Today marks an important day for the logistics sector in Europe as the Women in Logistics consortium launches. This pioneering industry-wide consortium aims to promote greater gender diversity and inclusion within the traditionally male-dominated logistics sector. Led by Dow and H.Essers, and supported by sector associations ECTA and Cefic, this initiative is joined by six other key players—Den Hartogh, Bertschi, Suttons Tankers, LyondellBasell, Eastman, and Covestro. The WIL-consortium is committed to driving meaningful change and fostering a more inclusive and diverse logistics industry landscape through collaboration beyond competition.

Despite gradual improvements, the gender imbalance in logistics remains significant. For instance, women constitute only 6 percent or less of the truck driver population in Europe. Addressing this gap, particularly during a time of driver shortages, is essential for creating a balanced and efficient workforce. Research has consistently shown that diverse teams drive stronger performance and better business outcomes. However, operational and leadership roles in logistics continue to be predominantly held by men, highlighting the need for targeted action to promote gender balance.

Achieving gender equality in the workforce could significantly impact the global economy, potentially adding $28 trillion, or 26 percent, to annual global GDP by 20251. The International Labour organisation analysed diversity management in 13,000 companies across 70 countries and concluded that more diverse companies perform better in terms of talent recruitment and retention, creativity, innovation, and turnover. Similarly, BlackRock’s analysis of 1,500 MSCI companies over the past decade found that companies with the most diverse workforces outperformed their less diverse peers in return on assets by 29 percent per year from 2013 to 2022.Yet, bridging the gender gap globally is projected to take 131 years, according to the World Economic Forum. While these figures provide a general overview, the challenge is even more pronounced in the logistics industry. These statistics triggered the founders to set-up a unique initiative and join forces beyond competition.

Based on data-driven top-down awareness, the WIL consortium wants to become an inspiring platform for company action plans and aims to drive commitment by optimising conditions that promote diversity while creating an inclusive and thriving logistics ecosystem.

The collaboration between the 10 parties in this consortium is unique within the industry. It is an exemplary model of co-opetition: collaboration beyond competition. The collaborative commitment of these 10 organisations transcends competition barriers and is illustrative for the importance of diverse perspectives and backgrounds.

Cathy Budd, CPO, and purchasing vice president of Dow emphasised that “Women in Logistics’ mission is to bridge the gender gap by building an inclusive ecosystem that overcomes stereotypes and gender bias. Rather than embarking on a single initiative, the group has decided to join forces with several industry players.” Hilde Essers, chairwoman of the board of H.Essers added that “by combining resources and efforts, a more substantial impact can be made. Achieving a more balanced male-female representation benefits everyone, and it all starts with this consortium.”

The consortium is initially focusing on the European chemical logistics industry, leveraging the expertise of its 10 board members, and addressing sector-specific needs such as compliance, safety, and sustainability through enhanced gender diversity. To provide a concrete roadmap, the WIL consortium has chosen to concentrate efforts on three key target groups: drivers, operators, and leadership. The consortium will develop a platform to raise awareness, address leadership endorsement, share best practices, inspire the logistics community, advocate for promoting instruments and to leverage the collective influence for these key target groups.

For more information visit www.women-in-logistics.eu

For more information visit www.ema.gov.sg

Tellurian Inc. and Aethon Energy Management LLC  have announced a definitive agreement for Aethon to acquire Tellurian’s integrated upstream assets for $260 million. Alongside this acquisition, the two companies have signed a Heads of Agreement for Aethon to purchase two million tonnes per year of liquified natural gas from Tellurian’s Driftwood LNG plant.

This acquisition will significantly expand Aethon’s presence in the Louisiana Haynesville and Bossier shale basins, adding approximately 31,000 net acres to its portfolio. These assets include gathering and treating systems with a capacity of up to 100 million cubic feet per day, increasing Aethon’s pro forma gathering and treating capacity to over 3 Bcf/d across its holdings.

The Heads of Agreement outlines the framework for a 20-year offtake agreement, indexed to Henry Hub plus a liquefaction fee. This agreement will include appropriate credit support, forming the basis for project financing of Driftwood LNG. Aethon plans to explore further opportunities to enhance the value of Driftwood LNG following this transaction.

The deal is expected to close in the second quarter of 2024, with Tellurian planning to use the proceeds to reduce borrowings and for general corporate purposes.

Martin Houston, Tellurian executive chairman, stated, “Today’s agreements with Aethon take us several steps closer to developing the Driftwood LNG project, for which Aethon is a vital partner. The offtake agreement for two mtpa provides the foundation to accelerate Driftwood and demonstrates that we have successfully aligned our commercial offerings to meet the needs of potential customers. For Tellurian, the proceeds from the sale of our upstream assets allow us to retire senior secured notes and strengthen our balance sheet for the long term. This is an important moment for our company, as Tellurian continues to make progress against our strategic plan.”

Albert Huddleston, Aethon Energy CEO, remarked, “The expanding scale of our vertically integrated business continues to deliver capital efficiency and industry-leading margins as we work to accelerate the role of natural gas in the broader energy transition. This Fund II and Fund III acquisition provides complementary growth opportunities alongside our extensive upstream and midstream footprint in the Haynesville with more than 20 years of existing inventory life. Our partnership with Tellurian will provide our downstream LNG customers with the lowest methane emission intensity in North America.”

Lazard served as financial advisor to Tellurian in this transaction, with Akin Gump providing legal counsel. Gibson Dunn provided legal counsel for Aethon.

For more information please visit www.tellurianinc.com

Kinder Morgan, Inc. announced that its board of directors has approved a cash dividend of $0.2875 per share for the second quarter of 2024, payable on August 15, 2024, to stockholders of record as of July 31, 2024. This represents a 2 percent increase over the dividend for the second quarter of 2023.

The company reported earnings per share of $0.26 and distributable cash flow per share of $0.49 for the second quarter, reflecting flat and 2 percent increases, respectively compared to the same period in 2023. Net income attributable to KMI was $575 million, down from $586 million in the second quarter of 2023. DCF for the quarter reached $1,100 million, up from $1,076 million in the previous year’s second quarter.

“In the second quarter, we enjoyed another solid quarter of strong operational and financial performance,” said executive chairman Richard D. Kinder. “We continued to internally fund high-quality capital projects while generating $1.7 billion in cash flow from operations and $1.1 billion in free cash flow after capital expenditures. Additionally, we welcomed Amy Chronis to our board of directors, where her financial acumen and robust knowledge of the energy industry will be invaluable.”

CEO Kim Dang highlighted increased financial contributions from the Natural Gas Pipelines, Products Pipelines, and Terminals business segments, with adjusted EBITDA up 3 percent compared to the second quarter of 2023. Dang also noted the company’s strong balance sheet, ending the quarter with a Net Debt-to-adjusted EBITDA ratio of 4.1 times.

Despite the current low-price environment for natural gas, Dang expressed optimism about the future, citing significant demand growth projections for natural gas, particularly for LNG exports, exports to Mexico, and new demand for electric generation associated with artificial intelligence operations, cryptocurrency mining, data centres, and industrial re-shoring.

Dang announced the successful binding open season on the proposed South System Expansion 4 Project, which aims to increase Southern Natural Gas Pipeline’s South Line capacity by approximately 1.2 billion cubic feet per day. Once completed, this project will help meet growing power generation and local distribution company demand in Southeast markets.

