Category Archives: Offshore

Denmarks Copenhagen Infrastructure Partners (CIP) has unveiled plans to build a Power-to-X plant in Esbjerg which will convert power from offshore wind turbines to green ammonia.

Consisting of 1 GW electrolysis, the plant will be Europes largest production facility of CO2-free green ammonia, CIP said.

The ammonia will be used by the agriculture sector as CO2-free green fertilizer and by the shipping industry as CO2-free green fuel.

The excess heat will be used to provide heating for around one-third of the local households in Esbjerg.

The announcement is made in collaboration with companies within the agriculture and shipping industries including Arla, Danish Crown, DLG, A. P. Moller Maersk, and DFDS.

Together with CIP, they have signed a memorandum of understanding, in which the signatories commit themselves to work towards realizing the establishment of the facility.

With this project, we support further development to cut CO2 emission from agriculture and shipping in Denmark, through the use of CO2-free green fertilizers and green fuel. The agriculture and shipping industries are industries, which are embarking on a journey of decarbonization. Solutions such as Power-to-X are key for these industries to take the next big leap within the decarbonization, said Christian Skakkebk, Senior Partner in CIP, responsible for the Energy Transition Fund.

CIP has recently announced its new Energy Transition Fund to invest in P-t-X and other next-generation renewable technologies. This enables investors to participate in the decarbonization of sectors, such as agriculture and transportation, in addition to renewable electricity generation.

Among the potential investors in the project in Esbjerg and the new fund is PensionDanmark.

More than 10 years ago, we were a first mover into renewable infrastructure investments including offshore wind. We are excited about the opportunity to continue investing with CIP at the forefront of the energy market developments, beginning with the project in Esbjerg, and will present the opportunity to our Board next month, said Torben Mger Pedersen, CEO PensionDanmark and chairman of the Danish Governments Climate Partnership on Finance.

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Offshore Wind to Power Europe's Largest Power-to-X Plant - Offshore WIND

SSE Renewables and Acciona have signed an exclusivity agreement to form a joint venture targeting opportunities in the emerging Iberian offshore wind market.

The 50:50 joint venture will develop, construct and operate offshore wind, as well as other renewables in Spain and Portugal.

Spain and Portugal have both set net zero emissions targets for 2050 and are two of the leading countries in Europe for renewable energy in terms of capacity built to date and ambitions for the future.

The Spanish Government is expected to publish an offshore wind strategy this year.

The exclusivity agreement between SSE Renewables and Acciona also includes scope to jointly explore other offshore wind markets beyond Spain and Portugal.

SSE Renewables managing director Jim Smith said: I am delighted to be entering into this exclusivity agreement with Acciona.

Partnering with a well-established Spanish renewable developer will enable SSE Renewables to bring its offshore wind expertise to help Spain and Portugal achieve their ambition to reach carbon neutrality by 2050.

It also demonstrates our intent to build our strong wind energy pipeline beyond the UK and Ireland.

Acciona CEO Rafael Mateo added: After successfully developing a leading global position in onshore wind and photovoltaic technologies, a partnership with SSE Renewables will allow us to accelerate our entry into the offshore wind market, where we also see great potential.

It is a natural step forward in our strategy of providing the best possible alternatives for clients looking for clean energy solutions.

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SSE Renewables, Acciona forge offshore wind joint venture - reNEWS

Now under construction by Keppel AmFELS, which is also undertaking theengineering and procurement for Dominion Energy, the 472-foot vessel isdesigned by GustoMSC to handle turbine sizes of 12 MW or larger and willalso be capable of the installation of foundations for turbines and otherheavy lifts. The vessel, Charybdis, will have accommodation forup to 119 crew and wind farm technicians. Seajacks will assist DominionEnergy with construction and operations oversight.ABS is the ideal partner for a highly specialized wind turbine installationvessel such as this for the U.S. market. Our extensive knowledge of U.S.regulations combined with offshore industry leadership means we are uniquelyequipped to support this project and a range of other innovative vesselsnow being commissioned for U.S. wind farms. ABS is committed to playinga significant role in the safe development of the U.S. offshore wind industry,said Matt Tremblay, ABS Senior Vice President, Global Offshore.

