Developers of the Acorn CCS project have signed a deal with Uniper that could see emissions from a UK power station captured and shipped north for storage.
“The ultimate goal is to get off gas and move to hydrogen,” Lewis said. He noted that Europe’s gas demand remains uncertain in the short term.
Germany wants to lock in contracts for liquefied natural gas with a delivery obligation, an effort to deter profit-chasing traders from diverting shipments elsewhere as the nation boosts its commitment to the fuel.
Equnior board member, Michael Lewis, will step down from his position this week after accepting the chief executive job at German energy company Uniper.
Enagas is to acquire a 20% stake in the Dutch BBL Company, which operates a 150-mile gas interconnection linking the UK and the Netherlands.
Germany has reduced its imports of Russian energy to zero and imported its first full cargo of LNG to Uniper’s new terminal at Wilhelmshaven.
Germany agreed to reduce its stake in Uniper to 25% plus one share by 2028 at the latest.
NewMed Energy has signed a non-binding memorandum of understanding (MoU) to supply natural gas, and develop blue hydrogen, for delivery into Europe with Uniper.
Uniper reported one of the biggest losses in German corporate history, with Russia’s stranglehold on gas supplies leaving the giant utility struggling to survive.
Oman’s OQ has set out a number of stratagems for the energy transition, but for 2021 emissions increased.
Germany will nationalise Uniper in a historic move to rescue the country’s largest gas importer and avert a collapse of the energy sector in Europe’s biggest economy this winter.
Talks are under way over Germany buying a major stake in Uniper, amid “increased uncertainties”, the company has said.
Australia’s Woodside Energy (ASX:WDS) will supply liquefied natural gas (LNG) from its global portfolio to Europe, including Germany, starting in January 2023 after signing a flexible long-term deal with Uniper.
Japan’s JERA and Germany’s Uniper have teamed up to back an ammonia project in the US Gulf Coast, with a focus on exports to Germany. In the near term, it should also secure new LNG supplies.
Germany has been on the hunt for new LNG supplies in order to stave off the near term crisis of stuttering Russian gas supplies. Chancellor Olaf Scholz’s visit to Canada did not come through on the LNG front, but he did seal an ambitious deal on hydrogen.
Uniper has been hard hit by reduced Russian gas deliveries, posting major losses and with better times only coming in 2024, it has said.
European energy security faces a seemingly impossible task of meeting short-term demand with longer-term decarbonisation. Society does not have the luxury of declaring this to be impossible, though, so must take steps now to meet the challenges.
Germany has agreed to buy a stake in Uniper and also provide multi-billion euro in various instruments.
Uniper has retracted its financial guidance for 2022 as spiralling gas prices have driven it to seek support from the German government.
Germany has officially launched construction of an LNG terminal at Wilhelmshaven, while signing up preliminary agreements for four FSRUs.
Uniper has warned a “significant earnings decline” for the first quarter as it shifts its strategy to releasing gas later in the year.
UK coal-fired power generation jumped to the highest in a month, with wind generation slumping just as morning demand picked up.
Hundreds of jobs could be created in Orkney as part of ambitious plans to create a green hydrogen hub on the island.
Petrofac has signed up to a strategic partnership with Gazprom, with the aim of establishing itself in Russia.