Enterprise Products Partners L.P.  and Piñon Midstream, LLC, a portfolio company of Black Bay Energy Capital, have announced that an affiliate of Enterprise has entered into a definitive agreement to acquire Piñon Midstream. The debt-free transaction, valued at $950 million in cash, will significantly bolster Enterprise’s presence in the prolific eastern flank of the Delaware Basin, spanning New Mexico and Texas.

Piñon Midstream specialises in natural gas gathering and treating services and owns critical infrastructure assets, including approximately 50 miles of natural gas gathering and redelivery pipelines, five three-stage compressor stations, and hydrogen sulfide and carbon dioxide treating facilities with a capacity of 270 million cubic feet per day, expected to expand to 450 MMcf/d by the second half of 2025. Additionally, Piñon Midstream operates two of the highest capacity and deepest acid gas injection wells in the Delaware Basin. As part of the acquisition, Enterprise is evaluating the addition of a third injection well to support a total treating capacity of up to 750 MMcf/d.

The acquisition is underpinned by fee-based contracts with long-term acreage dedications, including minimum volume commitments. Piñon Midstream’s monitoring, reporting, and verification plan for permanent sequestration of carbon dioxide in its AGI wells at the Dark Horse Treating Facility in Lea County, New Mexico, received approval from the Environmental Protection Agency in June 2024, fulfilling a key requirement for 45Q tax credit eligibility.

Enterprise views this acquisition as a strategic entry into the Delaware Basin, particularly in the Lea County, New Mexico, and Winkler County, Texas areas, which hold over 7,500 potential well locations and access to multiple geologic production benches. The acquisition addresses a significant bottleneck in the region, where drilling activity has been limited by the lack of sour natural gas treating and AGI well capacity, coupled with lengthy permitting processes for new AGI wells.

“We are excited to announce the acquisition of Piñon Midstream,” said A. J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “The Piñon management team has developed the premier sour natural gas treating system in the Delaware Basin, and these assets accelerate our entry into this region by at least three or four years. They are highly complementary to our midstream energy system and provide an excellent entry point for expanding our natural gas processing footprint.”

Teague further noted that the acquisition is expected to generate distributable cash flow accretion of $0.03 per unit in 2025, the first full year of ownership, excluding potential commercial and operational synergies.

Steven Green, CEO of Piñon Midstream, expressed enthusiasm about the acquisition, stating, “Our team set out to build the premier sour gas treatment and carbon sequestration asset in the market, and with the support of our producer clients, we achieved our goal. We are thrilled to contribute our unique Delaware Basin gas treating system to Enterprise, a true leader in the midstream energy business.”

The transaction, expected to close in the fourth quarter of 2024, is subject to customary regulatory approvals and will be funded through cash on hand and borrowings under Enterprise’s existing commercial paper and bank credit facilities.

Piñon Midstream, LLC retained Piper Sandler & Co. as its financial advisor and Kirkland & Ellis LLP as its legal advisor. Locke Lord LLP and Sidley Austin LLP served as legal advisors to Enterprise.

For more information visit www.enterpriseproducts.com

After 13 wonderful years at Certas Energy, doing roles as regional director, commercial director of roadside services, and head of Fuel Cards, Alex Wolfe has started as director of energy at Blend. The Energy Division at Blend delivers solutions in business intelligence, data engineering, Data Governance, Data Science & MLOps. Machine learning operations uses AI to solve real-world challenges for energy companies.

The Energy Division head office is in Edinburgh, with customers across EMEA and Alex will be based in London. Blend and Alex will be looking forward to moving Energy Companies into a digital future.

Alex said on the new role “Since about 2020 I started to hear more and more about the importance of companies coming more digital and introducing A.I. When the opportunity came up at Blend, I thought this is a brilliant way to use my experience as an Energy Company director to help the industry with the future transition.”

For more information visit www.wolfepowerclub.com

Penspen, a leading international energy consultancy dedicated to improving access to secure and sustainable energy for communities worldwide, has been awarded a multi-million pound contract by TotalEnergies in the UK for the operation, maintenance and management services for the Colnbrook Rail Terminal and Colnbrook Pipeline.

Commencing in September 2024, the contact award sees 22 employees transfer to Penspen from British Pipeline Agency Ltd.

Peter O’Sullivan, chief executive officer at Penspen said: “The award from TotalEnergies is testament to the track record we have built in the aviation sector, providing integrated fuelling systems, including pipelines, fuel depots, hydrant distribution networks and associated facilities, to ensure uninterrupted, cost-effective operations.

“Our extensive experience, commitment and quality of services ensures that aviation pipeline operators,

whether commercial or government, trust Penspen to deliver fuel transportation and storage services safely and reliably from concept to completion, and beyond.”

Servicing London Heathrow Airport

The Colnbrook Rail terminal incorporates a rail offloading facility and a 1.9km 12in pipeline feeding the Northern Fuel Receipt facility at London Heathrow Airport. The terminal receives Jet A-1 product by freight train from storage terminals in the UK. The fuel is then transported onwards to Heathrow’s Northern Fuel receipt facility via the Colnbrook Pipeline for which Penspen will become Statutory Operator duty holders under the Pipeline Safety Regulations (PSR).

Following contract commencement, Penspen will be responsible for: railcar receipt, management and off-loading; receipt and dispatch of fuel; fuel sampling; instrumentation inspection and calibration services; the inspection and maintenance regime for the site facilities including pump and switchgear; management of the pipeline integrity through inspection and maintenance; cathodic protection (CP) system management, and general site maintenance including lands management.

 Penspen’s Aviation Experience

Penspen has extensive global airport fuelling experience, including maintenance of 55km of pipelines and facilities collectively known as Manchester Airport’s Pipeline System (MAPS) on behalf of Manchester Jetline. MAPS is the sole supply of aviation fuel to Manchester International Airport, and having designed and constructed the original pipeline, Penspen now oversees the safety and integrity management, and the day-to-day maintenance of the system, ensuring its continued integrity by drawing on the company’s specialist technical consultancy services.

For more information visit www.penspen.com

PETRONAS, ADNOC, and Storegga have announced the signing of a Joint Study and Development Agreement to assess the carbon dioxide emissions storage capabilities of saline aquifers and explore the construction of carbon capture and storage facilities in the Penyu basin, offshore Peninsular Malaysia.

The agreement targets the capture and storage of at least 5 million tonnes per annum of CO2 by 2030. The scope of the JSDA includes a comprehensive study on CO2 shipping and logistics, geophysical and geomechanical modelling, reservoir simulation, and containment research. The partners will also explore the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity.

Nora’in Md Salleh, CEO of PETRONAS CCS Solutions Sdn. Bhd., expressed optimism about the partnership: “This agreement with ADNOC and Storegga will potentially allow us to build our capability to develop and de-risk saline aquifers as carbon dioxide storage sites by leveraging on our partners’ expertise and experience in other regions. This strategic partnership aligns with PETRONAS’ overarching goal of establishing Malaysia as a regional CCS hub to serve Asia Pacific, where it may build up the storage capacity through saline aquifers. This also demonstrates our earnestness in establishing the right pace to deliver CCS hubs here while also contributing to the national climate target.”

As a member of Malaysia’s National Energy Transition Roadmap Committee, PETRONAS is committed to CCS as one of six key energy transition levers that will help the country achieve sustainability, low-carbon development, and resilience. The Malaysian government is expected to introduce a standalone CCUS bill by the end of 2024.

Nora’in Md Salleh further emphasised Malaysia’s interest in strengthening bilateral economic partnerships with the UAE in areas such as renewable energy, logistics, and infrastructure, under the Malaysia-UAE Joint Committee for Cooperation framework. The JSDA supports the JCC and enhances the relationship between PETRONAS and ADNOC, complementing PETRONAS’ presence in ADNOC’s unconventional upstream business in Abu Dhabi.

