Hycamite TCD Technologies has garnered significant global interest with its innovative methane-splitting technology, which produces low-carbon hydrogen and high-value solid carbon products from methane. The company is currently commissioning an industrial-scale demonstration unit in Kokkola to showcase its technology’s readiness for commercial deployment.

In a milestone announcement, Hycamite revealed the successful closure of a €44 million Series A funding round, conducted in two phases. The second phase was completed to support the operation of its industrial-scale demonstration unit. The funding round was led by Sojitz Group, with continued participation from existing investors Holdix Oy, Turret Oy, and Stephen Industries Oy. New investors OMV Petrom and MOL PLUS also joined the round, alongside private investors and Hycamite staff members.

OMV Petrom, part of the OMV Group and Southeast Europe’s largest integrated energy producer, and MOL PLUS, a corporate VC owned by Mitsui O.S.K. Lines, Ltd., are among the prominent newcomers. Their involvement reflects the growing global interest in methane-splitting technology and its potential for decarbonising industries.

Laura Rahikka, CEO and co-founder of Hycamite, expressed enthusiasm about the funding: “This investment marks a crucial step towards industrial scaling and deeper engagement with our end customers. The strong support from existing and new investors demonstrates confidence in our technology and its potential. The best is yet to come.”

Koji Aonuma, general manager of Sojitz’s Energy Transformation Department, highlighted Sojitz’s commitment:“As Hycamite’s largest shareholder, we will leverage our expertise and global networks to advance clean hydrogen and high-performance carbon products through innovative methane-splitting technology.”

Franck Neel, executive board member of OMV Petrom, commented:
“This partnership aligns with our vision for a sustainable energy future by unlocking cleaner fuel alternatives through advanced technology.”

Takuya Sakamoto, CEO of MOL PLUS, added:“We see significant potential in the Turquoise Hydrogen segment and opportunities for its application in LNG-powered vessels. Collaborating with Hycamite and its shareholders, we aim to overcome the challenges of implementing this technology in maritime applications.”

The Series A funding enables Hycamite to advance its technology and strengthen its position as a leader in clean hydrogen and carbon product solutions. With its industrial-scale demonstration unit nearing operational readiness, Hycamite is well-positioned to drive the transition toward sustainable energy production.

For more information visit www.hycamite.com

The board of directors of Northwest Natural Gas Company (NW Natural) has appointed Kim Rush, a longtime executive within the company, to serve as president, effective April 1, 2025. NW Natural, the largest subsidiary of Northwest Natural Holding Company (NW Natural Holdings), is a 166-year-old utility based in Portland.

In her new role, Rush will oversee all strategic, financial, and operational responsibilities for NW Natural. This appointment aligns with Justin B. Palfreyman’s anticipated transition to the role of CEO for both NW Natural Holdings and NW Natural, succeeding the retiring David H. Anderson.

Rush’s tenure at NW Natural began in 1998, during which she has held numerous leadership positions in communications, marketing, and operations. Her extensive experience culminated in her appointment as senior vice president and chief operating officer of NW Natural in 2023. Additionally, she has served as chief marketing officer and chief corporate communications officer.

Justin B. Palfreyman, president of NW Natural Holdings, commented on Rush’s integral role within the organisation, highlighting her extensive knowledge of the gas utility sector and her respected position among industry peers. He noted that her commitment to NW Natural’s core values and mission is crucial for the company’s continued success in delivering natural gas safely and reliably to customers.

Expressing her pride in her career at NW Natural, Rush emphasised the team’s dedication to the communities they serve and the importance of their work in supporting the regional energy system.

Before her tenure at NW Natural, Rush held management and senior communications roles at Alltel Corporation and Bank of America Corporation in Chicago. She currently serves on the board of the Northwest Gas Association and participates in the Operations and Sustainable Growth committees of the American Gas Association. Her prior board experience includes roles with ONE Future, the Western Energy Institute, Greater Portland, Inc., LifeWorks Northwest, Natural Gas Vehicles for America, and Utilisation Technology Development, which is affiliated with the Gas Technology Institute.

Rush holds a Bachelor of Arts in Communications from the University of Iowa and a Master of Science in Communications from Northwestern University in Illinois.

For more information visit www.nwnaturalholdings.com

SK Energy has made significant strides by successfully exporting Sustainable Aviation Fuel (SAF) to Europe, marking a notable achievement as the first Korean refiner to do so. This milestone follows just four months after the company initiated commercial production, thereby completing a global value chain for SAF.

With the European Union (EU) implementing mandatory SAF usage this month, SK Energy has rapidly positioned itself in the market, emerging as a leading producer due to its robust large-scale production system. On January 5 (KST), the company announced the export of SAF, which is produced through Co-Processing methods that refine bio-based materials, including used cooking oil and animal fats.

SK Energy representatives pose for a commemorative photo on January 4 (KST) at the SK Innovation Ulsan Complex dock, following the loading of Sustainable Aviation Fuel (SAF) onto a vessel for export to Europe.

As of January, EU regulations require that at least 2 percent of aviation fuel must consist of SAF, currently making Europe the only global market with such a mandate. Industry analysts have recognized SK Energy’s successful entry into Europe’s SAF market, highlighting its status as the first Korean refiner to establish a large-scale SAF production system.

SK Energy commenced commercial production of SAF in September of the previous year, utilising Co-Processing technology that integrates bio-based material supply lines into existing petroleum production processes. This innovative approach enables the production of low-carbon products, such as SAF and bio-naphtha. The company has achieved a competitive edge in exports by establishing an annual production capacity of approximately 100,000 tonnes for SAF and other low-carbon products.

An SK Energy spokesperson emphasised the importance of the company’s extensive production system, which is supported by the R&D expertise of the SK Innovation Institute of Environmental Science and Technology and the engineering capabilities at SK Innovation’s Ulsan Complex, in reaching this export milestone.

In collaboration with its affiliate, SK On Trading International, which has invested in a waste-based raw material company, SK Energy has successfully completed the global value chain—from raw material acquisition to production and sales.

Looking to the future, SK Energy intends to expand its domestic supply and continue its growth in the global SAF market. Since the International Air Transport Association (IATA) announced its commitment to achieving Net Zero emissions by 2050 in 2021, global demand for SAF has steadily increased. The IATA aims to reduce the aviation industry’s CO2 emissions by 50 percent compared to 2005 levels by 2050.

In alignment with these objectives, the EU has mandated that all aircraft departing from Europe must utilise at least 2 percent SAF, with plans to escalate this requirement to 6 percent by 2030 and 70 percent by 2050. Similarly, the United States has set a goal to transition all aviation fuel to SAF by 2050.

Lee Chun-kil, CSO of SK Energy and head of SK Innovation Ulsan Complex, stated that the company will closely monitor both domestic and international SAF policy changes and market demands to enhance SAF production and exports.

For more information visit www.skinnonews.com/global/

Howard Energy Partners has announced the successful acquisition of EPIC Midstream Holdings’ ethylene pipeline, further enhancing its footprint in the Gulf Coast region. The 120-mile, 12-inch, bidirectional pipeline connects the Gulf Coast Growth Venture’s petrochemical complex in Corpus Christi to storage facilities in Markham, Texas, providing critical ethylene transportation infrastructure.

The newly acquired pipeline aligns strategically with HEP’s existing operations, offering synergies with the company’s Javelina Plant. This facility specialises in treating and fractionating gas streams from local refineries to extract olefins, hydrogen, and natural gas liquids.