Mohamed Sahlan, President of Keppel AmFELS, said: "We are pleasedto be able to build the largest wind turbine installation vessel in theU.S. for Dominion Energy and support the growing offshore wind industry.Keppel AmFELS has a solid track record and capabilities in a wide rangeof offshore vessels and we are also able to leverage the experience ofour parent company, Keppel Offshore & Marine, in offshore renewablesto provide a compelling construction solution for this milestone project."Dominion Energy is proud to be leading a consortium of respected industryparticipants in the construction of the first Jones Act compliant offshorewind turbine installation vessel, which will provide significant Americanjobs, and provide a reliable, home-grown installation solution with thecapacity to handle the next generation of large-scale, highly-efficientturbine technologies, said Mark D. Mitchell, Senior Vice Presidentof Project Construction. This will better enable the offshore windindustry to bring clean, renewable energy to customers in the U.S.

Seajacks Chief Executive Blair Ainslie said: This next-generationturbine installation jack-up vessel is vital to the safe and cost-effectivedeployment of offshore wind energy in the U.S. Seajacks operates a fleetof offshore installation jack-ups in Europe and Asia and is looking forwardto developing the offshore wind supply chain in the U.S. with our partners.Charybdis is just the latest vessel for the U.S. offshore wind industryto be supported by ABS. The first U.S flagged Jones Act offshorewind farm service operation vessel (SOV) ever ordered will be built toABS Class. ABS has also issued AIPs for two Jones Act SOVs to Vard andfor a series of other wind support vessels from European designers.

For more information on installationand maintenance of major offshore wind farm components, clickhere.

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ABS to class first Jones Act installation vessel - 4C Offshore

By Ari Rabinovitch

JERUSALEM (Reuters) Israelis trying to find the ship responsible for anoilspillthat drenched much of its Mediterranean shoreline with tar, an environmental blow that will take months or years to clean up, officials said.

Thousands of volunteers gathered on Sunday to remove the clumps of sticky black refuse from the pale beaches.Israels military said it was deploying thousands of soldiers to help with the effort. Authorities warned everyone else to keep their distance until further notice.

Environmental groups called it an disaster. Attesting to the cost to wildlife, they posted pictures of tar-covered turtles.

The event began last week during a winter storm, which made it harder to see the tar approaching and deal with it at sea,Israeli officials said.

Together with European agencies,Israelwas looking as a possible source at a Feb. 11oilspillfrom a ship passing about 50 km (21 miles) from shore. Satellite images and modelling of wave movements were helping to narrow the search.

Nine ships that were in the area at the time are being looked at, said Environmental Protection Minister Gila Gamliel.

There is a more than reasonable chance that we will be able to locate the specific ship, she told Ynet TV.

If found,Israelcould take legal action. One course would be to sue insurance companies for compensation to help deal with the ecological fallout, she said, which could cost tens of millions of shekels.

Late last week a 17-metre-long (55ft) fin whale was found washed up on a beach in southernIsrael. The Nature and Parks Authority said on Sunday that an autopsy had foundoil-based material in the whales body, with further tests pending.

(1 shekel = $0.31) (Reporting by Ari Rabinovitch Editing by Raissa Kasolowsky)

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Israel Investigates Ships As Source Of Mystery Offshore Oil Spill gCaptain - gcaptain.com

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With the US China trade war, US elections, civil unrest inHong Kong and a global pandemic, 2020 posed enormous challenges forthe investment fund industry in the Asia-Pacific region.

In this interview, excerpts of which originally appeared inAsian Legal Business, Ogier partner and head of ESG Funds in HongKong Kate Hodson discusses how offshore law firms have stepped upto meet this changing business landscape, the ramping up ofregulations, and the growing momentum around ESG.

It's hard to look back at 2020 without focusing on theimpacts of Covid-19. At the start of the year there were liquidityconcerns and a significant number of projects put on hold, withmany of our China deals stalling. However, as lockdowns eased andthe asset management industry in Asia adjusted to "the newnormal", activity quickly resumed. The tech industry inparticular proved very resilient and there were a number ofpandemic-induced opportunities such as in healthcare and thoseindustries benefiting from changing purchasing patterns, with ahuge shift to online spending. However, other key trendsevolved irrespective of the pandemic including increased regulationand the emergence of new forms of fund vehicles.

