(Editors at Energy Analytics Institute, 6.Jan.2025) — Equinor said the Troll field in the North Sea produced more natural gas than ever before in 2024, while at the same time significantly reducing CO2 emissions. The Troll field set a historic production record, delivering 42.5 billion standard cubic meters of gas […]
Category: Europe
Europe energy
![EAI’s 4Q:24 NRG Prospector condensed version [emagazine download]](https://energy-analytics-institute.org/wp-content/uploads/2025/03/EAI-4Q24-NRGProspector_h.png)
EAI’s 4Q:24 NRG Prospector condensed version [emagazine download]
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 1.Jan.2025) — Download the 4Q:24 NRG Prospector eMagazine with updates, analysis, features, briefs and “heard on the street” from Argentina, Brazil, Bolivia, Canada, Chile, Colombia, Ecuador, Guyana, Mexico, Suriname, Trinidad and Tobago, the US and Venezuela, as well as Asia, Europe and Africa […]
Stena RoRo Takes Delivery of E-Flexer Hybrid Vessel Guillaume de Normandie
(Stena RoRo, 23.Dec.2024) — Stena RoRo has taken delivery of E-Flexer No. 12 – in a series of 15 vessels – from the Chinese shipyard CMI Jinling (Weihai). The ship is the Guillaume de Normandie (not shown here) and is long-term chartered to the French shipping company Brittany Ferries. In […]
Equinor Finalizes Purchase of 10% Shareholding in Ørsted A/S
(Energy Analytics Institute, 23.Dec.2024) — Norway’s Equinor completed its acquisition of a 10% shareholding in Ørsted A/S as previously announced on 7 Oct. 2024. Following approvals under applicable Foreign Direct Investment regulations, Equinor has purchase an additional 0.2% shareholding (corresponding to 840,764 shares) in Ørsted, the Norwegian company announced 23 […]
SBM Offshore to Divest Share in Floventis to Cierco
(Energy Analytics Institute, 20.Dec.2024) — SBM Offshore reached an agreement with Cierco Energy to divest all of its shares in Floventis Energy Ltd. SBM Offshore has acquired valuable knowledge through its partnership to develop the Llyr projects in the UK and the Cademo project in the US, the company said […]
EDP Awarded 160MW of Capacity Contracts for its First Storage Projects in Poland
BATON ROUGE, LOUISIANA (Steve Stewart, Energy Analytics Institute, 20.Dec.2024) — EDP Renewables was awarded with 160MW of capacity contracts for its first storage projects in Poland. These BESS projects have been granted in the latest capacity market auction and will deliver over 640 MWh of energy. The contracts are for […]
Fugro Reveals €400mn Financing with Relationship Banks
(Energy Analytics Institute, 18.Dec.2024) — Fugro NV announced a new €400mn financing on improved terms with its relationship banks, consisting of a €100mn term loan and a €300mn revolving credit facility. The term loan and revolving credit facility are both unsecured and have a 5-year maturity, plus options to extend […]
INEOS to Led Greensand CCS Project in the EU
(Energy Analytics Institute, 14.Dec.2024) — INEOS, the day to day operator, of ‘Greensand Future’ and its partners, Harbour Energy, and Nordsøfonden announced the final investment decision (FID) to safely and permanently store carbon dioxide (CO2) from Danish emitters in a depleted oil field in the Danish North Sea. With the […]
Incremental LNG Demand Moved from Europe to Asia
(Energy Analytics Institute, 11.Dec.2024) — Incremental demand to-date in 2024 for LNG has moved from Europe to Asia, according to recent data from Kpler. Of the total year-to-date LNG trade of 376 million tons (Mt) between Jan.-Nov. 2024, the top importing countries are JKT (Japan, South Korea and Taiwan) with […]
S&P Global Publishes its Energy Outlook 2025
(S&P Global, 11.Dec.2024) — Analysts at S&P Global Commodity Insights, the leading independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities and energy transition markets, today released their 2025 energy outlook. As the calendar turns to 2025, there is more uncertainty in energy markets heading […]
