Category: Nieuws

Lhyfe, one of the world’s pioneers in the production of green and renewable hydrogen, and Fives, a world leader in industrial combustion, signed a memorandum of understanding to provide a complete decarbonised offer for industry, from hydrogen production to combustion. This offer speeds up energy transition by facilitating the use of hydrogen in process industries, without needing to modify all the equipment. Lhyfe will produce and supply green hydrogen and Fives will provide optimised and safe solutions for its use in industrial combustion processes.

Matthieu Guesné, Founder and CEO of Lhyfe, says: ‘We are in a pivotal period in the industrial sector and in particular in industrial combustion. After several years of development, hydrogen solutions are now mature and available on the market regionwide. We are proud and delighted to sign this agreement with a company such as Fives, which is helping to accelerate energy transition in the glass, cement and metals industries, thanks to turnkey solutions for their processes.’

In recent years, the combustion of hydrogen, which emits no CO2, has emerged as one of the most promising solutions for reducing the carbon footprint of industrial processes. For example, a secondary aluminium furnace that today produces 120 tonnes per day using natural gas would tomorrow reduce its annual CO2 emissions by more than 4,000 tonnes with the use of hydrogen.

Frédéric Thrum, deputy general manager of Fives and President of the Energy Division comments: ‘As a pioneer in decarbonisation, Fives supports industrial companies in their energy transition, in particular their switch to hydrogen. Our unique and innovative combustion systems are developed to reduce the environmental impact of our customers around the world. We are proud to be partnering with Lhyfe, to respond together to the urgency of climate change and make industrial processes more sustainable and efficient.’

As recognised experts in their respective fields, Lhyfe and Fives will focus primarily on the metals, glass and cement industries and some selected industrial heating processes and applications in Europe and North America.

By: Anamika Talwaria, Tankstorage / September , 6 , 2024.

Port Esbjerg and Ulsan Port have announced a strategic partnership aimed at advancing the green energy sector through a collaborative effort focused on hydrogen and ammonia handling.

Port Esbjerg, located on Denmark’s North Sea coast, is positioning itself as a critical hub in the expanding offshore wind energy sector. With ambitious plans to establish 134 gigawatts (GW) of offshore wind capacity by 2030 and 300 GW by 2050, Port Esbjerg is set to play a pivotal role in the transition to renewable energy. In 2023, the port secured a significant investment of DKK 5.8 billion (approximately €779 million) from Pension Danmark for constructing facilities dedicated to offshore wind turbine production.

Additionally, €94 million has been allocated for developing terminals to handle Power-to-X technologies and carbon capture and storage (CCS), while €67 million will enhance Port Esbjerg’s capabilities as a multi-modal logistics hub. These investments will support the development of flex terminals, logistics properties, and facilities for green fuels.

On the other side, Ulsan Port, located in South Korea, is advancing its goal to become a low-carbon energy hub. Ulsan Port is pursuing a memorandum of understanding (MoU) with the Korean Register (KR), an international classification society, to support methanol-fueled ships.

Furthermore, Ulsan Port plans to establish a clean hydrogen and ammonia terminal at Ulsan New Port by 2030. This terminal will focus on storing ammonia for hydrogen production and supply, reflecting Ulsan’s commitment to integrating green fuels into its operations.

The partnership between Port Esbjerg and Ulsan Port reflects a shared vision for the future of green energy and aligns with their respective strategic goals. Port Esbjerg benefits from Ulsan’s expertise in hydrogen and ammonia handling, while Ulsan Port leverages Port Esbjerg’s status as a key player in the offshore wind sector.

This collaboration aims to enhance both ports’ capabilities in handling and distributing green energy, positioning them as central figures in the global shift towards sustainable energy solutions.

This announcement follows a recent visit to Ulsan by a Danish delegation, which included representatives from Port Esbjerg, Esbjerg Municipality Mayor Jesper Frost Rasmussen, and officials from the Royal Danish Embassy in Seoul. The visit underscored the existing strong connections between Danish maritime companies and Ulsan, further cementing the collaboration between the two ports.

Overall, this partnership represents a significant step towards integrating renewable energy infrastructure and advancing the global transition to a low-carbon economy. With both ports investing heavily in their respective green energy initiatives, their collaboration promises to foster innovation and drive progress in the energy sector, setting a precedent for future international partnerships in sustainable development.

By: Chem Analyst, September 06, 2024.

The Trans Mountain Expansion Project, now finally completed after years of delays, is expanding access to markets for Canadian oil producers and is set to boost the price of Canada’s heavy crude oil for years to come, top executives at the major energy firms say.

The expanded pipeline is tripling the capacity of the original pipeline to 890,000 barrels per day (bpd) from 300,000 bpd to carry crude from Alberta’s oil sands to British Columbia on the Pacific Coast.

The expanded pipeline provides increased transportation capacity for Canadian producers to get their oil out of Alberta and into the Pacific Coast and then to the U.S. West Coast or Asian markets.

TMX has reserved 20% of its capacity – or 178,000 bpd – to uncommitted customers, or spot shippers.

