Baker Hughes Company announced Monday it has reached an agreement to sell its Precision Sensors & Instrumentation product line to Crane Company for approximately $1.15 billion in cash.

The transaction involves the sale of PSI, which operates as part of Baker Hughes’ Industrial & Energy Technology segment. The business encompasses well-known brands including Druck, Panametrics, and Reuter-Stokes, which manufacture instrumentation and sensor-based technologies for detecting and analysing pressure, flow, gas, moisture, and radiation across multiple industries.

PSI employs approximately 1,600 people globally across various manufacturing and service facilities. The sale includes all business assets, encompassing intellectual property, physical footprint, and human resources.

The divestiture represents the latest move in Baker Hughes’ strategic portfolio management initiative, following the recently announced Surface Pressure Control transaction. The company has emphasised its focus on value-creating asset optimisation to enhance earnings durability and cash flow generation while enabling capital reallocation toward higher-return opportunities.

“This transaction continues the progress we have made in enhancing our strategic focus on IET’s core competencies of rotating equipment, asset performance management, flow control, and decarbonisation to continue to drive higher returns, reinforcing our commitment to long-term value for our shareholders,” said Lorenzo Simonelli, Baker Hughes chairman and CEO.

Simonelli noted that the transaction value reflects the quality of the divested product lines and their growth potential under new ownership. “We believe the value realised in this transaction is a testimony to these product lines’ quality and the potential they can achieve as part of Crane,” he added.

Crane Company, the acquiring entity, operates as a leading manufacturer of highly engineered components for mission-critical applications. The company serves demanding end markets including aerospace, defense, space, and process industries, making the PSI acquisition a strategic fit for its existing portfolio.

The acquisition is expected to strengthen Crane’s position in instrumentation and sensor technologies while providing Baker Hughes with capital to focus on its core competencies. For Baker Hughes, the transaction aligns with its strategic emphasis on rotating equipment, asset performance management, flow control, and decarbonisation technologies.

The deal remains subject to customary closing conditions, including regulatory approvals. Both companies expect the transaction to close by the end of 2025 or early 2026.

Evercore is serving as financial adviser to Baker Hughes for the transaction.

The announcement comes as energy technology companies continue to optimise their portfolios amid evolving market dynamics and increasing focus on energy transition technologies. Baker Hughes’ strategic repositioning reflects broader industry trends toward specialisation and capital efficiency in the energy services sector.

For more information visit www.bakerhughes.com

XCF Global, Inc., a company focused on developing synthetic aviation fuel (SAF) solutions for the aviation industry’s decarbonisation efforts, commenced trading on the Nasdaq Capital Market today under the ticker symbol “SAFX.”

The public listing follows the completion of XCF’s business combination with Focus Impact BH3 Acquisition Company, which closed on June 6, 2025. The merger marks a significant milestone for the company as it transitions from private to public ownership.

“We’re proud to begin our journey as a public company and to raise awareness to the growing need for low-carbon aviation solutions,” stated Mihir Dange, chief executive officer of XCF Global. “The public listing enables us to accelerate development of our SAF platform and expand production to meet the aviation sector’s growing demand for low-carbon fuel solutions.”

The aviation industry faces mounting pressure to reduce its carbon footprint, with sustainable aviation fuel emerging as a critical component of decarbonisation strategies. Traditional jet fuel accounts for a significant portion of aviation emissions, making the development of low-carbon alternatives increasingly important for airlines and regulatory bodies worldwide.

XCF Global’s entry into the public markets comes at a time when investors and industry stakeholders are showing heightened interest in clean energy solutions for the transportation sector. The company’s SAF technology aims to provide airlines with viable alternatives to conventional jet fuel while maintaining performance standards required for commercial aviation.

“Our public debut aligns with a new era of growing demand and transformative opportunity – a mission that has never been more urgent,” Dange added, emphasising the company’s commitment to addressing climate challenges in aviation.

The successful completion of the SPAC transaction provides XCF Global with additional capital resources to advance its synthetic aviation fuel platform and scale production capabilities. The company plans to leverage its public status to accelerate research and development efforts while building strategic partnerships within the aviation ecosystem.

As the aviation industry continues to seek sustainable fuel alternatives, XCF Global’s public listing positions the company to play a more prominent role in the sector’s decarbonisation efforts. The company’s focus on synthetic aviation fuel development addresses a critical need as airlines work to meet increasingly stringent environmental regulations and sustainability commitments.

For more information visit www.xcf.global

Anaergia Inc., through its subsidiary Anaergia Singapore Pte. Ltd., has been awarded a significant contract by New Jeju Bio Co. Ltd. to design and construct the Jeju Bio Energy Biogas Plant on Jeju Island, South Korea. The total contract is valued at approximately C$40 million, comprising a main agreement worth C$30 million and a supplementary agreement of approximately C$10 million. Project completion is currently targeted for mid- to late-2027, subject to customary conditions including financial close arrangements by the client.

This award builds on the previously announced Letter of Award from September 2024, and reflects both an expanded project scope and increased contract value. The new contract signifies a deepened engagement between Anaergia and New Jeju Bio, underlining Anaergia’s growing footprint in the East Asian market.

Once completed, the facility will process approximately 54,000 tonnes of organic waste annually. This includes material from slaughterhouses and undigested sludge from local sewage treatment operations. The plant will generate approximately two megawatts of renewable energy, which will be used to power a combined heat and power (CHP) system. This system will support multiple operational needs such as digestion, pasteurisation, evaporation, and drying of digestate. The project also includes on-site treatment and recycling of wastewater to meet stringent environmental discharge standards. In doing so, the facility aims to significantly reduce greenhouse gas emissions and advance circular waste management on Jeju Island.

Commenting on the partnership, Sae Hyun Cho, CEO of New Jeju Bio, said: “New Jeju Bio chose Anaergia for this project due to its proven ability to deliver integrated, complex solutions. Throughout the design process, we expanded our use of Anaergia’s technologies to address the diverse organic waste streams generated on Jeju Island and optimally transform them into valuable resources.”

Assaf Onn, CEO of Anaergia, added: “Finalising the contract with New Jeju Bio marks an even more significant achievement than we had previously envisioned. Not only is this a major project in a key new market, but it also highlights how our industry-leading, integrated suite of technologies offers a comprehensive solution for developers seeking innovative, dependable waste-to-energy systems.”

This contract underscores Anaergia’s continued growth and its commitment to delivering sustainable energy and waste management solutions globally.

For more information visit www.anaergia.com

Operational efficiency has become a high-stakes balancing act for finance teams. They are expected to drive cost control and deliver maximum return on investment, while also supporting more agile, forward-thinking ways of working. As a result, the digital tools behind day-to-day operations are facing increasing scrutiny: Which platforms deliver genuine value? Which create silos? And which support scalable, sustainable growth?

The Pitfalls of Fragmentation

Many organisations fall into a common trap: implementing standalone digital tools to address individual departmental challenges. While these “solo solutions” may solve specific problems effectively, they often lack the flexibility to scale or integrate. Over time, a fragmented ecosystem emerges – one where data is trapped in isolated platforms and where finance teams must spend valuable time reconciling mismatched information.

This becomes particularly problematic when finance professionals need to map operational performance to broader KPIs or build cohesive investment narratives. The lack of integration leads to inefficiencies, inaccuracies, and missed opportunities.

Single, Not Solo

The alternative is a “single solution” approach – platforms that are purpose-built for a defined function, but designed to interoperate with broader enterprise systems. These tools can connect seamlessly across departments, enabling shared data flows and consistent reporting. For finance teams, this means clearer oversight, stronger forecasting, and a more complete picture of business performance.

Integrated systems also prove invaluable during key financial events such as refinancing or investment due diligence. Consolidated data, auditable workflows, and traceable insights into asset performance help build trust and confidence with lenders and stakeholders.

Falcker’s Approach: Connected Tools for Financial Clarity

Falcker’s digital solutions – including Site Explorer and Condition Monitor – are built with integration in mind. Designed to connect with existing enterprise platforms, they create a single source of truth for asset integrity, maintenance planning, and inspection workflows.

