Cappro news – Page 4
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CapPro newsSoutheast Asia poised for offshore gas boom
Offshore gas production in Southeast Asia is poised to unlock USD100 billion in potential investments, driven by a flurry of planned final investment decisions (FIDs) expected to materialise by 2028, according to Rystad Energy’s latest analysis.
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CapPro newsUS momentum gathers offshore
The American Clean Power Association (ACP) said that investment into the offshore wind energy industry is projected hit USD65 billion by 2030.
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CapPro newsOnshore wind and CCUS to benefit from Labour plan
The UK new government has promised an immediate end to the de facto ban on onshore wind energy projects, while carbon capture, utilisation and storage (CCUS) looks set to benefit.
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CapPro newsGlobal CCUS investment requires USD196 bn through 2034
Industry analyst Wood Mackenzie projects that by 2034, global carbon capture capacity will reach 440 million tonnes per annum (Mtpa), and storage capacity will reach 664 Mtpa, requiring USD196 billion in total investment.
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CapPro newsEC approves French offshore wind support package
The European Commission (EC) has approved a EUR10.82 billion (USD11.67 billion) investment package for offshore wind energy in France.
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CapPro newsDNV survey details contradiction within oil and gas industry
A recent survey from DNV indicates that 68 percent of oil and gas industry leaders are optimistic for sector growth in the coming year. This confidence underscores the sector’s resilience as it balances immediate demands with long-term environmental responsibilities.
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CapPro newsOEUK responds to SNP energy and climate change commitments
Offshore Energies UK (OEUK) responded favourably to the Scottish National Party’s (SNP) 2024 general election manifesto. OEUK’s own industry strategy is calling for all parties to choose a homegrown energy transition.
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CapPro newsWestwood presents realistic view of floating offshore wind
Westwood Global Energy Group’s recent Floating Wind Survey highlights the size of the gap between installation targets and what’s likely to be commissioned by 2030.
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CapPro newsMalaysia and Indonesia reaffirm commitment to oil and gas
The oil and gas industry in Southeast Asia is on the brink of a significant expansion, with forecasts predicting a compound annual growth rate (CAGR) of over 4 percent from 2024 to 2029. This growth is largely fuelled by the region’s strategic transition from coal to natural gas, coupled with a surge in energy requirements and increased industrialisation.
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CapPro newsEquinor highlights Walls and Bridges in the energy transition
Energy Perspectives 2024, an energy scenario analysis prepared by Equinor analysts, contains two scenarios for the future of global energy markets: Walls and Bridges. Their difference highlights the contrast between the current pace of the energy transition (Walls) and the swift, radical changes needed to meet the 1.5°C ambition in the Paris Agreement (Bridges).
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CapPro newsStronger for longer
The 13 sectors that rely on oil are likely to face a more complex transition to alternative fuels than expected just a couple of years ago, said industry analyst Rystad Energy.
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CapPro newsHurdles to clear in floating wind energy race
A survey by Westwood Global Energy Group has highlighted the major challenges facing the floating offshore wind energy industry. While there is still confidence about the sector, the majority of respondents believe that 2030 installation targets will be missed.
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CapPro newsDNV highlights hydrogen potential of Baltic region
The EU estimates the demand for climate-neutral hydrogen in 2050 to hit as much as 2,000 terawatt hours (TWh). The North and Baltic seas will have critical roles in meeting this demand.
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CapPro newsPetronas discovery in Suriname approaches 400 million barrels
Nine deepwater fields have been discovered in Suriname waters since 2019, but the country still awaits its first sanctioned development. Addressing the recent deepwater discovery by Petronas in the country, Wood Mackenzie said that Roystonea and Fusaea’s recoverable resources are approaching 400 million barrels, enough to support an FPSO with an oil processing capacity of up to 100,000 barrels per day.
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CapPro newsQatarEnergy champions LNG as long-term solution to energy needs
Qatar’s LNG expansion projects are on track to hit an increased production capacity of 142 million tonnes per annum. QatarEnergy added that “with 18 million tonnes per annum coming from our LNG project in Texas, Qatar will be doubling its LNG production capacity in the next few years.”
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CapPro newsFloatHOME lands FLOWIN prize
The FloatHOME consortium, comprising Principle Power and Aker Solutions, has won the second phase of the USA’s Floating Offshore Wind Readiness (FLOWIN) Prize
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CapPro newsInvestment inbound for Angola’s infrastructure
The Export-Import Bank of the United States (Ex-Im) has finalised three agreements with Angolan authorities to fund renewable, bridge and telecommunication projects across the African country.
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CapPro newsFinland rejects 16 offshore wind energy applicants
Finland turned down 16 applications for exploitation rights concerning offshore wind power in the exclusive economic zone. A reason for the rejections was that many of the applications in the Gulf of Bothnia overlap each other.
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CapPro newsEQT makes OX2 offer
EQT has made a bid to acquire Swedish renewable energy developer OX2.
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CapPro newsRystad predicts upstream M&A uptick in 2024
After the biggest first quarter for global upstream dealmaking in five years, the industry could see another USD150 billion of merger and acquisition (M&A) deals in the remainder of 2024, said industry analyst Rystad Energy. With global M&A deal value crossing the USD64 billion mark already this year, it represents the strongest first-quarter performance since 2019 and a 145 percent increase on the first quarter of 2023, fuelled primarily by consolidation in the US shale patch.