Kinder Morgan’s project backlog at the end of the second quarter was $5.2 billion, up from $3.3 billion in the first quarter of 2024. Approximately 80 percent of this backlog is devoted to lower-carbon energy investments, including conventional natural gas, renewable natural gas, renewable diesel, feedstocks associated with RD, sustainable aviation fuel, and carbon capture and sequestration.

“Our collaboration with partners and our investment in lower-carbon energy projects demonstrate Kinder Morgan’s commitment to maintaining energy security for the United States and supporting global efforts to reduce carbon emissions,” Kinder concluded.

For more information visit www.kindermorgan.com

Advario proudly announces its proposed partnership with ADNOC Group to support the development of a terminal project and enable liquid storage and infrastructure for TA’ZIZ, the chemicals and industrial hub in Al Ruwais Industrial City, Abu Dhabi.

The proposed partnership between Advario and ADNOC Group will encompass the development and operation of a terminal with a dedicated storage capacity of 520,000 cbm. This facility will include infrastructure for storing and loading chemicals for transport. Concurrently, Advario will collaborate with TA’ZIZ to build and operate pipelines providing feedstock to TA’ZIZ’s chemical plants. Advario will undertake this cooperation alongside its longstanding Middle East partner, Star Energy Group.

Bas Verkooijen, CEO at Advario, commented: “Advario is proud to be partnering with ADNOC Group to support the development of key infrastructure within the TA’ZIZ ecosystem. Together with our partner Star Energy Group, we are committed to leveraging our vast experience and expertise for the successful development and operation of the terminal, integral to the TA’ZIZ world-class chemicals hub. This collaboration perfectly aligns with our commitment to being partners for progress, advancing sustainable and innovative infrastructure solutions across the energy and chemical sectors.”

Mashal Saoud Al-Kindi, CEO of TA’ZIZ, said: “TA’ZIZ’s unique strength as a chemical ecosystem lies in the partnerships we maintain with world-class industrial players like Advario. Through our intended collaboration with Advario, we will enhance our ability to offer a seamless and integrated ecosystem that supports chemical businesses in manufacturing new value chains, previously unexplored in the UAE.”

TA’ZIZ, a joint venture between ADNOC Group and ADQ, plays a pivotal role in driving the UAE’s industrial development ambitions by producing chemical value chains previously unavailable in the region.

For more information visit www.advario.com

Neste has commissioned terminal capacity at ONEOK’s terminal in Houston, Texas, for blending and storing Neste MY Sustainable Aviation Fuel™. This significant step further expands the availability of Neste’s SAF to airlines operating from airports east of the Rocky Mountains to the East Coast.

The new capacity at ONEOK’s terminal provides Neste with up to 100,000 tonnes (approximately 33.5 million gallons) of storage and is directly connected to the energy pipeline infrastructure in the eastern US In 2021, Neste successfully supplied SAF to New York’s LaGuardia Airport using existing fuel distribution infrastructure. In September 2023, Neste also expanded its capability to supply renewable fuels to customers on the West Coast by commissioning terminal capacity in Los Angeles, California.

“Neste is fully committed to supporting the US aviation industry in its efforts to decarbonise. This expansion of our SAF supply capabilities, in collaboration with partners such as ONEOK along the fuel supply chain, underlines this commitment. It provides a reliable basis for supplying SAF to domestic and visiting airlines at airports across the eastern US and supports policies on state, federal, and local levels,” said Alexander Kueper, vice president, renewable aviation business at Neste.

“ONEOK is excited to deliver the energy products the world needs today while innovating for tomorrow. As a valued partner providing critical energy to the aviation industry, we’re proud to utilise our extensive infrastructure platform to facilitate growth within the sustainable fuels markets,” said Greg Lusardi, senior vice president, corporate development at ONEOK, one of the largest diversified energy infrastructure companies in the US

For more information visit www.neste.com

ADNOC announced today that it has signed an agreement to award a 3 percent participating interest in the SARB and Umm Lulu offshore concessions to SOCAR, the State Oil Company of Azerbaijan Republic. This award enhances the strategic energy partnership between the United Arab Emirates and Azerbaijan and deepens ADNOC’s growing collaboration with SOCAR across the energy value chain.

The SARB and Umm Lulu concession employs cutting-edge digitalisation and AI technologies for remote monitoring, smart well operations, and production management. These advanced technologies optimise production efficiency, reduce emissions, enhance safety, and increase production capacity.

Abdulmunim Saif Al Kindy, ADNOC upstream executive director, expressed his satisfaction with the partnership, stating: “We are very pleased to welcome SOCAR to the SARB and Umm Lulu concession. This award supports ADNOC’s strategy to leverage strategic partnerships and advanced technologies to maximise value from Abu Dhabi’s energy resources, ensuring a secure, reliable, and responsible supply of energy.”

This agreement builds upon previous collaborations between the two companies. These include ADNOC’s acquisition of a 30 percent equity stake in the Absheron gas and condensate field in the Caspian Sea and a Strategic Collaboration Agreement on the potential development of low-carbon energy technologies, including hydrogen and geothermal.

Rovshan Najaf, president of SOCAR, commented: “This is our first international upstream investment, and we are particularly delighted to make this investment in Abu Dhabi, building upon our bilateral strategic relationships. We are committed to advancing our energy partnership with ADNOC even further and continuing to cooperate in many more projects of mutual interest.”

Both fields at the SARB and Umm Lulu concession utilise Intelligent Well Surveillance technology, enabling the operation of wells at an optimum rate to drive operational efficiency. This strategic partnership exemplifies the commitment of both companies to harness innovative technologies and collaborative efforts to achieve sustainable energy solutions.

For more information visit www.adnoc.ae

Advario Finland Oy is proud to announce a significant achievement in its sustainability efforts. The share of renewable products in its terminal has now exceeded 60 percent of the total product portfolio. This remarkable growth underscores the company’s steadfast commitment to a greener, more sustainable future.

By increasing the storage of renewable products, Advario Finland Oy is not only reducing its carbon footprint but also enabling customers to make environmentally conscious choices. This milestone reflects the company’s dedication to driving positive change and promoting a cleaner, healthier planet for future generations.

As a key player in the industry, Advario Finland Oy is setting a powerful example of how businesses can contribute to sustainability goals and foster a culture of environmental responsibility. Together with its customers, the company is paving the way towards a more sustainable and eco-friendly future.

For more information visit www.advario.com

Ewart Cox, managing director of Assentech Sales Limited, proudly announced that their innovative ????-???? test benches, powered by advanced AI software technology, have received the Gold Award for Environmental Performance at the Global Tank Storage Awards in Rotterdam this March. This prestigious accolade underscores Assentech’s commitment to enhancing industry standards and ensuring manufacturers adhere to and maintain quality with API2000 tested and compliant breather valves.

Cox expressed his excitement about the recognition, highlighting the company’s determination to raise the bar in the industry. “Our unique innovation delivers repeatable, accurate, traceable, and rapid results, making it the only method capable of measuring the leak rate from tank breather valves (Scope 3 emissions) and digester breather valves (Scope 1 emissions). Vent-Less checks that the valve specifications align perfectly with the datasheet, verifying that the unit performs as intended. Additionally, the test benches provide CO2 metric data essential for recording emission reductions for environmental reporting. The generated certification is robust and can withstand rigorous scrutiny.”

The ????-???? test benches are designed to ensure that service companies guarantee accurate and irrefutable test results, allowing facilities to rely on the data to defend scrutiny, evaluate unit suitability, determine next steps, and demonstrate emission reduction and duty of care practices.