For finance teams, this translates into greater confidence in forecasting, reduced uncertainty around capital expenditure, and more accurate identification of the root causes behind unplanned costs. By digitising and unifying asset data, Falcker also helps mitigate operational risks – something that investors and insurers increasingly look for when assessing the long-term viability of an asset or operation.

Empowering Finance as Strategic Partners

Finance teams are no longer just gatekeepers of budgets. They are critical strategic partners in operational transformation. By championing technology that integrates effectively, they help create a business environment that is more agile, resilient, and ready to respond to changing market conditions.

The right digital tools won’t solve every challenge – but they can eliminate unnecessary complexity, improve transparency, and provide the confidence needed to plan, invest, and grow. In a world where trust, efficiency, and insight are at a premium, connected solutions are no longer a luxury – they’re a necessity.

For more information visit www.falcker.com

Rotork, a global leader in flow control and intelligent actuation solutions, has officially joined the Rockwell Automation Technology Partner Programme, marking a significant milestone in its expansion within the industrial automation sector.

As part of this collaboration, Rotork’s IQ3 Pro electric actuator, featuring EtherNet/IP™ connectivity, will be included in Rockwell Automation’s Technology Partner product reference catalogue and system design tools. This integration will simplify the specification process for engineers, system integrators, and end users seeking advanced actuation solutions across a wide range of industrial applications.

Andy Filkins, global head of business development at Rotork, commented: “We’re proud to be joining Rockwell Automation’s Technology Partner Programme. This collaboration enhances the visibility of our Ethernet-enabled IQ3 Pro actuator and supports our commitment to delivering smart, connected solutions to customers around the world.”

The partnership spans North America, EMEA, and APAC, reflecting Rotork’s global reach and enabling closer collaboration with Rockwell’s regional teams and customer base. While the IQ3 Pro is the first product to be listed, Rotork plans to expand its presence in the Rockwell partner network as more products in its portfolio gain Ethernet compatibility.

This move underscores Rotork’s continued investment in digital innovation and its commitment to delivering intelligent, reliable, and future-ready flow control technologies to its global customers.

For more information visit www.rotork.com

ATEX may be a familiar term within high-risk industrial sectors, but its full significance is often overlooked beyond those directly impacted. As safety expectations and regulatory pressures continue to evolve, ATEX remains a cornerstone of responsible and compliant operations, especially in environments where potentially explosive atmospheres are present. For companies like EWFM, designing equipment for use in demanding and sensitive conditions means that understanding and adhering to ATEX standards is not just important—it is essential.

In this article, EWFM takes a closer look at what ATEX standards entail and why they play such a critical role in industrial safety. The company also explores how its commitment to compliance supports safer operations and offers peace of mind for customers across the globe.

What Are ATEX Standards and Why Do They Matter?

ATEX, short for ATmosphères EXplosibles, refers to a set of EU directives created to ensure the safe use of equipment and protective systems in environments with a risk of explosion. These standards are fundamental in sectors where flammable gases, vapours, or dusts are present, providing both a legal and practical framework for mitigating risks and protecting lives.

There are two key directives under the ATEX framework:

• Directive 99/92/EC (ATEX 137 or Workplace Directive): Focuses on the minimum health and safety requirements for workers operating in explosive atmospheres.

• Directive 2014/34/EU (ATEX 114 or Equipment Directive): Regulates the design, manufacture, and use of equipment and protective systems intended for explosive environments.

Together, these directives underpin explosion protection protocols across Europe, making compliance not only a legal obligation but a crucial part of safe and responsible industrial practice.

Why ATEX Compliance Matters to EWFM

For EWFM, ATEX standards are more than a regulatory requirement—they are central to the company’s product design philosophy and its broader commitment to safety. Many of EWFM’s products are engineered to meet ATEX compliance, ensuring they function safely in hazardous environments where explosive atmospheres are a constant concern.

This focus is particularly vital in the industries EWFM serves, including Oil and Gas, Chemical Processing, Petrochemicals, and Aviation—sectors where flammable substances pose significant operational risks. For example, EWFM’s loading arms are fully grounded to prevent static build-up and discharge, eliminating a common ignition source.

By embedding ATEX standards into its equipment, EWFM enables its customers to meet stringent safety regulations while enhancing operational reliability, even in the most challenging conditions.

Supporting Safer Operations

Whether it’s an ATEX-rated loading arm filling an oil tanker or other specialist equipment designed for use in explosive atmospheres, EWFM’s solutions are developed with compliance and safety at the forefront. The company encourages operators in ATEX-regulated environments to review their processes and equipment regularly.

With a comprehensive portfolio of ATEX-compliant products, EWFM stands ready to support clients in making their workplaces safer and fully aligned with regulatory expectations.

For more information visit www.ewfm.co.uk

Stolt-Nielsen Limited, through its subsidiary Stolt-Nielsen Gas Ltd., is pleased to announce the successful completion of the compulsory acquisition of all remaining shares in Avenir LNG Limited. This follows the company’s announcement on 5 March 2025 regarding its decision to proceed with the acquisition of shares not already owned by Stolt-Nielsen Gas Ltd.

With this milestone, Avenir LNG is now a wholly owned subsidiary of Stolt-Nielsen Gas Ltd., marking a significant step in consolidating Stolt-Nielsen’s position in the small-scale LNG market.

In line with this development, a request will be submitted for Avenir LNG’s delisting from Euronext N-OTC, with the delisting expected to take effect shortly.

Stolt-Nielsen Limited remains committed to strengthening its energy logistics platform and sees this full ownership as a strategic move to further enhance integration and operational efficiency within its gas division.

For more information visit www.stolt-nielsen.com

Eni’s chief executive officer, Claudio Descalzi, and Horacio Daniel Marín, president and CEO of YPF – Argentina’s state-owned energy company – have signed a Memorandum of Understanding to explore Eni’s participation in the Argentina LNG project. The project, spearheaded by YPF, aims to harness Argentina’s vast gas resources from the Vaca Muerta shale formation and position the country as a global LNG exporter.

The Argentina LNG project is a large-scale, integrated upstream and midstream gas development designed to export up to 30 million tonnes per annum of liquefied natural gas by the end of the decade. The MoU outlines collaboration on the project’s initial phase, which includes the development of upstream gas assets, transportation infrastructure, and two Floating LNG units, each with a capacity of 6 MTPA—totalling 12 MTPA.

Strategic Global Partnership

The partnership reflects YPF’s confidence in Eni’s expertise and track record in delivering complex FLNG projects. Claudio Descalzi, CEO of Eni, stated:
“YPF’s choice of Eni as a strategic partner stems from the specific and distinctive know-how we have developed in FLNG projects in Congo and Mozambique, and from the recognition of our global leadership in implementing projects with this technology.”

Horacio Daniel Marín, president and CEO of YPF, commented:
“We are very pleased to sign this agreement with Eni, which would allow us to accelerate the timeline for the Argentina LNG project. We see great interest worldwide, both from large production companies and from countries seeking to purchase gas from Vaca Muerta.”

This agreement aligns with Eni’s broader strategy to support the energy transition by increasing the share of natural gas in the energy mix while reducing emissions. The company aims to achieve carbon neutrality by 2050, and its participation in Argentina LNG would contribute to enhancing global energy security and competitiveness.

By joining forces, Eni and YPF are setting the stage for a transformative energy project that not only strengthens Argentina’s role in global LNG markets but also supports cleaner energy development on an international scale.

For more information visit www.eni.com

bp, in collaboration with its partners, has signed a series of landmark agreements aimed at expanding its oil and gas portfolio in Azerbaijan, reaffirming its long-standing partnership with the country and its state oil company, SOCAR. These developments were formalised during Baku Energy Week and mark a significant step towards growth, increased production, and emissions reduction in bp’s upstream operations.

