and low-carbon energy sources as Western countries impose sanctions on Moscow's energy exports.
Ineos Inks 20-year LNG Deal with Sempra Infrastructure
Britain's INEOS Energy, part of INEOS Group, has signed an agreement with U.S. firm Sempra Infrastructure for the supply of 1.4 million tonnes per annum of liquefied natural gas (LNG) from North America for 20 years, it said on Wednesday.It marks INEOS's entry into the global LNG market, with the volumes intended both for trading and supplying of INEOS' own industrial needs in Europe.The LNG will be delivered free-on-board…
What to Expect from the US Offshore Wind Market This Year
After many false starts, the U.S. offshore wind market is building strong roots for a solid future. But as the market develops from its current northeast and mid-Atlantic niche new opportunities and challenges arise.The U.S. offshore wind market has long been seen as not delivering on its significant potential. With an offshore wind technical potential of more than double that of the country’s total annual electricity sales, the U.S.
Neptune Energy Targets 2030 to Store More Carbon Than It Emits
With increasing pressure on the oil and gas industry to cut its emissions footprint, Neptune Energy said it aims to go beyond net zero and store more carbon than is emitted from its operations and the use of its sold products by 2030.According to the company, it is currently progressing a pair of carbon capture and storage (CCS) developments in the Dutch and UK sectors of the North Sea that it claims could store more…
Cheniere Asks for More Time to Build Texas Corpus LNG Expansion
Top U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc asked federal regulators to extend the amount of time it has to build the proposed Stage 3 expansion at its Corpus Christi LNG export plant in Texas due to pandemic delays.When the U.S. Federal Energy Regulatory Commission (FERC) approved construction of Stage 3 in November 2019, the regulator gave Cheniere five years, or until around November 2024, to…
Tellurian to Sell LNG to Gunvor, Delays Louisiana Project Start
U.S. liquefied natural gas (LNG) developer Tellurian Inc said on Thursday it signed a 10-year agreement with commodity trader Gunvor Group for 3 million tonnes per annum (MTPA) of LNG.Tellurian shares soared around 24% on the news to their highest since February.In addition, Tellurian released a presentation that said its proposed Driftwood export plant in Louisiana was positioned for first quarter 2022 commerciality.Analysts…
Chevron, Microsoft, Schlumberger to Build Carbon Capture Plant in California
Chevron Corp is partnering with Microsoft Corp, oilfield services firm Schlumberger and privately held Clean Energy Systems to build a carbon capture plant in California, as the U.S. oil major expands investments in renewable technology.Fossil fuel companies have faced increased pressure in recent years to reduce emissions, spend more on low-carbon energy and disclose the impact their production has on climate change.Chevron said on Thursday the plant…
Shell Accelerating Renewables Push in Germany
Royal Dutch Shell in Germany aims to produce aviation fuel and naphtha made from crops and renewable power and to increase to commercial scale an electrolysis plant that makes fossil-free hydrogen, as it seeks to move away from crude oil.The energy major told an online conference on Friday it had applied for subsidies to carry out the work from the European Union and from German funds earmarked for decarbonization.Fabian Ziegler…
Exxon Committed to Singapore Refinery Expansion
Exxon Mobil Corp said on Thursday it remained committed to expanding its refining-petrochemical complex in Singapore amid an ongoing review of its projects globally.Along with other oil producers, Exxon has been slashing costs due to a collapse in oil demand and ill-timed bets on new projects. The top U.S. oil company earlier outlined more than $10 billion in budget cuts this year.Exxon made a final investment decision in 2019 on the multi-billion dollar expansion of its integrated manufacturing complex in Singapore…
Woodside's Revenue Slumps More than Expected
Australia's Woodside Petroleum Ltd reported a worse-than-feared 29% drop in quarterly revenue, hit by weak spot liquefied natural gas (LNG) prices, but said it still expected to book a net profit in the first half.The hit came due to the double whammy of a global gas glut and a slump in demand with the coronavirus pandemic, and sent the company's shares down more than 2% while its peers were all trading higher."It's been…