Cox also congratulated the entire Assentech team for their dedication and hard work, which has significantly contributed to improving safety, compliance, and profitability across the industry. “This award is a testament to our commitment to our clients and the industry’s future. Our Vent-Less test benches set a new standard for environmental performance, and we are thrilled to lead the way in this important area.”

The award reflects Assentech’s continuous efforts to innovate and advance their technology while providing the best support to their clients, ensuring that environmental performance remains at the forefront of their operations.

For more information visit www.assentech.co.uk

TechnipFMC has been awarded a substantial integrated engineering, procurement, construction, and installation contract by Energean for its Katlan development in the Mediterranean Sea. This project marks Energean’s first utilisation of TechnipFMC’s configure-to-order Subsea 2.0® production systems.

The contract follows an integrated front-end engineering and design study by TechnipFMC, which optimised the commercial and technological solution for the Katlan field. It encompasses the design, manufacture, and installation of the production systems, pipes, umbilicals, and subsea structures.

The subsea infrastructure will connect to the Energean Power floating production, storage, and offloading vessel, which currently serves the Karish and Karish North developments. TechnipFMC previously delivered fully integrated subsea solutions using their iEPCI™ execution model for these projects as well.

Jonathan Landes, president, Subsea at TechnipFMC, remarked: “Combining iFEED® to optimise field layout with our Subsea 2.0® platform and integrated project execution model accelerates the time to first production at Katlan. This is another iEPCI™ with Energean, demonstrating the collaborative relationship of our two companies which enables TechnipFMC to continue to deliver improved project economics.”

For more information visit www.technipfmc.com

Green Plains recently held a grand opening event to celebrate the inauguration of its Clean Sugar Technology™️ facility in Shenandoah, IA. This milestone marks the world’s first commercial-scale, dry mill clean sugar production facility, showcasing a significant leap forward in sustainable sugar production methods. The achievement is a testament to the dedication and hard work of all employees from Green Plains and Fluid Quip Technologies, LLC who contributed to making this groundbreaking facility a reality.

The grand opening event attracted over 100 attendees, including distinguished guests such as Iowa Governor Kim Reynolds, Senator Chuck Grassley, Senator Joni Ernst, Congressman Randy Feenstra, and Iowa Secretary of Agriculture and Land Stewardship Mike Naig, alongside various local and state industry representatives.

Green Plains’ patented Clean Sugar Technology™️ is poised to revolutionise sugar production by yielding game-changing dextrose and glucose corn syrups with a significantly reduced carbon footprint of up to 40 percent compared to traditional wet mill methods. These high-quality corn syrups are versatile ingredients that find applications in a wide range of food and beverage formulations. Additionally, they play a crucial role in fermentation and catalytic conversion processes for bio-based materials and renewable chemicals, opening doors to new customers and opportunities on a global scale.

For more information visit www.gpreinc.com

Riteks, Inc. is thrilled to announce the release of their latest YouTube video, spotlighting the groundbreaking RiLOCK Resin Sealant. This innovative product is set to revolutionise the oil industry by providing a durable and resilient barrier seal that ensures unmatched well integrity.

In this month’s edition of Fred’s Corner, Fred delves into the transformative capabilities of RiLOCK. This engineered resin can be mixed and pumped into wells, where it hardens into a robust flow barrier. The benefits of RiLOCK Resin Sealant include:

• Mechanical Integrity: Ensuring the structural soundness of well components.
• Chemical Resistance: Offering protection against corrosive substances.
• Long-term Thermal Stability: maintaining performance under high-temperature conditions.

The video demonstrates how RiLOCK is the ultimate solution for reliable well construction, showcasing its potential to enhance the safety and efficiency of oil extraction processes. Viewers are invited to watch the video to learn more about this cutting-edge product and to explore other informative videos in the Fred’s Corner series.

Discover how RiLOCK Resin Sealant is setting new standards in the oil industry by visiting Riteks, Inc.’s YouTube channel today!

For more information visit www.Riteks.com

Texas LNG Brownsville LLC, a subsidiary of Glenfarne Energy Transition, LLC, has signed a definitive 20-year tolling agreement with EQT Corporation for natural gas liquefaction services, covering 2 million tonnes per annum of LNG. This agreement will support Texas LNG’s four MTPA export terminal, to be constructed at the Port of Brownsville, Texas.

Brendan Duval, CEO and founder of Glenfarne and co-president of Texas LNG, expressed enthusiasm about the partnership, stating, “Glenfarne’s partnership with EQT will bring low-emission natural gas to transitioning and emerging markets, powering the globe’s phase out of legacy, carbon-intensive fuels. Beyond this partnership with EQT, Texas LNG is actively converting its other HOAs into definitive agreements in preparation for a final investment decision.”

Toby Z. Rice, president and CEO of EQT, echoed these sentiments, highlighting the global impact of this collaboration: “Converting our HOA with Texas LNG to a definitive tolling agreement brings us one step closer to unleashing EQT’s reliable, low emissions natural gas on the global stage. We stand ready to deliver supply to growing LNG markets, helping to strengthen energy security and reduce global emissions via foreign coal displacement.”

In addition to the agreement with EQT, Texas LNG has secured offtake agreements for the majority of the project’s remaining capacity, including a recent 0.5 MTPA agreement with a top-tier, credit-rated market participant.

Glenfarne Energy Transition, a developer, owner, and operator of energy transition infrastructure, is the majority owner and managing member of Texas LNG. Texas LNG plans to begin construction in 2024 and commence commercial operations in 2028. Glenfarne’s LNG portfolio also includes the 8.8 MTPA Magnolia LNG export facility under development in Lake Charles, Louisiana.

For more information visit www.GlenfarneEnergyTransition.com

Prior to Horisont Energi’s General Meeting, the company announced the election of Celine Pithoud as the new employee-elected board member. Pithoud will serve a two-year term from this year’s General Meeting until the 2026 General Meeting, with Hilde Alexandersen appointed as her personal deputy.

Celine Pithoud has been with Horisont Energi since 2022, initially serving as a procurement manager. She currently holds a project management role for the Polaris carbon storage project, bringing extensive experience from her previous positions at Wintershall Dea and Equinor. Pithoud holds three master’s degrees in business and administration, law, and supply chain management. She is a French citizen with permanent residency in Norway.

Following the General Meeting, the board of Horisont Energi now consists of:

• Dr Gabriël Clemens (chair)
• Leif Christian Salomonsen (deputy chair)
• Silje Augustson (board member, elected for a two-year term)
• Rolf Magne Larsen (board member)
• Rob Stevens (board member)
• Celine Claire Laure Pithoud (Employee-elected board member)

Rainer Bayerke will continue as a personal deputy to Dr Gabriël Clemens.

This new board composition reflects Horisont Energi’s commitment to incorporating diverse insights and expertise, reinforcing its strategic vision and governance as the company continues to innovate in the energy sector.

For more information visit www.horisontenergi.no

Guy Bessant, president of Stolthaven Terminals, alongside the Stolthaven team and representatives from their Taiwan joint-venture partner, Revivegen Co. Ltd., were honoured to meet with Mr. Lee Men-Yen, the new minister of transport for Taiwan, last week. They also met with a team from Kaohsiung Port, including chairman Lee Hsien-Yi, where the new terminal, Stolthaven Revivegen Kaohsiung Terminal Co., Ltd., is under construction.

The new facility is strategically positioned to support both local and global customers with business in Taiwan and the Asia Pacific region. Stolthaven’s specialist warehouse and distribution services are already operational, enhancing their capacity to serve the region.