Key among the agreements is the final investment decision on the next major phase of the Shah Deniz gas field – Shah Deniz Compression. This world-class gas field plays a vital role in delivering energy to European markets, and the new phase will enable access to additional resources and extend field life and production capacity.

In addition to Shah Deniz Compression, bp has committed to two further projects focused on emissions reduction: terminal electrification and the development of a new solar power project. Together, these initiatives are expected to reduce operational emissions while freeing up additional gas volumes for export.

The agreements also grant bp access to two new exploration and development licences, while enabling the introduction of a new partner to accelerate exploration on a third block. These moves align with bp’s strategy of growing its upstream business and long-term shareholder value, while maintaining its financial discipline.

Gordon Birrell, EVP of production & operations at bp, commented:

“We are deeply proud of the long and successful partnership that bp has built with Azerbaijan over more than 30 years. As can be seen by the agreements we signed this week, we continue to see many opportunities for further development and growth.”

He added:

“The next phase of Shah Deniz will support vital gas supplies to Europe, and our innovative electrification and solar projects demonstrate how bp is lowering emissions while enhancing energy security. We are pleased to continue working closely with SOCAR and other partners to unlock further potential across the region.”

bp has operated in Azerbaijan for 33 years, having led the development of key assets including the Azeri-Chirag-Deepwater Gunashli (ACG) oil field, Shah Deniz, and the Sangachal terminal, as well as associated infrastructure such as the Baku-Tbilisi-Ceyhan (BTC) oil pipeline and the Southern Gas Corridor (SGC) gas network.

The Shah Deniz Compression project is one of bp’s 8–10 major global developments scheduled for start-up between 2028 and 2030. It is expected to contribute to the company’s aim of increasing upstream production to 2.3–2.5 million barrels of oil equivalent per day by 2030, with additional growth potential through to 2035.

TotalEnergies has signed a Heads of Agreement with Energía Natural Dominicana, a joint venture between AES Dominicana and Energas, for the supply of 400,000 tonnes of liquefied natural gas annually to the Dominican Republic. The agreement, subject to the finalisation of definitive Sale and Purchase Agreements, is scheduled to begin in mid-2027 and will run for a period of 15 years. Pricing under the contract will be indexed to Henry Hub.

This strategic agreement is set to support ENADOM’s supply of natural gas to a new 470 MW combined-cycle power plant currently under construction in the country. Once operational, the plant will enhance the Dominican Republic’s electricity generation capacity while advancing the country’s efforts to transition towards cleaner energy sources.

The project forms a key part of the Dominican Republic’s broader energy transition strategy by reducing its reliance on coal and fuel oil in favour of natural gas — a less carbon-intensive alternative. The introduction of additional LNG volumes through this agreement further strengthens the nation’s energy security and environmental sustainability.

Commenting on the agreement, Gregory Joffroy, senior vice president LNG at TotalEnergies, said:“We are pleased to have signed this agreement to answer, alongside AES and its partners, the energy needs of the Dominican Republic. This new contract underscores TotalEnergies’ leadership in the LNG sector and our commitment to supporting the island’s energy transition. It will be a natural outlet for our US LNG supply which will progressively increase.”

Edwin De los Santos, chief executive officer of ENADOM, added:
“This agreement with TotalEnergies is the result of the confidence placed in the Dominican Republic’s energy sector and, specifically, in ENADOM and AES. This partnership, alongside ENADOM’s demonstrated investment capabilities, supports the provision of natural gas to the Dominican electricity market by ensuring a reliable, competitive, and environmentally responsible energy supply. ENADOM is proud to play a pivotal role in the expansion and strengthening of the nation’s energy matrix.”

With this long-term agreement, TotalEnergies continues to expand its presence in the Caribbean LNG market, while ENADOM reinforces its role as a critical player in delivering cleaner, more sustainable energy solutions to the Dominican Republic.

For more information visit www.totalenergies.com

OQ, the energy group at the forefront of developing Duqm as a world-class hub for hydrocarbons, chemicals, and low-carbon products, has entered into an exclusive partnership framework agreement with Royal Vopak. The collaboration, set within the Special Economic Zone at Duqm, marks a strategic milestone in establishing Duqm as a premier destination for industrial and energy infrastructure investment.

The partnership aims to unlock long-term growth opportunities in terminal infrastructure and sustainable energy transition projects. By combining OQ’s regional influence with Vopak’s global expertise in large-scale infrastructure development and operation, the alliance is well-positioned to support Oman’s ambitions for industrial diversification and economic resilience.

A Catalyst for Strategic Growth

This collaboration is expected to drive significant economic impact by attracting international clients, supporting the development of new energy and industrial projects, creating employment opportunities, and enhancing Duqm’s appeal as a regional storage and logistics hub.

Commenting on the importance of the agreement, Ashraf Al Mamari, Group CEO of OQ, stated:“This partnership is a catalyst for Duqm’s emergence as a globally competitive energy hub. By aligning with Vopak’s international expertise, we are unlocking a new era of strategic infrastructure investment that strengthens Oman’s position in global energy flows, accelerates the energy transition, and delivers long-term value for our economy and future generations.”

Dick Richelle, CEO of Royal Vopak, echoed this sentiment, saying:
“Vopak is excited to collaborate with OQ Group on this strategic partnership in Duqm. Our combined strengths in infrastructure development will be instrumental in creating a leading energy and chemical hub serving multiple industrial customers concurrently. We are excited to support Oman’s Vision 2040.”

Driving Sustainable Development and Investment

The agreement is anticipated to boost investor confidence and global interest in SEZAD. It will also provide access to world-class expertise, financing, and talent, aligning with Oman’s broader goals to diversify its economy and strengthen its position within global energy markets.

As a global integrated energy group, OQ operates across 17 countries and covers the full value chain—from upstream oil and gas exploration to downstream refining, petrochemicals, and the global marketing of end-user products. The group’s sustainability arm, OQ Alternative Energy, is actively investing in renewable energy and green hydrogen development within Oman.

This partnership with Vopak signifies a shared vision to develop resilient, future-ready infrastructure that supports industrial growth and the global energy transition.

For more information visit www.vopak.com

AltaGas Ltd. has spotlighted its Ridley Island Propane Export Terminal (RIPET) as a cornerstone of its growing export capabilities and midstream value chain. Located on Canada’s West Coast, RIPET is operated in partnership with Vopak, a global leader in tank storage. This collaboration marks a significant strategic alliance, combining AltaGas’s energy infrastructure expertise with Vopak’s global experience in terminal operations and safety.

The partnership has enabled the successful development and operation of Canada’s first LPG export terminal, positioning RIPET as a critical hub for supplying liquefied petroleum gas to Asian markets. Together, AltaGas and Vopak have enhanced North America’s access to global energy markets, delivering affordable and reliable energy across the Pacific.

Key to RIPET’s success is its connection to a strong railway network. This week, representatives from Canadian National Railway toured the facility to observe firsthand the role their infrastructure plays in linking domestic supply with international demand.

AltaGas emphasised the importance of these collaborative relationships—with Vopak and CN alike—in building resilient, efficient export solutions that drive long-term value across the energy sector.

For more information visit www.altagas.ca

Mesa Engineered Tank Products, a recognised leader in advanced storage tank solutions, has announced the launch of Armor Fabric™, a patent-pending, high-performance engineered vapor barrier fabric designed to transform the durability and reliability of floating roof seals in aboveground storage tanks.

Armor Fabric represents a major advancement in protective fabric technology, delivering exceptional resistance to extreme environmental conditions, aggressive chemicals, and mechanical stress. Developed specifically for AST sealing applications, the innovative fabric ensures long-term performance, enhanced operational efficiency, and improved safety across storage tank facilities worldwide.

“Mesa ETP has always led the industry in delivering engineered solutions that enhance the integrity, longevity, and environmental stewardship of storage tank systems,” said Adam Vance, General Manager of Mesa ETP. “Armor Fabric is the latest example of our commitment to providing industry-leading innovations that evolve with our customers’ needs.”

