Lazard hires Miller from Citigroup in its energy investment banking drive, sources claim
People familiar with the matter said that Lazard hired Citigroup veteran investment banker Chris Miller to lead its dealmaking efforts within the energy sector. Miller, who was based in Houston, and had the title of vice-chairman of energy investment banking for Citigroup, recently resigned his position with the Wall Street bank and will begin his new role at Lazard early in 2025…
EU's von der Leyen announces 35 bln euro loan in Kyiv visit
Ursula von der Leyen, President of the European Commission during her visit to Kyiv last Friday, announced a loan for Ukraine up to 39 billion dollars ($35 billion), saying that it was necessary to protect the country from Russian attacks and to help it survive the winter. Zelenskiy, standing next to her, said that the loan will be used for energy procurement, air defences, and arms procurement.
Moscow claims that the EU has lost its mind over increased military aid to Ukraine
The Russian Foreign Ministry said on Friday that the European Union has "lost their mind" and is heading towards ruin by providing additional military aid to Ukraine. According to a letter from the German finance ministry, Germany will approve an additional 400 million euros ($450 millions) of military aid for Ukraine to help it fight Russia. These funds will be added to the 8 billion euro budget for Ukraine in 2024.
Energy Charter Treaty Talks: EU to Seek Fossil Fuel Phase-out
The European Union's executive will push for a 10-year phase-out of the protection for fossil fuels under an international energy treaty, following calls from some countries to quit the accord unless it can be aligned with Europe's climate goals.The more than 50 signatories to the Energy Charter Treaty will next month resume talks to update the agreement…
Boskalis Bags El Salvador FSRU Gig
Dutch dredging, offshore and heavylift company Royal Boskalis Westminster N.V. has been awarded a major contract to connect an offshore Floating Storage and Regasification Unit (FSRU) to an onshore power plant in El Salvador.The contract was awarded by Energia del Pacifico (EDP), a 378-MW liquefied natural gas (LNG)-to-power infrastructure project at the Port of Acajutla, El Salvador.
ABB Tests Subsea Power Technology System
The completion of a final 3,000-hour test phase of the Swiss-Swedish technology multinational ABB’s subsea power infrastructure signals the culmination of a $100m partnership with world oil majors.The company has officially announced the completion of shallow water test proving that its subsea power distribution and conversion technology system for…
Hempel Promotes Wiese
Martin Wiese has been appointed to lead the protective and industrial business areas for worldwide coatings manufacturer Hempel. These two business segments, which deliver around half of Hempel’s total turnover, cover oil and gas, wind power, infrastructure and thermal power.Wiese, who took the role as of October 1, has 20 years of experience in the coatings industry.
W African Firm Builds LNG Import Capacity
Equatorial Guinea is set to construct the first liquefied natural gas (LNG) storage and regasification plant in West Africa, advancing efforts to monetize gas resources through the creation of a domestic gas-to-power infrastructure.Located at the Port of Akonikien, the landmark regasification plant will enable the storage, transportation and distribution of liquefied natural gas (LNG) to the country’s mainland…
Floating LNG Power Vessel Market Set to Exceed USD 1 Bln
The Global Floating LNG Power Vessel market accounted for $780.14 million in 2017 and is expected to reach $1,073.54 million by 2026 growing at a CAGR of 3.6% from 2017 to 2026.According to a market research report by ResearchAndMarkets, some of the factors such as growing demand for power coupled with the lack of power infrastructure and increase in hybrid fuel engines are fueling the market growth.However…
Rolls-Royce, TSK to Deliver Five Power Plants
A consortium comprising EPC contractor TSK and Rolls-Royce has signed an engineering, procurement and construction (“EPC”) contract with Prime Energía Quickstart Spa, a subsidiary of Prime Energia SpA (“Prime Energía”), for the construction of five power plants across Chile consisting of 265 MTU Onsite Energy 16V 4000 gensets.Prime Energía is a subsidiary of the New York-based Glenfarne Group…
Exxon Assessing Earthquake Damage to New Guinea NatGas Plant
LNG export project knocked out by major quake in late Feb. A senior Exxon Mobil Corp executive said on Wednesday the company is still assessing damage to its natural gas processing plant in the mountains of Papua New Guinea, knocked out by a strong earthquake last month. A powerful 7.5 magnitude quake struck near Exxon's Hides facility on Feb. 25, killing dozens of people and halting production at the site.