Guy Bessant commented, “Stolt-Nielsen has a long history in Taiwan, and we are encouraged by the attitude of government and industry towards the development of ports and transport, which facilitate trade within Asia and beyond.”

He added, “SHRVK enables us to increase the reach of the supply chain solutions that we can offer our customers, providing resilience for local manufacturers and global customers who have business in Taiwan or would like to use the terminal as a distribution facility for the Asia Pacific region.”

The meetings underscored the collaborative efforts between Stolt-Nielsen, Revivegen, and the Taiwanese government to enhance trade and infrastructure development, reflecting a shared commitment to advancing the region’s logistics capabilities.

For more information visit www.stolt-nielsen.com/our-businesses/stolthaven-terminals/

Neste has released its annual Green Finance Report for 2023, detailing the company’s green financing activities and reaffirming its dedication to combating climate change and promoting a circular economy.

Since establishing its first Green Finance Framework in 2021, Neste marked a significant milestone in 2023. In March, the company set up a EUR 2.5 billion European Medium-Term Note Programme and issued its inaugural A3-rated EUR 1 billion dual tranche 6- & 10-year green bond. This was followed by a return to the debt capital markets in November with a EUR 600 million 7.5-year green bond, bringing Neste’s green debt portfolio to EUR 2.6 billion.

Allocation of Green Debt

Of the EUR 1.6 billion green debt issued in 2023 under Neste’s Green Finance Framework 2021, EUR 960 million was allocated to eligible assets and projects in line with the International Capital Markets Association’s Green Bond Principles 2018. These projects, aimed at boosting the company’s renewable product capacity, include:

• Singapore Expansion Project: Increasing renewables production capacity at the Singapore refinery.
• Rotterdam Expansion Project: Enhancing renewables production capacity at the Rotterdam refinery in the Netherlands.
• Rotterdam SAF Optionality Project: Modifying existing capacity to increase sustainable aviation fuel production at the Rotterdam refinery.
• Martinez Renewable Fuels Project: A joint venture with Marathon Petroleum to produce renewable diesel at the converted Marathon refinery in Martinez, California, USA.

The remaining EUR 640 million unallocated funds will be directed towards eligible assets and projects in 2024.

Martti Ala-Härkönen, CFO and executive vice president of finance, strategy, and IT at Neste, commented on the strong investor interest: “The year 2023 was a landmark for Neste in the debt capital markets. Neste issued three green bonds totaling EUR 1.6 billion, increasing our Green Debt Portfolio to EUR 2.6 billion. The strong and wide interest from international investors demonstrates a solid commitment to supporting Neste’s investments in renewable and circular solutions, crucial for leading the change towards a more sustainable future.”

Neste’s 2023 Green Finance Report highlights the company’s ongoing efforts to secure sustainable funding and invest in projects that contribute to a greener and more circular economy. With substantial green debt issued and significant projects underway, Neste continues to position itself as a leader in the transition to sustainable energy solutions.

For more information visit www.neste.com

Exolum has started operating a new photovoltaic plant for self-consumption of energy at its Misterton terminal in the UK. With an installed capacity of 386 kWp through 840 solar panels, the new plant aims to generate sustainable energy and reduce Exolum’s operations-related carbon emissions, as well as prevent volatility in the electricity market.

Electricity consumption is the main source of Exolum’s emissions, and the supply of energy from the solar plant will avoid 84 tonnes of CO₂ being emitted into the atmosphere every year – the equivalent of planting 8,396 trees.

The project, funded by the Ministry of Defence, supports the MOD’s Strategic Approach to Climate Change and Sustainability. The MOD is committed to leading climate change action and resilience through intersectoral collaboration with industry and international partners. Specifically, the Misterton solar park contributes to the goal of moving away from fossil fuels and working towards obtaining more sustainable energy sources. The commissioning of this new plant was attended by Colonel Peter Skinsley as a representative of the MOD’s Operational Energy Authority.

With the commissioning of this new solar energy self-consumption plant, Exolum reinforces its network of photovoltaic installations in addition to the four already in operation at its Spanish locations in Mora (Toledo), Huelva, Algeciras and Barcelona. Two more plants are being installed at Exolum’s Spanish locations in Poblete (Ciudad Real) and Arahal (Seville), as well as a further plant at its Hallen facility in the UK.

Exolum continues to take action to reduce its emissions by adopting innovative technologies, signing renewable energy purchase agreements, and diversifying its energy supply sources to ensure they are emission-free.

These actions are part of Exolum’s sustainability strategy, which aims to reduce CO₂ emissions by 53 percent by 2030 and achieve carbon neutrality by 2040 in line with Sustainable Development Goals. The strategy also includes specific projects and plans aimed at protecting biodiversity, the efficient use of natural resources and the fight against climate change.

In order to strengthen its commitment to renewable energies and the energy transition while reducing emissions and promoting clean, sustainable activity, Exolum is implementing projects related to the development of eco-fuels and other energy carriers such as hydrogen.

For more information visit www.exolum.com

Hexagon Composites ASA has announced the signing of two definitive agreements with Worthington Enterprises, marking significant strategic moves for both companies.

Worthington Enterprises will acquire 100 percent of Hexagon Ragasco at an enterprise value of NOK 1,050 million. The final value may be adjusted between minus NOK 50 million to plus NOK 100 million, depending on Hexagon Ragasco’s full-year 2024 performance.

Hexagon Ragasco is a market leader in LPG composite cylinders used for leisure, household, and industrial applications, with production facilities in Norway and sales to over 100 countries worldwide. Worthington Enterprises, through its Building Products business segment, delivers products and solutions for heating, cooling, and construction applications globally and is a leader in cylinders for LPG and refrigerant gases.

“Hexagon Ragasco has been an integral part of the Hexagon Group for over 20 years, and we take immense pride in the company’s achievements to date. Worthington Enterprises is a highly respected player in our industry. This transaction will enable Hexagon Ragasco to expand into new geographies and verticals,” said Jon Erik Engeset, CEO of Hexagon Composites.

“Hexagon Ragasco is one of the pioneers of the composite cylinder,” said Jimmy Bowes, president of Building Products at Worthington Enterprises. “For over 20 years, they’ve introduced innovative products to the market that elevate expectations regarding the performance, quality, and capabilities of LPG cylinders. We have followed their growth closely and believe that their composite cylinders are a perfect complement to our existing cylinder business. We look forward to collaborating with the exceptional team at Hexagon Ragasco.”

The sale of Hexagon Ragasco is expected to close on or around June 3, 2024. This announcement concludes the strategic review initiated by Hexagon in September 2023.

In conjunction with the sale of Hexagon Ragasco, Hexagon Composites has signed an agreement to acquire a 49 percent stake in Worthington’s Sustainable Energy Solutions business segment for an enterprise value of USD 20 million on a 100 percent basis. SES is a leading European supplier of high-pressure cylinders and systems for the storage and distribution of compressed natural gas, hydrogen, and industrial gases, generating revenues of EUR 127 million and an adjusted EBITDA of EUR 2.9 million in the calendar year 2023. Worthington will retain 49 percent of the shares, while senior executives will hold the balance.

“Through our dialogue with Worthington regarding the sale of Hexagon Ragasco, we identified an opportunity within Worthington’s Sustainable Energy Solutions business. These transactions support Hexagon’s strategic focus on high-pressure, clean energy solutions,” said Engeset.

The acquisition of a 49 percent stake in SES has been finalised as of 29 May 2024.

