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Fortescue secures RMB14.2bn loan to revive green energy plans

Diverse Australian mining-come-energy company Fortescue has secured a RMB14.2bn (US$1.98bn) loan in order to get its decarbonisation agenda back on track. The loan, the first RMB-syndicated term loan of its kind by an Australian corporate, was secured from leading Chinese, Australian and international lenders. Fortescue is a core supplier of iron ore to China and generates RMB revenues through its iron ore sales. Dr Andrew Forrest, Executive Chairman, said while the US steps back from investing “in what will be the world’s greatest industry”, China and Fortescue are advancing the green technology needed to lead the global green industrial revolution. “China continues to lead the world in industrial scale and innovation,” he said. Fortescue has cancelled two green hydrogen projects in the US and Australia, despite both having passed final investment decision (FID), citing shifting… Read More »Fortescue secures RMB14.2bn loan to revive green energy plans

Chiyoda building third tank for compatriot’s LNG terminal

Japanese engineering company Chiyoda Corporation has won an engineering, procurement, and construction (EPC) contract with compatriot Saibu Gas for an additional tank at the latter’s liquefied natural gas (LNG) facility near Kitakyushu, Japan. The post Chiyoda building third tank for compatriot’s LNG terminal appeared first on Offshore Energy.

Grimaldi welcomes second ammonia-ready car carrier

Italy’s shipping player Grimaldi Group has taken delivery of the second ammonia-ready pure car and truck carrier (PCTC), Grande Tianjin. The post Grimaldi welcomes second ammonia-ready car carrier appeared first on Offshore Energy.

$35B Egypt gas export deal ‘largest’ in Israel’s history

Israel’s NewMed Energy and its partners in a gas project in the Mediterranean Sea have signed an amended agreement with Egypt’s Blue Ocean Energy (BOE) to significantly expand the export of natural gas from Israel to Egypt. The post $35B Egypt gas export deal ‘largest’ in Israel’s history appeared first on Offshore Energy.

Statkraft advances plan for UK green hydrogen and ammonia project | Hydrogen

Norwegian state-owned power group Statkraft has obtained a land lease for its planned 400 MW green hydrogen and ammonia production facility in the Shetland Islands, UK. The Shetland Hydrogen Project 2 will use green hydrogen to produce green ammonia to be used in applications such as marine fuel and fertiliser production. It will be built at the disused Scatsta airport near the Sullom Voe oil terminal and the Shetland Gas Plant. The site will convert excess renewable electricity into hydrogen during periods of grid constraint, according to Statkraft. “This scheme offers an opportunity to combine Shetland’s renewable resources with innovative technology,” said Stuart Marley, Principal Hydrogen Project Manager at Statkraft. The company plans to take advantage of the Shetland’s ample renewable resources with three wind farms currently in pre-construction: Mossy Hill near Lerwick, and Energy… Read More »Statkraft advances plan for UK green hydrogen and ammonia project | Hydrogen