ADNOC senior vice president for New Energies, Hanan Balalaa, highlighted the significance of carbon capture in reducing emissions and reaffirmed ADNOC’s commitment to advancing this technology: “Carbon capture is an important tool to responsibly reduce carbon emissions, and ADNOC will continue to develop this technology as we work towards our Net Zero by 2045 goal. We are committed to working with trusted global partners like PETRONAS and Storegga to develop and utilise global carbon management hubs, enabling our customers to reduce their emissions and supporting their decarbonisation goals.”

Malaysia’s deep saline aquifer reservoirs are expected to facilitate the development of large-scale, permanent CO2 storage solutions, and this agreement is set to accelerate regional CCS deployment while strengthening collaboration between the strategic partners. The success of this initiative will establish a regional CCS hub serving both domestic and international emitters.

ADNOC is targeting a carbon capture capacity of 10 mtpa by 2030, equivalent to the emissions from 2 million internal combustion vehicles.

Tim Stedman, CEO of Storegga, expressed enthusiasm for the collaboration: “This pioneering partnership is an opportunity to develop a world-class CCS hub and bring about large-scale industrial decarbonisation. Storegga’s experience from other leading CCS regions, plus the expertise of our partners, represent a combined intent to act now to tackle climate change.”

The JSDA’s activities are expected to commence later this year.

For more information visit www.adnoc.ae

Linde Engineering announced the signing of an agreement with Shell Deutschland GmbH to construct a 100-megawatt renewable hydrogen plant as part of the REFHYNE II project. The facility will be located at the Shell Energy and Chemicals Park Rheinland in Wesseling, Germany.

Under the agreement, Linde Engineering will oversee the engineering, procurement, and construction of a new proton-exchange membrane hydrogen electrolysis facility. ITM Power will supply the electrolyzer stacks necessary for the plant’s operation.

The REFHYNE II project is set to produce up to 44,000 kilogrammes of renewable hydrogen per day, which will contribute to the partial decarbonisation of site operations. This renewable hydrogen will be used to create cleaner energy products, such as transport fuels, with a lower carbon intensity. Additionally, as market demand evolves, the hydrogen produced by REFHYNE II could be supplied directly to industrial customers in the region, aiding them in lowering their emissions. The facility is scheduled to begin operations in 2027.

John van der Velden, senior vice president of global sales & technology at Linde Engineering, emphasised the importance of hydrogen in decarbonising energy-intensive industries: “Hydrogen will play a key role in decarbonising energy-intensive industrial sectors, and Linde is at the forefront of developing the technology needed to achieve this. This project draws on our decades of experience in developing hydrogen projects at scale worldwide, and we are proud to have been selected by Shell to help deliver its vision for REFHYNE II. This project also demonstrates how strong political commitment and supportive incentives can help progress the development of the hydrogen economy.”

The REFHYNE II project has been made possible by financial support from the European Union and the German Federal Government, along with a regulatory framework that promotes the use of renewable hydrogen.

Andrew Beard, Shell’s vice president of hydrogen, highlighted the project’s significance: “With the 100 MW electrolysis REFHYNE II, we are further advancing Shell’s goal of being a net-zero-emissions company by 2050. For Shell Energy & Chemicals Park Rheinland, REFHYNE II is a great investment and a milestone in its transition. The project will benefit from the experience that Shell and its partners Linde and ITM have in the development, construction, and operation of other renewable hydrogen projects in Europe.”

The REFHYNE II project builds on the success of the 10 MW PEM electrolyzer REFHYNE I, which began operations in 2021 and utilises PEM electrolyzer technology.

For more information visit www.linde-engineering.com

Exolum has taken another step forward in its strategy to achieve zero net emissions by ensuring that 63 percent of the company’s total energy consumption in Spain, the main source of the group’s emissions, originates from self-consumption photovoltaic energy and long-term agreements for the supply of renewable energy.

The company has recently signed two new long-term renewable power purchase agreements. The first is a solar PPA which will provide 7 GWh per year from 2025 to 2034 and the second is the first wind PPA to be signed by the company, which will supply 60 GWh per year from 2026 to 2035. These new agreements, which will furthermore prevent the emission of almost 17,000 tonnes of CO₂ per year, are in addition to two other agreements already signed by the company.

This push for sustainable energy forms part of the ESG Master Plan which contemplates the commitment to become a carbon neutral organisation by 2040. To achieve this, the Group is implementing an ambitious strategy to reduce its carbon footprint. This contemplates the construction of new self-consumption photovoltaic plants, which will enable the company to reduce its emissions whilst at the same time reducing the cost associated with the electricity bill, and the signing of PPAs that guarantee the supply of 100 percent renewable energy.

The company has four self-consumption solar plants in operation at its facilities of Mora (Toledo), Barcelona, Algeciras and Huelva and is building another two at its facilities in Poblete (Ciudad Real) and Arahal (Seville). In the United Kingdom, Exolum also has a photovoltaic plant in Hallen, which supplies 76 percent of the energy used at this facility, and it has recently commissioned another solar farm in Misterton. Thus, Exolum is also able to continue increasing the use of clean energy in the British Isles.

For more information visit www.exolum.com

Advario is pleased to announce the appointment of Giovanni Funel as its new chief terminal operations officer, effective 1 September. Giovanni brings over 30 years of experience in operations, engineering, manufacturing, and customer service across a diverse range of industries.

Throughout his career, Giovanni has led initiatives in operational excellence and continuous improvement across 23 global locations. He has also successfully directed operations, business growth, and organisational integration for 12 sites across Europe, the Middle East, and Africa.

Giovanni’s extensive expertise, combined with his passion for people, leadership, and sustainability, makes him ideally suited to steer the success of Advario’s Horizon 2030 programme. As part of the Advario executive leadership team, he will collaborate closely with global terminals to drive excellence, growth, and sustainability, ensuring seamless coordination between the terminals and headquarters.

Advario looks forward to the valuable contributions Giovanni will bring as the company continues to advance its efforts in the energy transition.

For more information visit www.advario.com

La Petrolifera Italo Rumena S.p.A. (PIR) has successfully acquired Nordic Storage AB, a leading Swedish tank storage company, from Aquarius Energy. This strategic acquisition was facilitated through InterTank Nordic AB, a Swedish tank storage firm in which PIR had previously secured a controlling stake.

Nordic Storage AB is one of the largest tank storage providers for bulk liquids in Scandinavia, with a storage capacity exceeding one million cubic metres. The company operates seven strategically located terminals across Sweden and Denmark, including in Gothenburg, Helsingborg, Malmö, Norrköping, Oskarshamn, Gävle, and Aalborg. These facilities offer a wide range of services for various energy products, such as distillates, aviation fuels, biofuels, vegetable oils, fuel oils, and chemicals.

Founded in Ravenna in 1920, PIR has a long history of providing storage and handling services for bulk liquids through its terminals in Northern Italy (Ravenna and Genoa), Albania (Vlora), and Tunisia (Zarzis).

With the acquisition of Nordic Storage AB, PIR has effectively doubled its storage capacity to approximately two million cubic metres, significantly expanding its footprint across the Mediterranean and Scandinavia. This move reinforces PIR’s position as a key player in the European bulk liquid storage market.

For more information visit www.gruppopir.com

EEMUA has released Edition 2 of EEMUA Publication 237, UK Pressure Equipment – Pressure Equipment (Safety) Regulations: Global conformity assessment – a guide to site installed assemblies.

The new edition takes account of the separation activities of the UK from the EU and provides guidance to avoid non-conformity of pressure equipment against legal requirements when it is assembled on the site of a user. It specifically gives guidance to avoid problems that can arise when global conformity assessment is carried out.

EEMUA 237 provides guidance to help users, manufacturers, project engineers, installation contractors, and other parties to achieve their legal duties and ensure pressure equipment and Written Schemes of Examination can be certified prior to use, particularly when assembly has taken place on users’ sites.

