US LNG imports rebound

After a multi-year decline, LNG imports to the US are up sharply this year off a smaller base, driven by demand in northeast states.
According to US Energy Department statistics, US LNG imports totalled 52.6 billion cubic feet (Bcf) in January-July 2015, up 43% from 36.9 Bcf in the same period last

US coal exports plummet

Exports of US coal are down 21% in the first seven months of this year, according to data from the Energy Information Administration (EIA).
Exports totalled 45.5 million tonnes in January-July 2015 versus 53.9 million tonnes in the same period last year. “Slower growth in world coal demand, lower

Golar floating LNG project approved

The final investment decision has been made on the floating LNG (FLNG) project in Cameroon that will utilise Golar LNG’s carrier Hilli.
The binding agreement with Cameroon’s government, its state oil company, and independent oil company Perenco was finalised on 30 September. The agreement allows

Carnival finalises Cuba plan

Carnival Corp has confirmed its new Cuba cruise itinerary as US regulations governing passenger-ship calls to the island continue to ease.
Carnival’s new Fathom brand will begin weekly voyages to Cuba with the 710-passenger Adonia in May 2016. The cruise owner announced on 30 September that the

Shell Continues to Hack Jobs

By MarEx 2015-09-30 12:31:33

Shell is cutting more than 1,300 upstream employees in Malaysian over the next two years. The multinational oil and gas company said the move is part of its strategic transformation program, which is aimed at improving efficiency. Its current Malaysian workforce is about 6,500.

Shell has made additional cuts around the world this year due to the downturn in industry, which has forced the overall industry to restructure assets and workforce. In July, Shell also announced job cuts of 6,500 globally.

Shell’s revenues fell by 33 percent in the first half of the year compared to the same period in 2014. And its upstream business has taken the brunt of the losses as profits tumbled to $774 million, down nearly 80 percent from last year. The company’s oil production has also fallen by 11 percent.


U.S. Finally Embraces Offshore Wind

By MarEx 2015-09-30 10:57:20

It has taken decades for the U.S. government to grasps the benefits of renewable energies such as offshore wind. The Department of Energy (DOE) has awarded nearly $600 million to New York, Maine, Rhode Island and Massachusetts for offshore wind projects. And construction began on Rhode Island’s Block Island Farm, the first in the U.S., in July.

The Obama Administration has voiced the need for the U.S to produce 22,000 megawatts of offshore wind energy by 2030, which will provide power to about four and a half million households.

And there has been a concerted effort to ensure that offshore wind production is implemented friendlier to the environment and with wildlife considerations.

The Department of Interior’s Bureau of Ocean Energy Management (BOEM) recently launched its Real-Time Opportunity for Development for Environmental Observations (RODEO) to study the impacts of offshore windfarm construction on the environment.

RODEO will study and analyze how windfarm development affects air quality, sound pollution and examine seafloor disturbances due to anchor chains. The project is expected to be conducted over the next five years.

The Rhode Island Block Island farm, which will power 17,000 households, will provide the first opportunity to gather data from actual site and allow the agency to establish mitigation measures to reduce or eliminate impacts.

The agency will study disturbances on the seabed due to anchors and will use DP vessels.

Loweing costs is a huge objective for the federal government, and it is planning to work with the New York State Energy Research and Development Authority (NYSERDA) and the Clean Energy States Alliance (CESA) to reduce development costs by establishing a regional supply chain.

CESA will coordinated the multi-state program and plans to gather input from stakeholders about development methods to improve transmission lines and expedite the permit process.

BOEM will also establish a multilateral group to collect and share expertise on offshore wind technology and regulation from industry leaders in the U.K., Germany and Denmark to improve production methods.