Key Features of Armor Fabric™:

• Extreme Durability – Engineered for high tensile strength and superior abrasion resistance, extending service life in harsh environments.

• Chemical Compatibility – Rigorously tested and proven compatible with a wide range of AST contents, with performance benchmarked against Teflon™.

• Made in the USA – Manufactured in Cincinnati, Ohio, eliminating delays caused by tariffs or overseas shipping and ensuring consistent availability.

• PFAS-Free Composition – Formulated without per- and polyfluoroalkyl substances, offering a safer and more sustainable alternative to traditional materials.

Armor Fabric is ideally suited for demanding applications such as floating roof tank seals, drain hoses, and other protective barrier systems where high-performance materials are critical.

With the launch of Armor Fabric, Mesa ETP continues to solidify its reputation as a trusted partner to the oil and gas storage industry. This latest innovation highlights the company’s ongoing investment in product development and environmental responsibility, offering terminal operators greater operational reliability, reduced maintenance costs, and enhanced environmental protection.

For more information visit www.mesa-ind.net

Vallourec has announced the successful completion of its acquisition of Thermotite do Brasil Ltda. from Mattr, following the terms of the agreement initially disclosed on 16 September 2024.

The acquisition marks a key step in Vallourec’s premiumisation strategy by integrating Thermotite’s specialised technological expertise in thermal insulation coatings for pipelines. This strategic move enhances Vallourec’s capabilities in delivering high-value solutions for offshore oil and gas projects.

Philippe Guillemot, chairman of the board of directors and chief executive officer: “This acquisition further strengthens our presence and our industrial value chain in Brazil, a key market for the offshore oil and gas industry. It will enable us to take a new step forward in our strategy to offer our customers integrated solutions with very high added value.”

The transaction received all required regulatory approvals and was finalised within the anticipated timeframe.

For more information visit www.vallourec.com

German LNG Terminal GmbH has announced the addition of a combined expert group from the Netherlands to its landmark energy infrastructure project in Brunsbüttel, strengthening the project’s European character and technical capabilities.

Dutch companies Ballast Nedam Infra B.V. and Hakkers Waterbouw will join forces to construct the project’s large-scale sea jetty—an essential component of the terminal located in Germany’s coastal energy hub, Energieküste. In addition to the primary sea jetty, a smaller berth will also be developed to accommodate LNG bunker ships and barges.

This collaboration underscores the project’s significance as a truly European initiative, supporting both a secure and reliable energy supply and the broader European energy transition. The Brunsbüttel terminal is set to play a vital role in diversifying energy imports and enabling cleaner energy solutions across the region.

Construction work on the sea jetty is scheduled to begin in the summer of 2025 and is expected to be completed by the end of 2026. The Dutch partners will utilise a range of advanced construction equipment and technologies—including crane vessels, floating sheerlegs, and pontoons—to ensure an efficient and environmentally responsible build.

With this partnership, German LNG Terminal GmbH continues to demonstrate its commitment to international collaboration and sustainable infrastructure development. The addition of Ballast Nedam Infra B.V. and Hakkers Waterbouw further strengthens the project’s technical foundation, paving the way for timely delivery and operational excellence.

For more information visit www.germanlng.com

Petredec, a global leader in the LPG value chain, has announced the launch of the Tanga LPG Terminal project — a landmark open-access facility that will significantly enhance energy security and support Tanzania’s clean cooking goals. The project, which aligns with President Samia Suluhu Hassan’s energy transition agenda, is being developed in partnership with the ASAS Group of Companies, a respected Tanzanian conglomerate with deep expertise in fuel and LPG transportation.

Set to become the largest terminal of its kind in Tanzania, the facility will be strategically located on a 26-hectare site in Chongoleani, Tanga Bay. The first phase will include six mounded LPG storage spheres with a capacity of 40,000 cubic metres, eight truck loading gantries, and a 2.8-kilometre underwater pipeline. The terminal will also be capable of accommodating Very Large Gas Carriers (VLGCs), which are currently unable to dock at existing Tanzanian ports. This development is expected to reduce dependency on the Port of Dar es Salaam and establish Tanga as a regional LPG hub, thereby improving the reliability and affordability of LPG supply.

LPG is recognised as a practical and scalable solution for promoting clean cooking, especially in rural and off-grid communities across East Africa. The Tanga LPG Terminal will play a central role in reducing deforestation and expanding access to efficient energy solutions. With the support of the Government of Tanzania, the terminal is poised to foster an ecosystem of businesses that will deliver LPG access to even the most remote areas.

Jonathan Fancher, CEO of Petredec Global, stated:
“History has proven that large-scale infrastructure is the indispensable key to the reliable and competitive supply of LPG. We are once again proud to contribute to the region’s development and are confident that the Tanga LPG Terminal will be instrumental in helping establish Tanzania as a prominent clean energy hub in the wider East African region. We look forward to collaborating with the ASAS Group of Companies on this transformative project.”

Hon. Dr Doto Mashaka Biteko, deputy prime minister and minister for energy, Government of Tanzania, welcomed the initiative:
“In line with our aims to increase access to clean cooking for all Tanzanians, we are pleased to welcome Petredec as an investor in the LPG sector and look forward to seeing the impact their terminal will make on an already-growing market. Accelerating the next phase of growth is vital for LPG to truly reach all parts of our country and beyond. Adding more import capacity is an important step towards realising our expansion plans for this energy solution.”

Naif Jaffer Abri, CEO of the ASAS Group of Companies, added:
“The Tanga LPG Terminal stands as a powerful example of how two major companies can successfully unite their local and international strengths to bring to life a meaningful and inspiring project, one that will leave a lasting mark on our nation’s history. We eagerly look forward to the realisation of this exciting initiative, which promises not only significant benefits for the entire LPG industry but also expanded access to clean cooking for households across the country.”

With the EPC contract awarded and the access road completed, full-scale construction of the Tanga LPG Terminal is expected to begin in the coming weeks. Completion is targeted for the end of 2027.

For more information visit www.petredec.com

Aager, a leading manufacturer of engineered safety systems under the Ergili Group, has successfully demonstrated the real-world performance of its combination Pressure Vacuum Valve and Flame Arrester system (Model SF101) after a critical lightning incident at an industrial facility in Colombia.

The site, which stores large volumes of flammable liquids, recently experienced a severe thunderstorm during which a storage tank sustained a direct lightning strike to its venting system — widely considered a worst-case scenario in flammable storage operations.

Lightning Strike Tests Tank Safety to the Limit

In such scenarios, lightning can ignite flammable vapours exiting the tank, allowing flame propagation back into the vapour space — a potentially catastrophic outcome that could lead to explosion, fire, and significant facility damage.

However, thanks to the robust design of Aager’s SF101 Combination PVV and Flame Arrester, the facility avoided disaster. Despite the full force of the lightning strike, the system performed exactly as intended:

• The PVV cap, mounted at the top of the venting system, absorbed the initial mechanical and thermal impact, preventing damage to the core assembly.

• The flame arrester element, located immediately below the PVV, successfully quenched the flame front using its high-grade stainless-steel matrix, stopping flame propagation.

• No internal ignition or vapour ingress occurred, and the storage tank remained fully operational with its contents uncompromised.

Only the external PVV cap required replacement — the internal mechanisms and flame arrester remained fully functional.

Why Design Matters: A Layered, Heavy-Duty Solution

Unlike many compact, integrated PVV/flame arrester units on the market, Aager’s system employs a modular design prioritising separation of functions, physical durability, and ease of maintenance. This layered approach proved critical in mitigating the lightning strike:

1. Layered Protection: With the PVV positioned on top, it served as the first line of defence, shielding the flame arrester below.

2. Mechanical Strength: Built with heavy-duty materials, the standalone components showed superior resistance to physical and thermal stress.

3. Service Flexibility: Independent component replacement meant only the damaged cap required servicing, reducing downtime and costs.

4. Improved Flow Management: The combination unit provides better airflow control, with lower pressure drops under both normal and emergency venting.

