| Today in Metals News we feature an interesting article from the steel maker Corus who are now expanding further into Eastern Europe. More and more companies now see the benefits of doing business and expanding into the growing economies of the old Eastern Block. For more details please read on:
Corus expands into Eastern Europe steel market |
|
The growing markets of Central and Eastern Europe are opening up exciting new opportunities for Corus. Over the past year, the wire rod business has doubled the volume of automotive component steels it supplies into the region and tripled its customer base in these emerging economies. Consistent supplies of wire rod are now being delivered into Poland, Hungary, the Czech Republic, Slovakia and Slovenia, where Corus has attracted a host of new customers in the past 12 months.
A first batch of high-quality steel has also been sent into Russia, opening up a new supply route into a market that is expected to grow substantially in the coming years.
’We recognise the importance of these countries in the future of Europe, and we are delighted that our premium-quality steels and delivery capabilities are meeting the aspirations of rod processors in the area’, says Sales Manager, Grant McBain. ’There are some major car plants in the region and the market is growing strongly’.
’We are supplying a range of automotive spring, machining and cold-heading steels’. ’The rate of adoption of our steel here has been faster than we have seen anywhere else in the world, with sales last year up by almost 70%’.
Supporting this eastern expansion is the network of Corus offices across the region. There are now knowledgeable wire rod representatives working in Prague, Budapest, Kiev, Poland and Moscow.
’We have tried and proved our transport routes into the region’, adds Grant.
’Using unit loads by lorry enables us to maintain exceptional delivery condition from the UK, with minimal handling’.
’This is essential for our sensitive, premium-grade steels’.
’Through a collaboration with the University of Gent in Belgium, the wire rod business is also exploring optimum logistics routes into eastern Europe and beyond’.
’We are working with academics and customers to develop supply-chain strategies that will enable us to offer UK levels of service and availability across Europe’.
Grant adds: ’We know we have the quality of product demanded by customers in the area, and we are building our cultural understanding through local offices’.
|
Corus News – Corus expands into Eastern Europe steel market
May 22, 2007
Leave a Comment » | 
Metals News | 
Permalink
Posted by thecabledirectory
BP News – Rio Tinto and BP Join Forces to Develop Clean Energy Worldwide
May 17, 2007Two Energy Giants Rio Tinto and BP are teaming up and entering into Clean Energy Market. This sector is growing very quickly and its obvious the big boys want their share of the apple pie. For the full article please read on:
Rio Tinto and BP Join Forces to Develop Clean Energy Worldwide
BP and Rio Tinto today announced the formation of a new jointly-owned company, Hydrogen Energy, which will develop decarbonised energy projects around the world. The venture will initially focus on hydrogen-fuelled power generation, using fossil fuels and carbon capture and storage (CCS) technology to produce new large-scale supplies of clean electricity.
Decarbonised energy projects are based on the conversion of fossil fuel feedstocks such as coal, petroleum coke (a refinery by-product) or natural gas, to hydrogen and carbon dioxide gases, with the carbon dioxide being captured and sent for permanent storage in geological formations deep beneath the Earth’s surface.
In power projects, the hydrogen would be used to fuel a gas turbine for generation of industrial-scale supplies of electrical power. Full integration with CCS technology would ensure that 90 per cent of the carbon dioxide which would otherwise have been emitted to the atmosphere would be safely captured and stored.
There is rapid worldwide development of new power generating capacity as older power stations are replaced and new plants built to meet growth in demand, particularly in the rapidly expanding economies of the developing world. According to the International Energy Agency, about two-thirds of the generating capacity that will be needed in the next 25 years has yet to be built. Much of the growth will be in countries where coal is abundant and so the fuel is expected to be a significant part of the energy mix.
The recent UN Intergovernmental Panel on Climate Change (IPCC) report into the potential to mitigate the effects of climate change recognised that reducing carbon dioxide emissions from power generation will be vital and that technologies such as CCS will have a key role in meeting the challenge. It also recognises the role of governments in putting in place appropriate regulatory and support mechanisms to enable this to happen.
Hydrogen Energy will benefit from the world-leading capabilities of both parent companies: Rio Tinto’s expertise and world-class assets in coal extraction and supply; and BP’s experience and expertise in chemical processing, low carbon power generation and carbon capture and storage.