During my 11 years with Ogier I have seen the team kept busywith increased layering of regulation for funds and asset managers,including in respect of AML, FATCA and CRS, Economic Substance,data protection and so on. 2020 saw a new development in theprivate equity space with private funds domiciled in the CaymanIslands and British Virgin Islands becoming subject to regulation.The new legislation was a result of certain EU and otherinternational recommendations and was developed to align the BVIand Cayman Islands investment fund regulatory regime with otherjurisdictions. In terms of new fund vehicles, Hong Kong andSingapore have been increasingly competing as a funds domicile withHong Kong introducing the new limited partnership fund regime andthe Singapore VCC becoming available.

Despite the increasing choice available to managers in terms offund domicile, we continue to see a strong interest in CaymanIslands fund structures with our 13-strong investment funds team inHong Kong remaining extremely busy for 2020. We have also startedto see more interest in BVI funds and managers in the last 6 monthsas we see some managers accessing differences in regulatorytreatment for their particular structures.

Another key trend has been the momentum around ESG. This hasstarted to translate into new funds products arising in Asia whichincorporate ESG in some form. We have also seen a number ofmanagers indicating interest to bring more ESG strategies to themarket. This reflects a diversification in the sustainableinvestment product bank away from fixed income. Beyond newproducts, we are seeing a number of things happening in the fundsindustry related to ESG, including a spree of hiring individualswith experience in sustainable finance. This is not just into assetmanagement firms but also banks and accounting firms. There hasalso been increased opportunities for new partnerships andco-operations such as in the form of blended finance and NGOsworking with asset managers on fund launches.

We see ESG as a long-term trend as substantiated by thecommitments seen at the levels of government, as well asregulators. As an example, both Hong Kong and Singapore havestarted a consultation process with regards to guiding the assetmanagement industry on climate disclosures and are competitivelypositioning themselves as Asia's green financial centres. Infact, the SFC in Hong Kong is proposing to introduce measures torequire HK licensed fund managers to consider climate related risksin their investment and risk management processes.

The headwinds this last year have been unprecedented, with theglobal impacts of the pandemic, the chaos surrounding the USelections, continued tensions around the US/China trade war,political unrest in Hong Kong and the introduction of the Hong Kongnational security law, to name a few. This has put certainstrategies under particular pressure whilst benefiting others. Italso drove high levels of innovation and adaption with many firmsseeing staff move to remote working for much of the year. Thecircumstances highlighted those with the strongest contingencyplans and technology solutions, with others quickly investing tomeet their technology needs. Operational due diligence also had togo-online in order for deals to be able to push ahead with travelrestrictions in place and social distancing limitations.

Given the significant number of regulatory changes at the startof the year it was important to continue to reach clients andsupport their needs as efficiently as possible. Technology was verymuch at the forefront of the solutions. We were quick to move toonline seminars, rolling out educational series at the start of theyear and continued to deliver these over the course of the year.Further, Ogier's IT infrastructure and common use of testedplatforms allowed us to facilitate a timely move to remote workingand online deal completion.

Ogier has been using an electronic signature product for sometime now and we were able to roll this out to clients who wereunable to provide wet ink signatures. Fortunately, the CaymanIslands has been well placed to adjust to the move to the signatureof documents in electronic form having introduced the CaymanIslands Electronic Transactions Act in 2003.

A key aspect of delivering to clients this year was also seen inthe high levels of collaboration between the offshore law firms aswe came together to ensure that the raft of new regulatory changesfor the funds industry in the BVI and Cayman Islands was dissectedand disseminated in a clear and as consistent manner as possible tosupport the industry. It was very much an industry firstmentality and this was particularly important with clients under somany other strains this last year. The funds team at Ogier alsomade an important new hire in Dave Sherwin to lead a dedicatedregulatory practice in Cayman. Clients have been benefitingfrom this dedicated regulatory support.

Whilst there have been many downsides to the lack offace-to-face interactions in the industry there has also been aresulting efficiency benefit. As an example, we have beenable to attend more conferences this last year than ever before andacross a wider number of jurisdictions as we have been able to doso from the comfort of our homes and offices. However, onlineforums don't offer the same networking opportunities and soextra efforts have been required to stay connected and to continueto expand our connections.