Wison Signs MOU for Medium Large Floating LNG Power Solution
Wison Offshore & Marine has signed a Memorandum of Understanding (“MOU”) on strategic cooperation with Shanghai Electric Power Generation Group. Two parties will join their efforts in medium to large-scale floating LNG power generation barge, with regards to its product development, global marketing and technical services. Such collaboration aims…
Total Looks at Downstream to Spur Gas Demand
France's Total SA is looking to invest in gas and power infrastructure projects in Morocco and South Africa as it seeks to open new markets, the company's head of gas said on Thursday. Total will roughly double its liquefied natural gas (LNG) portfolio by 2020 to 15 million tonnes per year, but the company needs to look at deals that will give it footholds in new markets and capture new gas buyers, Laurent Vivier said.
ABB wins $75 mi Brazil's Power Transmission Order
ABB has won an order worth around $75 million to supply advanced converter transformers for the Belo Monte 800 kilovolts (kV) ultra-high-voltage direct current (UHVDC) transmission link. The 2,518 kilometer (km) link will transmit clean power generated in the north of Brazil, from the Xingu substation, to the Rio Substation in the southeast. It will…
ABB Energizes Transformer at record 1.2 mln Volts
ABB has developed, manufactured and energized a 1,200-kilovolt (kV) ultra-high-voltage power transformer to support India’s plans to build a 1,200 kV transmission system, supplementing the existing 400 kV and 800 kV transmission grid as demand for electricity increases. The transformer was manufactured and tested at ABB’s state-of-the-art Vadodara facility in India.
ABB, Fluor Partnership for Power Substation Projects delivery
ABB and Fluor have formed a global strategic partnership for the execution of large turnkey engineering, procurement and construction (EPC) projects for electrical substations. By combining ABB’s world-leading technology and its market leadership position in power transmission and distribution with Fluor’s expertise and experience in delivering large EPC projects…
ABB to Extend, Upgrade Polish Power Grid
ABB has won orders worth around $40 million from Poland’s national transmission system operator Polskie Sieci Elektronergetyczne S.A (PSE S.A) to provide energy-efficient transformers that will extend and upgrade the power transmission grid in Poland. The orders were booked in the second quarter of 2016. The order is part of a project to modernize…
Golar, Stonepeak Launch Launch FSRU Joint Venture
Golar LNG Limited announced that it has entered into a 50/50 joint venture with investment vehicles affiliated with private equity firm Stonepeak Infrastructure Partners. The joint venture company, Golar Power Ltd, will offer integrated LNG based downstream solutions, through the ownership and operation of floating storage and regasification units (FSRU) and associated terminal and power generation infrastructure.
ABB's GIS Substation to boost Iraq's Power infrastructure
ABB has won an order worth around $100 million from Mass Global Holding to deliver a gas-insulated switchgear (GIS) substation that will help integrate 3,000 megawatts (MW) of electricity generated by a combined cycle power plant, utilizing Iraq’s natural gas resources. The government is rebuilding the country, investing in national housing programs…
ABB to Upgrade S. Arabia’s Power Grid
ABB technology to upgrade five GIS substations to increase electricity transmission capacity ABB, the leading power and automation technology group, has won orders worth around $150 million from the Saudi Electricity Company (SEC) to expand five existing substations, helping to ready the country’s transmission system for a 50 percent expansion of power generation capacity to accommodate a growing economy.
