A new report issued by DNV GL addresses the cost of offshore wind, which will fall approximately 70% by 2050 and offer new opportunities to players in the offshore wind, oil & gas and maritime industries as they shift their portfolios to become less dependent on fossil fuels.
Oceans of Energy installed with success the first modules of the world’s first offshore floating solar farm in the Dutch North Sea, while the company informs that since November the system has already survived the first winter storms.
Danish offshore wind company Ørsted revealed its target to become carbon neutral by 2025 and reach net-zero emissions across its entire supply chain by 2040, in line with the global ambitions set under the Paris Agreement.
According to Bloomberg, the European Union plans to give a boost to some of the world’s biggest wind farms. Namely, the support came under the new strategy Green Deal package, which goals to reduce greenhouse emissions by 2050.
The Abu Dhabi National Oil Company (ADNOC) plans to decrease its greenhouse gas (GHG) emissions intensity by 25% by 2030, to bolster its position as one of the least carbon-intensive oil and gas companies in the world.
According to Bloomberg, a floating wind turbine off the coast in northern Portugal began transmitting electricity to the grid- indicating a crucial step for a technology that can potentially increase the potential for offshore wind power. Namely, it is said that the WindFloat Atlantic project is backed by European energy companies EDP Renovaveis SA, Engie SA as well as Repsol SA and uses the floating platform developed by Principle Power Inc.
According to reports, Denmark is proceeding with its plans to construct an artificial island, acquiring power from offshore wind farms of up to 10 gigawatts of capacity, more than enough to supply all households, as part of efforts to meet ambitious climate change targets.
The “UKCS Energy Integration: Interim Findings” as issued by The Oil and Gas Authority, which was published on Tuesday 17 December 2019, discusses the first phase of the UKCS Energy Integration Project, led by the OGA; BEIS; The Crown Estate as well as Ofgem, considering options to help feed into a new strategic vision of the UKCS as an integrated energy basin.
On Sunday, November 24, 30 people boarded the the Bahamas-flagged offshore support vessel, Skandi Atlantic, while it was preparing to leave the Port of Timaru in New Zealand in order to meet a drilling rig commissioned by OMV, with the aims to stop it from assisting OMV’s oil rig.
The UK Labour Party published its pre-elections manifesto reporting an £11 billion windfall tax on oil companies and delist procedures from the London Stock Exchange those who make no efforts in tackling climate change. In its manifesto, the Party discussed all urgent matters that affect the UK today, paying extra attention to the energy sector and the importance of moving towards more sustainable and green actions.
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