Japan Inc to back Australian Industrial Energy project
Australian Industrial Energy, and liquefied natural gas (LNG) project, aims to import gas to New South Wales.
The Australian billionaire and former CEO of Fortesque Metals Group, Andrew Forrest, has formed a joint venture with Japan Inc to fund the consortium.
The Japanese firms include Marubeni and JERA, the joint venture between Tokyo Electric Power Co and Chubu Electric Power Co, and the world’s biggest LNG buyer.
The project aims to annually deliver 2mn tonnes of LNG to Australia’s east coast from 2020, in order to manage rising exports and lower production.
Australian Industrial Energy will be led by James Baulderstone, who previously worked for Santos Ltd, the oil and gas company.
"We have yet to complete the final feasibility studies, investment decision and regulatory approvals but it is already clear that this virtual pipeline provides the capability of accessing the world's most affordable gas and bringing it to the east coast market," Mr Baulderstone told The Australian Financial Review in confirming his leadership of the AIE project.
“Given the partners involved and their world leading expertise and capabilities, the project is very well placed to deliver firm, long-term gas and power supply to industry and the energy market at highly competitive prices and terms,” he added.
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."