DNB Markets and Danske Bank acted as financial advisors, and Schjødt and Saxinger Rechtanwalts served as legal advisors to Hexagon Composites for these transactions.

For more information visit www.hexagongroup.com

RWE, the largest power generator in Wales, and Dragon, an industry leader in LNG, have announced the Milford Haven CO2 Project. This groundbreaking initiative aims to integrate carbon capture, liquefaction, temporary storage, and ship loading of captured CO2, facilitating its transportation from the Dragon site via non-pipeline transport.

The project seeks to connect industries on both the south and north sides of the Milford Haven Waterway, supporting decarbonisation by directly linking the RWE and Dragon facilities, and providing a CO2 shipping solution. As a crucial component of the South Wales Industrial Cluster Deployment Project, RWE serves as the lead partner.

RWE and Dragon are exploring options for CO2 transportation, including discussions with Acorn, a Track 2 Transport and Storage system operator. They have also responded to the call for evidence on non-pipeline transport and cross-border CO2 networks.

Richard Little, director of RWE’s Pembroke Net Zero Centre, and Simon Ames, MD of Dragon LNG and Dragon Energy, jointly commented on the initiative: “The Milford Haven CO2 Project will support the transition of Milford Haven industries towards a net-zero future while maintaining energy security for the UK and achieving Wales’ budget 3 goal for decarbonisation. RWE’s gas-fired Pembroke Power Station is developing a CCS project, and Dragon is developing a project for CO2 liquefaction and shipping. This will protect jobs, enhance the economy, and ensure supply security in future green economies centred around renewables.”

RWE is considering applying carbon capture technology at Pembroke Power Station, a key part of the Pembroke Net Zero Centre initiative. This plant could provide up to 2.2 GW of decarbonised, secure, and flexible energy, enough to power around 4.3 million homes and capture up to 5 million tonnes of CO₂ annually. Feasibility studies on technology options have been delivered, with the first public consultation expected in 2025.

For more information visit www.we.com

Advario played a crucial role in delivering the first batch of blended Neste MY Sustainable Aviation Fuel to Singapore Changi Airport, one of the largest aviation hubs in the Asia Pacific region. This achievement underscores the commitment of both Advario Singapore and Neste to support the aviation industry’s transition to a more sustainable future.

The SAF was produced at Neste’s Singapore refinery and blended at Advario’s Singapore terminal to meet jet fuel specifications. From there, it was delivered by Neste to the jet fuel storage terminal at Singapore Changi Airport, ready for use by its customers. This milestone signifies a pivotal moment in the partnership between Advario and Neste, emphasising their collaboration in establishing Neste’s integrated SAF supply chain into Changi Airport.

The ADS terminal’s attainment of International Sustainability and Carbon Certification reaffirms Advario’s capability to handle sustainable products with the highest standards of safety, reliability, and transparency. The ISCC is an independent multi-stakeholder initiative and leading certification system supporting sustainable, fully traceable, deforestation-free, and climate-friendly supply chains.

Advario remains committed to further sustainability initiatives and partnerships. This dedication is integral to the company’s goals and vision of advancing sustainability and innovation. Advario looks forward to continuing this journey and making a significant impact on the future of aviation and beyond.

For more information visit www.advario.com

The acquisition of the Prax terminal in Zeebrugge marks a significant milestone for Tankopslag Verbeke, as it leverages its extensive experience to refine this newly acquired asset. Renamed North Sea Tank Storage BV, the terminal is set to become a cornerstone for tank storage in the beautiful seaport of Zeebrugge.

Ryan and Andy Verbeke will lead the future of NSTS, bringing the same dedication and passion that has defined Tankopslag Verbeke. This acquisition not only expands the company’s capabilities but also strengthens its position in the tank storage market. The company remains committed to delivering the highest quality and service standards, as clients have come to expect from Tankopslag Verbeke.

The vision for NSTS is to become a leading player in Zeebrugge, meeting the highest standards of safety, efficiency, and reliability. The company is excited about its future in Zeebrugge and expresses gratitude for the trust and support from its clients and partners. Together, they are setting a course for new heights in the tank storage industry.

For more information visit www.tankopslagverbeke.be

Santos has announced the signing of a binding long-term LNG supply and purchase agreement with Hokkaido Gas Co., Ltd. This agreement will provide LNG from Santos’ portfolio of world-class LNG assets.

Under the terms of the long-term SPA, Santos will supply up to approximately 0.4 million tonnes per annum of LNG for ten years, beginning in 2027, on a delivered ex-ship basis. Additionally, Hokkaido Gas and Santos plan to collaborate on exploring carbon sequestration and e-methane opportunities to reduce carbon emissions across their respective portfolios.

Kevin Gallagher, Santos’ managing director and chief executive officer, stated that the contract aligns with Santos’ strategy of maintaining long-term LNG pricing, highlighting the value of Santos’ high-quality LNG portfolio. He emphasised that the agreement underscores the strong demand for high heating value LNG from projects such as Barossa and PNG LNG.

“This SPA is a significant step in developing Santos’ equity LNG portfolio and establishes a long-term relationship with Hokkaido Gas, a Japanese gas utility providing natural gas within the Hokkaido region of Japan,” Gallagher said.

He added, “Our agreement with Hokkaido Gas demonstrates Santos’ commitment to providing reliable, competitive energy supplies to support our valued customers in Asia. We also look forward to working together to explore CCS and e-methane opportunities to support Japan’s and Santos’ decarbonisation targets.”

For more information visit www.santos.com

New Fortress Energy Inc. announced the achievement of First LNG for its initial Fast LNG asset located offshore Altamira, Mexico. This milestone establishes FLNG as the fastest large-scale LNG project ever developed.

FLNG boasts a production capacity of 1.4 MTPA, or approximately 70 TBtus, completing the vertical integration of NFE’s LNG portfolio. This integration plays a pivotal role in supplying low-cost, clean LNG to the Company’s downstream terminal customers.

Wes Edens, chairman and CEO of New Fortress Energy, remarked, “First LNG represents a transformative moment for our company and the industry as a whole, and reaffirms our position as a fully integrated leader in the global LNG market.”

Chris Guinta, chief financial officer of New Fortress Energy, added, “We are immensely proud of the dedication and hard work by our team, who have completed more than 9 million work hours, to bring this large-scale project to life at a record pace. In doing so, our downstream customers now benefit from additional access to clean and reliable LNG, enabling sustained growth well into the future.”

FLNG adds more than $2 billion of infrastructure to the Company’s asset base, significantly enhancing NFE’s operational capabilities, financial flexibility, and credit profile.

For more information visit www.newfortressenergy.com

Marathon Petroleum Corp. has announced a significant leadership transition, effective August 1, 2024. Maryann T. Mannen, currently serving as president, will succeed Michael J. Hennigan as chief executive officer and join the board of directors. Hennigan will transition from CEO to executive chairman of the board, while current chairman John Surma will continue as lead director, maintaining his role as a strong independent voice on the Board.

Hennigan, who has led MPC as CEO since March 2020 and joined the board in April 2020, leaves a legacy of transformative success. Mannen, who became president in January 2024 after serving as executive vice president and chief financial officer since January 2021, is poised to take the helm. Surma, who has been an independent chairman since April 2020 and a board member since 2011, praised Hennigan’s leadership and the team’s relentless pursuit of shareholder value, highlighting the core values of safety, environmental stewardship, integrity, respect, inclusion, and collaboration.