Reference is made to the Pressure Equipment Regulations, Pressure Systems Safety Regulations and the Provision and Use of Work Equipment Regulations.

The publication was revised through a collaboration of engineers and representatives from the Pressure Equipment Consultation Forum (PECF), the Engineering Equipment and Materials Users Association (EEMUA), the Safety Assessment Federation (SAFed), LRQA (an assurance provider) and other stakeholders within the pressure equipment industry. It incorporates advice from the Health and Safety Executive (HSE).

EEMUA 237 Edition 2 is free to downloaded from the EEMUA website.

The publication is issued jointly by EEMUA and SAFed (as PEDG1, Ed 2).

For more information visit www.eemua.org

After nearly 1.5 years of partnership and a successful revitalisation of the company, Cees van Gent has announced his decision to step down as CEO and chairman of the executive board of HES International, effective 31 August 2024.

During his impactful tenure, Cees van Gent has made significant contributions to HES International, including strengthening the leadership teams, instilling a performance-oriented culture, driving record-breaking financial performance, and overseeing the successful €1 billion refinancing of the company’s capital structure. “The Supervisory Board would like to extend its gratitude to Cees for these achievements and delivering such tangible change and value for the company,” said Søren Skou, chairman of the Supervisory Board.

Commenting on his decision, Cees van Gent stated, “After the successful refinancing of the company, this is a natural moment for me to step down. With the execution of our vision and business plan 2030 now well underway, the company is very well-positioned to continue its journey as a leading European multi-purpose bulk terminal operator. HES International will continue to strengthen its investments in port infrastructures and the handling of sustainable commodities in partnership with our customers. I’m grateful for the collaboration with my colleagues, customers, financing partners, and shareholders. I wish everyone, and especially HES International, all the best for the future.”

Mark van Lieshout, CFO of HES International since 2020, will assume the role of interim CEO while the search for a permanent replacement is conducted.

For more information visit www.hesinternational.eu

Enbridge Gas has been awarded significant funding as part of two major hydrogen initiatives aimed at advancing clean energy solutions. The company received $5 million to conduct a System-Wide Hydrogen Blending Study, which will explore the feasibility and maximum limits of blending hydrogen gas into the existing pipeline network. Additionally, Enbridge Gas was granted $900,000 for the Markham Virtual Hydrogen Hybrid Demonstration Project.

The Markham project is designed to showcase the potential of using Ontario’s existing wind and solar assets to produce renewable hydrogen, thereby reducing power supply intermittency. This initiative is expected to play a crucial role in integrating hydrogen into the energy mix, enhancing the stability and sustainability of the power grid.

Both projects are supported by the federal Energy Innovation Programme and the Clean Fuels Fund, reflecting the government’s commitment to fostering innovation in clean energy technologies.

“We are proud to be at the forefront of providing hydrogen solutions to the energy mix,” said Michele Harradence, executive vice president and president of Enbridge Gas Distribution & Storage.

For more information visit www.enbridgegas.com

bp has reached significant milestones in its H2Teesside project, a low-carbon hydrogen production plant, by agreeing on a statement of principles with the UK Government and signing front-end engineering design contracts. These developments mark important progress in the project, which aims to play a crucial role in the UK’s hydrogen economy.

The agreement with the Department for Energy Security and Net Zero enables H2Teesside to enter the final stage of negotiations for a low-carbon hydrogen agreement, which is expected to support hydrogen production on Teesside.

Technip Energies has been selected to deliver the FEED for the proposed blue hydrogen production facility, which will include integrated carbon capture. The contract involves establishing the engineering, procurement, and construction (EPC) execution methodology, a detailed schedule, and a robust project cost, with completion targeted for 2025.

Costain, an infrastructure solutions company, has been chosen to design the pipeline infrastructure. The 31-kilometre pipeline network will distribute hydrogen from the production site to various industries. Costain is also expected to complete its FEED work in 2025.

As part of the East Coast Cluster, the H2Teesside project will integrate with other regional decarbonisation initiatives. The facility is expected to capture and store over two million tonnes of CO₂ annually, equivalent to the emissions from heating one million UK households.

With a target of 1.2 GW of hydrogen production, H2Teesside could contribute over 10 percent of the UK’s 2030 hydrogen production goal. The project plans to supply a diverse range of customers, including existing businesses in the region and new enterprises drawn by the availability of low-carbon hydrogen at scale.

In addition to advancing the UK’s hydrogen capabilities, bp’s H2Teesside project is poised to support economic development and regeneration in Teesside. The project is expected to create jobs during both the construction and operational phases, while also promoting local education, skills development, and fostering a highly skilled UK-based hydrogen and carbon capture and storage supply chain.

Hydrogen is one of bp’s five energy transition growth engines, with the company viewing it as a key enabler for decarbonising hard-to-abate industries. bp is focused on selecting and delivering high-quality hydrogen projects that offer strong value and significant impact in the energy transition.

For more information visit www.bp.com

Neste is enhancing its logistics infrastructure for handling liquefied recycled raw materials at its Porvoo refinery in Finland. The expansion includes facilities to manage liquefied waste plastics and rubber tyres, positioning Neste to advance its strategic goals in chemical recycling and transforming the Porvoo site into a hub for renewable and circular solutions.

The new infrastructure will feature dedicated unloading facilities, including an unloading arm with a heating system and pipelines connecting the harbour to specialised storage tanks. Unlike crude oil, liquefied waste plastics and rubber tyres must be heated to remain in a liquid state and require systems resistant to corrosion. Additionally, a vapour recovery unit will be installed to help control emissions during operations.

Photo: Installation of new unloading arm for liquefied recycled raw materials at Neste Porvoo refinery harbour, Finland. Source: Neste

Jori Sahlsten, senior vice president of refinery and terminal operations at the Porvoo refinery in Neste’s Oil Products business unit, explained the significance of the expansion: “The transformation of our Porvoo refinery into a renewable and circular solutions hub will require many individual steps and adjustments. The new logistics infrastructure is one of these steps. It puts us in a good position to process larger and continuous volumes of liquefied recycled raw materials. This will be needed when we start using the new upgrading unit, which is able to process 150,000 tons of liquefied waste plastic per year.”

The upgraded logistics infrastructure is expected to be completed in 2024, coinciding with the construction of Neste’s new liquefied waste plastic upgrading unit at the Porvoo refinery. This unit, part of the PULSE project, is scheduled for completion in 2025 and will convert liquefied raw materials into high-quality feedstock for the plastics and chemicals industry.

For more information visit www.neste.com

The Asia Natural Gas and Energy Association and the Korean Private LNG Industry Association have signed a new Memorandum of Understanding aimed at fostering cooperation on natural gas development and the role of LNG in Asia’s energy transition. This marks the first international agreement for the Private LNG Industry Association, highlighting its growing influence in the global energy sector.

Formed in 2021, the Korean Private LNG Industry Association was established to enhance expertise within Korea’s LNG industry through research, technology development, and the dissemination of vital information. The association’s current members include industry leaders such as SK E&S, SK Gas, GS Energy, GS EPS, GS Power, Posco International, Boryeong LNG Terminal, and Hanyang Corporation.

The MOU between ANGEA and the Korean Private LNG Industry Association focuses on developing sustainable policies for the natural gas sector, sharing research and data, and collaborating on joint projects. These efforts will extend to multilateral forums such as Gastech, reinforcing the importance of LNG in supporting Asia’s energy transition.

Paul Everingham, CEO of ANGEA, expressed enthusiasm for the partnership, stating, “ANGEA is very pleased to enter into this MOU with the Private LNG Industry Association, and we look forward to working together constructively. LNG has long been a source of reliable energy for South Korea, and ongoing supply will be essential to the country’s energy transition.”