Tom Albanese, Chief Executive, Rio Tinto, said: “Coal is a key part of Rio Tinto’s energy business and we believe it has an essential role in generating clean power in the future. The investment we are making in Hydrogen Energy will allow us to deliver decarbonised energy and carbon capture and storage. Although initial projects may be based on non-coal feedstocks, they will be significant building blocks in the development of coal gasification on an industrial scale. Investing now means we will be well-placed to create value for shareholders from opportunities in the emerging clean power market.”
Tony Hayward, BP group chief executive, said: “Projects such as these have the potential to help deliver the carbon emission reductions which companies and countries around the world are now seeking. This will only be possible if companies work together and work alongside governments. The combination of skills and experience which BP and Rio Tinto bring will allow us to accelerate the development and deployment of these important new technologies and projects.”
Hydrogen Energy, whose final formation will be subject to regulatory approvals, will identify and secure opportunities for decarbonised energy projects worldwide, working with governments to determine appropriate policies and regulatory regimes, and develop and operate the assets, with partners where appropriate. The projects will typically use coal or petroleum coke as feedstock; although in some cases natural gas may be used.
The previously announced hydrogen-fuelled power projects in Peterhead, Scotland and Carson, California will become part of Hydrogen Energy. As part of the agreement, Rio Tinto will make a cash payment to BP of some $32million, subject to post-completion adjustments.
Hydrogen Energy will be headquartered in Weybridge in the south-east of England and will initially have a staff of 75 seconded from the parent companies. The chief executive of Hydrogen Energy was today named as Lewis Gillies, formerly head of BP’s hydrogen power business and its chief financial officer as Peter Cunningham, formerly head of business evaluation for Rio Tinto.
1 Comment | Energy & Renewable | Permalink
Posted by thecabledirectory
Prysmian News – Prysmian S.P.A. First Quarter 2007 Results
May 17, 2007| Today we feature a press release from one of our Multi Media Partners, and the world leader in the Cable Industry, Prysmian the Italian Giant. They only managed to turnover 1.2 Billion Euros in the first Quarter, not bad for a company in its third year.. For further details please read on:
Prysmian S.P.A. First Quarter 2007 Results |
|
The Board of Directors of Prysmian S.p.A., a world leading company in the energy and telecommunications cables and systems industry, approved today its financial results for Q1 2007. Sales for the first quarter of 2007 reached €1,205 million, an 8.9% increase compared to € 1,107 million in the same period of 2006 (organic growth was 8.7%).
Profitability increased sharply, with EBIT growing to €135 million in Q1 2007 from €52 million in Q1 2006. Cash Flow from Operations was positive for €29 million, thanks to the improvement in profitability and the effective management of working capital (in Q1 2006, Cash Flow from Operations was negative for €22 million).
“The excellent results of the first quarter 2007 confirm Prysmian’s continued ability to generate a very strong performance,” stated Chief Executive Officer Valerio Battista. “Results improved further compared to the positive trends recorded in 2005 and 2006. In a favourable market, Prysmian benefited from the ongoing efforts to refocus its offer on high added-value products and services, its constant attention to the level of profitability in traditional business segments, and the strengthening of its presence in markets with high prospects of growth and profitability. Thanks to this strategy, the Company continues to confirm its ability to create value for its shareholders”.
PERFORMANCE AND RESULTS OF THE BUSINESS UNITS
Energy Cables & Systems
Sales of the Energy & Cables Systems business unit in Q1 2007 reached €1,081 million, with an increase compared to €1,002 million for the same period of the previous year (organic growth was 8.2%). EBIT increased sharply to €94 million from €46 million in 2006, translating into a strong improvement in EBIT margin, which rose from 4.6% to 8.7%.
The trend was positive in all three areas of the Energy Cables & Systems business unit. Particularly significant factors include: the robust growth of the Industrial business area; the good order backlog of the Utilities business area, especially in the higher added-value segments – i.e. High Voltage and Submarine – and further increases in the profitability of the Trade & Installers business area, due to the repositioning of products with higher technological features.
Utilities
Growth was mainly driven by the high demand for cables for power distribution from utilities, to address increasing demand from industrial customers and household, both in Europe and in the USA. In extra high voltage cables and submarine cables the strong order book provides a good visibility of future sales.