Under Hennigan’s leadership, MPC achieved several key milestones:

• Transforming strategic priorities to lower costs, improve commercial performance, and increase portfolio competitiveness.
• Strategically selling the retail business, leading to a robust capital return programme.
• Returning approximately $37 billion to shareholders through dividends and share repurchases, resulting in a total shareholder return of 918 percent since March 2020.
• Significantly growing the midstream business operated by subsidiary MPLX LP, with expansions in the Marcellus, Utica, and Permian basins.

Surma expressed confidence in a seamless transition with Hennigan as executive chairman and full support for Mannen’s leadership as CEO. He emphasised the exciting times in the energy sector and the strength of MPC’s employees and assets.

Hennigan endorsed Mannen’s election, citing her 38 years of energy-sector experience, her contributions to MPC’s success, and her strong financial expertise. Mannen expressed her honour and commitment to leading MPC, emphasising priorities aligned with safety, environmental stewardship, and operational performance to enhance shareholder value.

Mannen’s background includes serving as MPC president since January 2024 and as executive vice president and CFO since January 2021. She has also been a board member of MPLX LP since February 2021. Before joining MPC, Mannen was executive vice president and CFO at TechnipFMC and FMC Technologies, Inc., where she held various positions of increasing responsibility since 1986. Mannen is also a board member of Owens Corning, a company specialising in insulation, roofing, and fiberglass composites.

For more information visit www.marathonpetroleum.com

Calumet Specialty Products Partners, L.P. announced that its unitholders voted to approve the previously announced conversion of its structure from a master limited partnership to a C-Corporation. Following the Conversion, unitholders of the Partnership will become shareholders of Calumet, Inc.

At the special meeting of unitholders held on July 9, 2024, over 99 percent of the votes cast were in favour of the Conversion. Additionally, unitholders approved all other proposals presented at the meeting. The Partnership plans to file the full results of the meeting, as tabulated by the inspector of election, with the Securities and Exchange Commission on a Form 8-K. Subject to the satisfaction of customary closing conditions, the Conversion is expected to close on Wednesday, July 10. The common stock of New Calumet, with a par value of $0.01 per share, is expected to commence trading on Nasdaq on Thursday, July 11 under the ticker symbol “CLMT,” the same symbol under which the Partnership’s common units previously traded.

Todd Borgmann, CEO, expressed his gratitude, stating, “I appreciate the leadership of our General partner, Conflicts Committee, and board of directors, as well as the support of our unitholders in taking this major step. A tremendous amount of effort went into this transaction, and our investors displayed overwhelming support with a 99.6 percent approval rate among votes cast on the conversion proposal. This conversion represents the beginning of a new chapter, and we look forward to welcoming new shareholders as we focus on driving shareholder value in 2024 and beyond.”

For more information visit www.calumet.com

AltaGas Ltd. and Royal Vopak have reached a significant milestone with the positive final investment decision on the Ridley Island Energy Export Facility in British Columbia, Canada. REEF is a world-class liquefied petroleum gas  and bulk liquids terminal that will further strengthen Canada’s position as a growing global energy exporter.

After a meticulous five-year environmental preparation and review process, as well as extensive engagement with Indigenous rights holders and local communities, the Joint Venture is now set to deliver a state-of-the-art export facility that will operate with industry-leading environmental stewardship.

The Joint Venture has successfully completed all major gating items, including the front-end engineering design and a detailed Class III capital estimate. Site clearing work is more than 95 percent complete, and with the necessary permits in hand, the project is expected to come online near the end of 2026.

The projected gross capital cost for the joint venture is $1.35 billion, excluding governmental incentives and support. This aligns with the Partners’ expectations, along with an annual partnership EBITDA of $185 million – $215 million. To minimise capital cost risk and community impacts, onsite work will be minimised, with approximately 90 percent of equipment, packaging, and pipes expected to be prefabricated offsite in controlled operating environments.

One of the key highlights of the project is the Joint Venture’s aim to lock-in more than 60 percent of the Phase 1 capital costs through fixed-price, lump-sum engineering, procurement, and fabrication contracts prior to construction. This provides a level of cost certainty and mitigates potential cost overruns.

Vopak and AltaGas will fund their 50 percent pro-rata ownership through each company’s respective financial capacity, maintaining a strong financial position without leveraging the partnership. This demonstrates their commitment to responsible financial management and ensures a sustainable approach to the project.

REEF is expected to play a crucial role in enhancing Canada’s position as a growing global energy exporter. It will strengthen Canadian and Asia Pacific energy connectivity and provide Canadian producers and aggregators with access to premium global markets for LPGs. With its strategic location, REEF offers a structural advantage in delivering LPGs to Asia, with only ten shipping days to the fastest-growing demand markets in Northeast Asia. This advantage, coupled with the facility’s focus on minimising maritime emissions, positions REEF as a competitive player in the global energy export market.

Importantly, the project has First Nations support agreements in place, showcasing the commitment to building positive relationships and driving economic benefits for local communities in Northwestern British Columbia. The construction activities will create job opportunities, and the long-term operation of REEF will continue to contribute to the economic growth of the region.

REEF will be constructed and operated under AltaGas and Vopak’s existing exclusive rights granted by the Prince Rupert Port Authority (PRPA) to develop LPG, methanol, and other bulk liquids exports on Ridley Island. This partnership further strengthens the collaboration between the two companies and ensures the successful realisation of the project.

The positive FID on REEF is a significant achievement for AltaGas and Vopak, as it enables them to continue connecting Canadian energy to Asian markets and drive valuable outcomes for their customers. It reinforces Canada’s structural advantage in delivering LPGs to Asia with the shortest shipping time and lowest maritime emissions footprint. By delivering a world-class export facility, AltaGas and Vopak are poised to create long-term value and contribute to the growth of the energy industry in Canada and the Asia Pacific region.

For more information visit www.vopak.com

In a strategic move to enhance its product offerings and streamline services, Tremco CPG UK has announced that it will now provide both Nullifire and Carboline products under one unified business. This consolidation brings significant benefits to the UK market, offering customers a comprehensive suite of high-performance coatings and fire protection solutions from two of the industry’s most trusted brands.

By bringing Nullifire and Carboline UK together, Tremco CPG UK leverages the strength of both brands. Nullifire is known for its advanced intumescent coatings, which ensure structural integrity during a fire. On the other hand, Carboline UK is a leader in protective coatings, renowned for their durability and corrosion resistance.

The union of Nullifire and Carboline under Tremco CPG UK offers several advantages. Customers can access a broader range of fire protection and protective coatings solutions from a single source, simplifying the procurement process. The collaboration also fosters innovation by combining the research and development efforts of both brands. Additionally, customers benefit from a unified support system and improved logistics.

Furthermore, this consolidation has broader implications across Europe. Nullifire Intumescent Coatings will now be exclusively sold by Carboline throughout the continent, except for Ireland, which will be serviced through Tremco CPG UK. This ensures consistent access to Nullifire’s fire protection solutions through Carboline’s customer network, enhancing product availability and support.

In summary, the integration of Nullifire and Carboline UK under Tremco CPG UK marks a significant milestone in the coatings industry. Customers in the UK will experience a seamless blend of advanced fire protection and protective coatings, backed by the combined expertise of two leading brands. The exclusive distribution arrangement across Europe further underscores the commitment to providing high-quality solutions on a wider scale. This strategic alliance sets a new standard for excellence in the industry.