“This acquisition aligns with our long-term strategy of building a diversified midstream company through organic growth and acquisitions, anchored by long-term contracts,” said Mike Howard, chairman and CEO of Howard Energy Partners. “I want to thank our internal team for executing on this opportunity. We look forward to additional growth in 2025.”

The transaction marks a record-breaking year for HEP in mergers and acquisitions, with 2023 activity exceeding $1.1 billion. HEP now operates more than 1,500 miles of pipeline, nearly 1 billion cubic feet per day of cryogenic processing capacity, and almost 2.5 billion barrels of tank storage capacity across the United States and Mexico.

Legal advisory support for EPIC Midstream Holdings was provided by Kirkland & Ellis LLP, while Bracewell LLP and Sidley Austin LLP served as legal advisors to HEP.

For more information visit www.howardenergypartners.com

London-based Henry Stewart will continue as Global Energy Sector Head at Watson Farley & Williams, a position he has held since 2018. His former co-head, Hamburg Partner Malte Jordan, will step aside to focus on advancing the firm’s prominent German energy practice.

To support Stewart’s global leadership, WFW has appointed María Pilar García Guijarro, head of the Madrid Office, as Energy Sector head for Europe & Americas, and Singapore Partner Clarinda Tjia-Dharmadi as Energy Sector head for Asia Pacific. This expanded leadership reflects the firm’s commitment to addressing the challenges and opportunities of the global energy transition and the interconnected nature of energy markets.

Leadership Highlights

• Henry Stewart: Based in London, Stewart’s ongoing role underscores WFW’s dedication to continuity and expertise in the energy sector.
• María Pilar García Guijarro: A recognised leader in corporate and M&A energy law, María Pilar joined WFW in 2009 and became Head of the Madrid Office in 2011. Her 20 years of experience span Europe, Latin America, and the Middle East, with a focus on renewables, power, and gas.
• Clarinda Tjia-Dharmadi: Joining WFW in January 2024, Clarinda brings over two decades of experience advising on Asia’s landmark energy and infrastructure projects. A former global co-chair of Latham & Watkins’ Energy Practice, she specialises in innovative deal structures, particularly in Indonesia.

Leadership Vision
This leadership restructuring aims to enhance WFW’s global energy sector capabilities. With seasoned experts and expanded geographic representation, the firm is positioned to support its clients in navigating the rapidly evolving energy landscape.

Acknowledgements
Senior partner George Paleokrassas expressed confidence in the new team, stating:
“With further worldwide investment and growth planned for our energy sector, I’m delighted to welcome María Pilar and Clarinda to their new roles. Their expertise and track records make them the ideal leaders to drive our energy practice forward alongside Henry. I also extend my gratitude to Malte for his exceptional leadership and contributions to the sector’s success.”

Future Focus
Malte Jordan reflected on his tenure, remarking:
“It has been an honour to co-lead the firm’s Global Energy Sector Group since 2018 with Henry. I’m confident the group will continue to thrive under the new leadership, and I look forward to supporting its growth in Germany.”

This leadership evolution underscores WFW’s dedication to meeting the demands of the global energy transition while maintaining its reputation as a leading advisor in the energy sector.

For more information visit www.wfw.com

Chart Industries, Inc., a global leader in clean energy and industrial gas solutions, has announced the signing of a global master goods and services agreement with ExxonMobil.

This enabling agreement establishes the terms, conditions, and commercial framework for Chart to supply LNG equipment, technology, and services for ExxonMobil’s international portfolio of projects. Key provisions include the supply of Chart’s proprietary cold boxes and IPSMR® process technology, designed to enhance efficiency and scalability in LNG production.

Under the agreement, ExxonMobil and Chart will implement a “design once, build many” strategy to standardise project execution, optimising cost, timelines, and quality across LNG developments worldwide. This collaboration builds on Chart’s prior involvement in ExxonMobil’s Mozambique LNG project and reinforces their shared commitment to advancing LNG production capabilities across multiple countries.

Jill Evanko, CEO and president of Chart Industries, expressed enthusiasm for the expanded partnership, stating:
“We are proud to strengthen our relationship with ExxonMobil through this enabling agreement. Chart’s industry-leading LNG technology, including our cold boxes and IPSMR® process, supports ExxonMobil’s mission to deliver efficient, scalable, and reliable LNG solutions. This agreement further solidifies our position as a trusted partner for ExxonMobil’s global energy initiatives.”

Chart’s cold boxes and IPSMR® technology are engineered to maximise efficiency, optimise performance, and provide cost-effective LNG production, contributing to the global transition towards cleaner energy solutions.

This partnership reflects both companies’ commitment to delivering innovative and sustainable LNG technologies that address the growing demand for reliable and environmentally friendly energy resources.

For more information visit www.chartindustries.com

JERA Co., Inc. has announced the signing of a basic agreement with Yamato Transport Co., Ltd. to collaborate on the utilisation of renewable energy equipment and optimise its application to achieve decarbonisation within the logistics sector.

The Yamato Group has set ambitious climate goals, including achieving net-zero greenhouse gas emissions by 2050 and a 48 percent reduction by 2030 compared to 2020 levels. Key initiatives supporting these targets include the introduction of 23,500 electric vehicles, installation of solar power systems at 810 locations, and increasing the renewable energy usage rate to 70 percent. To enhance energy procurement capabilities and diversify energy sources, Yamato Holdings Co., Ltd. established Yamato Energy Management Co., Ltd. on 7 January 2025, aiming to provide renewable energy to the Yamato Group and other vehicle-dependent businesses.

Under the agreement, JERA’s subsidiary, JERA Cross, will act as an aggregation coordinator* to assist Yamato Energy Management in managing energy supply and demand. This collaboration will enable efficient and deliberate utilisation of renewable energy, such as tracking energy generated by electric vehicles and solar equipment across Yamato Group locations and other vehicle-using businesses. The initiative also aims to supply the Yamato Group with 24/7 carbon-free energy in the future, ensuring a continuous supply of renewable power.

JERA’s collaboration with the Yamato Group reflects a shared commitment to reducing carbon emissions in logistics and supporting a sustainable, carbon-neutral society. This partnership signifies a step towards achieving advanced energy solutions that align with global decarbonisation efforts.

For more information visit www.jera.co.jp

VTTI, recognised as a global leader in energy storage and infrastructure, has entered into an agreement with Pyrum Innovations AG, a specialist in the thermolysis recycling of waste tyres, to establish a cutting-edge waste tyre recycling thermolysis plant at VTTI’s Antwerp Terminal (ATPC). This agreement represents a significant advancement in integrating sustainable waste management solutions into VTTI’s infrastructure and is a crucial step in Pyrum’s international expansion efforts.

The project involves the construction of a thermolysis plant capable of processing up to 90,000 tonnes of End-of-Life Tyres (ELT) annually, implemented in two phases of 45,000 tonnes each. While VTTI will retain full ownership of the plant, Pyrum will serve as the development partner, contributing its proprietary and patented thermolysis technology. Pyrum was chosen as the development partner following a thorough evaluation, thanks to its advanced and proven thermolysis technology and successful history of industrial-scale operations in Europe.

This collaboration aligns with VTTI’s strategic objective of expanding its infrastructure footprint in sustainable energy solutions. The development of this plant is a key milestone in VTTI’s commitment to achieving 50 percent of its earnings from transitional and sustainable energies, as it diversifies its portfolio. The organisation also plans to develop similar plants at its existing global sites.

Guy Moeyens, CEO of VTTI, remarked that this collaboration with Pyrum signifies a significant progression towards a more sustainable future. By incorporating advanced thermolysis technology into its existing infrastructure, VTTI is not only diversifying its energy portfolio but also contributing to the circular economy. This initiative reflects VTTI’s dedication to innovation and responsible energy solutions, reinforcing its role in the transition to a greener and more sustainable energy landscape.

