London-based INEOS Energy has signed a long-term agreement with U.S. energy company Kinetik Holdings, under which the latter will supply natural gas to Europe. The post INEOS turns to US gas to bolster Europe’s supply resilience appeared first on Offshore Energy.
India should adopt Japan’s contracts-for-difference (CFD) model to help make green hydrogen projects bankable and accelerate final investment decisions, according to Amrit Singh Deo, Senior Managing Director at FDI Consulting and advisor to the India Hydrogen Alliance (IH2A). Speaking on a gasworld/H2 View webinar, he explained that the bottleneck in projects reaching FID is not due to lack of demand, but bankability. “The answer is simple, it’s offtake – guaranteed [long-term] offtake,” he said. “Without offtake guarantees, no project is going to be bankable.” IH2A has recommended that India’s government adopt Japan’s CFD framework to overcome this financing barrier. CFDs are long-term contracts where a public agency compensates producers when market prices fall below fixed strike price, providing guaranteed revenue. “We’ve asked the Government of India to actually replicate the Japanese CFD model,” he said.… Read More »India urged to adopt Japan’s CFD model to unlock green hydrogen
Air Products believes it could still proceed with its paused $4.5bn blue hydrogen plant in Louisiana, US, according to its CEO. Speaking during the industrial gas firm’s Q4 results, Eduardo Menezes said although the development would not go ahead without an offtake agreement, there may be a way to make the project bankable. The Louisiana development was announced in 2021 with plans to produce up to 1,700 tonnes of blue hydrogen per day and convert it into ammonia. Investors viewed the project as risky because of speculative offtake agreements and Air Products’ plan to retain responsibility for CCS and ammonia synthesis. After Menezes became CEO earlier this year, Air Products paused spending on the development in May as it explored options to de-risk it by firming up offtake and looking to offload the CCS and… Read More »Air Products sees potential path forward for paused Louisiana blue hydrogen project | Air Products News
Classification society American Bureau of Shipping (ABS) and the Korean Agency for Technology and […] The post US-South Korean partnership seeks to ‘streamline’ smart vessel technologies appeared first on Offshore Energy.
Preliminary seismic and geotechnical surveys of the seabed have been completed at the Baltic […] The post Preliminary seabed surveys completed at Orlen’s Baltic East site offshore Poland appeared first on Offshore Energy.
Australia’s Port of Newcastle has appointed German port and logistics consultancy HPC Hamburg Port Consulting to develop a final business case for its Clean Energy Precinct (CEP) project. The post Port of Newcastle taps HPC to drive Clean Energy Precinct project forward appeared first on Offshore Energy.
Venture Global, a U.S. producer of liquefied natural gas (LNG) sourced from North American basins, has executed a liquefied natural gas (LNG) sales and purchase agreement (SPA) with Atlantic-See LNG, a newly formed joint venture between Greek companies AKTOR and DEPA. The post Venture Global boosting Greece’s energy security with long-term LNG supply appeared first on Offshore Energy.
Bosch has commissioned its first in-house electrolyser using its own PEM stacks as it looks to capitalise on its hydrogen investments. The German technology major said the 2.5MW system, installed at its Bamberg plant, could produce up to one tonne of hydrogen per day, using renewable electricity. The containerised system, built by Schmidt Kranz Group-owned Fest, uses two of Bosch’s self-made 1.25MW Hybrion stacks, which it officially launched in April this year. Bosch will operate the system at the Bamberg site, where hydrogen will be used to conduct endurance testing on its fuel cell modules for trucks, with power generated by the fuel cells fed back into the electrolyser. Bamberg will also host a test station for the Hybrion stacks for factory acceptance testing before delivery to customers. It said deliveries have already been made to firms… Read More »Bosch begins in-house hydrogen production using own PEM stacks | Hydrogen
AET has awarded shipbuilding contracts to South Korea’s Samsung Heavy Industries (SHI) for two LNG dual-fuel Suezmax tankers. The post AET orders LNG dual-fuel Suezmax duo appeared first on Offshore Energy.
Air Liquide, CentraleSupélec, ITP Interpipe, Nexans, and RTE have joined forces to develop a […] The post French companies unite on superconducting cable project for distant offshore wind farms appeared first on Offshore Energy.