I am sure that to a fund manager it feels like every year, a newfund regulation. Keeping up with all the developments can be a fulltime job. However, one important takeaway is the adaptability ofthe industry. When FATCA and CRS first came out there was a realconcern about how firms would cope with the requirements. However,that seems a long distant memory now and has become a relativelystandard process for funds, largely taken care of by fundadministrators.

One new type of regulation that has perhaps taken managers bysurprise in the APAC region is the gradual introduction of climatechange regulation. Legal frameworks have begun to reflectsupport for the transition to a low carbon economy and thistransition is expected to have a major impact on financial marketsand products in the near to medium term.

The two key offshore regulatory changes affecting our Hong Kongfunds practice was the new regulatory regimes for BVI and Caymanclosed ended fund vehicles. In Asia these have been two of the mostpopular jurisdictions for private equity, venture capital, realestate and credit funds and so the changes affected a significantportion of funds in the closed ended space. Despite the newobligations of having to become registered with a regulator, we sawvery little interest to move out of these jurisdictions to avoidregulation. Rather, most in-scope entities have chosen to registerwith the BVI and Cayman regulators.

Through the process of registration it became apparent thatthere were a lot of Cayman funds out there over 12,200closed-ended entities registered by the August 2020 deadline. Inaddition, there are more than 11,600 open ended hedge fundsregistered with CIMA. Whilst the introduction of the new regimesinitially might have been seen as a bit of shake-up, once againmanagers have adapted. We haven't seen this as detractingfrom the continued interest in Cayman and the BVI for fund set-up,although there is now perhaps a slight uptake in drilling into therespective regulatory treatment of different vehicles in eachjurisdiction.

The start of 2021 has demonstrated a significant amount of pentup activity and we are experiencing a very busy January with asignificant number of new fund launches kicking off and newenquiries. We are cautiously optimistic about the 2021pipeline.

I would expect to see greater levels of sustainable investmentin 2021. In Standard Chartered Private Bank's SustainableInvesting Review 2020 report, a survey of around 1,000 investorswith a focus on affluent and HNW investors in Singapore, Hong Kong,the UAE and the UK, found that 90% of respondents in Asia said theyare interested in sustainable investments and 42% plan to investbetween 5% and 15% in this area over the next 3 years. The pandemichas accelerated and highlighted the importance of sustainabilityand ESG factors as a business strategy for some of the world'slargest companies and this is not a momentum I expect to slow evenas we come out of the pandemic.

Another key trend is likely to be China focused activity withthe further opening up of China to foreign investment, allowingforeign firms to take majority stake ownerships in securities andfund management firms.

Offshore law firms, like any law firm, need to be innovative andforward thinking. Just as is the case for the businesses we advise,law firms need to consider how they build resilience to ensuresustainability. We have an active focus on D&I, the environmentand wellness, in addition to our investment in technology andclient services. The environment has become a particularlybig focus for us. We are building an environmental managementsystem for the firm and have hired a head of sustainability to leadthis process. As an example of innovation, Ogier created anentirely new service line during the pandemic which sets it apart,namely Ogier Global's ESG and Impact Advisory business. Thisservice line, which offers bespoke ESG and Impact design,integration, and implementation solutions, supports clients tonavigate ESG goals and requirements and to leverage the landscapeof sustainable investing opportunities.

Originally Published by Ogier, February 2021

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

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How Offshore Law Firms Have Stepped Up To The Challenges Of 2020: Q&A With Kate Hodson - Finance and Banking - Hong Kong - Mondaq News Alerts

The offshore explosion

The nineties saw an explosion in the deployment of offshore service centres, the most popular destinations being China, India, Malaysia, Indonesia, Philippines and Brazil. The main benefit of this dash to offshoring and outsourcing was seen as reduced cost, given the compelling lower staffing and real estate costs these locations could offer. And with global spending on service centres estimated to be someUS$325 billion annually, according to Everest, it was a desirable proposition. However, as so often is the case, everything that glitters is not always gold, as there have been some well-documented offshoring problems.