The thermolysis process will convert waste tyres into valuable by-products, such as Tyre Pyrolysis Oil (TPO) and Recovered Carbon Black (rCB). Leveraging its existing infrastructure and expertise, VTTI aims to promote a circular economy while enhancing the sustainability of industrial by-products.

Pascal Klein, CEO of Pyrum Innovations AG, expressed that the partnership with VTTI marks a pivotal milestone in modern tyre recycling and holds significant potential for the future. He emphasised the importance of the trust placed in their technology and highlighted the construction of their largest recycling plant to date, with a capacity of up to 90,000 tonnes of ELTs annually, asserting their commitment to the circular economy in Europe. Klein noted that achieving a sustainable recycling system for used tyres requires a dedicated team and strong partnerships.

The new plant will be located at ATPC within the Port of Antwerp and Bruges (PoAB), a key industrial hub in Europe that houses the continent’s largest integrated chemical cluster. VTTI’s strategic location within the PoAB ensures connectivity through a comprehensive pipeline network and proximity to both upstream and downstream industrial centers. Additionally, the site offers close access to Europe’s largest ELT markets, including Germany, the UK, and France, making it ideal for a large-scale recycling initiative.

The establishment of the waste tyre recycling plant supports the European Union’s Green Deal objectives. The European Commission’s Circular Economy Action Plan (CEAP), a fundamental aspect of the Green Deal, aims to alleviate pressure on natural resources, promote sustainable economic growth, and contribute to the EU’s 2050 climate neutrality goal. Through this initiative, VTTI and Pyrum are actively participating in Europe’s transition to a circular economy, supporting both environmental sustainability and economic development.

Looking ahead, VTTI has already designated land at its Antwerp site for the project and is preparing for the permit application process. Market consultations regarding feedstock and the offtake of TPO and rCB will be conducted in due course.

With the contract signed, Pyrum will commence the engineering phase, revising and expanding the plant design to accommodate a capacity of 20,000 tonnes of end-of-life tyres per year, with the goal of optimizing it to process up to 90,000 tonnes of ELTs annually in Antwerp.

This partnership highlights VTTI’s ongoing commitment to pioneering the next generation of energy infrastructure, reinforcing its position as a leader in sustainable energy solutions.

For more information visit www.vtti.com

Exolum has launched the first of two publicly accessible mobile hydrogen refuelling stations for fuel cell vehicles. These hydrogen stations, developed using technology from the Aragonese company CALVERA Hydrogen, are designed to meet customer needs by providing hydrogen at pressures of 350 and 700 bar. They are housed in container formats, facilitating easy transport. This initiative is part of Exolum’s H2ROAD business line, which aims to deliver tailored hydrogen logistics solutions across the entire value chain.

The service is currently operational, allowing customers to access the hydrogen station at any required location safely. The containerised units are designed for quick and easy relocation, ensuring that hydrogen refuelling solutions are available wherever needed.

To guarantee the quality and safety of the hydrogen supplied, Exolum employs online analysis and measurement systems at custody transfer points, ensuring compliance with required quality standards.

Beyond hydrogen transport, Exolum also provides storage solutions and manages the entire supply infrastructure. The company is responsible for the qualification and training of personnel operating the hydrogen stations.

Through this project, Exolum aims to advance the hydrogen economy and illustrate that hydrogen is a viable solution for decarbonizing both the goods and public transport sectors. The initiative has received funding through the “Sustainable and Digital Transport Support Programme” led by the Ministry of Transport and Sustainable Mobility.

For more information visit www.exolum.com/en/

CB&I has announced the award of a substantial lump-sum contract by TJN Ruwais JV for the engineering, procurement, and construction of two cryogenic tanks, along with associated civil, structural, mechanical, and piping works. The project forms a critical component of the liquefied natural gas facility located in Ruwais, Abu Dhabi, UAE, which will be the first net-zero LNG facility in the Middle East. TJN Ruwais JV is a joint venture between Technip Energies France-Abu Dhabi, JGC Corporation, and NMDC Energy.

Under the contract, CB&I will deliver two full-containment concrete LNG tanks, each with a capacity of 180,000 cubic metres. The scope also includes all necessary piping and civil infrastructure. Project execution will leverage CB&I’s global network, with tank construction led from its UAE office, engineering support from its Plainfield, Illinois office, and fabrication and modularisation provided by its facilities in Saudi Arabia and Thailand, respectively.

Mark Butts, CEO of CB&I, emphasised the company’s longstanding commitment to LNG infrastructure in the Gulf region, stating, “CB&I’s dedication to delivering world-class LNG storage in the Gulf began in 1981, and this project demonstrates our continued leadership in the region. Our global capabilities allow us to provide execution certainty while balancing cost and quality, ensuring the best value for our customers. We are proud to contribute to the energy transition through this landmark project.”

Construction activities for the Ruwais LNG project are slated to begin in November 2025, with completion expected in early 2028. This latest contract further underscores CB&I’s expertise in large-scale cryogenic storage solutions and its commitment to supporting the region’s energy transition goals.

For more information visit www.cbi.com

BASE Engineering, Inc., Saint John, New Brunswick, Canada, a business segment with the OPW Fluid Transfer Solutions business unit, is excited to announce the release and availability of its new Long-Range Chipset. This new wireless chipset option has been designed to increase range, reliability and installation flexibility beginning with the BASE Engineering portfolio of Ranger and ProControl handheld communication devices.

The new Long-Range Chipset features the capability to exceed 1,000 ft. (305 m) of range for installations that feature external antennas. One of the key benefits, however, of the Long-Range Chipset is that it enables device-to-device communication in worksite environments where the use of external antennas is not required, resulting in a cleaner, faster installation.

“The new Long-Range Chipset represents a continued commitment to our existing and future BASE Engineering ecosystem,” said Toby Bourque, Vice President of BASE Engineering. “Working with our partners and end-users, we’ve ensured this new chipset not only delivers a stronger communication range, but also a more reliable connection in challenging industrial operating environments. Our Long-Range Chipset also offers more flexibility and simplicity during installation while removing the external-antenna requirement in many installations, which is something our partners and customers have been requesting.”

Starting this month, the BASE Engineering Ranger and ProControl Series of handheld devices, along with compatible A and C receivers, can be outfitted with the new Long-Range Chipset. To facilitate the upgrade, customers with existing DSS-based handhelds and receivers can purchase a drop-in upgrade kit through the BASE Engineering Technical Support team. The Long-Range Chipset for the ASK Series of handheld devices will become available later in 2025.

For more information visit www.baseng.com

Tennessee Gas Pipeline, L.L.C., a subsidiary of Kinder Morgan, Inc., has confirmed its commitment to the Mississippi Crossing Project after securing long-term, binding transportation agreements for the project’s full capacity.

“The MSX Project will deliver significant benefits to the Southeast region by providing increased access to diverse natural gas supplies,” said Sital Mody, president of Natural Gas Pipelines. “This additional capacity will help meet growing energy demand and reduce costs, creating opportunities for power generators and other energy suppliers to support new residential, commercial, and industrial developments. We are also in discussions with customers for up to an additional 0.4 billion cubic feet per day of commitments, which could necessitate further capital investment for additional horsepower.”

The MSX Project, valued at approximately $1.4 billion, is designed to transport up to 1.5 Bcf/d of natural gas. The project includes the construction of nearly 206 miles of 42-inch and 36-inch pipeline and two new compressor stations. It will originate near Greenville, Mississippi, and terminate near Butler, Alabama, with connections to TGP’s existing network and third-party pipelines. These enhancements will enable critical supply access from multiple natural gas basins. Subject to obtaining necessary permits and approvals, the project is slated to begin operations in November 2028.