Mr. Chang-kyu Kim, vice president of the Korean Private LNG Industry Association, emphasised the MOU’s significance, saying, “We expect this MOU to serve as a catalyst for domestic companies to strengthen partnerships with global energy firms and promote their global expansion. We plan to provide maximum support for our members to actively enter international markets.”

The agreement is expected to enhance the role of LNG in Asia’s energy transition, facilitating more substantial exchanges within the gas industry across the region, including South Korea.

For more information visit www.angeassociation.com

Adler & Allan, a leading provider of environmental risk reduction and advisory services, today announced that the Private Equity business within Goldman Sachs Alternatives has completed its acquisition of a majority stake in the Company. The deal closure marks a significant milestone in Adler & Allan’s history and the partnership will serve to support the Company as it embarks on the next phase of growth.

Founded in 1926 and headquartered in Harrogate, Adler & Allan is a leading UK-based environmental risk reduction specialist, supporting organisations in managing, improving, maintaining, and upgrading their critical infrastructure across the entire asset lifecycle. With over 1,600 employees and more than 2,500 customers, the company is a national turnkey partner to the utilities sector with services from strategic infrastructure advice, monitoring, data and analytics, frontline operational capability, and environmental consultancy.

This transaction strongly positions Adler & Allan to deliver on its mission to solve industries’ biggest environmental challenges from reducing pollution and preventing harm to the environment, to mitigating the effects of climate change. The Company is focused on driving growth through broadening the suite of environmental risk services and deepening its presence across the UK to support clients on a wide range of ESG challenges.

In partnership with Goldman Sachs Alternatives, Adler & Allan will continue to invest organically in its people, innovation, and technology as well as accelerating the group’s M&A activity both in the UK and internationally, with a continued focus on sustainability, climate transition, and water to solidify its position as the go-to environmental services partner.

Henrik Pedersen, chief executive officer of Adler & Allan, said: “We are excited to join forces with Goldman Sachs, a global leader who shares the same vision for growth. This strategic partnership will enable us to expand our services and create significant value for our clients. We look forward to working together to put ESG into action for more customers in more markets.”

For more infomation visit www.adlerandallan.co.uk

In a significant move to bolster mutual development, Nigerian President Bola Tinubu and Equatorial Guinean President Teodoro Obiang Nguema Mbasogo signed an agreement on Wednesday evening in Malabo, solidifying their partnership on the Gulf of Guinea Pipeline Project. The agreement outlines the legislative and regulatory frameworks for the gas pipeline, covering its establishment, operation, transit of natural gas, ownership, and general principles.

During the signing ceremony, President Tinubu, who is on a three-day official visit to Equatorial Guinea, emphasised that this agreement would unlock new opportunities for gas exploration and create employment in the region. He noted that the discussions between the two leaders prior to the signing also touched on crucial topics such as employment creation, food security, multilateral relations, and conflict resolution mechanisms across Africa.

“Regarding Africa, conflicts and conflict resolution were key topics of our discussion. We explored various conflict areas and what we can do to promote peace,” President Tinubu remarked. He highlighted the importance of fostering peace and stability within their nations and across the continent, drawing parallels to the approaches taken by Europe and America in resolving conflicts.

President Tinubu also addressed challenges related to security, the African Continental Free Trade Area, and food security, underscoring the shared commitment among African nations to find solutions from within the continent.

Equatorial Guinean President Mbasogo, in his remarks, praised the longstanding bilateral relations with Nigeria and stressed the importance of deepening cooperation in critical areas. He also reiterated the significance of Africa’s aspiration to secure a permanent seat on the United Nations Security Council, expressing Equatorial Guinea’s commitment to work alongside Nigeria to achieve this goal.

The agreement, according to President Mbasogo, is strategic for Africa’s development and strengthens the ties between the two nations.

The signing ceremony was attended by key officials from both countries, including Nigeria’s minister of foreign affairs, ambassador Yusuf Tuggar, and Equatorial Guinea’s minister of foreign affairs, Mr. Simeon Oyono Esono. Other notable attendees included Nigeria’s minister of justice and attorney general of the federation, chief Lateef Fagbemi, SAN; minister of defence, Muhammad Badaru Abubakar; minister of interior, Dr. Olubunmi Tunji-Ojo; minister of state for petroleum and gas, Ekperikpe Ekpo; and minister of youth development, Dr. Jamila Ibrahim-Biu.

For more information visit www.statehouse.gov.ng

Shell Offshore Inc., a subsidiary of Shell plc, has announced its final investment decision on a waterflood project at its Vito asset located in the US Gulf of Mexico. The waterflood process, set to commence in 2027, involves injecting water into the reservoir formation to displace additional oil, which is expected to significantly increase the production capacity at the Vito field.

Zoë Yujnovich, Shell Integrated Gas and upstream director, highlighted the strategic value of this investment, stating, “Over time, we’ve seen the benefits of waterflood as we look to fill our hubs in the Gulf of Mexico. This investment will deliver additional high-margin, lower-carbon barrels from our advantaged upstream business while maximising our potential from Vito.”

Waterflooding is a secondary recovery technique where water is injected to physically sweep displaced oil towards adjacent production wells while repressurising the reservoir. The three water injection wells for this project were drilled as pre-producers.

Shell remains the leading deep-water operator in the US Gulf of Mexico, with production that boasts one of the lowest greenhouse gas intensities globally for oil production.

For more information visit www.shell.com

Stolthaven Terminals is pleased to commemorate the 25th anniversary of its joint venture, Jeong-IL Stolthaven Terminal, located in the Port of Ulsan, South Korea. Over the past quarter-century, Stolthaven Terminals, in partnership with Mr. Lee, has developed JSTT into the largest bulk-liquid storage facility within the Ulsan/Onsan industrial complex.

JSTT provides essential services to customers in the chemical, specialty liquid, and petroleum industries. The terminal has become a crucial domestic and regional distribution hub for Stolthaven Terminals and a key transshipment point for Stolt-Nielsen.

The company extends its gratitude to its joint venture partner and the directors who have supported JSTT over the past 25 years. Stolthaven Terminals looks forward to continued success and growth in the years to come.

For more information visit www.stolthaventerminals.com

Siemens Energy has secured a contract from the German utility EWE to supply a 280-megawatt electrolysis system, set to be operational by 2027 in the city of Emden, Germany. The plant is expected to produce up to 26,000 tonnes of green hydrogen annually, which will be used for various industrial applications in the region. By replacing fossil fuels with this green hydrogen, the project could potentially reduce CO2 emissions by approximately 800,000 tonnes per year, particularly in the steel industry.

The electrolysis plant forms a crucial part of EWE’s large-scale hydrogen initiative, “Clean Hydrogen Coastline,” which is divided into four sub-projects. The electrolyser, which is the centrepiece of the Emden hydrogen production facility, will operate with an average power consumption of 320 megawatts over its lifetime. In addition to supplying the electrolyser, Siemens Energy and EWE have signed a ten-year service contract to ensure the plant’s ongoing performance and reliability.

The German government and the European Commission have classified the project as a strategic funding measure under the Important Project of Common European Interest framework. EWE received the official funding decision from the Federal Ministry for Economic Affairs and Climate Protection last week. Following the signing of the contract, EWE and Siemens Energy have immediately commenced the implementation phase of the project.

Anne-Laure de Chammard, member of the executive board of Siemens Energy, emphasised the project’s significance in scaling up Germany’s green hydrogen industry. She stated, “This project is an important element in the ramp-up of the green hydrogen industry in Germany. With the long-awaited funding commitments, the German government has placed the final piece of the puzzle to realise strategically important projects like this on a large scale. The immediate conclusion of the contract with EWE demonstrates that the industry is ready to swiftly implement these projects.”