These include:

Heading for home

In recent years, due to plummeting customer satisfaction rates and spiralling costs, there has been a reversal in the offshoring trend as many firms have decided to up sticks and head for home. In 2010, only 35% of service centres were onshore; by 2015, this had risen to 53%. As the cost benefits reduce, so too has to the tolerance of the limitations of offshoring as many firms recognise the need to increase employee and client satisfaction by automating processes for a slicker service, and upskilling staff. However, while this can be done in offshore centres, often it is more easily achieved locally.

Out with the old and in with the old?

According to a Fukuoka Mutual Life Insurance study, pre-pandemic home working had proven to reduce costs by an estimated 10%. But now, unfortunately, for many, working from home is essential. The advantages of a near-permanent home working model from a cost perspective are apparent, as firms will no longer need to maintain expensive office space and related operating expenditure. Sounds plausible, but without careful consideration and planning, could one merely be replacing the challenges encountered with the offshore model with similar problems on the newly deployed home territory?

The rise of the mighty customer

These days disgruntled customers have a mighty voice and are not afraid to use it. Easy access to influential social media channels is either a firm's best friend or their worst nightmare, and unhappy customers can make or break a reputation almost overnight. Modern technology has a significant role to play and is already proven to enable a business to deliver a seamless and highly positive customer experience. Scarily, according to a report by Contact Centre Helper and Calabrio in May 2020, based on 300 contact centres surveyed, only 1 in 10 businesses have their service facility based in the cloud, but 8 out of 10 are now deploying cloud software, or at the planning stage.

The onset of coronavirus worldwide and subsequent spikes in incoming communication, mainly via email and voice calls, led to 70% of companies providing clients with an increasing range of automated alternatives. This spike caused massive issues as firms struggled to support overworked and distressed call handlers and increasingly dissatisfied customers, leaving many scrabbling to find a solution to this unsatisfactory situation.The answer is undoubtedly intelligent business automation provided by new AI-powered SaaS technology, which can automate inefficient and time-consuming labour-intensive processes based on unstructured data such as incoming emails. Apart from significant cost benefits, this strategy also enables a firm to liberate its staff to work on more productive, value-added tasks, leading to the higher employee and customer satisfaction that all businesses crave.

By using the latest SaaS/CCaaS (Customer Centre as a Service) technology based in the cloud, a few forward-thinking firms have already adopted technologies which has transformed inefficient home working into a highly productive customer-centric business environment,If remaining offshore is the preferred option, adopting a cloud-based customer centre will also allow firms to provide a more seamless, automated service. So, while to some extent, the place of domicile becomes irrelevant if this comes at the expense of increased customer satisfaction as reported by clients when the call centre is closer to home, the price could become fools gold. The choice is yours.

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When it comes to offshore call centres, what price is a happy customer? How can AI help? - Finextra

RWE and a BP/EnBW consortium were the two biggest winners in the latest round of auctions to lease the rights to develop offshore wind farms off theU.K. coast.

The results, announced Monday morning, revealed the preferred bidder status for enough seabed to support8 gigawattsof offshore wind capacity. The rights are managed by the Crown Estate, which controls access to the seabed up to 200 miles from shore.

Notable in its absence was Danish developer, and global market leader, rsted. Other active U.K. offshore wind players SSE, Vattenfall and E.On were also missing.

German utility giant RWE secured 3 GW of capacity in two 1,500-megawattchunks in the Dogger Bank area off the east coast of England. BP and another German utility, EnBW, saw their consortium awarded space in two 1,500-MW blocks of Englands north-west coast.

A JV between investor, the Green Investment Group and French oil major Total took 1,500 MW in a space south of BP and EnBW. The final 480 MW was awarded to Spanish construction giant Grupo Cobra and Flotation Energy. The pair are behind the Kincardine floating offshore wind project off the coast of Scotland, which will be the worlds largest once complete.

A Flotation Energy spokesperson confirmed that this project will be fixed-bottom, not floating.

We are convinced this Irish Sea project has huge potential with unique strengths and advantages, based on a high wind resource, low water depths, 20-30m, short distance to shore, less than 20 miles, and good ground conditions, the spokesperson added.

The leases mark BPs first foray into offshore wind in the U.K. BP and Equinor officially sealed their offshore wind partnership in the U.S. last month.

Writing on LinkedIn on Monday, BP CEO Bernard Looney said it expected its projects to be completed within seven years.