Kim Dang, CEO of Kinder Morgan, highlighted the significance of this investment: “The natural gas market fundamentals remain strong, with substantial growth anticipated in the next five years driven by LNG exports, exports to Mexico, and power generation needs. With the MSX Project and the SNG South System 4 Expansion, Kinder Morgan has committed approximately $3.1 billion (KMI share) in expansion capital. We look forward to announcing additional projects in the near future.”

The MSX Project reinforces Kinder Morgan’s commitment to addressing the Southeast region’s energy needs while supporting market growth and economic development.

For more information visit www.kindermorgan.com

Bullard Company is pleased to announce the addition of Ben Gause to its team. Ben will focus on expanding distribution and outside sales opportunities, bringing his extensive experience in the access equipment industry to the organisation.

Ben’s professional background includes several years with the Carbis Sales Group and other industry leaders, as well as co-founding Modular Access Systems. Most recently, he has worked in the healthcare industry while continuing to grow Modular Access Systems. Bullard Company is proud to support Ben as he transitions fully into the industrial sector to enhance the company’s brand awareness and sales.

With a priority on strengthening relationships with key distributors and customers, Ben aims to improve Bullard Company’s presence in the industry and provide enhanced support to its partners. His collaboration with Don Chaney will ensure a seamless integration into the team and alignment with the company’s strategic goals.

Both Bullard Company and Ben are excited about this new chapter. His skills and experience will be instrumental in driving growth and success. Please join Bullard Company in welcoming Ben Gause to the team as they look forward to a long and productive partnership.

For more information visit www.bullardeng.com

UAB-Online, a prominent authority in liquid bulk logistics, has underscored the pivotal role of Texas Gulf Ports in supporting international trade. With rising global demand for energy and chemicals, ports along the Texas Gulf Coast have leveraged their specialised infrastructure, efficient operations, and strategic location to lead in transporting critical commodities.

Specialised Infrastructure for Liquid Cargo

Ports such as Corpus Christi and Port Arthur are equipped with advanced liquid cargo facilities designed for crude oil, refined products, and chemicals. Corpus Christi, for instance, boasts 13 liquid docks specifically tailored for petroleum and liquid commodities. This infrastructure ensures streamlined operations, enabling the safe and efficient movement of large cargo volumes between vessels and shore.

Rapid Vessel Turnaround Times

Texas Gulf Ports excel in providing swift access to open waters, significantly enhancing vessel turnaround times. Ports like Freeport and Texas City feature deep-water channels that enable ships to reach the Gulf of Mexico within 1 to 1.5 hours. This efficiency reduces delays, optimises shipping schedules, and meets the stringent demands of global supply chains.

Deepening and Expanding Channels

Ongoing projects at ports such as Houston and Corpus Christi aim to deepen and expand shipping channels, accommodating larger liquid bulk carriers like Aframax and Suezmax tankers. The Houston Ship Channel, already the largest in the United States by tonnage, exemplifies how these upgrades will ensure Texas ports remain competitive globally and capable of handling increasing export volumes.

Energy Export Leadership

Texas Gulf Ports are global leaders in exporting crude oil, liquefied natural gas (LNG), and petrochemicals. The Port of Texas City specialises in handling petroleum, distillate fuel oil, and petrochemical products, while Port Houston plays a key role in exporting resins, chemicals, and other liquid goods. This dominance solidifies Texas’s position as a hub for energy distribution worldwide.

Economic Impact

The economic contribution of liquid bulk cargo operations at Texas ports is substantial. The Houston Ship Channel alone generates $906 billion in total economic value annually, including activities spanning public and private sectors. Similarly, Corpus Christi and other ports drive job creation and industrial development, bolstering both local and national economies.

Conclusion

With specialised infrastructure, efficient operations, and expanding export capacities, Texas Gulf Ports are integral to global liquid bulk logistics. Their ability to meet growing energy and chemical demands ensures that Texas remains a vital force in maritime trade and a cornerstone of the global supply chain.

For more information visit www.uab-online.com

Vopak Coatzacoalcos Terminal in Mexico has reached an impressive milestone of 25 years without a reportable incident. Over the past quarter-century, the terminal has maintained a flawless safety record, with no injuries to its workforce and no spills.

This remarkable achievement highlights the team’s unwavering commitment to safety and operational excellence. It serves as a testament to Vopak’s dedication to ensuring the well-being of its employees and the environment.

“Safety is Vopak’s highest priority,” stated a company representative. “Our goal is to ensure that every team member returns home safely at the end of each working day. This accomplishment reflects the hard work and vigilance of our Coatzacoalcos team.”

Congratulations to the entire team for this outstanding milestone, setting a benchmark for safety standards across the industry.

For more information visit www.vopak.com

Penspen, a leading international energy consultancy, has been awarded a contract by Trans Adriatic Pipeline AG to provide hydrogen gap analysis services on one of the most strategic energy infrastructure projects in Europe.

Under this new contract, Penspen’s UK-based engineering team will perform a comprehensive desktop and field assessment review of TAP’s above ground installations, block valves and compressor stations to assess the feasibility of introducing hydrogen blends to the existing gas pipeline, supporting TAP’s strategy of capacity expansion for new volumes of hydrogen and other renewable gases to foster long-term sustainability and decarbonisation in the region.

The 877km TAP natural gas pipeline connects to the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, crossing Albania and the Adriatic Sea to connect to the gas network in southern Italy. Operational since the end of 2020, TAP is a key part of the Southern Gas Corridor and plays a significant role in boosting Europe’s energy security and supply diversification.

Darren Bartlett, Energy Transition director at Penspen, commented: “Using our considerable in-house infrastructure repurposing experience, Penspen supports energy operators worldwide by enhancing access to lower-carbon fuels. By assessing the suitability of existing infrastructure, like the TAP pipeline, for hydrogen blends, we continue to support the delivery of cleaner energy to the communities we work in.”

 Luca Schieppati, TAP’s MD, commented: “TAP has the potential to become a significant contributor to Europe’s goal of achieving climate neutrality by potentially supplying the EU with carbon-neutral energy sources, such as hydrogen blended with natural gas. Evaluating whether our above-ground installations are hydrogen-ready for hydrogen blending with natural gas, with the support of an experienced supplier like Penspen, is an important step in this broader process. These efforts clearly demonstrate our commitment to innovation and a sustainable energy future for Europe.

Angus Reid, Project Manager for the TAP project at Penspen, said: “We are delighted to be able to support another major international operator in meeting their energy transition goals. Hydrogen enablement of strategic transportation infrastructure is a key factor for long term regional decarbonisation. Supporting the introduction of hydrogen into a major pipeline, will promote hydrogen generation projects in Southeastern Europe, as well as a multitude of hydrogen use opportunities.”

Award builds on Penspen’s hydrogen track record

 Leveraging its extensive experience from thousands of completed hydrocarbon projects, Penspen informs the development of future fuel infrastructure, including repurposing existing systems for hydrogen and CO₂ transportation and processing.

The contract from TAP is the latest in a string of hydrogen services awards for the company in the UK and Europe. Last month, Penspen announced they were supporting Latvian gas operator Conexus Baltic Grid with hydrogen blend feasibility and integrity services for its existing natural gas pipeline network.  They have also supported Portuguese national gas transmission operator REN-Gasodutos by providing hydrogen readiness assessments down to component level for up to 100 percent hydrogen blends, and engineering services for the design of nine hydrogen blending stations that will be used to inject and blend hydrogen into the natural gas transmission and distribution system.