Trade & Installers
In a market characterised by strong demand, both in the household and non-household segments, Prysmian continued to refocus on high added-value products (i.e.: LSOH/Afumex fire-resistant cables) and on more profitable geographical markets. The selective strategy of growth pursued by the company led to a further improvement in profitability.
Industrial
In the Industrial Cables business area, the strong growth was achieved thanks to the strong sales of cables for the oil & gas, railway, mining and renewable energy industries. Our new plant in Brazil, which manufacturers umbilicals cables, has already achieved the planned level of operation.
Telecom Cables & Systems
In Q1 2007, sales of the Telecom Cables & Systems business unit, , reached €151 million, with an increase compared to €126 million in the same period of 2006 (organic growth was 14.0%). EBIT grew to €13 million, compared to €9 million in 2006, with an improvement in EBIT margin from 7.1% to 8.5%.
Growth was achieved mainly thanks to the high demand for optical cables, mainly in Europe and Asia-Pacific, and the decision to focus copper cables sales efforts on geographical markets with higher profitability prospects.
The products launched by Prysmian on the market, especially in the FTTH (Fibre to the Home) segment, were well received. Thanks to these products, Prysmian succeeded in maintaining the same price level of 2006, despite competitive pressure.
CONSOLIDATED RESULTS
Adjusted EBITDA for the first quarter 2007 increased to €116 million, compared to €80 million in Q1 2006, with an increase in adjusted EBITDA margin from 7.2% to 9.6%.
EBITDA for Q1 2007 reached €152 million, up compared to €78 million in Q1 2006, partially due to non-recurring net income of €36 million (mainly related to a purchase price adjustment related to the acquisition of the Cables & Systems divisions from Pirelli & C. S.p.A. — completed in July 2005 — defined at the beginning of March 2007, amounting to approximately €40 million).
EBIT for the first quarter 2007 amounted to €135 million, compared to €52 million in the first quarter of 2006. The adjusted EBIT, net of the above-mentioned non-recurring income amounting to €36 million, increased to €99 million in the first quarter 2007, compared to €59 million in Q1 2006. EBIT margin conseguently increased from 5.3% to 8.2%.
Prysmian continued to develop its strategy through:
• focus on higher added-value products and services;
• strengthening in geographical markets with a higher potential for growth and higher profitability;
• further improvement of industrial efficiency.
Net income for Q1 2007 amounted to €52 million, more than double the Q1 2006 net income of €22 million .
Cash flow from operations for Q1 2007 was positive €29 million (compared to negative €22 million in Q1 2006), despite the growth in net working capital, related to the usual seasonality of the first quarter.
The Net Financial Position at 31 March 2007 amounted to €899 million, compared to €928 million at 31 March 2006 and €879 million at 31 December 2006.
A voluntary “limited review” of the results is in progress by PricewaterhouseCoopers S.p.A..
OUTLOOK In a market that is likely to remain favourable, Prysmian expects to be able to confirm the trend in organic sales growth, particularly in the high-added value segments of the Utilities and Industrial business, and in optical cables. For 2007 the Company expects to confirm the EBITDA margin growth trend recorded in recent years.
OTHER RESOLUTIONS OF THE BOARD OF DIRECTORS The Board of Directors of Prysmian S.p.A. also approved the amendment to Article 14 of the Articles of Association, which introduces a mechanism for the appointment of directors who meet requirements of independence, pursuant to current applicable laws. It furthermore approved the calendar of corporate events for the remaining months of the current year.
The Quarterly Report as of 31 March 2007 will be filed at the Company’s registered offices at Viale Sarca 222, Milan, and with Borsa Italiana S.p.A. in compliance with relevant regulations. It will also be available on the corporate website at www.prysmian.com.
Prysmian
Prysmian S.p.A. is one of the world’s leaders in the energy and telecommunication cables industry, with a strong market position in higher-added value market segments. Organised in two business units, Energy Cables & Systems (submarine and terrestrial cables for electricity transmission and distribution) and Telecom Cables & Systems (optical fibres and cables for video, data and voice transmission, and copper telecom cables), the Prysmian Group has a global presence in 34 countries, with 54 plants, 7 Research & Development Centres in Europe, the United States and South America and more than 12,000 employees. Specialising in the development of products and systems designed on the basis of clients’ specific requirements, Prysmian’s main competitive strengths include its focus on research and development, its innovative products and production processes, and the use of advanced proprietary technologies.