EWE CEO Stefan Dohler highlighted the company’s comprehensive approach to hydrogen, covering production, transportation, and storage. He remarked, “EWE is active along the entire value chain with its hydrogen projects, from production to transportation and storage. Our choice of location in north-west Germany and our decision to work with Siemens Energy means that we are focusing on both regional and national value creation.” Dohler also expressed satisfaction with Siemens Energy’s selection after a year-long evaluation of ten electrolysis manufacturers worldwide, noting that Siemens Energy is already a trusted partner in EWE’s energy infrastructure.

The electrolyzer from Siemens Energy will utilise PEM (Proton Exchange Membrane) technology, which is highly adaptable for use with renewable energy sources due to its flexible ramp-up capabilities. The critical components, known as stacks, will be produced at Siemens Energy’s new gigawatt factory in Berlin.

For more information visit www.siemens-energy.com

Lummus Technology, a global leader in process technologies and energy solutions, has announced a significant award from Bharat Petroleum Corporation Limited for the development of a world-scale ethylene plant and associated downstream units in Bina, Madhya Pradesh, India.

This project is a key component of BPCL’s Bina Petrochemicals and Refinery Expansion Plan. Upon completion, the expansion will deliver polymer-grade ethylene and propylene to downstream polymer production units, with a production capacity of 1,200 KTA (kilotons per annum) of ethylene and 550 KTA of propylene.

Leon de Bruyn, president and CEO of Lummus Technology, commented, “This award integrates Lummus’ industry-leading light olefins technology and our recently acquired water treatment technology. The comprehensive and integrated offering will ensure sustainable water treatment solutions, drive reliable and efficient light olefin production, and reduce greenhouse gas emissions. These benefits align with BPCL’s goal of strengthening its position in India’s petrochemical market.”

BPCL will licence a suite of Lummus technologies, including ethylene, low pressure recovery, total C4 hydrogenation, pygas hydrogenation, and wet air oxidation, as well as Sulzer’s extractive distillation technology. Lummus’ role also includes heater detail engineering, advisory engineering services, and training.

Lummus Technology has established itself as the leading supplier of light olefins technologies globally, having secured nearly 50 percent of new project awards since 2000 and licenced over 200 ethylene plants worldwide, representing approximately 45 percent of global ethylene capacity.

For more information visit www.lummustechnology.com

OPW has announced the successful acquisition of SPS Cryogenics B.V. and its affiliated business, Special Gas Systems B.V. The SPS-SGS team will now be part of OPW Clean Energy Solutions. Based in Heerhugowaard, Netherlands, SPS-SGS is a leading developer of pipeline systems and ancillary equipment for cryogenic applications.

Kevin Long, president of OPW, stated, “The creation of handling, transfer, and storage systems for cryogenic liquids is central to OPW Clean Energy Solutions, making SPS-SGS an ideal addition to our portfolio.” He noted that SPS Cryogenics’ expertise in vacuum-insulated pipeline systems and SGS’s focus on gas panels and systems will integrate smoothly with OPW’s existing brands, including Demaco.

Founded over 25 years ago, SPS Cryogenics has become a preferred provider for handling various industrial gases, while SGS, established in 2012, has built a strong reputation in cryogenic pipe systems.

For more information visit www.opwglobal.com

Dolphyn Hydrogen is playing a crucial role in advancing the £2.1 million Milford Haven: Hydrogen Kingdom (MH) project, following a successful bid that secured £877,000 in funding from Innovate UK’s Launchpad: Net Zero Industry, Southwest Wales programme. Additional co-funding for the MH project has been provided through Pembroke Dock Marine, a Swansea Bay City Deal initiative.

The MH project is designed to establish a viable framework for linking offshore hydrogen generation with onshore hydrogen distribution. This will be achieved by leveraging Dolphyn Hydrogen’s innovative technology at a site within the Celtic Sea, specifically the Pembrokeshire Demonstration Zone. The PDZ, managed by Celtic Sea Power, is a 90 km² area off the southern coast of Pembrokeshire, designated for wave and tidal test and demonstration activities.

The project’s goals include updating the existing scoping of the PDZ to encompass green hydrogen production from floating offshore wind, with pipeline connections to shore and onward to off-takers. Dolphyn Hydrogen’s technology will provide engineering-backed evidence for offshore hydrogen production, supporting future hydrogen development and investment both regionally and beyond. Additionally, the project will explore hydrogen’s potential as an alternative market for energy generated by co-existing wave and tidal technologies, potentially boosting commercial development and investment in these areas.

There is a growing consensus that both renewable electricity and low-carbon hydrogen are essential to achieving net zero targets. FLOW offers significant potential for large-scale generation, particularly in the Celtic Sea region. However, the focus has traditionally been on electricity generation alone. Dolphyn Hydrogen’s technology presents an opportunity to extend FLOW’s capabilities into offshore hydrogen production, which is often more cost-effective to transport than electricity, particularly over long distances. Furthermore, hydrogen production is not constrained by electricity grid limitations, a common obstacle for electrical FLOW projects.

The MH programme and the subsequent rollout of Dolphyn Hydrogen’s technology aim to de-risk hydrogen generation and secure a pre-2030 supply of green hydrogen at scale for early industrial off-takers. This will also provide a source of hydrogen for the Hyline Cymru project, laying the foundation for further expansion and collaboration with other developers interested in the benefits offered by Dolphyn Hydrogen’s technology.

The project is being delivered in collaboration with Celtic Sea Power, ORE Catapult, and Wales and West Utilities. Through the Hyline Cymru project, Wales and West Utilities are leading efforts to establish a hydrogen pipeline in South Wales, accelerating the decarbonisation of industry and gas customers in the region. The proposed HyLine pipeline will extend from Pembrokeshire to the Swansea Bay area, with Dolphyn Hydrogen supplying hydrogen from the Celtic Sea region.

Steve Matthews, CEO of Dolphyn Hydrogen, emphasised the importance of low-carbon hydrogen in the future energy mix of Wales and the UK. He stated, “Low Carbon Hydrogen will provide a critical part of the future energy mix in Wales and the UK, enhancing energy security and enabling our net zero ambitions to be realised. The Milford Haven Hydrogen Kingdom project provides a pivotal step forward for Dolphyn Hydrogen, our project partners, and the hydrogen industry more generally, in demonstrating a viable pathway for producing affordable hydrogen at scale from offshore floating wind. We are delighted to be part of a team that is dedicated to creating a better future for all.”

For more information visit www.dolphynhydrogen.com

EcoCeres Limited, a subsidiary of EcoCeres Inc., has entered into an agreement to lease 100,000 cubic metres of storage capacity at Dialog Terminals Langsat (3) Sdn. Bhd. in Tanjung Langsat, Johor Darul Ta’zim, Malaysia. Dialog Terminals Langsat is an indirect, wholly-owned subsidiary of Dialog Group Berhad, which recently expanded its facilities by adding 150,000 cubic metres of storage for renewable and petroleum products. The agreement with EcoCeres is structured as a take-or-pay contract. The expansion of the terminal is scheduled for completion in the first quarter of FY2027.

This new lease agreement follows EcoCeres’ announcement of a significant investment in a new production facility in Pasir Gudang, Johor, Malaysia. The renewable refinery, expected to be operational in the second half of 2025, is strategically located less than one kilometre from DTL3 and will be directly connected to the terminal’s storage tanks via rundown pipelines.

EcoCeres’ new refinery will focus on producing sustainable aviation fuel (SAF), hydrotreated vegetable oils, and renewable naphtha. The facility is designed with an annual production capacity of up to 400,000 tonnes, and the products will be stored in tanks at DTL3 that are dedicated to EcoCeres. The integration of DTL3’s storage capabilities with the new refinery optimises the investment in storage infrastructure while enhancing operational efficiency through the logistical integration provided by the rundown pipelines.

Jeremy Baines, CEO of EcoCeres, commented on the collaboration: “This partnership will facilitate the integration of EcoCeres’ new Malaysia refinery into the global logistics infrastructure, help our customers access high-quality renewable fuels, and contribute to the growth of EcoCeres as a global player in the renewable fuels market.”

