Overall, more than 80% of the value of the awards will flow back into the UAE’s economy under Adnoc’s successful In-Country Value programme
NEWS
Korea-based GS Inima reaches $138mn financial closure for Oman desal plant
GS Inima has obtained financing for 100% of the project’s needs by signing a 22-year non-recourse loan under the Project Finance modality and a bridge loan to finance the project’s equity
Hitachi Energy wins major order to provide 2 HVDC systems to transmit green electricity
Hitachi Energy’s wind farm will have the capacity to generate up to 2.85 gigawatts of renewable electricity, enough to power more than three million UK homes
Nord Stream: Russia restarts gas flow to Europe at 40% of pipeline’s overall capacity
Further disruptions are expected as winter approaches, according to Wood Mackenzie, which outlines two scenarios for Europe in case of Nord Stream flows
ACWA Power, POSCO Holdings sign MoU to explore production of green hydrogen and ammonia
ACWA Power is at the forefront of scaling up green hydrogen, whose output—ammonia—will lead to the outcome of decarbonising entire industries, senior executive says
ADNOC and TotalEnergies sign strategic partnership agreement
ADNOC and TotalEnergies to explore opportunities to collaborate in areas of mutual interest, including in gas growth, CCUS and trading and product supply
Abdul Latif Jameel Energy’s FRV and Harmony Energy begin construction of UK´s battery storage project Clay Tye
The project reflects FRV’s (a part of Abdul Latif Jameel Energy) long-term investment plan to develop energy storage projects globally in countries like Australia, Mexico, Chile and Spain.
Worley wins 3-year contract to provide engineering and procurement services for Shell
Worley will support Shell’s transition to a digitised and more efficient project delivery model for continued maintenance and improvements of its offshore assets
Renewable power remains cost-competitive amid fossil fuel crisis in 2021: IRENA report
New IRENA report shows almost two-thirds of renewable power added in 2021 had lower costs than the cheapest coal-fired options in G20 countries.
3 trends shaping transformation efforts across the energy spectrum: Report
Adnan Merhaba, Partner, Energy & Utilities Practice Lead and Carlo Stella, Partner, Energy & Utilities Practice, from Arthur D. Little Middle East talk about the growing need for meaningful change in the energy sector