In the UK, Penspen supported EET Hydrogen with front end engineering design (FEED), consenting, land, environment, and stakeholder engagement services for the HPP1 low carbon hydrogen plant, an integral part of HyNet, one of two UK Government’s Track 1 clusters for industrial decarbonisation.

For more information visit www.penspen.com 

Storagetech, a global leader in safety and emission control equipment for storage tanks and pipelines, proudly announces the opening of its new manufacturing facility in Mersin, Turkey. This advanced plant is designed to produce essential safety solutions, including pressure vacuum valves, flame arrestors, emergency relief valves, and other vital equipment for industrial applications.

The new facility underscores Storagetech’s dedication to sustainability and innovation. Powered by a solar energy system, the factory generates clean, renewable energy to meet its operational needs while contributing surplus electricity to the local industrial zone, promoting eco-friendly practices and regional energy efficiency.

Driving Innovation with Dedicated R&D
Storagetech’s commitment to cutting-edge product development is reinforced by its collaboration with its sister R&D company located at Çukurova Teknopark. This dedicated R&D centre, which operates under the name ERGIL R&D, focuses on creating innovative solutions for emission control and storage safety. The partnership enables Storagetech to refine its product range, adopt the latest technologies, and address emerging industry challenges effectively.

Mr. Riza Altunergil, VP business development of Äager  , commented on the new facility:“Our new manufacturing unit in Mersin is a testament to our core values—quality, sustainability, and innovation. By integrating renewable energy systems and collaborating with our R&D experts at Çukurova Teknopark, we aim to stay ahead of the curve in delivering safe, efficient, and environmentally conscious solutions for industrial safety. This investment not only enhances our capacity but also reinforces our role as a responsible industry leader.”

Expanding Global Reach
The manufacturing facility is equipped with state-of-the-art machinery and streamlined processes, enabling Storagetech to meet the increasing global demand for safety and emission control equipment. The products developed here adhere to stringent international quality and environmental standards, ensuring reliability and compliance in diverse industrial settings.

A Commitment to Sustainability and Safety
Storagetech’s investment in renewable energy and collaborative R&D highlights its mission to advance industrial safety while reducing its environmental footprint. By seamlessly integrating sustainability and innovation into its operations, Storagetech continues to deliver products that meet the evolving needs of the oil, gas, and petrochemical industries.

For more information visit www.storagetech.de

As it enters its 65th year of operation, Demaco Holland B.V., Noord-Scharwoude, The Netherlands, is excited to announce the release of its new company logo and brand identity. The new logo is designed to show the status of Demaco as a full-fledged member of OPW Clean Energy Solutions, a business unit of OPW, a Dover company, following its acquisition in the summer of 2024.

“Our 65-year commitment to recognising the needs of our clients and developing solutions that meet their exacting demands has allowed us to build a reputation as a leader in the industry,” said Niels Beers, CEO of Demaco. “It also gives us the experience to know that joining with OPW Clean Energy Solutions marks a significant milestone for the company as we continue to expand our reach in the constantly growing global cryogenics market through enhanced engineering and manufacturing capabilities and a broadening of our product base. That’s why we’re extremely happy and proud to unveil this new brand identity, which positions us as an official member of OPW and the OPW Clean Energy Solutions team.”

Founded in 1960 by Theo Dekker as Dekker Machines and Construction (Demaco), a mechanical engineering firm and manufacturer of heavy machinery, Demaco expanded its reach into the cryogenics market in 1985, with the decision made to focus on vacuum technology in 1989. In 1996, under the leadership of Ronald Dekker, Theo’s son, Demaco’s full attention was turned to the cryogenics industry. Since then, Demaco has grown into a go-to source for vacuum-insulated components and systems that are designed to optimise the performance, reliability, and safety of cryogenic fluid handling infrastructures.

For more information visit www.demaco.com

Phillips 66 has entered into a definitive agreement to acquire EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, collectively known as EPIC NGL, for $2.2 billion in cash, subject to customary purchase price adjustments. The acquisition includes long-haul natural gas liquids pipelines, fractionation facilities, and distribution systems. The transaction is expected to close following regulatory approvals and other standard conditions, and it is anticipated to be immediately accretive to Phillips 66’s earnings per share upon completion.

“This transaction bolsters Phillips 66’s position as a leading integrated downstream energy provider,” said Mark Lashier, chairman and CEO of Phillips 66. “It optimises our Permian NGL value chain, enhances flow assurance for producers, and connects critical production areas to fractionation and export facilities along the Gulf Coast. This acquisition is expected to deliver returns exceeding our hurdle rates.”

EPIC NGL Business Overview
The EPIC NGL portfolio includes two fractionators with a combined capacity of 170,000 barrels per day near Corpus Christi, Texas, approximately 350 miles of purity product pipelines, and an 885-mile NGL pipeline with a current capacity of 175 MBD. The pipeline links production from the Delaware, Midland, and Eagle Ford basins to fractionation facilities and export hubs, including Phillips 66’s Sweeny Hub.

EPIC NGL is actively expanding its pipeline capacity to 225 MBD, with a second phase already sanctioned to increase capacity to 350 MBD. Additionally, a third fractionation facility has been identified, which could boost overall fractionation capacity to 280 MBD. These assets integrate seamlessly with Phillips 66’s existing infrastructure, enhancing connectivity between Permian production and Gulf Coast refiners, petrochemical markets, and global export destinations.

Phillips 66 has stated that the acquisition will not impact its previously announced 2025 capital programme.

Strategic Impact
This acquisition strengthens Phillips 66’s position in the downstream energy sector by expanding its NGL infrastructure and value chain capabilities. The transaction is expected to generate attractive returns while providing producers with comprehensive flow assurance and access to critical Gulf Coast markets.

For more information visit www.phillips66.com

NextDecade Corporation has announced that its wholly owned subsidiary, Rio Grande LNG Super Holdings, LLC, has entered into a credit agreement with General Atlantic Credit’s Atlantic Park Fund. The agreement establishes a $175 million senior secured loan (the “Senior Loan”), with proceeds disbursed at closing on December 31.

The net proceeds from the senior loan, after fees and transaction expenses, will be used to repay outstanding borrowings, including the Company’s $50 million revolving credit facility and a $12.5 million interest term loan. Additional funds will support working capital, general corporate purposes, and development expenses related to expansion trains 4 and 5 at the Rio Grande LNG Facility.

Loan Details and Terms
The senior loan matures six years from the closing date and carries an interest rate of 12.0 percent, payable quarterly. For the first two years, interest payments may be paid in-kind, with up to 50 percent payable in-kind thereafter.

As part of the agreement, NextDecade issued approximately 7.16 million warrants to GA Credit. Each warrant grants the right to purchase one share of NextDecade common stock and is exercisable for five years from the closing date. Half of the warrants are exercisable at $7.15 per share, representing the 30-day volume-weighted average trading price preceding the closing date, while the remaining half are exercisable at $9.30 per share.

Santander served as the exclusive financial advisor to NextDecade, with legal counsel provided by Latham & Watkins LLP. GA Credit was advised by Akin Gump Strauss Hauer & Feld LLP and Baker Botts L.L.P.

This financing marks a significant step forward for NextDecade as it continues the development of the Rio Grande LNG project, positioning the company to meet future energy demands and expand its operational capabilities.

For more information visit www.next-decade.com

bp has achieved a significant milestone at the Greater Tortue Ahmeyim Phase 1 liquefied natural gas project, with gas now flowing from wells to the floating production storage and offloading vessel for the next stage of commissioning.