For more information visit www.ecoceres.com

Fox Innovation & Technologies, under the leadership of former Dresser-Rand CEO Vincent Volpe, has made a significant move to expand its compressor and rotating equipment business with its second acquisition. The company announced the acquisition of Cotter Group Holdings, a well-regarded provider of rotating machinery services. This strategic acquisition will serve as the field project execution arm of Fox’s current business, elevating the platform to over $100 million in LTM (Last Twelve Months) revenue on a proforma basis.

Vincent R. Volpe, CEO of Fox Innovation & Technologies, emphasised the importance of this acquisition, stating, “This acquisition signifies the completion of the first major phase of our business plan to provide technology equal to or better than any of the OEMs, combined with the agility and responsiveness typically associated with first-tier providers of traditional aftermarket services. With our technology capabilities now verified on test, and the acquisition of REVAK last July providing us with the fundamental manufacturing footprint, the addition of the Cotter Group completes the core business approach. We are now positioned to offer our clients solutions that reduce their carbon footprint, enhance energy security, and ensure long-term profitable growth for Fox.”

The acquisition of Cotter Group Holdings, which includes S.T. Cotter Turbine Services, Axis Mechanical Group, and Axis Industrial Repair services, significantly enhances Fox’s field operation capabilities and expands its footprint across the United States. The Cotter Group’s extensive experience in executing critical field service projects will enable Fox to offer a comprehensive, full-service solution to its clients, further strengthening its position in the market.

Reflecting on the journey, Volpe noted, “Approximately three years ago, when we sought financial backing, we laid out a plan that required developing world-class technology around compressor flow path efficiency. That technology is now in place. The REVAK acquisition provided the manufacturing and repair capabilities we needed, and the acquisition of the Cotter Group now brings us the field services organisation essential to connect our solutions directly to end users. This acquisition is a defining step forward for Fox Innovation & Technologies.”

Shawn Cotter, founder and COO of Cotter Group Holdings, expressed enthusiasm about the partnership, stating, “We are delighted to be partnering with Fox on the next stage of our growth journey. Fox Innovation & Technologies brings engineering, management, and revamp technology that will further displace the OEMs and bring our customers longer run times, more reliability, and lower operating costs. Fox’s technology and manufacturing capabilities are exactly what we need to take our business to the next level.”

Tom Sikorski, founding partner at Bluewater, praised the acquisition as highly strategic for Fox, noting that it demonstrates the strength and potential of both companies. He expressed confidence in Fox’s continued focus on expanding its best-in-class operations within the compressor and broader rotating equipment market.

The integration process will begin immediately, with both Fox and the Cotter Group committed to ensuring a seamless transition for their employees and clients. The financial details of the transaction remain undisclosed.

For more information visit www.foxinnovation.com

The SLB and Aker Carbon Capture joint venture announced that it has been awarded a contract by its partner, CO280 Solutions, to conduct front-end engineering and design for a large-scale carbon capture plant at a pulp and paper mill on the US Gulf Coast. This project is aimed at removing 800,000 tonnes of carbon emissions annually and will deliver permanent, verifiable, and cost-effective carbon dioxide removals.

The North American pulp and paper industry presents a significant opportunity for carbon removal, with the potential to capture up to 130 million tonnes of carbon per year. By permanently capturing and storing these emissions, the industry can achieve negative emissions, where more carbon dioxide is removed from the atmosphere than is emitted during the manufacturing process.

Egil A. Fagerland, chief executive officer of SLB-ACC JV, highlighted the importance of this contract, describing it as a pivotal milestone in their partnership with CO280 to deliver large-scale carbon capture solutions across North America. Fagerland expressed enthusiasm for continuing the collaboration with CO280 and their pulp and paper partner, as they prepare to implement a full-scale carbon capture plant through the FEED process.

The FEED for the carbon capture plant will be based on the SLB-ACC JV’s modularised Just Catch™ 400 technology, a standardised and modular system that allows for the pre-fabrication of carbon capture units. The SLB-ACC JV is already deploying both Just Catch™ and Big Catch™ solutions across various industrial sectors, including bioenergy, cement, and waste-to-energy.

Jonathan Rhone, chief executive officer of CO280, emphasised the critical role of partnerships in achieving large-scale carbon removal before 2030. Rhone expressed pride in the partnerships CO280 has established within the pulp and paper industry and the carbon dioxide removal markets, as well as their collaboration with the SLB-ACC JV as a key technology partner. He noted that capturing and permanently storing biogenic CO2 at pulp and paper mills could unlock vast carbon removal opportunities and significantly scale up the carbon dioxide removal market.

This contract follows recent announcements from SLB-ACC JV and CO280 regarding their joint efforts to develop large-scale carbon dioxide removal projects in the US and Canadian pulp and paper industries. Additionally, the two companies have collaborated with Microsoft to expand the full value chain of carbon removal in North America, focusing on the capture and permanent sequestration of biogenic CO2 at pulp and paper mills.

For more information visit www.slb.com

Chevron Corporation announced the commencement of oil and natural gas production from its Anchor project, located in the deepwater US Gulf of Mexico. This milestone marks a significant achievement in the energy industry, as the Anchor project introduces high-pressure technology capable of safely operating at up to 20,000 psi, with reservoir depths reaching 34,000 feet below sea level.

Nigel Hearne, executive vice president of Chevron Oil, Products & Gas, highlighted the significance of the Anchor project, describing it as a breakthrough for the energy sector. He emphasised that the application of this industry-first deepwater technology enables Chevron to access previously unreachable resources, paving the way for similar high-pressure deepwater developments in the future.

The Anchor project features a semi-submersible floating production unit (FPU) with a design capacity of 75,000 gross barrels of oil per day and 28 million gross cubic feet of natural gas per day. The development includes seven subsea wells tied into the Anchor FPU, which is situated in the Green Canyon area, approximately 140 miles (225 km) off the coast of Louisiana, in water depths of around 5,000 feet (1,524 m). The total potentially recoverable resources from the Anchor field are estimated to be up to 440 million barrels of oil equivalent.

Bruce Niemeyer, president of Chevron Americas Exploration & Production, remarked on the successful delivery of the Anchor project, underscoring Chevron’s capability to safely complete projects within budget in the Gulf of Mexico. He noted that the Anchor project contributes to providing affordable, reliable, and lower carbon intensity oil and natural gas, meeting energy demand while stimulating economic activity in Gulf Coast communities.

The Anchor FPU is Chevron’s sixth operated facility currently in production in the US Gulf of Mexico, one of the world’s lowest carbon intensity oil and gas basins. Chevron’s operated and non-operated facilities in the Gulf of Mexico are expected to produce a combined 300,000 net barrels of oil equivalent per day by 2026.

In an effort to reduce carbon emissions, the Anchor FPU was designed as an all-electric facility, equipped with electric motors and electronic controls. Additionally, the FPU incorporates waste heat and vapour recovery units and leverages existing pipeline infrastructure to transport oil and natural gas directly to US Gulf Coast markets.

Chevron, through its subsidiary Chevron USA Inc., operates the Anchor project and holds a 62.86 percent working interest. Co-owner TotalEnergies E&P USA, Inc. holds the remaining 37.14 percent working interest.

For more information visit www.chevron.com

Prumo, the economic group responsible for the strategic development of Porto do Açu, along with its subsidiary Porto do Açu and the Norwegian company Fuella AS, have signed the first area reservation contract for a newly licenced low-carbon hydrogen and derivatives hub within the port complex in northern Rio de Janeiro state. The announcement was made on Monday, 12th August, by Prumo Group CEO, Rogério Zampronha, during Prumo Day in São Paulo.