This announcement is not an offer for sale of securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Prysmian S.p.A does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Prysmian S.p.A or the selling shareholder and that will contain detailed information about the company and management, as well as financial statements. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan. |
Leave a Comment » | Cable & Wire News, Cable Manufacturers, Multi Media Partners | Permalink
Posted by thecabledirectory
Aggreko News – Aggreko powers construction of copper mine in Chile
May 16, 2007| Another key story featured today is from the generator giant Aggreko. This press release regards them supply of a 5MW power package to the largest copper mining company CODELCO for use in the Gaby Mine, Northern Chile. For the full article please read on: Aggreko powers construction of copper mine in Chile |
|
Aggreko, world leader in the provision of temporary power and temperature control services, and Corporación Chilena del Cobre (CODELCO), the world’s biggest copper producer, have signed a 17-month contract for the supply of a 5MW power package for the construction of Gaby mine in northern Chile.
State-owned CODELCO, which produced 11 per cent of the world’s copper in 2005, selected Aggreko after an intense bidding process, primarily due to the company’s ability to commit to plant installation within two months
The location of Gaby mine makes power security an important concern; the mine is very isolated and reliable power supply is central to the success of the project. After an evaluation of the various contenders, CODELCO awarded the contract to Aggreko because the company clearly understood the specific requirements of the project. Crucially Aggreko were able to agree to a two-month plant installation deadline.
Pablo Varela, Aggreko’s country Manager for Chile, confirmed “Timing was crucial and we managed to start providing energy within 10 days of receiving the letter of intent, enabling CODELCO to maintain operations and camp construction. Aggreko were also preferred as we were able to develop a solution specific to the project’s requirements; working very closely with CODELCO engineers to guarantee a safe and efficient operation. Health, safety and environment issues are among the top concerns of a mining operation and we ensured our compliance with mining regulations,”. The Aggreko temporary power plant, located 2,700mts above sea level, runs around-the-clock to sustain continuous construction. The site is managed throughout by a dedicated team of service engineers.
A worldwide operation, Aggreko, over the years, has served the needs of diverse industries, occasionally supplying vital power to projects in some of the most inhospitable regions on the planet. “Our extensive experience and proven record of reliable service, combined with our ability to provide rapid turnkey solutions, is what motivates companies and governments to work with us. We are very pleased to be able to work with CODELCO on a project of this magnitude, that will undoubtedly have a future impact on the Chilean economy,” Pablo Varela added. |
Leave a Comment » | Electrical News, Generator News, Mining News | Permalink
Posted by thecabledirectory
VDC Trading News – VDC supplies Van Damme Cable and Connectors to the British Library Sound Archive
May 16, 2007Today we feature a very interesting article about the leading on-line supplier of Audio cables and accessories in the UK. Today’s article is about supplying products to the Britsh LIbrary for installation in their sound studios. For more information please read on:
VDC supplies Van Damme Cable and Connectors to the British Library Sound Archive
UK cabling solutions specialist VDC Trading has supplied a large quantity of Van Damme cable to the British Library for installation into its new sound studios. Over the last two years, the British Library Sound Archive’s technical team have been specifying and purchasing equipment for the new facilities, which are based in the Centre for Conservation at the main library site at St. Pancras, London. This project has been a major expansion of the library’s facilities and has resulted in 10 transfer channels and a recording studio, equipped to the highest standard to enable the best possible quality transfer of archive analogue recordings to digital format.
VDC’s technical team custom-made 20 8-way Van Damme looms for the Sound Archive, each with a DB25 connector at one end and XLR connectors at the other. The order was placed via pro audio dealer KMR Audio.
Andrew Pearson, Repair and Maintenance Engineer for the Sound Archive, says: “All the equipment and cabling in our studios has to be very high spec as we are often making a once-and-for-all transfer from a very fragile archive medium. VDC Trading has a good reputation for quality cables and this is why we asked them to supply sets of analogue and digital break-out cables for the converters we are using in five of our ten studios.”