Equinor Says Start-up Nears for Johan Castberg Field
(Energy Analytics Institute, 10.Dec.2024) — Equinor and its partners Vår Energi and Petoro expect the Johan Castberg field to come on stream in Jan./Feb. 2025. The Johan Castberg floating production, storage and offloading vessel (FPSO) was anchored on the field in the Barents Sea in Sep. 2024. The FPSO has […]
TotalEnergies to Pay €1.57bn for German Renewable Project Developer VSB
(Energy Analytics Institute, 4.Dec.2024) — TotalEnergies signed an agreement with Partners Group, one of the largest firms in the global private markets industry, to buy VSB Group, a Germany based renewable energy project developer for a consideration of €1.57bn, equity value and shareholder loan. The deal strengthens TotalEnergies Integrated Power […]
Saverex to Launch Voluntary Takeover Bid for Exmar
(Exmar, 3.Dec.2024) — Saverex NV intends to launch a voluntary and conditional public takeover bid for all shares of Exmar NV not already owned by it or persons affiliated with it. The bid would be made in cash at a price of EUR 11.50 per share. This price represents a […]
Petrobras Inks HOA with Danish Company
(Energy Analytics Institute, 27.Nov.2024) — Petrobras signed a Heads of Agreement (HOA) with the Danish company European Energy—which develops, builds and operates renewable energy assets, including solar and wind generation projects, as well as green hydrogen-based solutions—to structure a business partnership to implement a commercial-scale e-methanol plant in Brazil. The […]
TotalEnergies Accelerates Decarbonization at La Mède
(TotalEneriges, 25.Nov.2024) — In line with its 2030 ambition to decarbonize the hydrogen used in its European refineries, TotalEnergies has joined forces with Air Liquide to produce renewable hydrogen at La Mède in southeast France. This new project complements the Masshylia project to produce green hydrogen by electrolysis led by […]
Henry Hub, JKM and TTF Inch Higher
(Energy Analytics Institute, 21.Nov.2024) — The Henry Hub spot price rose 24 cents to $2.34 per million British thermal units (MMBtu) on 20 Nov. 2024 compared to $2.10/MMBtu on 13 Nov. 2024, according to the US-based Energy Information Administration (EIA). The weekly average front-month futures prices for liquefied natural gas […]
Eni Launches New HPC6 Supercomputer
(Eni, 19.Nov.2024) — Eni announces the completion and launch of a new supercomputing system (High Performance Computing – HPC) HPC6. HPC6 provides a significant increase in computational power to a peak of 606 PFlop/s, or over 600 quadrillion mathematical operations per second. The system has achieved a debut ranking of No.5. […]
Equinor Brings on Deepsea Bollsta Rig
(Energy Analytics Institute, 18.Nov.2024) — Norway’s Equinor has awarded a two-year firm contract to Northern Ocean Wind AS to employ the mobile rig Deepsea Bollsta on the Norwegian continental shelf. The value of the contract for the firm period is calculated to be around $335mn, with planned start-up in the later part […]
Equinor Announces Ex. Dividend
(Energy Analytics Institute, 18.Nov.2024) — Equinor ASA announced a second quarter 2024 (2Q:24) ex. dividend second quarter. Shares of Equinor, effective 18 Nov. 2024, will be traded on Oslo Børs exclusive of the 2Q:24 cash dividend as detailed below. —Ex. date: 18 Nov.2024 —Ordinary cash dividend amount: $0.35 —Extraordinary cash dividend […]
Equinor Finds Oil and Gas in the North Sea
(Energy Analytics Institute, 15.Nov.2024) — Norway’s Equinor said an exploration well with sidetrack has been drilled about 10 km north of the Troll field in the North Sea where petroleum was struck in both well trajectories. The discovery is estimated to hold between 13-28 million barrels of oil equivalent (MMboe), […]