This strategic hub spans a total of one million square metres, with Fuella securing a significant portion of the area through the agreement. This marks Fuella’s first venture in Brazil. Fuella AS, supported by Allianz Capital Partners on behalf of Allianz insurance companies, has Allianz as its main investor, one of the world’s leading insurers, asset managers, and investors, headquartered in Germany.

Companies Also Announce, During Prumo Day, a Memorandum of Understanding for a 520 MW Green Ammonia Plant at the Port Complex

In addition to the area reservation contract, the companies have signed a Memorandum of Understanding to collaborate on the development of the project, detailing its phases and schedules. The project aims to implement a green ammonia plant with a capacity of up to 520 MW, based on water electrolysis. This plant is expected to produce 400,000 tonnes of green ammonia annually, which can be shipped through the port’s liquids terminal for both export and domestic use.

The agreement and MoU were executed with the support of Port of Antwerp-Bruges International, a subsidiary of the Port of Antwerp-Bruges, Europe’s second-largest port and a strategic partner of Porto do Açu. The expectation is that Açu will become a new export corridor for green ammonia from Brazil to Europe.

Mauro Andrade, executive director of business development at Prumo, highlighted the significance of this development, emphasising its contribution to global efforts in reducing carbon emissions and promoting sustainable energy. He noted that the ecosystem at Porto do Açu is well-prepared and offers competitive advantages for the production of green hydrogen and ammonia, both for export and for meeting the needs of the Brazilian domestic market.

The timeline for Fuella’s green ammonia plant project anticipates a final investment decision within the next four years, with the first molecules expected to be delivered by 2030.

Dr. Thorsten Helms, managing director of business & corporate development at Fuella, described the agreement as a landmark for the company, expanding its portfolio of international projects in competitive and attractive regions. He praised Porto do Açu as an ideal location and partner, citing the site’s infrastructure and the dedication and support of the Prumo team as key factors in their decision.

Porto do Açu, the largest private port-industrial complex in Latin America, offers water availability from multiple sources—a crucial element for hydrogen projects—as well as robust export infrastructure. The complex is connected to the National Interconnected System and can develop 100 percent renewable on-grid and off-grid projects, providing certified energy that meets European Union standards.

The low-carbon hydrogen and derivatives hub at Porto do Açu received a Preliminary License from the Rio de Janeiro Government in January of this year, marking an unprecedented step forward. The hub aims to create an integrated platform for renewable and low-carbon hydrogen production, linked to ammonia and methanol production units. The hydrogen produced at the hub can be exported or used as input for future low-carbon industrial clusters to be established at Açu.

For more information visit www.prumologistica.com.br

EcoCeres Inc., a leading producer of renewable fuels, has successfully delivered its first shipment of 10 million litres of sustainable blending component for jet fuel to the Evos Ghent terminal. This milestone marks the beginning of a new partnership between EcoCeres and Evos, with Evos Ghent becoming the first European storage partner for EcoCeres.

Evos Ghent, with its extensive experience in the storage and handling of jet fuel, continues to innovate in the field of sustainable aviation fuel logistics. The terminal previously made history by delivering the first-ever SAF through the NATO Central European Pipeline System to Brussels Airport. In its commitment to future-proofing aviation fuel infrastructure, Evos has repurposed its facilities in Ghent and Amsterdam to meet emerging SAF blending requirements, making Ghent one of the largest and fastest-growing SAF terminals in Europe.

EcoCeres plays a crucial role in the global energy transition, particularly in decarbonising the aviation sector by converting waste into sustainable aviation fuel. This collaboration with Evos helps integrate EcoCeres into the global logistics and supply chain of renewable fuels, supporting the company’s expansion in Europe.

Harry Deans, CEO of Evos, expressed his enthusiasm for the partnership: “We are pleased to welcome EcoCeres, a leading producer committed to innovation in the sustainable fuels sector. Storage and distribution are critical parts of the supply chain. Evos is proud to partner with EcoCeres and support the global transition to lower-carbon aviation. This is a significant milestone for Evos Ghent and it enables further decarbonisation of the aviation supply chain.”

James Ni, CEO of EcoCeres, also highlighted the importance of the collaboration: “We are thrilled to announce this partnership with Evos, a well-established player with access to critical EU infrastructure. It allows the repurposing of existing infrastructure, securing green jobs, and providing our customers with an easy choice between fossil jet fuel and SAF. Customers can now easily opt for a fuel that offers up to 90 percent emission reduction.”

For more information visit www.evos.eu

Tourmaline Oil Corp. has entered into a definitive agreement to acquire all outstanding shares of Crew Energy Inc. for approximately $1.3 billion, including the assumption of $240 million in net debt. The acquisition will be completed through the exchange of 18.778 million Tourmaline common shares. The deal is expected to close in early October 2024, pending customary conditions.

This acquisition strengthens Tourmaline’s position in the South Montney region of Northeast British Columbia and supports its ongoing consolidation strategy in the area. The acquisition is immediately accretive to Tourmaline’s key financial and reserve metrics, and is expected to add over $200 million to its 2025 free cash flow. The Crew assets include low-decline production, significant reserves, and an extensive drilling inventory, with potential for future growth, particularly through the Groundbirch development project.

Tourmaline anticipates significant synergies from the acquisition, estimating an initial net present value of over $0.6 billion before tax. These synergies include capital cost improvements, enhanced liquids growth, and margin improvement opportunities. The company also expects the acquisition to support its growth towards becoming Canada’s largest Montney producer and aims to align major capital projects with improving commodity markets to maximise shareholder returns.

Tourmaline’s board of directors has also approved a 6 percent increase in the quarterly base dividend, effective Q3 2024, raising it from $0.33 per share to $0.35 per share annually. This marks a 25 percent increase in the base dividend for 2024. The Q3 dividend is expected to be declared in early September and paid on September 27, 2024.

The acquisition and dividend increase reflect Tourmaline’s commitment to growth, operational excellence, and delivering value to its shareholders.

For more information visit www.tourmalineoil.com

Crown LNG Holdings Ltd., a Norwegian company specialising in infrastructure for harsh weather conditions, has identified the UK as a prime candidate for a new liquefied natural gas import terminal. With growing demand and the need to reduce reliance on pipeline supplies from Europe, the company is targeting Grangemouth, Scotland, for Britain’s fourth LNG terminal. The proposed facility is expected to have a capacity of at least 2 million tonnes per year and aims to be operational by early 2027.

Swapan Kataria, chief executive officer of Crown LNG, highlighted the UK’s increasing dependency on gas imports, particularly as North Sea production declines and competition for fuel intensifies amid reduced Russian supplies. “It is a bold move, but the UK is too dependent on interconnectors. If they stop working, what happens next?” Kataria said, emphasising the urgency of diversifying the UK’s gas import infrastructure.

Following Russia’s invasion of Ukraine in 2022, several new LNG terminals were rapidly constructed across Europe, and more projects continue to be pursued. Initially, the Scotland facility was expected to connect with a proposed power plant, but Kataria noted that Crown LNG sees sufficient demand for the terminal on its own. “What happened in the last two years, it has woken up a lot of people. They have to be ready,” he added.

Currently, the UK has three onshore LNG terminals—two in Wales and one east of London. The floating terminal proposed by Crown LNG is expected to be cheaper and faster to build, with an estimated cost of around $600 million (£473 million). Crown has engaged in discussions with potential customers in the local industrial and power sectors, as well as developers of US export facilities keen to secure a European market for their shipments.

Kataria also pointed out that the intermittent generation of renewable power in Scotland further supports the need for the terminal. “In light of declining gas production, the UK’s gas import dependency is expected to rise,” he said.

Crown LNG is in the early stages of the project, beginning the preliminary application process, which will be followed by an environmental assessment and the search for a floating storage and regasification unit—a process expected to take at least 18 months.