We love these leases as theyre close to shore and right next to each other, so we can use the same equipment. That means we can get them operational faster we expect within seven years, he wrote.

BP/EnBW bid almost double the rate of its competitors at 154,000 per MW. One of RWEs blocks was secured for 76,203 per MW. Looney insisted the projects will deliver the 8 to10 percent returns the firm is insisting on for projects to pass muster in its low carbon portfolio. Nearshore siting and adjacent blocks will help with that process.

RWE Renewables new sites are close to its 1.4 GW Sofia project, which is scheduled to begin construction this year.

Despite the auction firing the starting gun on another 8 GW of projects, trade body RenewableUK warned that too few sites had been made available for bidding driving up prices. The third round in 2010 yielded 32 GW of leases the group pointed out.

The auction was run differently this time around. Winners in this fourth round of seabed leases bid per MW of supported capacity. The fees are paid annually until such time as developers reach financial close.

The result of this leasing round shows that while demand for new offshore wind projects has never been higher, too few sites were made available to meet this demand, RenewableUKs Deputy CEO Melanie Onn. Any auction run on that basis will inevitably lead to high fees like these, and our concern is that this could ultimately mean higher costs for developers and consumers.

Going forward we need more clarity from the Crown Estate on the timing, size and speed of future leasing rounds. Sustainable competition and prices are vital for consumers, industry and the supply chain, she added.

RenewableUK figures suggest that these leases will average 111 million per year per 1 GW. Projects could take four years to complete permitting and financing hurdles for a total cost of nearly 450 million

The U.K. currently has around 10 GW of offshore wind capacity and is targeting 40 GW by 2030.

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BP, RWE and EnBW Win Big in UK Offshore Wind Leasing Round - Greentech Media News

Dublin, Feb. 08, 2021 (GLOBE NEWSWIRE) -- The "Offshore Pipeline Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Diameter (More than 24 inches and Less than 24 inches), Line Type (Export Line, Transport Line, and Others), and Product (Oil, Gas, and Refined Products)" report has been added to ResearchAndMarkets.com's offering.

The market was valued at US$ 11.97 billion in 2019 and is projected to reach US$ 15.01 billion by 2027; it is expected to grow at a CAGR of 3.1% from 2020 to 2027.

The US, Canada, and Mexico are major economies contributing to the offshore pipeline market in North America. North America is a developed region in terms of various factors such as modern technology, standard of living, and infrastructure. The region comprises ~14% of the crude oil and 6% of the natural gas reserves in the world.

It supplies ~23% of oil and ~27% of gas to the world. It represents ~22% of the total energy consumed worldwide. The US and Canada are witnessing exceptional growth in the production of shale reserves, fossil fuel, oil sands, and tight oil. The oil & gas industry in North America is anticipated to witness low investments in the exploration and production activities during the forecast period.

North America is still recovering from the decline in crude oil prices. Countries in the region are highly investing in new technologies, which is expected to result in more exploration activities in offshore. Offshore oil and gas pipeline infrastructure in the US and Canada is anticipated to continue running on full capacities in the coming years. In the US, ~70% of petroleum products and crude oil are supplied through pipelines. In Canada, ~97% of petroleum and natural gas products are shipped through pipelines.

The demand for energy generated in North America is growing; therefore, the exploration and production are moving toward harsh environments. In particular, the recent discovery of a few new extraction techniques has opened multiple oil and gas shale regions in extremely remote areas. The transportation of produced crude and natural gas from these remote locations would drive the growth of the offshore pipeline market in North America.

US to Dominate North America Offshore Pipeline Market during Forecast Period

The US is an economically developed country, and it experiences constant improvements in various technologies and infrastructures. Trump administration's "America First" energy plan promises gas and shale oil revolution to make America energy independent and create energy-related jobs for the majority of Americans. The US is witnessing a drastic boom in the energy and oil sector, and has increased the production of oil and gas. With the growing number of offshore oil & gas production activities in the Gulf of Mexico, the US is anticipated to witness substantial growth in the offshore pipeline market during the forecast period.

Moreover, upcoming 18 new gas production projects are alleged to hold a combined 836 billion ft3 of natural gas reserves. In 2018, Chevron Corporation announced that the Chevron-operated Big Foot deepwater project, located in the US Gulf of Mexico, has started crude oil and natural gas production.

