Scotland Unveils $78 Mln Fund to Support Energy Sector
The Scottish government said on Friday it has set up a 62 million pound ($78 million) fund to help the energy industry recover from the impacts of the coronavirus crisis and the collapse in oil and gas prices.The energy transition fund will support businesses in the sector over the next five years and help to attract private sector investment, focusing on Scotland's north east.Projects under consideration for funding include an underwater hub in Aberdeen to help the subsea and underwater sector to grow, an energy transition zone business park, and hydrogen projects."It is vital we move
Prysmian Targets Half of Sales from Low-Carbon Products by 2022
.The Italian company, which supplies cables for industries ranging from high voltage power transmission to offshore wind-farms, telecoms and cars, said in a statement it aimed to cut carbon emissions by 2-3% by 2022.It said it also aims to reduce energy consumption by 3% in the time period."The energy transition is our core business and main driver of growth," Chief Executive Valerio Battista said in the statement.(Reporting by Stephen Jewkes; editing by Agnieszka Flak
Another Partner Joins Dutch Offshore Hydrogen Project
Eneco onboard as a partner. Their participation will provide realistic data for the pilot, which in turn delivers better insights for the next stages of the project.“The goal is to obtain valuable lessons for successfully integrating offshore energy systems to support the acceleration of the energy transition, and the Dutch North Sea is ideally suited for this. The ability to convert energy from wind farms to hydrogen, then transport it via the existing gas infrastructure offers major advantages, particularly for those windfarms located much further offshore.”Ruben Dijkstra, Director Offshore
ABB Bags DolWin5 Gig
Per Erik Holsten, Managing Director, ABB Norway.“With our intelligent project delivery experience, ABB is uniquely positioned to assure the safety,security and reliability of renewable assets worldwide. We look forward to supporting the delivery ofclean, efficient power for Germany’s energy transition,” Holsten added.The offshore wind industry may be integral to Europe’s energy system by as soon as 2030, with Germany planning to generate 65 percent of electric power from renewable sources by 2030, including 20GW from offshore wind farms.The high risks associated with power disruptions
Uptick for Subsea Tree Installs Coming
of those were dominated by TechnipFMC, he says, while the likes of Aker Solutions have just had 4-5 tree orders outside of this market last year. “Operators are now a bit afraid they’ve created monsters and it worries players outside of this approach,” he says.Reflecting on the energy transition, Bjørvik says that offshore wind could be a good bet for idle or underutilized flex-lay vessels, with investment in offshore wind cable installation expected to be higher than oil and gas flowline and flexible installations in 2022.Aerfugl Phase Two was sanctioned in 2019. Aker Solutions
Offshore Energy Outlook for 2020
mark seen in years past. As of this writing, Brent oil was hovering around $62 per barrel, and analysts expect prices will remain in this range for some time into the future.On top of this, there’s another new reality for oil and gas companies to come to grips with: the so-called “energy transition”. Increasingly, more environmentally conscious governments, societies and investors are piling pressure on the industry and calling for emissions reductions and a shift toward renewable energy.The industry has taken notice – and action. Oil and gas giants Shell and Equinor, for
Subsea UK: New Board for 2020
guidance and support of our new board will allow Subsea UK to continue to meet its members’ needs and ensure that we are well-placed to help our members embrace new opportunities across all of the sectors in which we operate.”Gordon added, “The last year has been defined by the energy transition which will pick up further momentum in 2020. The good news for subsea is that we are right at the heart of this transition with underwater engineering and technology playing a role in oil and gas, decommissioning, offshore wind, floating wind and offshore power generation, carbon capture and
New Floating Wind Center Launched
role in helping the UK leverage its leadership position, connecting our strong regional clusters to drive innovation and collaboration.“I’m very pleased that Opportunity North East is a partner in the Center and with its strong energy track record we can create a competitive global energy transition cluster in the North East of Scotland.“As a country, our vision should be to use our industrial and academic expertise to create an integrated net zero offshore energy sector built on partnership across the different parts of the energy mix.”Dr Paul Ellsmore, Program Manager
Eni-led Group to Build Wave Power Stations
the CDP Group has a stake, intends to develop an extremely innovative technology. This system will generate value both locally and for the whole community, and is consistent with our strategy that aims at gradually directing our Group’s activities and investments towards the support of the energy transition and against climate change”.Fincantieri will offer its industrial and technical shipbuilding skills for the development and deployment of the first “full scale” industrial application.CEO Giuseppe Bono remarked: “This large-scale industrial and technological cooperation