Located offshore Mauritania and Senegal, GTA is one of Africa’s deepest offshore developments, with gas resources at depths of up to 2,850 metres. Once fully commissioned, GTA Phase 1 is expected to produce approximately 2.3 million tonnes of LNG annually. Declared a “project of strategic national importance” by both host governments in 2021, GTA represents a transformative opportunity for the region.

This milestone highlights the potential of Mauritania’s and Senegal’s natural gas resources to establish the nations as key players in global LNG production.

“This is a fantastic landmark for this important megaproject,” said Gordon Birrell, bp’s executive vice president of production & operations. “First gas flow is a material example of supporting the global energy demands of today and reiterates our commitment to help Mauritania and Senegal develop their natural resources. Congratulations to the project and production teams for delivering this project and for always keeping safe operations at the heart of what they do.”

The GTA Phase 1 gas is being introduced to the FPSO vessel, located approximately 40 kilometres offshore, where water, condensate, and impurities are removed. The processed gas is then transported via pipeline to a floating liquefied natural gas vessel, situated 10 kilometres offshore, where it is cryogenically cooled, liquefied, and stored for export. A portion of the gas will also support growing energy demand in Mauritania and Senegal.

“With this milestone, Mauritania and Senegal take a major step towards an exciting new chapter as gas-exporting nations,” said Dave Campbell, Senior Vice President for Mauritania and Senegal. “I am proud of the relationships we continue to strengthen in both countries. Without the resilience and dedication of the bp team, as well as our partners, host governments, and the people of Mauritania and Senegal, none of this would have been possible.”

The construction of GTA Phase 1 has generated more than 3,000 local jobs and engaged around 300 local companies across Mauritania and Senegal. In addition to boosting local employment, bp and its partners have invested in workforce development, including a four-year apprentice training programme, and launched a multi-million-dollar social investment initiative to improve quality of life and foster long-term opportunities for local communities.

As gas flow begins at GTA Phase 1, bp continues its commitment to advancing global energy solutions while fostering sustainable development in Mauritania and Senegal.

For more information visit www.bp.com

ONEOK, Inc. has announced two significant executive leadership appointments, both effective immediately.

Randy N. Lentz, the chief executive officer and founder of Medallion Midstream, has been named executive vice president and chief operating officer. In this newly created role, Lentz will oversee all of ONEOK’s asset operations, bringing his extensive industry expertise to the position.

Sheridan C. Swords, formerly executive vice president of commercial liquids and natural gas gathering and processing, has been appointed executive vice president and chief commercial officer. Swords will continue to manage his previous responsibilities while also taking on oversight of ONEOK’s Natural Gas Pipelines segment.

Pierce H. Norton II, president and chief executive officer of ONEOK, commented on the appointments:
“We are pleased to announce Randy’s and Sheridan’s new roles. Their extensive experience in the industry and leadership will be invaluable to our company as we continue our intentional and disciplined approach to building a diversified, fully integrated energy infrastructure company.”

Both Lentz and Swords will report directly to Norton in their respective capacities.

For more information visit www.oneok.com

Colonial Group is pleased to announce that Crown Carbon Reduction Technologies has officially become part of its family through a strategic merger with Colonial Chemical Solutions. This integration marks a pivotal milestone, expanding the combined capabilities and resources available to customers across various industries.

Rob Roberts, president of Colonial Chemical Solutions, Inc., expressed enthusiasm for the merger:
“This merger marks an exciting chapter for both Crown Carbon Reduction Technologies and Colonial Chemical Solutions. By combining our strengths, we’re better equipped to meet the evolving needs of our customers and continue to deliver exceptional value.”

This merger highlights Colonial Group’s dedication to delivering innovative and customer-focused solutions by harnessing the combined expertise of both organisations. Customers can anticipate several benefits, including:

• Elevated Customer Experience: Streamlined processes and enhanced support services to improve all aspects of the customer journey.
• Expanded Offerings: A wider range of tailored products and services to meet diverse customer needs.
• Enhanced Innovation: Increased resources for driving technological advancements and delivering state-of-the-art solutions.
• Strengthened Partnerships: Deeper collaboration to achieve shared success and long-term growth.

Customers are encouraged to reach out to their account managers or the customer support team for more information about the merger. Updates can also be found on Colonial Group’s and Colonial Chemical Solutions’ websites.

Colonial Chemical Solutions, Inc., a division of Colonial Group, Inc., is headquartered in Savannah, Georgia, and is a leading provider of chemical distribution services across the United States. Serving industries such as manufacturing, energy, agriculture, and healthcare, the company is known for its extensive product portfolio, robust logistics network, and commitment to safety and sustainability.

For more information visit www.colonialchemicals.com

Stolthaven Terminals’ joint-venture facility in South Korea, Jeong IL Stolthaven Ulsan, has been honoured with the prestigious 2024 Best Tank Terminal award by the Ulsan Port Authority.

The UPA evaluated 12 commercial tank terminals at Ulsan Port, considering four key categories: environmental responsibility, social responsibility (including safety), business operations, and contributions to the local community. JSTT emerged as the top-performing terminal, recognised for its exceptional safety and environmental management systems, as well as its substantial investments in sustainable business practices.

Guy Bessant, president of Stolthaven Terminals, expressed gratitude for the accolade, stating: “Thank you very much to the UPA for this award. We are extremely pleased to be recognised for our performance in these critically important ESG categories. Thank you also to the whole team at JSTT for their commitment to safe and sustainable practices and excellent services to our customers.”

For more information visit www.stolt-nielsen.com

Provaris Energy Ltd has announced a significant advancement in its collaboration with Uniper Global Commodities SE and Norwegian Hydrogen AS. The partnership has reached the execution of a conditional Term Sheet for the supply, transport, and offtake of RFNBO-compliant hydrogen. This term sheet sets the stage for negotiating a binding Hydrogen Sale and Purchase Agreement (Hydrogen SPA), targeted for completion in June 2025.

This milestone builds upon the Memorandum of Understanding announced in August 2024 and facilitates continued cooperation in developing hydrogen supply chains. These chains will leverage Provaris’ compressed hydrogen carriers to transport hydrogen from Norway and other Nordic sites to import locations in Northwestern Europe.

Key Perspectives from the Collaboration Partners

Martin Carolan, managing director and CEO of Provaris, highlighted the importance of the development:
“We are delighted to see the collaboration progress to a Term Sheet for hydrogen supply and offtake. This represents a key milestone for Provaris and validation towards developing regional bulk-scale hydrogen supply chains within Europe using Provaris’ H2Neo compressed hydrogen carriers.”

Norwegian Hydrogen’s CEO, Jens Berge, expressed enthusiasm for the collaboration:
“We’re very excited about this tri-party collaboration, and it’s rewarding for all three parties to see our efforts progress into increasingly concrete and advanced stages.”

Benedikt Messner, senior vice president, New Energies Origination at Uniper Global Commodities SE, emphasised the potential of the transport concept:
“We think that the innovative transport concept by Provaris might be a solution to connect commercially interesting hydrogen supply locations with our core markets and look forward to the continuation of our collaboration.”

Efficient and Cost-Effective Hydrogen Supply Chain

Analysis by the partners underscores the efficiency of transporting hydrogen directly, rather than its derivatives. By sourcing hydrogen regionally from the Nordics and transporting it through Provaris’ compressed hydrogen carriers, the supply chain can minimise losses from production to distribution. This approach reduces energy consumption, enabling more renewable energy to be allocated to hydrogen production and increasing the volume of hydrogen delivered to European markets.

