SolarinBlue has launched its first floating offshore solar power plant in the Mediterranean. Specially designed for the maritime environment, they will supply the port of Sète-Frontignan (34) with renewable electricity. This new technology is ahead of offshore wind power and is part of the decarbonization strategy of the port of Sète. SolarinBlue aims to be the world leader in floating offshore solar PV. First floating offshore solar power plant in the Mediterranean The technology startup SolarinBlue has launched the first two units of its Sun’Sète project in the Mediterranean. They are specia ..read more

Repsol abandons its LNG terminal. The company announced last week that it was abandoning plans to develop a liquefied natural gas (LNG) terminal on Canada’s east coast. According to the company, the costs ofshipping gas to the terminal were simply too high to make the project profitable. The project was intended to supply European markets with liquefied natural gas, offering an alternative to Russian gas, after the invasion of Ukraine. The LNG export terminal was to be located in Saint John, New Brunswick. The LNG terminal, an uneconomic project Unfortunately, transporting the gas from western ..read more

An investigation into rising natural gas prices has been announced by the California Public Utilities Commission (CPUC). This investigation concerns the December 2022 spike in natural gas prices, which resulted in higher utility bills for customers. Natural gas prices rise in December Natural gas prices spiked in wholesale markets in December 2022 in major trading centers in the western United States due to cold weather, high demand and supply issues. Daily spot natural gas prices outperformed all other U.S. markets, including the benchmark. Daily spot natural gas prices hit a record high The ..read more

A European hydrogen pipeline network is about to be created. A DNV consultancy study commissioned by German pipeline operator Gascade indicates that investments of €15-22 billion could buy a new hydrogen pipeline network 4,200 kilometers linking six European countries, namely Germany, Belgium, Great Britain, Denmark, Norway and the Netherlands. This network could transport up to 300 terawatt-hours (TWh) per year ofclean hydrogen produced from offshore wind energy in the North Sea, meeting 15% of the synthetic fuel demand that theEuropean Union is forecasting for the year 2050. A European hydro ..read more

For the acquisition of Siemens Gamesa, Siemens Energy announced that it has raised €1.259 billion ($1.33 billion) through the sale of new shares. The purpose of this operation is to finance the acquisition of the entire wind turbine manufacturer Siemens Gamesa, which Siemens Energy did not yet own. The context of the Siemens Gamesa takeover bid by Siemens Energy Siemens Energy had launched a takeover bid for the remaining stake it did not yet own in Siemens Gamesa last November. The bid was prompted by several profit warnings in the Siemens Gamesa division, which had also become a problem for ..read more

Transportation costs for crude oil purchased by Indian refiners have exceeded the cap set by Western countries and Australia, according to a U.S. official. Transportation costs have increased as oil has moved greater distances to Asian markets rather than to Europe, which prohibits most Russian seaborne cargoes. Some Russian traders and energy companies are seeking non-dollar payments for certain niche grades of Russian oil. The cap has helped reduce Russian energy tax revenues by 42% since last February. With transportation costs, crude oil shipments exceed the ceiling set by Western countrie ..read more

According to OPEC+, the fall in oil prices is due to financial fears and not to an imbalance between supply and demand. Four OPEC+ delegates told Reuters that the organization expects the market to stabilize. Crude fell to a 15-month low on Wednesday, with Brent crude below $72 a barrel, on concerns about the contagion of a banking crisis. However, crude stabilized on Thursday after Credit Suisse received a financial lifeline from Swiss regulators. A “purely financial” drop in oil prices according to OPEC+. OPEC+ delegates said the price drop is “purely financial and has nothing to do with oil ..read more

As part of the debate on nuclear energy in Europe, seven European Union countries recently wrote a letter to Sweden, which holds the rotating EU presidency, asking that the EU’s renewable energy targets remain free of non-renewable energy sources. These countries include Austria, Denmark, Germany, Ireland, Luxembourg, Portugal and Spain. France, which has historically relied on nuclear power for 70% of its electricity, is pushing to include nuclear power in the EU’s renewable energy targets. The debate on low-carbon hydrogen from nuclear energy The EU is negotiating more ambitious targets for ..read more

The sale of JBM Solar to RWE was announced by Susgen. With a pipeline of 6.1 gigawatts (GWac), divided into 3.8 GWac of solar projects and 2.3 GWac of co-located battery storage projects, JBM Solar is the largest independent solar and battery storage developer in the UK. Management reaction to the sale of JBM Solar Commenting on the transaction, Susgen CEO Joseph Pillai saidWe are delighted for the JBM team, and wish them every success in the next chapter of their exciting story with RWE. Susgen is proud to have contributed to the development of a solar and battery pipeline that will deliver a ..read more

Petronas’ gas business in 2022 grew strongly, capitalizing on the benefits of gas despite increased market volatility. The company also plans togrow its LNGbusiness by serving both its core customers and exploring new emerging markets. Record prices for Petronas’ gas business in 2022 Petronas chairman and group CEO Tengku Muhammad Taufik told a news conference that the company had been able to offer prices of up to 90 to 100/MMBtu at one point, and that each cargo delivered could make or break utilities. LNG prices in Asia averaged 33.98/MMBtu in 2022, compared to 18.60/MMBtu in 2021. Taufik e ..read more