Fluor-led JV to Proceed for Expansion of Nuclear Plant in Romania
(Fluor, 15.Nov.2024) — Fluor Corporation announced that its joint venture (JV) has received a limited notice to proceed (LNTP) for the design phase of Units 3 & 4 at the Cernavoda Nuclear Power Plant in Romania. EnergoNuclear S.A., a subsidiary of SN Nuclearelectrica S.A., signed the contract during a ceremony […]
ARX: An Adventure in the World of Engineering and Design
(Pini Group, 14.Nov.2024) — By expanding its expertise and integrating several complementary competencies through both organic growth as well as mergers and acquisitions over the last few years, Pini Group has undergone a significant evolution, transforming into a new entity. This growth and diversification have turned the group into a […]
Paratus Successfully Uplists to Euronext Oslo Børs
(Energy Analytics Institute, 13.Nov.2024) — Paratus Energy Services Ltd.‘s shares have been transferred from Euronext Growth Oslo and admitted to trading on Oslo Børs under the same ticker as on the Euronext Growth Oslo, “PLSV”. The action is effective on 13 Nov. 2024, Parts announced 13 Nov. 2024 in an […]
EXMAR Reports 3Q:24 Results, Opens EXMAR LPG France (PDF Download)
(EXMAR, 8.Nov.2024) — EXMAR NV reported its third-quarter 2024 results and provided an operational update related to the company opening a new French entity, EXMAR LPG France, which will own and operate 6 newbuild dual fuel LPG/NH3 Midsize Gas Carriers (MGC), being constructed at HMD MIPO dockyard in Korea. ____________________
Bristow and Leonardo Finalize Agreements for AW139 and AW189 Helicopters
(Bristow, 6.Nov.2024) — Bristow Group Inc. and Leonardo finalized a series of long-term agreements that will enhance global fleet support and training for the AW139 and AW189 helicopters, extending into the next decade. These agreements reinforce the strong relationship between the two companies and provides continued support for operations in […]
TotalEnergies Energy Outlook 2024 (PDF Download)
(TotalEnergies, 4.Nov.2024) — To contribute to the public debate on the energy transition, TotalEnergies is publishing the 6th edition of its “TotalEnergies Energy Outlook”, which presents three scenarios for the possible evolution of the demand and the global energy system up to 2050 (documents available at this link). TotalEnergies Energy […]
TotalEnergies to Supply 2 mtpa of LNG to Sinopec for 15 Years
(Energy Analytics Institute, 4.Nov.2024) — TotalEnergies signed a sales agreement (HoA) with Sinopec for the delivery of 2 million tonnes per annum (mtpa) of LNG for 15 years, starting in 2028. With the agreement, TotalEnergies strengthens its long-term position in the LNG market in China, the largest market in the […]
SACE and Open-es to Boost Competitiveness of Italian Companies
(Eni, 4.Nov.2024) — SACE and Eni announced a strategic partnership to promote synergies through the Open-es alliance. The aim of the agreement is to strengthen support for Italian companies, especially SMEs, in their growth journey by combining sustainability and competitiveness. This includes the integration of the Open-es and SACE ESG […]
TGS and Aquila Complete Utsira OBN Reprocessing Project
(Viridien, 4.Nov.2024) — Viridien and its partners TGS and Aquila Holdings ASA (under its subsidiary Axxis Multi-client AS) announced completion and delivery of the reprocessing of the Utsira ocean bottom node (OBN) seismic survey in the Norwegian North Sea. The reprocessing project has received significant industry support and leverages strong […]
Aker Reports 3Q:24 Results, Updates on Renewable Projects (PDF Download)
(Aker Horizons, 1.Nov.2024) — Aker Horizons ASA announced results for the third quarter 2024. Aker Horizons’ net capital employed stood at NOK 6.1bn, a decrease of NOK 1bn from the second quarter, mainly driven by impairments in Mainstream. The company reported a cash position of NOK 3bn and an undrawn […]