Hydrogen Supply Chain Development

Provaris and Norwegian Hydrogen are advancing the development of RFNBO-compliant hydrogen production, storage, and transport solutions. Preferred sites under consideration include locations in Norway and Finland, with the FjordH2 Project in the Alesund region of Norway undergoing detailed feasibility studies.

Provaris’ proprietary solutions for hydrogen storage and shipping will feature one H2Leo barge at the production site, with a capacity of 450 tonnes of compressed hydrogen at 250 barg, and two H2Neo hydrogen carriers, each with a similar capacity. Both the H2Neo and H2Leo are progressing toward final class approvals, anticipated in the first half of 2025.

Uniper will lead the selection and development of the import terminal, working with Provaris to optimise storage infrastructure and connections to the European Hydrogen Backbone for distribution to industrial sectors. The simplicity and flexibility of the port infrastructure design allow for the nomination of multiple entry ports, further enhancing the adaptability of the supply chain.

The Term Sheet remains conditional on the negotiation and execution of a fully termed Hydrogen SPA, as well as obtaining necessary approvals. This collaboration demonstrates a shared commitment to advancing hydrogen supply chains, reducing emissions, and supporting Europe’s transition to sustainable energy solutions.

For more information visit www.provaris.energy

McDermott has unveiled a world-class welding and technology centre of excellence at the Oilfields Supply Centre in Dubai’s Jebel Ali Freezone. The facility, spanning over 4,100 square metres, is designed to enhance the company’s research, development, and qualification capabilities, offering a centralised hub for customer and project-focused activities. With capacity for 250 personnel, the centre marks a significant milestone in McDermott’s commitment to innovation in subsea pipeline fabrication and installation.

A Centralised Hub for Pipeline Excellence

The new premises consolidate McDermott’s global pipeline development and qualification expertise into a single, purpose-built facility. Mike Sutherland, senior vice president of Offshore Middle East, emphasised the strategic importance of the centre, stating:
“This facility houses our Pipeline Production Group and secures our position as an industry leader in subsea pipeline fabrication and installation. The centralisation of our expertise will springboard the development of world-leading pipeline fabrication and qualification processes and technologies. Furthermore, it enables us to better service our projects and customers around the globe through increased efficiency, cost reduction, and predictability of performance.”

Comprehensive Capabilities and Cutting-Edge Technology

The centre is equipped to deliver a full suite of services, including welding, pipeline coating, non-destructive testing, equipment management, production simulation, and targeted research and development. Advanced vessel simulation capabilities are a highlight of the facility, featuring:

• A full S-Lay line-up and firing line simulation area
• A J-Lay rotating table for vertical pipelay

These technologies support remote intervention of McDermott’s pipelay vessel fleet and offer simulated environments for training, increasing safety and operational efficiency.

The facility solidifies McDermott’s leadership in the subsea pipeline sector by streamlining operations and fostering innovation. It is poised to provide customers with advanced technical solutions, driving cost-effective and predictable project execution worldwide.

This strategic investment underscores McDermott’s commitment to setting industry benchmarks in pipeline fabrication and technology development.

For more information visit www.mcdermott.com

VTTI is pleased to announce the launch of an open season for Project Amplifhy, an initiative aimed at developing a European network of ammonia import terminals and ammonia crackers. The open season is designed to assess interest and facilitate capacity reservation and allocation for ammonia storage and cracking at VTTI’s terminals in Rotterdam and Antwerp.

This offering of ammonia import and cracking facilities highlights VTTI’s commitment to supporting sustainable energy solutions at two of Europe’s most crucial energy hubs. In accordance with the EU Gas Regulation and the EU Gas Directive, the open season will follow a non-discriminatory and transparent process. Interested parties are invited to submit a non-binding expression of interest by February 28, 2025.

Project Amplifhy has been recognised as a Project of Common Interest by the European Commission for both Rotterdam and Antwerp. The Rotterdam site has been awarded EUR 11.6 million in EU co-funding through CB-RES, while co-funding for the study phase of Antwerp has been applied for under CEF-Energy. This positions VTTI as the only ammonia terminal and cracker developer with advanced projects in both key industrial hubs, while also actively exploring additional locations.

The open season is a pivotal step in fostering the growth of Europe’s hydrogen market by aligning infrastructure with market needs. Through Project Amplifhy, VTTI is contributing to the development of the EU hydrogen economy and supporting the objectives outlined in the Renewable Energy Directive, as well as the EU’s RePowerEU and Fitfor55 strategies.

This open season is just one element in the broader development of the project. In addition to the open season, VTTI is preparing for further engagement with key stakeholders and plans to launch a formal participatory process for them in 2025.

For more information visit www.vtti.com

Advario has successfully closed a €650 million corporate refinancing deal, enhancing its financial flexibility to advance its strategic objectives and reinforce its role in the global energy transition. The financing was arranged with credit facilities provided by a consortium of international banks.

This landmark funding supports Advario’s Horizon 2030 strategy, which targets doubling the company’s business by 2030 with a focus on chemicals, gases, and new energy products, while achieving Net Zero Scope 1 and 2 emissions by 2040. The refinancing also strengthens Advario’s dedication to building transformative partnerships that prioritise safety and sustainability, contributing to a decarbonised and circular economy.

“This refinancing provides a solid foundation for our continued growth and deepens our commitment to sustainability,” commented Bas Verkooijen, CEO of Advario. “We are grateful for the strong support from our banking partners, whose trust and collaboration are instrumental as we pursue our ambitious strategy for the future.”

The transaction was coordinated globally by BNP Paribas, ING, and UniCredit. Following a successful syndication process, a group of 10 lenders participated in the credit facilities.

This financial milestone underscores Advario’s commitment to sustainability and innovation as the company positions itself as a leader in the energy transition while fostering growth in environmentally conscious industries.

For more information visit www.advario.com

LBC has successfully raised €225 million via a recent US private placement issue, marking a significant milestone in the company’s strategic growth initiatives. This achievement highlights LBC’s ability to access substantial long-term funding while maintaining strong liquidity to support future expansion.

The capital, allocated to fund the next phase of LBC’s growth, will be disbursed in two tranches: €100 million on 11 December 2024, and €125 million on 21 May 2025, at no additional cost. This funding will fully support the company’s final investment decision projects and provide surplus liquidity for additional opportunities.

Key highlights of the funding include:

The issue being oversubscribed 6.4 times, with initial plans to raise €175 million increased to €225 million due to strong demand.
The involvement of nine lenders, seven of which are new to LBC credit.
Pricing tightened within the lower range of guidance.
The transaction was managed with NAB and CA-CIB as joint placement agents. Legal representation included Latham & Watkins for LBC and White & Case for the lenders.

This success demonstrates LBC’s robust financial standing and its capacity to attract a diverse pool of investors. It reflects the company’s strong operational performance and its commitment to sustainable growth, as it continues to invest in infrastructure upgrades and capacity expansion to support new products and services.

LBC expressed excitement about the opportunities this funding unlocks, emphasizing its commitment to delivering value for stakeholders while contributing to a sustainable future.

For more information visit www.lbctt.com

Energy Transfer LP has announced that its subsidiary, Energy Transfer LNG Export, LLC, has entered into a 20-year Liquefied Natural Gas sale and purchase agreement with Chevron U.S.A. Inc. The agreement involves the supply of 2.0 million tonnes of LNG per annum from Energy Transfer’s Lake Charles LNG project.

Under the terms of the SPA, LNG will be delivered on a free-on-board basis, with pricing consisting of a fixed liquefaction charge and a gas supply component indexed to the Henry Hub benchmark. The agreement is contingent on Energy Transfer LNG’s final investment decision and the satisfaction of other conditions precedent.