As a result of the increased competition from Trans Mountain, other pipeline operators – including Enbridge, operator of North America’s largest crude oil pipeline network, Mainline – are cutting rates to transport crude on their network in September. Enbridge will ask lower tolls from companies to ship heavy crude from Hardisty, Alberta, to Texas on Enbridge’s networks, per company filings cited by Bloomberg.

As a result of TMX entering into service, crude trade flows are expected to shift, Wood Mackenzie’s analysts Lee Williams and Dylan White wrote in July.

“Wood Mackenzie data suggests that increased westbound flows will moderately cut into volumes moving on other routes out of Western Canada, especially crude-by-rail and Enbridge’s Mainline system,” they said.

Since Canadian producers continue to ramp up production, the excess pipeline capacity on the networks carrying crude from Canada to the demand centers in the U.S. should be filled fairly soon, according to analysts.

By Tsvetana Paraskova – Sep 03, 2024

In a new development, Saudi Aramco and Chinese company Sinopec will decide if they will help establish the state-of-the-art mega project of $10 billion green refinery or crude-to-petrochemical complex after the Pakistan State Oil, a government-run Oil Marketing Company (OMC), completes the market study in December this year.

In the Pak-Saudi Arabia working group meeting held on August 29, PSO disclosed that the market study required by Saudi Aramco and Sinopec will be completed by December this year which will determine the fate of project. The result of the market study will help Aramco and Sinopec to know whether to start the mega project or not,” a senior official, who was part of the meeting, told The News.

In July 2024, the board of Pakistan State Oil (PSO) approved up to $3 million for completing the market study.

The Pakistani authorities have already notified the new green refinery policy, loaded with huge incentives of 7.5 percent deemed duty for 25 years and a tax holiday of 20 years as per the wish of Saudi Aramco. But, later on, Saudi Aramco detached itself from the royal government and adopted deregulation to a reasonable extent. This is why Aramco management is no more inclined to invest in the refinery business across the world, which is no more lucrative like in the past.

However, after hectic diplomatic endeavors, Saudi Aramco asked Pakistani authorities to include Sinopec as an EPC contractor. It was decided that PSO, Sinopec and Saudi Arabia would conduct a joint market study. But later on, both Sinopec and Saudi Aramco pushed PSO to first carry out a market study on its own, and then both entities will decide accordingly.

The feasibility will determine which type of project should be established. This will also help PSO, Sinopec and Saudi Arabia to decide the cost and capacity of the project. “The market study will also assess to what extent petroleum products will be consumed within the country and how much will be exported.

By: Khalid Mustafa / September 02, 2024

Chinese firm Shengli Oilfield Keer Engineering and Construction Company (Sokec) on Friday signed an agreement with South Sudan’s state-owned Nile Petroleum Corporation (Nilepet) to construct modern oil refinery and storage facilities in South Sudan.

President of Sokec Wu Song and Managing Director of Nilepet Muhammad Lino Benjamin signed a Memorandum of Understanding (MoU) which will see the Chinese firm immediately begin investing in South Sudan.

Benjamin hailed Sokec for its contribution to the development of the youngest nation in Africa.

“With this MoU, we hope you will be able to translate it into agreements and projects that we will do together,” he said at the signing ceremony in Juba, the capital of South Sudan.

Wu said Sokec will embark on investment without hesitation, aiming to enhance production capabilities and operational efficiency.

“We will start our preparation work as soon as possible on the refinery and storage facilities,” he said.

The high-level delegation from the Chinese firm began a two-day visit on Monday to the oil fields in Tharjiath, Unity State, to inspect the facilities and assess the current state of the refinery operations.

Kuol Deng Maleith, director general of Midstream in Nilepet, said that the visit by representatives of the Chinese firm represents a significant step toward modernizing and expanding South Sudan’s oil industry.

He emphasised the critical role of international investors in the continued development of the country’s oil sector and its broader economic growth.

By: The East African , August 27, 2024 

Equinor plans to invest 60 billion-70 billion Norwegian crowns ($5.7 billion-$6.7 billion) a year in oil and gas offshore Norway until 2035 as it expects continuing strong demand for the fossil fuels, it said on Monday.

Norway is Europe’s largest gas supplier and a major producer of oil, pumping some four million barrels of oil equivalent per day, but many of its largest offshore fields are in decline and there are currently no new developments scheduled for the 2030s.

“We see a long-term demand curve for Norwegian oil and that is why we continue to invest,” Anders Opedal, CEO of state-controlled Equinor, told a press conference.

Equinor said it could produce 1.2 million barrels of oil equivalent per day (boed) in Norway in 2035, compared with 1.4 million boed in 2023, and drill 20-30 Norwegian exploration wells annually over the next 10 years compared with 26 wells in 2023.

In terms of gas alone, Equinor reiterated it expected to deliver 40 billion cubic metres to Europe every year until 2035.

Oil and gas investments by all companies offshore Norway are expected to hit a record this year and stay at elevated levels in 2025, driven by ongoing field developments and rising inflation, according to national statistics office data.

There were still “attractive opportunities” offshore Norway, Kjetil Hove, Equinor’s head of domestic operations, told the same press conference.

By: Reuters , August 26, 2024.