Ocean Energy Resources

GLOBAL NEWS SERVICE FOR THE FOSSIL AND RENEWABLE ENERGY COMMUNITIES

Europe imports record amount of liquefied natural gas from Russia

General – LNG Import

European countries’ imports of Russian LNG increased more than 40 percent between January and October this year (17.8 billion cubic meters) compared to the same period in 2021.

Russian LNG is not subject to sanctions by the EU.

In fact, Russian gas is considered essential to the energy security of some European countries. Yet there is nothing to stop Putin from cutting back on these gas supplies as well in retaliation for anti-Russian measures by the West. This could still force the EU to purchase the gas on the more expensive spot market.

France, Belgium, Spain, and the Netherlands accounted for almost all volumes.

Most Russian LNG is supplied by the Yamal LNG joint venture, which has Russian gas producer Novatek as its main shareholder. French energy giant Total is also in Yamal LNG, by the way.

This proves how difficult it is for Europe to break away from the Kremlin’s energy apparatus. Despite other boycotts of Russian energy products.

Source: Financial Times and Business AM

China’s spending on Russian energy nears $60 billion since war

General – China

China continued to boost Russian energy imports last month, as purchases of natural gas, coal, crude oil and oil products increased to nearly $60 billion since the invasion of Ukraine, from about $35 billion a year ago.

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Vestas selected preferred supplier for floating wind project in South Korea

Wind Energy – Asia Pacific

Vestas announces that MunmuBaram, a joint venture between Shell and HEXICON AB, has named Vestas as the preferred turbine supplier for the 1.3 GW MunmuBaram floating offshore wind project in South Korea.

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Aquadrill announces charter hire agreement for Capella

Fossil Energy – Drilling

Aquadrill and a subsidiary of Vantage Holdings International have reached an agreement to provide the Capella, an MPD outfitted 6th generation drillship, for a four-firm well contract plus two priced and three mutually agreed optional wells for operations in Indonesia.

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Bureau Veritas to certify major commercial floating wind project in Korea

Wind Energy – Korea

Bureau Veritas, in partnership with the Korean Register (KR), has been appointed to lead the project certification of Bada Energy’s Gray Whale 3, a major floating offshore wind farm project in Ulsan, Republic of Korea.

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Energia Renewables reaches milestone for project off Waterford coast

General – Renewable Energy

Energia Renewables has reached a key milestone in the development of the North Celtic Sea offshore renewable energy project, as seabed surveys off the Waterford coast have been successfully completed.

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