5. Redundancy by Design: Separate functions for pressure relief and flame quenching offer an added safety layer not available in single-body units.

A Real-World Success Story

The outcome speaks volumes:

✅ No injuries or personnel exposure
✅ No damage to the tank or stored materials
✅ No environmental consequences
✅ Minimal downtime – only the vent cap was replaced
✅ Uninterrupted operations

Aager’s client in Colombia credited the system’s robust performance with avoiding a potentially catastrophic event. Millions of dollars in infrastructure and inventory were safeguarded, highlighting the vital role of engineered safety equipment in high-risk environments.

Commitment to Safer Operations

This case underscores Aager’s commitment to delivering high-performance solutions designed for the world’s toughest industrial conditions. As climate-related risks increase, particularly in storm-prone regions, the demand for resilient, field-tested safety systems continues to grow.

By outperforming integrated alternatives, Aager’s combination PVV and Flame Arrester provides not only superior protection but also operational peace of mind. The incident serves as a compelling reminder that in hazardous environments, investing in proven safety technology can be the difference between continuity and catastrophe.

For more information visit www.aager.de

Baker Hughes, a global energy technology company, has announced an agreement to establish a new joint venture with a subsidiary of Cactus, Inc. Under the terms of the agreement, Baker Hughes will contribute its Surface Pressure Control product line to the venture, while Cactus will take operational control and hold a 65 percent ownership stake. Baker Hughes will retain a 35 percent interest.

The joint venture will operate independently from Cactus’ existing Pressure Control business and will focus on strengthening its position in the international market for surface wellhead and production tree systems.

This move reflects Baker Hughes’ strategy to streamline its portfolio, enhance the durability of its earnings and cash flow, and redeploy capital toward higher-return opportunities. The company emphasised its continued commitment to a disciplined capital allocation approach.

“This transaction marks an important step in our ongoing portfolio optimisation strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “We remain committed to our valued SPC partners and customers whose operations we have proudly supported, and we believe this joint venture only enhances delivery of innovation and reliability in well control. The combined business will benefit from Cactus’ expertise in unconventional applications and its agility in entering international markets.”

The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the second half of 2025.

For more infomation visit www.bakerhughes.com

NextDecade Corporation has announced that TotalEnergies has exercised its option to purchase liquefied natural gas from Train 4 at the Rio Grande LNG Facility. As part of this development, subsidiaries of both companies have entered into a long-term sale and purchase agreement for LNG offtake from the train.

Under the terms of the agreement, TotalEnergies Gas & Power North America, Inc. will purchase 1.5 million tonnes per annum of LNG over a 20-year period. The LNG will be supplied on a free-on-board basis at a price indexed to Henry Hub, contingent upon a positive Final Investment Decision on Train 4.

Matt Schatzman, chairman and chief executive officer of NextDecade, expressed appreciation for the continued partnership, stating:
“TotalEnergies has been a key contributor to the success of Rio Grande LNG Phase 1, and we are pleased to be expanding our strategic partnership with TotalEnergies with the execution of this Train 4 SPA. This SPA completes the commercial support we need for Rio Grande LNG Train 4, and we are now focused on progressing Train 4 toward a positive FID.”

With this latest agreement, NextDecade has now contracted a total of 4.6 MTPA of LNG from Train 4 on a long-term basis. The company believes the existing commercial commitments provide sufficient support to reach a positive FID for the project.

The final investment decision on Train 4 will depend on securing adequate financing for the train and associated infrastructure, along with other customary conditions.

For more information visit www.investors.next-decade.com

With over three decades of expertise, JSF aluroofs® has become a global leader in the design and manufacture of aluminium roofs for petroleum, water, wastewater, and industrial storage tanks. Operating in more than 90 countries, the company has built a strong international presence through innovation, engineering excellence, and a commitment to quality.

JSF aluroofs® employs an advanced, automated manufacturing system with high production capacity, ensuring all products are delivered to the highest quality standards. Its customer-focused approach and strong engineering capabilities form the foundation of its long-standing reputation in the industry.

The company offers a comprehensive range of solutions tailored to the specific requirements of each project, including:

• alusphere® domes

• alugreca® flat covers

• aluplan® flat covers

• alucone® conical roofs

• Internal Floating Roofs (IFR), including both full contact and pontoon types

Among these, the alusphere® domes are particularly notable for their innovative design and multiple benefits:

• Reduction of emissions

• Long service life

• Lightweight, mechanised structure for ease of assembly

• Quick and efficient installation

For 30 years, JSF aluroofs® has remained at the forefront of aluminium structure innovation, providing sustainable, efficient, and high-performance solutions across the globe.

For more information visit www.aluroofs.com

Perenco has announced the successful completion of the United Kingdom’s first carbon dioxide injection test for Carbon Capture and Storage, a landmark achievement for both Project Poseidon and the UK’s broader decarbonisation agenda.

The test involved injecting CO₂ into a depleted natural gas reservoir in the Southern North Sea, demonstrating the technical viability of repurposing existing hydrocarbon infrastructure for carbon storage. Conducted by the Project Poseidon Joint Venture—comprising Perenco UK, Carbon Catalyst Ltd, and Harbour Energy—the operation was carried out from Petrodec’s ERDA rig, the first in the UK to obtain an approved safety case for CO₂ injection support. With the rig now departed from the Leman 27H platform, the test phase has formally concluded.

Over the course of the programme, 15 injection cycles were successfully completed into the Leman gas field, supported by 11 offshore CO₂ batch refills. The operation was delivered safely and on schedule, without injection issues, and resulted in the acquisition of an exceptional dataset—paving the way for further technical and regulatory progress in CCS.

The successful outcome not only validates the potential for carbon storage in depleted Southern North Sea fields, but also highlights the cost-efficiency benefits of reusing legacy petroleum production infrastructure. The test was the result of a collaborative effort across multiple stakeholders in the energy, CCS, and service sectors, coordinated through the Perenco UK–Petrodec–Dixstone partnership.

Perenco expressed optimism that the project will bolster confidence in the UK’s CCS industry, assist in shaping regulatory frameworks, and help establish technical benchmarks for future carbon storage initiatives.

Armel Simondin, CEO of Perenco, commented:
“This test has met our expectations, both in terms of technical execution and the quality of data gathered. These insights are instrumental as we move to the next phase of developing the Poseidon Project. The successful test highlights the role our industry can play in the UK’s decarbonisation efforts. The Perenco CCS team and our joint venture partners are now fully focused on interpreting the results and converting new insights into an evidence-based development plan for Project Poseidon.”

for more information visit www.perenco.com

In a recent strategic meeting held in Hanoi, Mr Le Manh Hung, chairman of the board at Petrovietnam, welcomed Mr Steven Kobos, president and CEO of Excelerate Energy, to discuss advancing LNG cooperation between the two organisations.

Excelerate Energy, a US-based company, is recognised globally for its leadership in Floating Storage and Regasification Unit technology, which plays a vital role in enabling flexible and efficient LNG supply. In March, PV GAS and Excelerate Energy signed a memorandum of understanding focused on importing LNG from the United States, marking a significant step in Vietnam’s ongoing energy diversification strategy.

During the meeting, Petrovietnam and PV GAS:

• Reviewed the progress of the LNG import MoU

• Reaffirmed their shared commitment to expanding Vietnam’s clean energy supply, particularly through LNG

• Discussed potential mechanisms to address regulatory and market-related challenges

Mr Le Manh Hung reiterated Petrovietnam’s readiness to support this collaboration and align joint projects with the country’s national energy objectives. Mr Steven Kobos, in turn, expressed appreciation for the warm welcome and emphasised Excelerate’s strong interest in further cooperation—not only with PV GAS and Petrovietnam, but also in strengthening broader US–Vietnam economic and energy relations.

This partnership reflects Petrovietnam’s strategic focus on delivering clean, secure, and sustainable energy, with LNG set to play a pivotal role in the nation’s energy transition.

