NKT has disclosed the name of its third cable extrusion tower, which is being built at its high-voltage power cable factory in Karlskrona, Sweden. The post NKT’s 200-meter-long power cable extrusion tower gets its name appeared first on Offshore Energy.
Seeking to “modernize” its operations further, the Panama Canal Authority (ACP) has rolled out […] The post Panama Canal debuts electronic ship registry system appeared first on Offshore Energy.
Over 100 million full-time equivalent jobs are sustained by the global ocean economy, with tourism and Asia-Pacific leading the charge, data provided by the Organisation for Economic Co-operation and Development (OECD) shows. The post OECD: Ocean economy sustains more than 100 million jobs appeared first on Offshore Energy.
Air Products has said the ballooning costs and project slip on its planned net-zero hydrogen energy complex in Alberta in Canada, first announced in 2021, is in part down to “self-inflicted” project management failures. Speaking on the company’s Q2 earnings call today, where the company posted a $1.7bn loss after taking up to a $3.1bn write-down on three abandoned projects, new CEO Eduardo Menezes said the “tremendous increase” in capital costs on the project was “unforgivable” and reflected the project hitting some avoidable roadblocks. “When you have a project that gets out of sequence … you start losing windows [of opportunity] in terms of weather and how to execute the project. “Then you have very low productivity from contractors, and they are expensive to start with, [and] so you get in this spiral” of problems… Read More »Air Products CEO bemoans ‘self-inflicted’ failures on delayed Alberta project | deploy auto-thermal reforming technology
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Air Products has said more about its logic for deciding which underperforming hydrogen projects to cancel and which to pursue. The recently installed CEO Eduardo Menezes said on Thursday’s Q2 earnings call that the company was mindful of the way that delivering a project would impact its cash flow, while also considering project-related commercial commitments to customers. “You know, we take [our customer commitments] very seriously,” he said. He said where there were no customer contracts in the frame, and the company had more freedom, Air Products looked at what spend was needed to finish a project, and the cash flow that would be generated. … to continue reading you must be subscribed Source link
Golar LNG has gotten hold of two multibillion-dollar assignments related to a proposed liquefied natural gas (LNG) large-scale upstream and midstream integrated gas development project, estimated to be worth $50 billion, in the Sierra Grande Norte, on the South American country’s Atlantic coast. The post $13.7 billion deals for $50B South American LNG project put into Bermuda firm’s hands appeared first on Offshore Energy.
Algoma Endeavour, a final Equinox class vessel built for Canadian shipping company Algoma Central Corporation, recently made a stopover at the Port of Montreal to complete its reflagging process. The post Algoma Endeavour raises Canadian flag for the 1st time at Montreal Port appeared first on Offshore Energy.
Dutch shipbuilder Damen Shipyards Group has received a contract to construct new tugs for Hamburg-based tugboat operator Fairplay Towage under its ongoing fleet renewal program. In addition, Damen signed a contract with Neue Schleppdampfschiffsreederei Louis Meyer. The post Damen secures new tug order from Fairplay Towage appeared first on Offshore Energy.
The winds of change are still gathering speed as they blow across the global energy industry, but they have not managed to dislodge oil and natural gas from their top spots in the energy mix. These fossil fuels, alongside LNG, are still keeping their finger on the pulse of the worldwide energy security lifeforce as vital signs of strength in countries’ energy flows. The post Oil, gas, and LNG weaving energy security web appeared first on Offshore Energy.