Feb 28, 2018

Shell claims LNG requires $200bn investment

Sophie Chapman
2 min
Shell urges more to invest in LNG to meet demand by 2020
According to the British-Dutch oil and gas giant, Royal Dutch Shell, the liquefied natural gas (LNG) industry will need more than $200bn inve...

According to the British-Dutch oil and gas giant, Royal Dutch Shell, the liquefied natural gas (LNG) industry will need more than $200bn invested into it to meet demand.

The world’s leading LNG trader announced on 26 February that demand is set to significantly rise by 2020, following newly approved construction projects.

However, Reuters reported a decline in LNG spending since 2014 due to weakening energy prices.

In Shell’s 2018 LNG Outlook report, it notes the inevitable supply gap in the sector by 2020 if more funding is not provided.

Demand is expected to almost double from 2017’s recorded 293mn tonnes per year to 500mn tonnes per year in 2030.

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Supplies have been reported to slow, with forecast expecting a capacity of only 300mn tonnes per year.

“The industry is still looking at quite a challenge to build supplies to meet demand in the 2020s,” Maarten Wetselaar, Head of Integrated Gas and New Energies at Shell.

Wetselaar claims that the cost of developing a million tonne a year capacity is $1bn, and so to create the additional 200mn tonnes required, the industry will need $200bn.

“Our investment cycle is coming to an end with Prelude coming on stream this year. We will have the space to take investment decisions, (but) it doesn’t necessarily mean we will spend the money, he added.

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May 6, 2021

Global Offshore rebrands Enelift and invests in global hubs

Tubulars
rebrand
Globalhubs
Dominic Ellis
2 min
Enelift plans to augment existing solutions with robotics and remote operational and training technology

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."

 

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