For more information visit www.nullifire.com/en-gb/

ConocoPhillips and Marathon Oil Corporation have announced a definitive agreement where ConocoPhillips will acquire Marathon Oil in an all-stock transaction valued at $22.5 billion, including net debt of $5.4 billion. Under the terms of the agreement, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock, representing a 14.7 percent premium to the closing share price of Marathon Oil on May 28, 2024.

Ryan Lance, chairman and CEO of ConocoPhillips, stated that the acquisition of Marathon Oil deepens their portfolio and aligns with their financial framework. He emphasised the shared values and culture of both companies, focusing on safety and responsible operations to create long-term shareholder value. The transaction is immediately accretive to earnings, cash flows, and distributions per share, with significant synergy potential.

Lee Tillman, chairman, president, and CEO of Marathon Oil, expressed pride in the achievements of Marathon Oil and stated that ConocoPhillips is the right home to build on that legacy. He highlighted the unique combination of scale, resilience, and long-term durability that ConocoPhillips offers, with a premier global asset base and a focus on operational excellence.

The transaction is expected to deliver several benefits, including immediate accretion to ConocoPhillips, significant cost and capital synergies, and enhancement of ConocoPhillips’ premier Lower 48 portfolio. The cost and capital synergy run rate of $500 million is expected to be achieved within the first full year following the closing of the transaction.

ConocoPhillips also plans to increase its ordinary base dividend by 34 percent to 78 cents per share starting in the fourth quarter of 2024. Additionally, the company intends to prioritise share repurchases, with plans to retire the equivalent amount of newly issued equity in the transaction in two to three years.

The transaction is subject to approval by Marathon Oil stockholders, regulatory clearance, and customary closing conditions. It is expected to close in the fourth quarter of 2024.

Advisors for the transaction include Evercore as ConocoPhillips’ financial advisor and Wachtell, Lipton, Rosen & Katz as ConocoPhillips’ legal advisor. Morgan Stanley & Co. LLC is serving as Marathon Oil’s financial advisor, and Kirkland & Ellis LLP is serving as Marathon Oil’s legal advisor.

For more information visit www.conocophillips.com

Standic, a leading terminal operator, is delighted to announce the successful completion of the second phase of its terminal in Antwerp. This significant milestone marks a new chapter in Standic’s commitment to providing exceptional services to its valued customers.

The completion of the second phase includes the addition of five new tank pits, housing a total of 46 state-of-the-art storage tanks. With a combined capacity of 85,000 cubic metres, Standic Antwerpen is now equipped to meet the growing demands of its clients more effectively and efficiently than ever before. The entire system, ranging from the tank to the quay, is specifically designed and allocated for its intended purpose. Moreover, all tanks and lines are meticulously crafted using stainless steel, ensuring they fully satisfy the desires and standards of today’s chemical industry.

Image provided by Standic 

Standic would like to extend its heartfelt gratitude to everyone involved in making this achievement possible. The dedication, hard work, and collaboration of the Standic team, as well as the support of its partners and stakeholders, have been instrumental in the successful completion of this project.

Standic Antwerpen is now fully operational and ready to welcome customers to its expanded terminal. With its enhanced capacity and cutting-edge infrastructure, Standic is well-positioned to provide top-notch services and solutions to its customers in Antwerp and beyond.

Standic remains committed to delivering excellence in terminal operations, ensuring the highest standards of safety, efficiency, and customer satisfaction. The completion of this second phase is a testament to Standic’s ongoing dedication to meeting the evolving needs of its customers and the industry.

For more information visit www.standic.com

Exolum, a leading logistics company for liquid products, has announced plans to construct a new terminal for the storage of biofuels and other bulk liquid products at the Port of Bilbao. The project, set to commence in 2025 with an anticipated investment of 20 million euros, is expected to be fully operational by 2027. This development will not only expand Exolum’s service portfolio and storage capacity in the area but also contribute to the company’s commitment to supporting the energy transition in Spain.

The construction of the new terminal will take place in multiple phases, beginning with the creation of a bund consisting of five tanks with a total storage capacity of 29,000 m3. The facility will be equipped with state-of-the-art safety and environmental protection systems to ensure the utmost security and compliance.

From its initial phase, the terminal will be connected to the port, allowing for efficient vessel entry and departure operations and seamless integration with other terminals, Exolum facilities in Zierbena and Santurce, and the wider Spanish network. The incorporation of these port-connection infrastructures will enhance the company’s operational capabilities, enabling the receipt, storage, and temperature maintenance of various biofuels and raw materials, as well as blending and subsequent vessel loading or dispatch to other terminals.

Subsequent phases of the project will focus on increasing capacity and services to cater to the specific requirements of different types of raw materials, emphasising flexibility and adaptability.

Exolum’s strategy centers around investing in logistics infrastructure at Spanish ports to support the energy transition and ensure efficient and secure supply. The strategic location of the terminal in the Port of Bilbao positions it as a significant hub for biofuel and raw material flows, fostering synergies with other Exolum developments in ports such as Gijón and Coruña. Additionally, its proximity to key Atlantic hubs like Rotterdam, Antwerp, and The Hague facilitates trading activities and contributes to the growth of the industrial business associated with biofuels and raw materials, supporting refinery operations and other industrial plants in the region.

Jorge Guillén, Exolum’s Spain region lead, emphasised that this project is a crucial step in the company’s commitment to investing in Spain and developing the necessary logistics infrastructure for sustainable fuels, further advancing energy transition objectives.

Exolum currently operates in eleven countries and manages three storage terminals in the Basque Country, along with pipeline networks and airport facilities. In the region, the company also operates a pipeline connecting the terminals with the Muskiz refinery, the Port of Bilbao, and the broader pipeline network.

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

The leading event for the tank storage and energy infrastructure industry StocExpo has partnered with Association NH3 Event to produce the Clean Ammonia Storage Conference.

This specialist conference, held on the show floor at StocExpo on 11 -12 March 2025, will give insights into the challenges of storing and handling ammonia as well as ammonia’s role in the energy transition.

“StocExpo prides itself on being the global meeting place for those involved in safe and sustainable energy storage and logistics,” Margaret Dunn, the event’s portfolio director explains.

“Hydrogen is going to be a key part of the future clean energy mix. The energy transport, storage and logistics sector is going to be crucial to match hydrogen supply with international demand. Hydrogen carriers, such as ammonia are part of the solution, but require dedicated infrastructure and safe handling.

“This partnership with Association NH3 Event will ensure logistics service providers from all over the globe can stay up to date with the latest future fuel regulations and meet the partners they need to develop this rapidly growing market.”

The clean ammonia market is developing strongly in Europe, with at least 14 terminal projects planned in the ARA region. “Big names including Advario, Vopak, VTTI, Vesta Terminals and Stolthaven are just a few of the major storage operators already building ammonia storage capacity,” explains Hans Vrijenhoef, Association NH3 event director and former president of the Ammonia Energy Association.

“Association NH3 Event works in partnership with the Ammonia Energy Association and has nearly 10 years of experience in the clean ammonia sector,” adds Vrijenhoef.

“Now more than ever we are seeing a huge increase in the amount of planned clean ammonia infrastructure including greenfield terminals and storage tanks. The tank storage market has a vital role to plan in contributing the further development of the hydrogen ecosystem.

This new partnership with StocExpo provides a fantastic opportunity to learn how to safely and efficiently handle ammonia and to find out more about the multiple infrastructure projects around the globe.”