TotalEnergies Reports 3Q:24 Results, Output of 2.41 MMboe/d (PDF Downloads)
(TotalEnergies, 31.Oct.2024) — TotalEnergies SE reported its third quarter 2024 (3Q:24) results, including upstream production of 2.41 MMboe/d. Production benefited from the ramp up of Mero 2 in Brazil that partially offset production losses at Ichtys LNG and in Libya. ____________________
Seaway7 Awarded Offshore Wind Contract in UK
(Energy Analytics Institute, 30.Oct.2024) — Subsea7 announced the award to Seaway7, part of the Subsea7 Group, of a substantial contract by Ørsted for the transport and installation of the inter-array cables of the Hornsea 3 offshore wind project located in the UK sector of the North Sea. Subsea7 defines a […]
Eni Reports 3Q:24 Financial Results (PDF Downloads)
(Eni, 25.Oct.2024) — Eni‘s Board of Directors, chaired by Giuseppe Zafarana, yesterday approved the unaudited consolidated results for the third quarter and nine months of 2024. Eni CEO Claudio Descalzi said: “In Q3, by delivering a performance ahead of expectations, we have again demonstrated the resilience of our business model […]
Eni Set Outs Decarbonization and Relaunch Plan for Versalis
(Eni, 24.Oct.2024) — As first announced at the presentation of its 2024-2027 Strategic Plan, Eni has finalized its transformation and relaunch plan for its chemicals business, also as part of its decarbonization path. The transformation plan involves about €2bn of investment and aims to reduce emissions by approximately 1 million […]
Eni Inks Deal for KKR to Enter Enilive’s Share Capital
(Eni, 24.Oct.2024) — Eni and KKR have signed an agreement under which KKR will take a 25% stake in Enilive’s share capital, for a total agreed consideration of €2.938bn. The transaction will be funded through: 1) the subscription of a capital increase in Enilive reserved to KKR amounting to €500mn; 2) […]
Eni’s BODs on Distribution to Shareholders
(Eni, 24.Oct.2024) — Eni’s Board of Directors, chaired by Giuseppe Zafarana, resolved to distribute to shareholders the second of the four tranches of the provision in place of the 2024 dividend from Eni S.p.A. available reserves[1] of €0.25 (compared to a total annual provision, in place of the dividend, equal […]
Equinor to Begin 4th tranche of share Buy-Back for 2024
(Equinor, 23.Oct.2024) — Equinor will on 25 Oct. 2024 commence the fourth and final tranche of up to $1.6bn of the share buy-back programme for 2024, as announced in relation with the third quarter results 24 Oct. 2024. In this fourth tranche, shares for up to $528mn will be purchased […]
Equinor Reports 3Q:24 Total Equity Production of 1,984 Mboe/d
(Equinor, 23.Oct.2024) — Equinor delivered adjusted operating income* of $6.89bn and $2.04bn after tax in the third quarter of 2024. Equinor reported net operating income of $6.91bn and net income at $2.29bn. Adjusted net income* was $2.19bn, leading to adjusted earnings per share* of $0.79. Financial and operational performance Strategic […]
Bureau Veritas Reports Strong 3Q:24 Organic Revenue Growth
(Bureau Veritas, 23.Oct.2024) — France-based Bureau Veritas provided an update of its third-quarter 2024 financial and operations details. Hinda Gharbi, Chief Executive Officer, commented: “We continued the execution of our LEAP |28 strategy in the third quarter, and we are actively managing our portfolio. We have completed three acquisitions, representing […]
Smoke Development on the Sleipner B Platform
(Equinor, 22.Oct.2024) — Equinor announced that the emergency vessels Skandi Mongstad and Esvagt Bergen have used seawater to cool down the Sleipner platform from a distance during the day. The vessels will remain stationed outside the unmanned Sleipner B platform and monitor the situation for as long as necessary. A […]
