WFW Advises on Race Bank Wind Farm Deal
Watson Farley & Williams (WFW), an international law firm based in London, said that it has advised Race Bank Wind Farm Limited on its USD 608 million sale of transmission system assets relating to the 573 MW Race Bank offshore wind farm to Diamond Transmission Partners.Race Bank is a joint venture owned by Ørsted (50%), Macquarie European Infrastructure Fund 5 (25%), a fund established by Sumitomo Corporation…
Japanese Firms Begin Offshore Wind Surveys
Japanese companies Sumitomo Corporation and Electric Power Development Co., Ltd. (J-POWER) have begun an offshore ground investigation off the coast of Japan to explore the possibility of developing an offshore wind power plant.The Japanese government is currently in the process of determining areas to be designated as offshore wind power development promotion areas under a new law enacted this fiscal year…
Engie, EDPR, Sumitomo Pact to Build French Offshore Wind Farms
French utility Engie and Spanish partner EDP Renovaveis (EDPR) announced their alliance with the Japanese group Sumitomo Corporation to build the French offshore wind farms of Dieppe-Le Tréport and Yeu-Noirmoutier.As part of the alliance, Sumitomo Corporation acquires a 29.5% equity stake in the French offshore projects (Dieppe Le Tréport and Yeu Noirmoutier) and will bring to the consortium its proven and complementary offshore wind expertise in terms of development…
Arkas Bunkering, Sumitomo Corporation in LNG Bunkering Deal
Arkas Bunkering have signed a protocol with Japan-based Sumitomo Corporation for the use of liquefied natural gas (LNG) as bunker fuel in Turkish and nearby seas. As environmentally-friendly buildings, vessels and fuels have become more popular than ever, new applications acting as reminders for both states and civil initiatives of their environmental responsibilities continue to emerge. With…
Race Bank Offshore Wind Farm Officially Opens
A new offshore wind farm officially opened this week that is capable of powering over half a million U.K. homes.The Race Bank wind farm located off the North Norfolk coast is capable of generating 573 megawatts (MW) of green electricity from its 91 Siemens Gamesa 6 MW wind turbines.
Will LNG Remain a Key Energy Source?
Japan imported 8.3 million metric tons of LNG in January, an increase of 1.06 million metric tons compared to the previous year. The data, released by the Japanese Ministry of Finance, also reveals that the amount the country pays for LNG imports had increased by 6.7 percent since 2015. Japan is one of the largest LNG importers in the world and it is expected that gas and LNG will continue to remain a key energy source in the future.
Kuwait to float Az-Zour North One
Kuwait plans to sell shares in Az-Zour North Independent Water & Power Project to the public in mid-2017, state news agency Kuna reported on Saturday. The Az-Zour North One plant has a capacity of at least 1,500 MW and is structured as a public-private partnership (PPP). The project is 40 percent owned by three partners: France's Engie, Japan's Sumitomo Corporation and Kuwaiti firm AH Al Sagar & Brothers.
China's Shenhua Signs First Coal Trade Deal with Mongolia
China's biggest coal producer, the Shenhua Group, has signed a deal to buy 1.2 million tonnes of high-grade coking coal from Mongolia, a move that could help pave the way for the state-owned firm to invest in one of Mongolia's biggest mines. China's State-Owned Assets Supervision and Administration Commission (SASAC) said in a notice posted late on Friday that the transaction signed by Shenhua's…
Ithaca's Robust Performance FY 2014
Ithaca Energy Inc. announces its financial results for the twelve months ended 31 December 2014, together with the results of its independently assessed year-end reserves assessment and an operations update. Les Thomas, Chief Executive Officer, commented, “In 2014 we took significant steps to build and strengthen our business, growing production and reserves, while diversifying our debt structure.
Ithaca Energy Q3-2014 Operations Update
Ithaca Energy Inc. provides an operations update following the end of the third quarter of the year (“Q3-2014”). The Company will issue its Q3-2014 financial results on 13 November 2014. Average pro-forma production in Q3-2014 was approximately 11,600 barrels of oil equivalent per day (“boepd”), 96% oil. Average pro-forma production in Q3-2014 was approximately 11,600 boepd, reflecting a full quarter’s production from the assets acquired from Sumitomo Corporation (the “Summit Assets”).
Ithaca Energy Acquires three UK Oil Fields
Ithaca Energy Inc. is pleased to report that, further to the announcement made on 23 June 2014, it has now completed the acquisition of the three UK producing oil field interests from Sumitomo Corporation (“Sumitomo”). Ithaca has acquired Summit Petroleum Limited (“SPL”), a subsidiary company of Sumitomo, which holds the Cook (20.00%), Pierce (7.48%) and Wytch Farm (7.43%) field interests that have been acquired.