For more information visit www.stocexpo.com

Puma Energy Zimbabwe has recently unveiled a new fuel storage facility at the Robert Gabriel Mugabe Airport, highlighting their dedication to the country’s thriving aviation and travel industry. The inauguration of the one million litre aviation fuel storage facility, which effectively doubles their current storage capacity, was commemorated by the presence of Zimbabwe’s minister of energy and power development, Hon. Edgar Moyo, along with Puma Energy’s CEO Hadi Hallouche, Head of Africa Fadi Mitri, and Zimbabwe general manager Donatien Kodog.

The tourism sector plays a vital role in the Zimbabwean economy, with a projected growth rate of 6.9 percent in 2024. During the event, Hon. Edgar Moyo emphasised the significance of this infrastructure development, stating that it not only strengthens the nation’s aviation sector but also plays a crucial role in supporting the rapid growth of the tourism industry and the country’s industrialisation ambitions.

Puma Energy’s investment in the Zimbabwean market extends beyond the expansion of the storage facility. They are actively focused on expanding their retail fuel network and storage facilities, developing renewable energy solutions for their B2B customers, and providing support to local communities. This demonstrates their commitment to the sustainable development and progress of Zimbabwe.

For more information visit www.pumaenergy.com

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council, witnessed the signing of a strategic collaboration agreement between ADNOC and Mubadala Investment Company. This agreement aims to enhance cooperation in developing UAE National talent, empowering outstanding Emiratis to contribute to the nation’s sustainable development.

During the signing ceremony, His Highness emphasised the importance of strategic partnerships between the public and private sectors in supporting UAE National talent development. This aligns with the leadership’s vision to prepare and empower future Emirati leaders across various strategic sectors through advanced specialist training courses.

His Highness also highlighted the contributions of ADNOC and Mubadala to developing UAE National talent through joint initiatives and programmes. He reaffirmed the pivotal role of UAE National youth in driving sustainable economic development.

The agreement was signed by His Excellency Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC managing director and Group CEO, and His Excellency Khaldoon Khalifa Al Mubarak, managing director and Group CEO of Mubadala Investment Company.

Dr Sultan Ahmed Al Jaber stated that the UAE leadership’s visionary approach to investing in young Emirati talent prepares capable leaders to serve the nation and drive its growth. This partnership bolsters ADNOC’s collaboration with Mubadala to develop Emirati leadership talent.

Khaldoon Khalifa Al Mubarak emphasised that creating opportunities for Emiratis is a critical national priority. The partnership will create career mobility opportunities, foster leadership talent within both organisations, and upskill UAE Nationals in high-growth sectors.

Under the agreement, ADNOC and Mubadala will exchange knowledge, collaborate to develop leaders, facilitate mobility opportunities for employees, and prepare UAE National talent to support sustainable practices. The agreement also focuses on upskilling UAE Nationals through various training programmes and developing initiatives to support Emirati students’ leadership and career development.

For more information visit www.adnoc.ae

Energy Capital Partners, a leading investor in energy transition and decarbonisation infrastructure assets, has announced the successful closing of its fifth flagship equity strategy, ECP V (Fund V), with a total capital commitment of $4.4 billion. This exceeds the initial target of $4.0 billion by 10 percent, and an additional $2.3 billion of co-investment capital was also raised, indicating strong support for ECP’s equity strategy.

Fund V will continue ECP’s investment strategy of transforming promising companies in power generation, renewable and storage assets, and critical sustainability and decarbonisation infrastructure. ECP recently announced the take-private of Atlantica Sustainable Infrastructure, a diversified renewable and power platform with assets primarily in the US and Europe. This marks Fund V’s eighth investment in the past two years, totaling approximately $2.2 billion of committed capital ($4.4 billion including co-investment). Fund V has also executed the take-private of Biffa, a leading UK-based waste management business, and invested in Harvestone, a biofuels platform with a carbon capture project.

Doug Kimmelman, founder and senior partner of ECP, attributes the firm’s success to its proven strategy and the growing demand for reliable and clean energy. He notes that the electricity sector is becoming a major growth area globally, driven by factors such as data centers, electric vehicles, and electrification. Kimmelman emphasizes that ECP is well positioned to capitalise on these opportunities and create value for investors.

Emily Zovko, head of investor services and managing director at ECP, highlights the milestone achieved with the closing of Fund V and acknowledges the support and confidence from investors worldwide. She notes that ECP’s focused efforts on electrification, decarbonisation, reliability, and sustainability have been central to the firm’s success over the past 19 years.

Fund V received commitments from a diverse range of global investors, including public and private pensions, insurance companies, asset managers, and family offices.

Kirkland & Ellis served as fund formation counsel to ECP during the closing of Fund V.

For more information visit www.ecpgp.com

Sempra Infrastructure, a subsidiary of Sempra, has announced that they have signed a fixed-price engineering, procurement, and construction (EPC) contract with Bechtel Energy for the Port Arthur LNG Phase 2 project in Port Arthur, Texas. This project aims to enhance the supply of secure and reliable US natural gas to customers worldwide.

Bechtel will be responsible for detailed engineering, procurement, construction, commissioning, and startup activities for the project. The Port Arthur LNG Phase 2 project has received authorisation from the Federal Energy Regulatory Commission and is expected to have two liquefaction trains with a total capacity of up to 26 Mtpa. The Phase 1 project is currently under construction, and the commercial operation dates for train 1 and train 2 are projected to be in 2027 and 2028, respectively.

Sempra Infrastructure has also signed agreements with Aramco and INEOS for the purchase of LNG and off take capacity from the project. However, the development of the Port Arthur LNG Phase 2 project is subject to various risks and uncertainties, including securing commercial agreements, permits, financing, and reaching a final investment decision.

For more information visit www.semprainfrastructure.com

Neste, Marubeni Corporation, and Resonac Corporation have formed a partnership to facilitate the production of renewable olefins and derivatives. Under this collaboration, Neste’s renewable raw material, Neste RE^™, will be utilised by Resonac’s Oita Complex in Japan to manufacture various products. Marubeni, a prominent Japanese trading and investment conglomerate, will oversee the logistics between Neste and Resonac.

Neste RE is a bio-based feedstock derived from 100 percent renewable sources like waste and residue oils and fats. It consists of pure hydrocarbons and can replace conventional feedstock such as fossil naphtha in chemical value chains. This substitution contributes to a reduction in greenhouse gas emissions.

Photo: Resonac Corporation’s Oita Complex in Japan. Source: Resonac Corporation.

Carrie Song, senior vice president of commercial, renewable products at Neste, expresses enthusiasm about joining forces with Marubeni and Resonac to address the challenge of replacing fossil resources in plastic production. She highlights the importance of dedicated pioneers like Marubeni and Resonac in driving sustainability transformation.

Yoshiaki Yokota, chief executive officer of the Energy & Infrastructure Solution Group at Marubeni, shares his excitement about establishing a trade flow of diverse renewable feedstocks, alongside conventional raw materials, to contribute to the carbon neutrality of the petrochemical industry. Marubeni aims to build the value chain for renewable chemicals in collaboration with Neste, the world’s leading renewable feedstock supplier, and Resonac, a top chemical company in Japan.

Hirotsugu Fukuda, general manager of the Olefins & Derivatives Business Unit at Resonac Corporation, expresses satisfaction in working cooperatively with Neste and Marubeni to meet the market’s demand for renewable olefins and derivative products. He highlights that Resonac’s Oita Complex is ISCC PLUS certified and will continue to provide the market with renewable products using a mass balance method based on the ISCC system.

For more information visit www.neste.com