“We are pleased that one of the most prominent LNG industry participants has selected Lake Charles LNG as a supplier,” said Tom Mason, president of Energy Transfer LNG. “We believe that Lake Charles is the most compelling LNG project on the Gulf Coast and we continue to make significant progress towards full commercialisation of this project.”

Freeman Shaheen, president of Chevron Global Gas, added:
“Chevron believes LNG plays an important role in meeting the world’s need for energy while helping advance lower carbon ambitions. This new long-term agreement demonstrates our focus on increasing access to affordable, reliable, ever-cleaner energy supplies to meet growing global demand.”

The Lake Charles LNG export facility will be developed on an existing brownfield regasification facility site, leveraging existing infrastructure such as four LNG storage tanks, two deepwater berths, and associated facilities. The site’s strategic location allows direct access to Energy Transfer’s Trunkline pipeline system, which connects to multiple intrastate and interstate pipelines. This provides seamless access to key natural gas production basins, including the Haynesville, Permian, and Marcellus Shale regions.

Energy Transfer, one of North America’s largest and most diversified midstream energy companies, continues to strengthen its position in major US production basins with this significant development in its Lake Charles LNG project.

For more information visit www.energytransfer.com

Stolt Tankers has been awarded a prestigious EcoVadis gold rating for sustainability performance, marking significant progress across all sustainability pillars in 2024. This recognition places the company among the top 4 percent of all organisations evaluated by EcoVadis and within the top 3 percent of the tankers industry.

EcoVadis, the world’s largest provider of business sustainability ratings, assesses corporate social responsibility practices and the effectiveness of sustainability management systems. Its certifications are based on international standards, including the Global Reporting Initiative and the United Nations Global Compact.

Maren Schroeder, president of Stolt Tankers, expressed pride in the achievement:
“Acting responsibly and sustainably is fundamental for everyone at Stolt Tankers. It is thanks to the commitment of our people that we have received this recognition and been able to make excellent progress towards our sustainability ambitions during the past year. We are delighted to have this gold rating from a globally respected provider such as EcoVadis, in recognition of all the efforts we make in this area.”

The 2024 gold rating represents a notable improvement from the silver rating earned in 2023. Stolt Tankers achieved a 10-point increase in the EcoVadis categories of environment, ethics, labour and human rights, and sustainable procurement. These improvements reflect a strengthened focus on energy management and employee engagement and development.

Stolt Tankers is not alone in its achievement, as all three of Stolt-Nielsen’s logistics businesses have now received EcoVadis gold ratings in 2024. Stolt Tank Containers was recognised in January, and Stolthaven Terminals followed in November.

This milestone reinforces Stolt Tankers’ commitment to advancing sustainable practices and contributing positively to the environment, its workforce, and the broader community.

For more information visit www.stolt-nielsen.com

For more information visit www.prax.com

Woodside and Chevron have reached a definitive agreement for a strategic asset swap designed to optimise their respective portfolios and strengthen operational focus. Under the terms of the agreement, Woodside will acquire Chevron’s interests in the North West Shelf Project, the NWS Oil Project, and the Angel Carbon Capture and Storage Project. In exchange, Woodside will transfer its full interests in the Wheatstone and Julimar-Brunello Projects to Chevron. Additionally, Chevron will make a cash payment to Woodside of up to $400 million.

Key Highlights of the Transaction:

• Streamlined Portfolio: The asset swap simplifies Woodside’s Australian operations, allowing a sharper focus on operated LNG assets.
• Optimised Joint Venture Ownership: Consolidating ownership of the NWS projects aims to unlock economic recovery of current production while creating opportunities for future developments.
• Enhanced Cash Flow: The deal is expected to immediately boost near-term cash flow, bolstering shareholder returns and enabling continued investments.

Strategic and Operational Impacts

Woodside CEO Meg O’Neill emphasised the strategic benefits of the transaction, stating:

“This transaction simplifies our portfolio, improving our focus and efficiency by consolidating our position in our operated LNG assets. It is immediately cash flow accretive and includes a cash payment upon both execution and completion.”

The deal coincides with the North West Shelf Project’s 40th anniversary and leverages the Western Australian Government’s recent extension of environmental approvals, ensuring continued energy supply for local and global markets.

The transaction enhances alignment for the proposed Browse to North West Shelf Project, improving commercial viability. Furthermore, the increased equity in the Angel CCS Project strengthens Woodside’s position in advancing a large-scale, multi-user carbon capture and storage hub in Western Australia.

This asset swap exemplifies a strategic move by both companies, enabling each to focus on core strengths while driving value for shareholders and advancing decarbonisation initiatives.

For more information visit www.woodside.com

Technip Energies, in partnership with GE Vernova, Balfour Beatty, and supported by Shell Catalysts & Technologies, has announced the receipt of a Full Notice to Proceed from NZT Power Limited for the Net Zero Teesside Power (NZT Power) project in the United Kingdom. This major milestone follows the financial close of the project, which coincided with the UK government’s commitment of £21.7 billion for carbon capture and storage initiatives.

The NZT Power project aims to establish the world’s first gas-fired power station with integrated carbon capture and storage. The facility is designed to capture up to 2 million tonnes of CO₂ annually, which will be transported and permanently stored by the Northern Endurance Partnership. With a capacity of up to 742 megawatts, the plant will supply flexible, low-carbon power to meet the energy needs of more than 1 million UK homes, supporting the nation’s transition to a cleaner energy future.

The project is expected to generate significant economic and environmental benefits, including the creation of over 3,000 construction jobs and 1,000 operational roles annually. It also represents a key step in the UK’s journey towards achieving net zero carbon emissions by 2050.

Technip Energies will lead the integration of advanced carbon capture technology through its Canopy by T.EN™ solution, incorporating Shell’s CANSOLV* CO₂ Capture System. The power plant will utilise GE Vernova’s cutting-edge 9HA.02 gas turbine, steam turbine, generator, and Heat Recovery Steam Generator, along with the first commercial application of GE Vernova’s Exhaust Gas Recirculation system, to maximise efficiency and carbon abatement.

Arnaud Pieton, CEO of Technip Energies, expressed enthusiasm for the collaboration: “This groundbreaking project demonstrates our leadership in integrated CCUS solutions. By leveraging innovative technologies and strong partnerships, we aim to set a new benchmark for low-carbon power generation while supporting the UK’s ambitious climate goals.”

Maví Zingoni, CEO of Power at GE Vernova, highlighted the transformative potential of CCUS technology: “Net Zero Teesside Power represents a flagship initiative that sets the foundation for broader industry adoption of decarbonisation technologies. Our advanced H-Class combined cycle technology will power the station and drive efficiency in carbon capture performance.”

Leo Quinn, CEO of Balfour Beatty Group, emphasised the project’s regional and national significance: “Net Zero Teesside will not only advance the UK’s clean energy transition but also contribute to economic growth in Northeast England, showcasing the power of collaboration and innovation.”

Elise H. Nowee, President of Shell Catalysts & Technologies, underscored the project’s global impact: “The inclusion of Shell’s CANSOLV* CO₂ technology demonstrates our capability to deliver scalable emissions reductions. Net Zero Teesside is a critical milestone in addressing the increasing demand for post-combustion carbon capture solutions.”

As a joint effort by Technip Energies, GE Vernova, Balfour Beatty, and Shell Catalysts & Technologies under the Carbon Capture Alliance, the project showcases a united commitment to innovation and sustainability. It serves as a testament to the role of collaborative efforts in advancing carbon capture technology and supporting the global energy transition.

For more information visit www.ten.com