For more information visit www.pvn.vn

Suncor Energy has announced that its Edmonton refinery, which has a capacity of 146,000 barrels per day, played a key role in the company’s near-record refining throughput in 2024. The facility primarily produces gasoline, jet fuel, diesel, and other light oils, which are distributed to terminals across both Western and Eastern Canada through a combination of pipeline networks, trucking, and rail.

The refinery sources its feedstock from Suncor’s oil sands operations, as well as from other producers located in Alberta’s Wood Buffalo and Cold Lake regions.

In 2024, the Edmonton refinery achieved 105 percent utilisation, significantly contributing to Suncor’s overall refining throughput of 486,200 barrels per day—one of the highest in the company’s history.

For more information visit www.suncor.com

BRUGG Pipes, a globally active subsidiary of the BRUGG Group and a leading specialist in flexible and rigid pipe systems, has announced the appointment of Martin Rigaud as its new chief executive officer, effective 1 June 2025.

Martin Rigaud brings extensive industry knowledge and leadership experience to the role, having held several senior positions within BRUGG Pipes since 2017. He served as managing director of the Kleindöttingen site in Switzerland from 2017 to 2022, and since January 2023, he has led the company’s global District Heating Solutions division as chief sales officer.

From left to right: Stephan Wartmann (CEO BRUGG GROUP) with Martin Rigaud (CEO BRUGG Pipes)

With a strong academic background, Rigaud holds a master’s degree in industrial engineering from Grenoble INP-UGA and the Karlsruhe Institute of Technology, as well as an executive MBA from the ZHAW School of Management and Law in Switzerland.

Commenting on his new role, Rigaud stated: “I am looking forward to this new challenge as CEO and to shaping the future of BRUGG Pipes together with our dedicated team. My goal is to further strengthen the company’s innovative capabilities and expand its international presence.”

The executive board and board of directors of the BRUGG Group welcomed the appointment, noting: “With Martin Rigaud, we have appointed an industry expert and long-standing executive to the CEO position. We are confident that he will lead BRUGG Pipes successfully into the future. At the same time, we extend our sincere thanks to René Bollier for his interim leadership over the past six months.”

Rigaud’s leadership is expected to support BRUGG Pipes’ continued growth and innovation across its global markets.

For more information visit www.brugg.com

Santos has announced substantial progress across its major energy developments, with the 120-mile pipeline for the Pikka project now substantially complete—one year ahead of schedule. Only minor tie-in and punch-list tasks remain, opening up the possibility for an early project start-up, subject to weather conditions and logistical readiness in the months ahead.

In another key update, the Barossa LNG project reached 95.2 per cent completion at the end of March and remains on track to deliver first gas in Q3 2025. Offshore pipelines connecting the Barossa gas field to the Darwin LNG facility are complete, with the drilling program progressing steadily—four wells have been completed, one is suspended, and drilling on a sixth well is underway. The final phase of the subsea umbilicals, risers and flowlines installation is expected to wrap up shortly, with all supporting work packages aligned with the first gas schedule.

These project advancements were highlighted during Santos’ Annual General Meeting (AGM), where shareholders expressed overwhelming support for the company’s strategy. Notably, 85.85 per cent voted in favour of the company’s Say on Climate advisory resolution, a clear endorsement of Santos’ decarbonisation efforts and emissions reduction roadmap.

A key component of this strategy is the Moomba Carbon Capture and Storage project, now in operation for over six months. The facility is designed to store up to 1.7 million tonnes of CO₂ per year, depending on availability, and is expected to soon begin generating revenue through the allocation of Australian Carbon Credit Units by the Clean Energy Regulator.

Despite global market volatility, Santos remains resilient. Its diversified LNG portfolio continues to generate robust US dollar-denominated cash flows through long-term contracts with Asian customers, with approximately 90 per cent of LNG production contracted for the next five years. The company’s low unit production costs and free cash flow breakeven oil price of under USD 35 per barrel position it strongly to deliver consistent shareholder returns.

Santos also maintains a solid balance sheet and is on track to increase production by over 30 per cent by 2027, as Barossa and Pikka Phase 1 come online.

Kevin Gallagher, managing director and CEO of Santos, expressed confidence in the company’s direction and praised the pace of development.

“Barossa is just months away from first production and associated cash flows. The possibility of early production from Pikka has been created with completion of the pipeline a year ahead of schedule, and I am very pleased with the good, and improving, well results we are seeing as we execute the drilling program,” Gallagher said.

“The strong vote for our Say on Climate confirms that we are on the right track with our decarbonisation strategy as we look to build a commercial carbon management services business based on carbon capture and storage.”

Pikka Phase One Update:

• Over 80 percent complete as of March.

• 17 of 26 wells drilled toward first oil.

• Strong well performance with an average initial 30-day production rate of 6,900 barrels/day, peaking at 7,850 barrels/day.

• Pipeline substantially complete; grind-and-inject facility operational.

• Seawater treatment plant barge scheduled to depart Indonesia for Alaska in Q3 2025.

• No significant impacts expected from US tariffs.

Barossa LNG Update:

• 95.2 percent complete; first gas on schedule for Q3 2025.

• Four production wells completed, one suspended, one in progress.

• Subsea installation work nearing completion.

As Santos pushes forward with its strategic developments and climate commitments, the company continues to position itself as a key player in the global energy transition.

For more information visit www.santos.com

Exolum has commenced operations at the fuel storage and distribution network of Paris-Charles de Gaulle Airport, the largest airport in the European Union. The company was awarded a 20-year concession by Aéroports de Paris to manage and maintain the airport’s fuel distribution facilities.

Under the agreement, Exolum will invest over €200 million to maintain, upgrade, and expand the existing infrastructure. This includes enhancements to storage capacity and fuel supply systems, as well as developments to support future capabilities.

To support the operation, Exolum has assembled a team of more than 30 professionals, nearly half of whom have joined from the previous operator. All team members have completed a tailored induction process to ensure alignment with Exolum’s operational procedures and corporate values.

Paris-Charles de Gaulle’s current facilities include 82,000 cubic metres of storage capacity, housed in two dispatch tanks, and a hydrant network exceeding 81 kilometres in length.

Jorge Guillén, aviation & Spain network lead at Exolum, stated: “Exolum’s aim is to deliver a fuel supply operation that is reliable, efficient, and of the highest service quality for Charles de Gaulle Airport. Significant expertise has been applied by our teams in preparation for this launch, and we will continue to leverage our experience built across numerous airports over many years. Our investment will ensure the airport benefits from modernised infrastructure, enhanced operational efficiency, and improved access to sustainable aviation fuels.”

Exolum operates a wide range of fuel infrastructure assets both on and off airport grounds, including extensive hydrant networks. The company also provides aircraft refuelling services and other specialist operations at airports across six countries in Europe and Latin America.

As part of its broader industry engagement, Exolum is a strategic partner of IATA and an active member of the Joint Inspection Group. It currently chairs the Energy Institute’s aviation committee and holds affiliate memberships with ALTA and Airports Council International.

For more information visit www.exolum.com

Wärtsilä Gas Solutions, a business unit of the global technology group Wärtsilä, has unveiled the Puregas BC, a cutting-edge solution for purifying and liquefying carbon dioxide captured from biogas upgrading plants. This innovation marks a major step forward in enabling carbon-negative, energy-efficient, and economically viable operations for biogas plant owners.

Traditionally, biogas upgrading plants operate on a “catch and release” model, where carbon dioxide is removed from the biogas but subsequently released into the atmosphere. The Puregas BC changes this paradigm by applying advanced purification and liquefaction technologies to retain and repurpose the captured carbon dioxide. The result is a transformative system that not only reduces emissions but turns biogas—already considered a circular and carbon-neutral fuel—into a carbon-negative energy source.

When integrated with Wärtsilä’s Puregas CA biogas upgrading system, the solution eliminates nearly all methane slip (less than 0.1 percent), as any trace methane can be redirected back into the upgrading process. This ensures maximum environmental efficiency.

