GIEK Doubling Down on Offshore Wind
Tasked to provide the financial power to help Norwegian companies export their wares to the world, Wenche Nistad, CEO of the Norwegian Export Credit Guarantee Agency (GIEK) pulls no punches when asked about the appetite for investment in traditional offshore oil and gas today: “The money has disappeared; nobody wants to invest in oil and gas anymore; it’s all about renewable energy.”While GIEK’s guarantees to offshore wind total only about $500 million today…
Nexans Wins Seagreen OWF Gig
French global player in the cable and optical fiber industry, Nexans said that it has received a contract from SSE Renewables, a renewable energy arm of Airtricity, for 1075 MW Seagreen offshore wind farm (OWF) project.Nexans will be the preferred supplier to design, manufacture and install the onshore and offshore export cables for the Phase 1 development of the Seagreen offshore wind farm project.Currently under construction off the Angus coast, Phase 1 comprises the Seagreen Alpha and Bravo wind farms…
Offshore Wind Cable Market to Reach $3B
The global offshore wind cable market is estimated to grow at CAGR above 16% over the forecast time frame 2019 to 2026 and reach the market value around $3 billion by 2026.The demand for offshore wind cables has seen significant development due to the paradigm shift towards fresh renewable techniques with increasing consciousness of carbon emission limits, said a report by Acumen Research and Consulting."Offshore wind turbines are rapidly growing, with a higher capacity production more than onshore wind generation.
Nexans Wins Cable Contract for Northwester 2 Wind Farm
Nexans said it will supply a subsea power cable and associated accessories for the 219 MW Northwester 2 wind farm 46 km offshore from Zeebrugge, Belgium.The French based company has been awarded a contract from Northwester 2 developer Parkwind to design, manufacture and test the submarine power export cable for the offshore wind farm.The Northwester 2 wind farm comprises 23 turbines. It will be the seventh wind farm to be constructed off the Belgian coast and the first worldwide to feature the record-setting 9.5 MW V164 turbine manufactured by MHI Vestas.
Prysmian CEO Says Not Interested in Nexans
France cable maker Nexans is not the right target for industry leader Prysmian which is scouting for possible acquisitions, the chief executive of the Italian group said on Tuesday. "There would be several overlaps with Nexans," CEO Valerio Battista said on the sideline of a conference, adding getting antitrust approval for the deal would require Prysmian to sell assets. "It's no use to look at (a target) if you then have to sell assets," he said. Battista has said in the past Prysmian was studying several acquisitions including a possible large deal.
iSURVEY Strengthens North Sea Presence
iSURVEY Group, a leading provider of survey and positioning services to the global oil and gas and telecommunications sectors, has boosted its North Sea presence following a number of contract wins and the appointment of a new business development manager. Following the recent announcement of a contract extension with Nexans Norway AS, iSURVEY has also been awarded a second contract extension with AGR to provide rig move and positioning services for the company and its clients, Faroe and Engie, during their exploration-drilling campaigns in 2016.
Subsea Supplies Launches Online Ordering Solution
Subsea Supplies has invested £50,000 to launch a new online procurement solution that gives clients access to thousands of products at the touch of a button. The Aberdeen-based company, which supplies cables, components and connectors to firms operating in underwater-related industries, developed the solution in partnership with city-based design agency, Form Digital. Subsea Supplies says the new solution, which has been heralded by industry body, Subsea UK…
NKT Cables Positions for Offshore Windfarm Growth
Danish power cable maker NKT Cables expects its business of delivering underwater cables to offshore wind farms to grow rapidly in the coming years, its chief executive said on Wednesday. The company, which is part of NKT Holding, has more than 20 percent of the market for offshore cables, accounting for 18 percent of its sales. It expects market volumes to grow on average by some 28 percent per year from 2016 to 2020. "We clearly want to be part of that growth…
DNV GL Launches 2 Cost Saving JIPS
DNV GL, the leading technical advisor to the oil and gas industry, is launching two joint industry projects (JIPs) to investigate affordable composite components for the subsea sector and qualify technology for more efficient linepipe production processes. It is estimated that the JIPs could deliver a combined saving of £6.75 million. This has great significance in today’s cost constrained climate, with the subsea and pipeline sectors are actively looking at alternative means to drive down costs, cut complexity and reduce project overruns.
Dutch, Danish Grids to Build Subsea Power Cable
Dutch power grid operator TenneT and Danish counterpart Energinet.dk will invest over 600 million euros in a new subsea cable that will connect the two countries electricity networks, TenneT said in a statement. The new direct-current interconnector - called the COBRAcable (for COpenhagen BRussels Amsterdam) - will be over 300 km long and will have transmission capacity of about 700 megawatts (MW) - as much as a small nuclear power plant. The European Commission…
DNV GL JIP Provides Guidance for Subsea Installations
Failures of installed pipes, umbilicals and cables during installation can potentially lead to higher costs for the oil and gas industry and delayed start-ups. However, there are currently no Standards or Recommended Practices that address analysis methodology related to the laying of such products. To address this, DNV GL has launched a Joint Industry Project (JIP) to develop best practice guidelines on this matter. Twenty industry partners have signed up for the JIP, including Statoil, Petrobras and Woodside, as well as all the major installation contractors.
