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(epbr) The British oil company bp signed a Memorandum of Understanding (MoU) with the government of Ceará to study the construction of a production plant for green hydrogen and derivatives, such as green ammonia, in the Industrial and Port Complex do Pecém (CIPP). This is the 36th memorandum signed between the state government and national... Continue Reading →
(OM) A major capex shift from North America to international markets has been ongoing since early 2023, according to Evercore ISI’s latest Offshore Rig Market Snapshot. This trend has been concurrent with low natural gas prices in the US, which has prompted a number of rigs to out into international markets. Combined with attractive offshore... Continue Reading →
(OET) LNG project developer Mexico Pacific has signed a third long-term sales and purchase agreement (SPA) with ExxonMobil LNG Asia Pacific for an additional 1.2 million tonnes per annum (mtpa) of LNG from Train 3 of Mexico Pacific’s Saguaro Energia project located on the west coast of Mexico. With this agreement, ExxonMobil exercised the option... Continue Reading →
(Reuters) - Developers of renewable energy projects selling unused U.S. tax credits to other companies now account for a market worth between $7 billion and $9 billion, buoyed by legislation in 2022 that made these trades possible, a new study shows. President Joe Biden's climate law aimed to stoke trillions of dollars of investment to wean the economy off... Continue Reading →
(OET) Italian transmission system operator (TSO) Terna has launched a project in cooperation with U.S. startup Terradepth focused on testing innovative approaches to surveying the seabed for planning environmentally friendly submarine electrical connections. As part of Project Odisseo, the first test was conducted off the coast near the port of Casamicciola Terme, on the island... Continue Reading →
(OW) Rhode Island Senator Sheldon Whitehouse has released a draft version of a bill that would streamline the offshore wind development process and get new sources of affordable clean energy on the grid. Senator Whitehouse requests feedback on his bill from all stakeholders, including federal, state, and local agencies, industries, developers, and communities. The Senator... Continue Reading →
Philip Lewis, Contributor (OE) As we enter a New Year, the memories of the shocks to the foundations to the U.S. offshore wind segment remain fresh. In short, supply chain inflation and capacity/availability, interest rate increases, and tax credit monetization have been the key themes highlighted by developers to explain why many projects became commercially unviable.... Continue Reading →
(Reuters) - Canadian pipeline company Enbridge (ENB.TO) is keen on further offshore wind investments in France, but will avoid the United States, where cost and supply chain problems have contributed to offshore projects collapsing, a senior executive said. Rising costs have led to canceled projects in the U.S. and Britain while putting others at risk. The setbacks... Continue Reading →
(OW) RWE has released the official name of its floating wind project in California and revealed that the company will open an office in the city of Eureka in early 2024. The project, named Canopy Offshore Wind Farm (Canopy), is being developed at a site located 45 kilometres (28 miles) off the coast of Humboldt... Continue Reading →
(OW) The US Bureau of Ocean Energy Management (BOEM) has launched a public consultation on the potential development of six wind lease areas offshore New York and New Jersey, in an area known as the New York Bight. In February 2022, BOEM held an auction that brought in over USD 4.3 billion for the rights... Continue Reading →