EU Backs CCUS Project at Cemex’s Rüdersdorf Cement Plant
(Cemex, 22.Oct.2024) — A consortium comprised of Cemex and Linde, a global industrial gases and engineering company, has been selected to receive €157mn in funding from the EU Innovation Fund for a pioneering CO2 capture project at Cemex’s Rüdersdorf Cement Plant in Germany. The project, Cemex’s largest planned Carbon Capture […]
Plenitude Starts Construction of New 220MW Solar Plant in Villarino de los Aires in Spain
(Eni, 17.Oct.2024) — Plenitude has started the construction works in Villarino de los Aires (Salamanca, Spain) of a solar plant, with a future installed capacity of 220 MW, that will be among the largest in Castilla y León. The cornerstone laying ceremony held today was attended by representatives of the […]
Equinor’s 3Q:24 Safety Results
(Equinor, 17.Oct.2024) — Equinor’s overall long-term safety trend continues to move in a positive direction, but the total number of injuries has increased somewhat by the end of the third quarter, measured over the previous twelve months. At the end of the third quarter of 2024 the serious incident frequency […]
Phillips 66 to Divest Interest in Switzerland-based JV for $1.24bn
(Energy Analytics Institute, 14.Oct.2024) — Phillips 66‘s subsidiary, Phillips 66 Limited, entered into a definitive agreement to sell its 49% non-operated equity interest in Coop Mineraloel AG (CMA) to its Swiss joint venture partner. In the deal, it will receive cash of 1.06bn Swiss francs (approximately $1.24bn) consisting of a […]
OPEC’s Al Ghais on Oil Demand Peaking by 2030
(Energy Analytics Institute, 13.Oct.2024) — OPEC Secretary General HE Haitham Al Ghais said that claims around oil demand peaking by 2030, or even dropping by 25%, “are just that – claims.” Al Ghais’ comment was posted 13 Oct. 2024 on X, formerly Twitter, by the organization. Al Ghais also said […]
Green Yard Inks Shipbuilding Deal with OMV Petrom
(Green Yard, 11.Oct.2024) — Green Yard Kleven has signed a shipbuilding contract with the Romanian integrated energy company OMV Petrom S.A. for the construction of a “Field Support Vessel” that will operate for the Neptun Deep project. Neptun Deep is the largest natural gas project in the Romanian Black Sea […]
TotalEnergies Expands Global LNG Bunkering Footprint
(TotalEnergies, 10.Oct.2024) — TotalEnergies signed a charter contract with Spanish shipowner Ibaizabal for a new Liquefied Natural Gas (LNG) bunker vessel of 18,600m3 capacity. This new vessel will expand the Company’s global presence in bunkering hubs. In particular, this additional vessel might be deployed in Oman, where the company is developing […]
TotalEnergies Inks Renewable Supply Deal with Saint-Gobain
(TotalEnergies, 8.Oct.2024) — TotalEnergies has signed with Saint-Gobain a Power Purchase Agreement (PPA), under which TotalEnergies will supply renewable electricity to Saint-Gobain’s French facilities. It will take effect from Jan. 2026 for a total volume of 875 GWh over a period of five years. TotalEnergies will provide Saint-Gobain with a baseload supply of electricity and guarantees of origin for […]
TotalEnergies Joins RWE in Two Offshore Wind Projects
(TotalEnergies, 7.Oct.2024) — TotalEnergies signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in the North Sea. These two projects, N-9.1 (2 GW) and N-9.2 (2 GW), located 110 km off the German coast, were awarded to RWE in Aug. 2024 and have 25-year […]
Saipem Accelerates Research into Geothermal Energy
(Saipem, 7.Oct.2024) — Saipem has signed a Memorandum of Understanding to explore innovative solutions for the development of geothermal energy with Geolog, a company in the evaluation of geological formation and drilling solutions, and Ignis H2 Energy, a company specialized in geothermal resource acquisition, exploration, and development. The agreement is […]