Thus, the surging number of offshore oil and gas production projects drives the demand for pipeline systems and services, which bolsters the growth of offshore pipeline market.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Offshore Pipeline Market Landscape4.1 Market Overview4.2 PEST Analysis4.3 Ecosystem Analysis4.4 Expert Opinion

5. Offshore Pipeline Market - Key Market Dynamics5.1 Market Drivers5.1.1 Rise in Demand for Natural Gas and Crude Oil5.1.2 Requirement for Safe, Cost-Effective, and Efficient Connectivity5.2 Market Restraints5.2.1 Complications Associated with Cross - Border Pipeline Transportation5.3 Market Opportunities5.3.1 Discovery of New Oil & Gas Reserves5.4 Future Trends5.4.1 Developments in Flexible Pipe Technology5.5 Impact Analysis of Drivers and Restraints

6. Offshore Pipeline - Global Market Analysis6.1 Offshore Pipeline Market Overview6.2 Offshore Pipeline Market - Revenue, and Forecast to 2027 (US$ Million)6.3 Market Positioning - Global Market Players Ranking

7. Offshore Pipeline Market Analysis - By Diameter7.1 Overview7.2 Offshore Pipeline Market, By Diameter (2019 and 2027)7.3 More than 24 inches7.4 Less than 24 inches

8. Offshore Pipeline Market Analysis - By Line Type8.1 Overview8.2 Offshore Pipeline Market, By Line Type (2019 and 2027)8.3 Export Line8.4 Transport

9. Offshore Pipeline Market Analysis - By Product9.1 Overview9.2 Offshore Pipeline Market, By Product (2019 and 2027)9.3 Oil9.4 Gas9.5 Refined Products

10. Offshore Pipeline Market - Geographic Analysis

11. Impact of COVID-19 Pandemic on Offshore Pipeline Market11.1 Overview

12. Industry Landscape12.1 Overview12.2 Market Initiative12.3 New Product Development12.4 Merger and Acquisition

13. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/apj4au

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Global $15 Billion Offshore Pipeline Market to 2027 by Line Type (Export Line, Transport Line), and Product (Oil, Gas, and Refined Products) -...

FILE PHOTO: Wind turbines generate power on a farm near Throckmorton, Texas U.S. August 24, 2018. Picture taken August 24, 2018. REUTERS/Nick Oxford

(Reuters) - The Biden administration said on Wednesday it would restart permitting for the first major U.S. offshore wind farm, reversing a Trump administration decision that canceled the process late last year.

The U.S. Bureau of Ocean Energy Management (BOEM) said in a statement it would resume an environmental review of the Vineyard Wind project as part of the administrations broad plan to speed renewable energy development on federal lands and waters.

BOEM is committed to conducting a robust and timely review of the proposed project, Director Amanda Lefton said in the statement.

In December, Vineyard Wind requested a pause in the federal permitting process while it determined whether changes to its design were necessary because of a switch in turbine manufacturers, prompting BOEM to terminate its entire review.

Former President Donald Trump had promised to support the nascent U.S. industry as part of his energy dominance agenda, but the permitting of Vineyard Wind was delayed repeatedly in part due to concerns its turbines would interfere with commercial fishing.

Vineyard Wind is a joint venture between Avangrid Inc, a unit of Spains Iberdrola, and Denmarks Copenhagen Infrastructure Partners. The project is 15 miles (24 km) off the coast of Massachusetts. Once constructed, it is expected to provide power to more than 400,000 Massachusetts homes.

Were very pleased, Vineyard Wind said in a statement. We look forward to working with the agency as we launch an industry that will create thousands of good paying jobs while also taking meaningful steps to reduce the impact of climate change.

The Responsible Offshore Development Alliance, a fishing industry group, said it hoped the resumption of the permitting process would provide new opportunities for the public to weigh in on the project.

Reporting by Nichola Groom; Editing by Leslie Adler, Peter Cooney and Edwina Gibbs

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Biden administration to restart permitting for major U.S. offshore wind project - Reuters

Sales decline 29.71% to Rs 214.36 crore

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First Published: Mon, February 08 2021. 12:57 IST

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Aban Offshore reports consolidated net loss of Rs 281.52 crore in the December 2020 quarter - Business Standard