Offshore Asia News - page 3


Asia Spot LNG Prices Rise on Uncertainty over Nord Stream, Japan Supplies

Jul 08, 2022

Asian spot liquefied natural gas (LNG) prices jumped this week on fears of possible Russian supply disruptions to Japan and on rising demand due to a heatwave and concerns over the return of the Nord Stream pipeline after its planned 10-day maintenance…

EXPLAINER: How Can Japan Secure Enough Gas if Sakhalin Supply Is Cut

Jul 08, 2022

Resource-poor Japan is facing a historic energy security risk as tensions with Moscow intensify, heightening the threat of gas supply disruptions at a time when global supply is tight and spot prices are sky-high.Last week, Russia seized full…

Fred. Olsen Windcarrier Jack-up Sets Off to Install Turbines at CFXD Wind Farms Offshore Taiwan

Jul 07, 2022

Fred. Olsen Windcarrier's Bold Tern offshore wind installation vessel has left Taichung in Taiwan with the first wind turbine loadout for Changfang and Xidao offshore wind farms, the company said via social media.Back in March 2020, Fred. Olsen…

Hellenic Cables to Deliver Inter-array Cables for Hai Long 2 & 3 Offshore Wind Farms in Taiwan

Jul 07, 2022

Hellenic Cables has signed an exclusivity and capacity agreement (ECA) to supply 66 kV XLPE-insulated inter-array cables and associated accessories for the Hai Long 2 and 3 offshore wind project in Taiwan.Hai Long offshore wind farm project in Taiwan will comprise two offshore wind farms (OWFs)…

'Energy Major' Buys 1,2 GW Floating Wind Farm Project from Hexicon Korea

Jul 06, 2022

Floating wind farm developer Hexicon Korea has agreed to sell its entire Yeonggwang Project, a floating offshore wind project off the south-west coast of South Korea, to an undisclosed major energy company.'Hexicon Korea thereby sells off its 40 percent stake in the project…

Valaris Bags $466M in Rig Deals. CEO Sees 'Constructive Outlook' for Offshore Drilling Industry

Jul 06, 2022

Offshore drilling firm Valaris said this week it has recently secured offshore drilling contracts and extensions worth $466 million in total, with the majority of the new backlog filled by a $327 million drillship deal with Equinor in Brazil…

Perdana to Provide AHTS Services to Petronas Carigali

Jul 06, 2022

Malaysia Perdana Petroleum has secured a work order extension from Petronas Carigali for the provision of an anchor handling tug & supply vessel.The initial contract lasted from August 4, 2021, until June 14, June 2022. Subsequently, Petronas…

Russia's Medvedev Says Oil Could Hit Up to $400 a Barrel if Japanese Proposal Adopted

Jul 05, 2022

Russia's former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil on the market and could push prices above $300-$400 a barrel…

Twelve Bodies Recovered From Waters Off Hong Kong After Typhoon Chaba Sinks Ship

Jul 04, 2022

Chinese search and rescue officials pulled 12 bodies on Monday from waters southwest of Hong Kong after an engineering vessel snapped in two as tropical storm Chaba passed through, state television said.Maritime authorities of the southern province…

More Than Two Dozen Missing after Ship Snaps in Two, Sinks Off Hong Kong

Jul 04, 2022

More than two dozen crew on an engineering [reportedly an offshore wind] vessel [Fujing 001] with 30 people on board were missing after it snapped in two in waters off Hong Kong as tropical storm Chaba passed through, authorities said.Three crew members were rescued…

Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices

Jul 01, 2022

Russia announced on Friday a decree that seizes full control of the Sakhalin-2 gas and oil project in the country's far east, a move that could force out Shell and Japanese investors and adds another bullish factor to prices in a tight global LNG market…

Portugal's EDP to Scale Up Offshore Solar Plants in Southeast Asia

Jul 01, 2022

Portugal's main utility EDP will scale up its offshore floating solar farms in Southeast Asia, hoping to get a big slice of 16 gigawatt of photovoltaic power the region is expected to install over rivers and seas by 2030.EDP Chief Executive…

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

Jul 01, 2022

India introduced export duties for gasoil, gasoline and jet fuel on Friday to help boost domestic supplies, while also imposing a windfall tax on oil producers that have benefitted from higher global crude oil prices.The new taxes, announced in government orders…

Russia to Replace Sakhalin-2 Project Operator with New Firm

Jul 01, 2022

Russia will create a firm which will take over all rights and obligations of the Sakhalin Energy Investment Company amid Western sanctions imposed on Moscow, a decree signed by President Vladimir Putin said on Thursday.The 5-page decree indicates…

Gazprom Cancels Dividend for First Time Since 1998. Shares Drop

Jun 30, 2022

Russian gas giant Gazprom has decided not to pay dividends on last year's results, the first time it will not pay out since 1998, sending its shares plunging by nearly 30%.'The shareholders decided that in the current situation it is not advisable to pay dividends based on the 2021 results…

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