Beyond environmental advantages, Puregas BC offers a valuable new revenue stream. The purified carbon dioxide meets food and beverage quality standards, and can also be stored or used as feedstock in e-fuels production—a growing demand area due to emerging sustainability regulations.

“The world is facing a climate crisis that calls for not only neutralising but reversing the impact of carbon emissions. The Puregas BC is a product that can deliver this and move from a carbon neutral to a carbon negative impact,” said Magnus Folkelid, Sales Manager, Wärtsilä Gas Solutions, Biogas. “The solution is designed to support our customers to reach their decarbonisation commitments. On top of this, the product also offers a commercial benefit.”

Delivered as a containerised, plug-and-play system, Puregas BC requires no additional buildings and is designed for seamless integration with existing Puregas CA systems. It is also suitable for retrofit projects and can be adapted to work with other biogas upgrading technologies, making it a flexible and future-ready investment for plant operators.

For more information visit www.wartsila.com

Vallourec, a global leader in premium seamless tubular solutions, has entered into exclusive negotiations with Aldebaran Capital Partners for the sale of its subsidiary Serimax, which specialises in advanced welding solutions. The transaction reflects an enterprise value of €79 million, including a €7 million earn-out.

The proposed sale is expected to be finalised in the coming months, pending the consultation of employee representative bodies and the fulfilment of standard conditions precedent, including necessary regulatory approvals.

This divestment forms part of the New Vallourec strategy, which aims to streamline the Group’s capital allocation and sharpen its focus on core operations within the tubular solutions sector. Serimax, having undergone a swift transformation under Vallourec’s strategic guidance, is now operating profitably as an independent business.

With Aldebaran’s backing, Serimax is set to continue its growth trajectory and pursue further development in markets outside Vallourec’s operational scope. The transaction underscores Vallourec’s commitment to reinforcing its position in its core industry while enabling Serimax to expand under new ownership.

For more information visit www.vallourec.com

The Engineering Equipment and Materials Users Association has announced the appointment of three new non-executive member directors to its Board: Clare Booth of Syngenta, Phil McEvoy of UM Terminals, and Dr Ian Watson of E.ON. These appointments mark a continued commitment to strengthening the Association’s leadership and expertise as it supports industry in improving the safety, efficiency and compliance of critical industrial assets worldwide.

The EEMUA Board plays a central role in guiding the Association’s strategic direction and delivering on its core mission to support members and stakeholders through knowledge sharing, best practice and technical development.

Clare Booth – Syngenta

Clare Booth, a chartered integrity and materials engineer, brings over 30 years of experience in asset integrity management, specialising in inspection, corrosion control, and more recently, the development and implementation of global engineering standards. At Syngenta, she has championed collaborative approaches to enhance process safety management through effective asset care across international operations.

Commenting on her appointment, Booth said:
“As a board member, I intend to share my experience and understanding of challenges encountered within international manufacturing to drive change, promote good engineering practices for all and embrace future challenges.”

Phil McEvoy – UM Terminals

Phil McEvoy is a chartered materials engineer with 25 years’ experience in oil, gas and infrastructure, including 15 years in bulk liquid storage. As Managing Director of UM Terminals, McEvoy has combined asset integrity and inspection management with commercial operations to drive performance across the business.

Reflecting on his new role, McEvoy said:
“I am looking forward to being able to use my understanding of the challenges of asset owners and operators within the storage and process industries to help shape the future initiatives and development of EEMUA.”

Dr Ian Watson – E.ON

Dr Ian Watson is a chartered materials engineer with over two decades of experience in asset integrity, risk management, and process and product safety. In his role at E.ON Infrastructure Services, he has implemented a Product Safety Assurance Framework and an Operational Technology Cyber Security Management System. Watson also supports engineering governance and technical guidance across decarbonisation and asset optimisation programmes.

He said:
“My experiences within a large energy supplier have given me insights into many of the engineering problems facing EEMUA members, from ageing assets and engineering talent retention/development to decarbonisation and cyber security. I look forward to supporting EEMUA’s activities whilst also looking at opportunities for members to be engaged in the Association’s technical programme.”

Welcoming the Appointments

Commenting on the new appointments, EEMUA chair John Whitfield said:
“I would like to welcome Clare, Phil and Ian to the EEMUA Board. Their appointments are great additions that will strengthen and add to the robustness of the board. Each has a wealth of experience and knowledge in their own fields that will help shape the strategic direction, future initiatives and work of EEMUA as it moves forward in changing times.”

These appointments reaffirm EEMUA’s dedication to ensuring industry leadership that is both forward-looking and grounded in deep technical knowledge, as the Association continues to address the evolving challenges faced by its members.

For more information visit www.eemua.org

Aramco, one of the world’s leading integrated energy and chemicals companies, along with China Petroleum & Chemical Corporation and Yanbu Aramco Sinopec Refining Company (Yasref), has signed a Venture Framework Agreement (VFA) to advance a major petrochemical expansion at the Yasref complex in Yanbu, located on Saudi Arabia’s west coast.

The agreement, announced on the occasion of Yasref’s 10th anniversary, outlines plans to conduct engineering studies for the development of a fully-integrated petrochemical complex. Yasref is a joint venture between Aramco (62.5 percent) and Sinopec (37.5 percent). The proposed project is expected to introduce a state-of-the-art petrochemical unit featuring a large-scale mixed feed steam cracker with a production capacity of 1.8 million tonnes per year, alongside a 1.5 million tonnes per year aromatics complex. The new facilities will be integrated into the existing Yasref infrastructure, maximising operational synergies and supporting rising demand for premium petrochemical products.

Amin H. Nasser, president and CEO of Aramco, stated:
“The Yasref Venture Framework Agreement further deepens and elevates our strategic partnership with Sinopec. The planned expansion project solidifies our commitment to product innovation and diversification. As we look forward to strengthening our collaboration with Sinopec in making Yasref a leading refining and petrochemicals joint venture, we aim to contribute to growing Saudi Arabia’s position as a global leader in energy and chemicals.”

Aramco’s Downstream president, Mohammed Y. Al Qahtani, added:
“Our strong relationship with Sinopec continues to build momentum. The planned Yasref expansion aligns with our downstream strategy to unlock the full potential of our resources, including converting up to four million barrels per day of crude oil into petrochemicals by 2030. In partnership with Sinopec, we aim to advance cutting-edge refining and petrochemical capabilities to deliver high-value products, create new opportunities, drive industrial innovation, and enable economic transformation.”

Zhao Dong, president of Sinopec, highlighted the significance of the expansion for bilateral relations, saying: “Yasref, a flagship joint venture symbolising China-Saudi energy cooperation, has not only served as a key driver for Saudi Arabia’s local economic growth but also actively advanced petrochemical industry upgrades. The Yasref expansion project represents a significant milestone in our bilateral partnership, ushering in a new phase of deeper and more far-reaching collaboration. Sinopec and Aramco are poised to establish a world-class, integrated refining and petrochemical complex distinguished by comprehensive competitive advantages.”

Yasref is one of several strategic collaborations between Aramco and Sinopec. Other ventures include Sinopec Senmei Petroleum Company, Sinopec SABIC Tianjin Petrochemical Co., Fujian Refining & Petrochemical Company, and a new integrated refining and petrochemical complex under development in Fujian Province, China.

Through these partnerships, Aramco and Sinopec aim to strengthen energy security, fuel industrial innovation, and support the energy transition, contributing to global economic resilience and long-term sustainable growth.

For more information visit www.aramco.com

ONEOK, Inc. has announced the acquisition of the remaining 49.9 percent interest in Delaware G&P LLC from NGP XI Midstream Holdings, L.L.C. for a total consideration of $940 million. The transaction includes $530 million in cash and $410 million in ONEOK common stock.

Delaware G&P LLC, a joint venture in the Delaware Basin, owns and operates natural gas gathering and processing facilities in West Texas and New Mexico. With a total processing capacity exceeding 700 million cubic feet per day, the assets play a vital role in supporting regional energy infrastructure. Following the transaction’s close on 28 May 2025, ONEOK became the sole owner of the Delaware Basin joint venture.