For more information visit www.crownlng.com

SLB has secured a significant contract from Petrobras through its OneSubsea™ joint venture, following a competitive tender process. The contract involves the provision of standardised, pre-salt subsea production systems and associated services for the continued development of two key oil fields in the Santos Basin, an area of strategic importance.

As part of the second development phase for the Atapu and Sepia fields, SLB OneSubsea will supply Petrobras-standard configured, pre-salt vertical trees, subsea distribution units, subsea control systems, and pipeline systems. The contract also includes related installation, commissioning, and life-of-field services. Notably, much of the technology and equipment for this project, including the vertical trees and subsea control systems, will be produced and serviced locally at SLB OneSubsea’s facilities in Brazil.

Mads Hjelmeland, CEO of SLB OneSubsea, expressed the company’s commitment to the partnership with Petrobras, stating, “This award deepens our valued partnership with Petrobras, and we are proud to be supporting the development of such important assets to Brazil. Leveraging our proven, locally developed technology platform facilitates on-time delivery and maximises local content from our Brazilian manufacturing and service facilities. Brazil is a key market for us, and our continued in-country investments are key to support the growth we envisage for the region.”

The Atapu and Sepia fields are critical components of Petrobras’ broader pre-salt investments, which are expected to significantly enhance Brazil’s oil and gas production capabilities. The contract will enable the addition of two new floating production, storage, and offloading platforms, P-84 for the Atapu field and P-85 for the Sepia field. Each FPSO is designed with a daily production capacity of 225,000 barrels of oil and the ability to process 10 million cubic metres of gas per day.

This contract further cements SLB’s role in the development of Brazil’s energy infrastructure, highlighting the importance of local content and technological innovation in supporting the country’s growing energy needs.

For more information visit www.slb.com

Air Liquide has announced a major investment of up to $850 million to build, own, and operate four large modular air separation units and related infrastructure along the US Gulf Coast. This investment is part of a long-term binding agreement with ExxonMobil, supporting its planned low-carbon hydrogen project in Baytown, Texas.

This new initiative will enable Air Liquide to increase its oxygen production capacity in Texas by 50 percent. Pending the final investment decision, this project would represent the largest industrial investment in Air Liquide’s history. Matthieu Giard, group vice president overseeing the Americas clusters and a member of the executive committee, emphasised the significance of this investment, noting that it would mark a transformative moment for the company.

The project will see Air Liquide establishing a low-carbon industrial gas platform at ExxonMobil’s Baytown site. This platform will produce and supply up to 9,000 tonnes of oxygen daily, which will be utilised by ExxonMobil’s Autothermal reformers to generate low-carbon hydrogen. Additionally, the LMAs will produce up to 6,500 tonnes of nitrogen per day to support ammonia production, a key low-carbon energy source for the export market. The units will also produce significant quantities of argon, krypton, and xenon, bolstering Air Liquide’s offerings to its Industrial Merchant customers.

Giard highlighted the project’s unique nature, particularly its contribution to creating the world’s largest low-carbon hydrogen platform. ExxonMobil’s Baytown facility is expected to produce 1 billion cubic feet of low-carbon hydrogen daily and more than 1 million tonnes of ammonia annually, while capturing and storing 7 million tonnes of CO2 each year. This platform is anticipated to play a crucial role in decarbonising the Gulf Coast and beyond.

This $850 million investment will be the largest industrial commitment in Air Liquide’s history, representing a game-changer for low-carbon oxygen production. It underscores Air Liquide’s ability to leverage its US footprint to actively contribute to industry decarbonisation. The project also solidifies the company’s leadership on the Gulf Coast, one of the world’s most significant industrial regions.

Giard emphasised that the investment aligns with Air Liquide’s mission to provide safe, sustainable, reliable, and efficient industrial gas solutions. The project is a testament to Air Liquide’s innovation in its core business, with the LMAs utilising 25 percent less electricity and being primarily powered by renewable and low-carbon energy. This will further reduce the project’s carbon footprint and allow Air Liquide to manage its own CO2 trajectory effectively.

The project supports Air Liquide’s ADVANCE plan, demonstrating its commitment to developing major low-carbon projects that combine financial and extra-financial performance. This platform project represents the first step in a significant industrial chain for decarbonisation, illustrating Air Liquide’s determination to lead in the transition to a low-carbon future.

The development of this complex project requires expertise, creativity, and resilience, qualities that Air Liquide’s teams have displayed throughout the process. This investment will be a significant milestone for the Group, providing a solid foundation for future growth and sustainability efforts in the US

For more information visit www.airliquide.com

McDermott has been awarded a comprehensive engineering, procurement, construction, installation, hook-up, and commissioning contract by Shell Trinidad and Tobago Limited for the development of the Manatee gas field. Located 60 miles (100 kilometres) off the southeast coast of Trinidad and Tobago, the project represents a significant step forward in the region’s energy infrastructure.

The contract award follows McDermott’s successful delivery of front-end engineering design, detailed engineering, and long-lead procurement services for the project’s initial phases. These earlier achievements laid the groundwork for the current phase of execution, which will involve the design, procurement, fabrication, hook-up, and commissioning of an offshore platform and jacket.

Additionally, McDermott will provide design, installation, and commissioning services for a 32-inch gas pipeline that will connect the platform to a gas processing facility operated by Shell. The project scope also includes the design, procurement, installation, and testing of a fibre optic cable to support the infrastructure.

Mahesh Swaminathan, McDermott’s senior vice president of subsea and floating facilities, commented on the award, stating, “This award leverages our unique, integrated EPCI capabilities and legacy of engineering excellence and innovation to successfully deliver large offshore platforms and complex subsea infrastructure worldwide. The Manatee project builds on our track record of successful project execution for Shell and exemplifies our commitment to building energy infrastructure required to meet demand.”

This contract award highlights McDermott’s ongoing commitment to supporting Trinidad and Tobago’s energy sector by contributing to the future supply of gas to both domestic and export markets. The project further strengthens McDermott’s partnership with Shell and its role in the development of critical energy infrastructure in the region.

For more information please visit www.mcdermott.com

Arrow Energy, a joint venture equally owned by Shell and PetroChina, has unveiled plans to proceed with Phase 2 of its Surat Gas Project in Queensland, Australia. This expansion is set to enhance the supply of natural gas to both domestic and international markets, reinforcing Australia’s position as a key energy provider.

The gas produced from this project will be transported to the Shell-operated Queensland Curtis LNG facility on Curtis Island, near Gladstone. This development supports a long-standing 27-year gas sales agreement between Arrow Energy and QGC, ensuring a steady flow of gas for liquefaction and export, as well as for domestic consumption. At its peak, Phase 2 is projected to deliver approximately 22,400 barrels of oil equivalent per day, or around 130 million standard cubic feet of gas per day.

Zoë Yujnovich, Shell’s Integrated gas and upstream director, highlighted the significance of this expansion, stating, “Embarking on Phase 2 of the Surat Gas Project with Arrow is part of our commitment to bring more gas to market. QCLNG marked its 1000th cargo at the end of last year, reflecting its significance as a gas supplier for Australia and the region. This investment will enable us to sustain and grow this important, secure energy source that offers a lower emissions alternative to options like coal.”

This move aligns with Shell’s strategic objectives outlined during its Capital Markets Day in 2023, where the company emphasised the importance of securing additional feedgas for its existing LNG facilities. The backfill projects, including Phase 2 of the Surat Gas Project, are designed to increase shareholder value by ensuring continued and enhanced production.

Phase 2 will involve the development of up to 450 new production wells, the construction of a field compression station, the installation of 27 kilometres of new pipeline, and the upgrade of existing roads and infrastructure. These efforts are all geared toward ensuring that the QCLNG infrastructure can handle the increased gas volumes.

The first gas from this phase is expected to be delivered in 2026, marking a significant milestone in Arrow Energy’s ongoing efforts to contribute to Australia’s energy landscape and global energy security.

For more information visit www.shell.com