ONEOK is a leading midstream service provider delivering energy products and services essential to a progressing global economy. The company operates approximately 60,000 miles of pipeline infrastructure, facilitating the gathering, processing, fractionation, transportation, storage and export of natural gas, natural gas liquids, refined products and crude oil. As one of North America’s largest integrated energy infrastructure companies, ONEOK continues to support domestic and international energy demands while advancing energy security and offering safe, reliable and responsible energy solutions.

For more information visit www.oneok.com

Mitsui & Co., Ltd. has announced its decision to acquire the remaining 50 percent stake in ITC Rubis Terminal Antwerp NV, making the company a wholly owned subsidiary. The acquisition, agreed on 2 April 2025, marks a significant strategic move for Mitsui in strengthening its presence in the European tank terminal sector. A share purchase agreement has been signed with Tepsa Infra SAS, the current co-owner.

ITC Rubis, based in Antwerp, Belgium, specialises in the storage, handling, and logistics of liquid chemicals. Established in 2008 as a joint venture between Mitsui and Tepsa (formerly Rubis Terminal Infra SAS), the terminal began operations in 2010 and has grown to a current storage capacity of approximately 300,000 cubic metres. Antwerp’s strategic location as a European chemical logistics hub has played a key role in the company’s development.

With ITC Rubis becoming a wholly owned subsidiary, Mitsui will fully consolidate its earnings from the terminal and plans to actively pursue further expansion. The acquisition also aligns with the company’s broader strategy to deepen its involvement in global infrastructure and logistics.

Key Terms of the Acquisition

• Ownership Change:

  • Before: Mitsui & Co. Group 50 percent (35 percent Mitsui & Co. Europe Ltd., 15 percent Intercontinental Terminals Company LLC); Tepsa 50 percent

  • After: Mitsui & Co. Group 100 percent (85 percent Mitsui & Co. Europe Ltd., 15 percent Intercontinental Terminals Company LLC)

• Acquisition Cost:

  • 50 percent of shares: approximately EUR 135 million (around JPY 21.9 billion)

  • Mitsui also plans to underwrite a loan of approximately EUR 37 million (about JPY 6 billion) from Tepsa to ITC Rubis

ITC Rubis Terminal Antwerp NV Overview

• Location: Antwerp, Belgium

• CEO: Filip Masquillier

• Business: Tank terminal operations for liquid chemicals

• Capital: EUR 66 million

• Established: February 2008

In terms of financial performance (in million JPY, with EUR/JPY at 160), ITC Rubis has shown steady growth:

*Pre-audit provisional results

Outlook

The acquisition is expected to be completed in the fiscal year ending March 2026, pending necessary regulatory approvals. Upon completion, Mitsui plans to revalue the fair market value of its existing shares in ITC Rubis, anticipating a valuation gain of approximately JPY 9 billion to be recorded in its consolidated financial results for the same fiscal year.

Through this acquisition, Mitsui reinforces its commitment to expanding its logistics and infrastructure footprint in Europe while leveraging its global network and operational expertise.

For more information visit www.mitsui.com

Kanon has successfully completed the delivery and commissioning of several MLA270 Marine Loading Arms at a remote offshore terminal in the Bahamas. Supplied in a range of sizes, including 16-inch and 12-inch configurations, the loading arms are engineered to ensure the safe and efficient transfer of refined oil products in demanding marine conditions.

To meet the specific requirements of the project, the equipment was delivered fully assembled rather than in components. This strategy helped to significantly reduce installation time and limit on-site handling—an important consideration given the minimal infrastructure available on the island.

Installation presented a number of logistical challenges. With no jack-up barge or heavy-lifting equipment available, all offshore lifting operations were conducted from a small pontoon using older cranes. Frequent interruptions due to wind and swell required a flexible approach and tight coordination between all stakeholders.

Despite these complexities, the installation was completed on schedule and in line with the highest technical standards. The terminal became operational shortly after commissioning began, with all systems performing as expected from the outset.

This project exemplifies Kanon’s commitment to delivering reliable loading solutions through close collaboration with its customers—even in the most challenging environments.

For more information visit www.kanon.nl

Royal Vopak has announced the signing of Note Purchase Agreements for a significant debt issuance in the US Private Placement market, totalling USD 325 million and EUR 260 million. The funding, scheduled for June 2025, is subject to customary closing conditions.

The Notes Programme comprises multiple EUR and USD tranches with maturities ranging from 5 to 11 years. The USD-denominated notes include USD 100 million in subordinated notes and carry a weighted average fixed annual interest rate of 5.7 percent. Meanwhile, the EUR-denominated notes include EUR 60 million in subordinated notes and carry a weighted average fixed annual interest rate of 4.2 percent.

Proceeds from this issuance will primarily be used to refinance outstanding or maturing debt in 2025. The programme supports a well-balanced debt maturity profile and enhances Vopak’s financial flexibility, particularly under its existing EUR 1 billion Revolving Credit Facility.

Michiel Gilsing, chief financial officer of Vopak, commented:“The successful debt issuance, attracting more than nine times oversubscription, underpins our ongoing access to relevant capital markets and further strengthens Vopak’s financial foundations. This allows us to continue strategy execution to grow in industrial and gas terminals and accelerate investments in the energy transition infrastructure.”

The company noted that this announcement does not constitute an offer to sell securities in the United States or any other jurisdiction. The securities mentioned have not been registered under the US Securities Act of 1933 and may not be offered or sold in the United States without appropriate registration or an applicable exemption.

For more information visit www.vopak.com

First Gen Corporation has announced a landmark strategic partnership with Prime Infrastructure Capital, Inc., under which Prime Infra will acquire a 60 percent equity stake in First Gen’s gas business. The transaction marks a significant development in the Philippine energy landscape, particularly for the country’s natural gas and energy security sectors.

Upon closing, Prime Infra will hold a majority interest in several of First Gen’s key gas-fired power assets: the 1,000 MW Santa Rita Power Plant, the 500 MW San Lorenzo Power Plant, the 450 MW San Gabriel Power Plant, the 97 MW Avion Power Plant, and the proposed 1,200 MW Santa Maria Power Plant. The agreement also covers the Interim Offshore LNG Terminal in Batangas City.

As consideration for the equity, Prime Infra has agreed to pay PHP 50 billion to First Gen, subject to customary closing adjustments and mutually agreed modifications. In addition, First Gen will be eligible to receive earn-out payments, contingent on the fulfilment of agreed performance conditions.

All the gas assets included in the deal are located in Batangas City, a strategic hub for the Philippines’ energy infrastructure. These assets are considered critical to national energy security and are seen as vital components in the transition to a low-carbon energy future.

Federico Lopez, chairman and CEO of First Gen, commented:
“Our partnership with Prime Infra—built on mutual respect—is a major step in our mission to forge collaborative pathways towards a decarbonised and regenerative future. We have always believed that natural gas is the most practical fuel to transition to renewable energy. Our continued involvement in LNG highlights its essential role in maintaining energy security while enabling the greater adoption of renewables. This partnership also provides First Gen with additional resources to pursue our expanding portfolio of renewable energy projects.”

Following the transaction, ownership of the Batangas gas-fired power plants will be divided with Prime Infra holding 60 percent and First Gen retaining 40 percent. For the LNG terminal, ownership will be shared between Prime Infra (60 percent), First Gen (20 percent), and Japan’s Tokyo Gas (20 percent).

The new partnership is expected to work closely with the Philippine government to enhance national energy independence and ensure a stable, secure supply of power to support the country’s development goals.

First Gen is the Philippines’ largest producer of renewable energy, contributing around 18 percent of the country’s total power generation. Prime Infra, meanwhile, is the majority shareholder in Manila Water Company, Inc. and the operator of the Malampaya deep-water gas-to-power project through Prime Energy, further reinforcing its position in the country’s energy and utility sectors.

For more information visit www.firstgen.com.ph