3 Comments | Cable & Wire News, Cable Accessories, Connectors News | Tagged: Audio | Permalink
Posted by thecabledirectory
Nexans News – Nexans will supply 875 km of 220 kV AERO-Z® high voltage, bare aluminum overhead lines in Peru
May 16, 2007| Nexans, one of the four major cable manufacturers in the world, announce another contract. This time it is in South America providing High Voltage aluminium overhead cables in Peru. The contract is worth over 6.2 million euros and should be completed by 2008. For the full article please read on:
Nexans will supply 875 km of 220 kV AERO-Z® high voltage, bare aluminum overhead lines in Peru |
|
Nexans has been awarded a contract worth approximately 6.2 million Euro by Red de Energia del Peru (REP) to supply 875 km of 220 kV AERO-Z® high voltage, bare aluminum, overhead conductors for a project to reinforce Peru’s electrical power infrastructure. REP, a subsidiary of the Columbia-based ISA Group (the largest electrical transmission company in North Latin America) will install the 455 mm² cross-section AERO-Z® conductors along Peru’s pacific coast to connect two substations, Paramonga and Chimbote.
The replacement of old electrical grids and the building of new 220 kV transmission lines with Nexans’ AERO-Z® conductors in northern Peru is being driven by the need to meet the growing demand for energy in the country’s industrial and mining region. REP is also constructing new electrical substations in order to interconnect a new gas-fired power station.
The most reliable and resistant conductor in demanding climate conditions REP has been installing AERO-Z® since 2000 as the most reliable and resistant conductor for its local climate conditions, where overhead line installations are highly challenged by corrosion due to the proximity of the Pacific Ocean.
“Red de Energia del Peru S.A decided to use the Nexans AERO-Z® compact conductors, because of their very special technical characteristics, proven in our coastal power lines since they were first installed in 2000. The complete lack of rainfall in Peru’s coastal region means that the conductors are not washed naturally by rain as in most places, so the maintenance of a clean surface is of paramount importance. The smooth cylindrical outside surface of the AERO-Z® conductor makes it much easier to clean, avoiding build-up of dust and ensuring safe power transmission”, says Carlos Ariel Naranjo, General Director, Red de Energia del Peru. Patrick Barth, Nexans High Voltage business group Managing Director adds: “When confronted with tough local climate conditions, we have managed to solve corrosion problems and to overcome electrical transit losses, thanks to our HV high-end product, AERO-Z®”.
The AERO-Z® conductors will be manufactured in the Nexans Elouges plant in Belgium. The installation should begin in 2007 and the link should be operational by 2008.
Two AERO-Z® contracts signed in Peru in 2006 This is the second contract that Nexans has signed with REP in the past few months. The first contract, worth approximately 2.3 million Euro, concerned a 610 km AERO-Z® connection between San Juan and Chilca substations, south of Lima. Delivery should be completed in May 2007. The installation is due to be carried out from May to June 2007 and the connection should be operational in August 2007.
In line with its business development goals and strategic plan, Nexans is increasingly involved in producing high-end aerial conductors for infrastructure, such as AERO-Z®. AERO-Z® is one of the world’s most advanced conductors for high-voltage overhead lines. AERO-Z® conductors are fully locked, integrating one or more concentric layers of profiled wires in the form of a “Z”. The “Z” profile wires making up the outer belt fit firmly into each other, forming a hermetic casing, preventing internal corrosion. Moreover, dust and dirt are more easily eliminated, reducing line losses. This makes AERO-Z® of particular interest to all power producers and utilities planning to install lines in areas subject to extreme weather conditions.
Your Contact
Céline Révillon Corporate Communication Department Phone + 33 1 56 69 84 12 celine.revillon@nexans.com
Michel Gédéon Investor Relations Phone +33 (0)1 56 69 85 31 Michel.Gedeon@nexans.com
Posted 16.5.7 |
Leave a Comment » | Cable & Wire News, Cable Manufacturers | Permalink
Posted by thecabledirectory
Subsea 7 News – Subsea 7 Announces Contract Awards on Vega and Troll 02 Projects
May 15, 2007| Today in our Subsea News we feature a press release from Subsea 7, who announces two North Sea Contract awarded to them by Norsk Hydro. For more information then please read on:
Subsea 7 Announces Contract Awards on Vega and Troll 02 Projects |
|
Subsea 7 Inc announced today that it has been awarded two contracts by Norsk Hydro for work in the North Sea with a combined value in excess of US $340 million. The first is an Engineering, Procurement, Installation and Commissioning (EPIC) contract valued at US $280 million for work on the Vega and Vega South fields. The second is an EPIC contract worth approximately US $61 million for the Troll O2 field.
The Vega contract comprises the engineering, fabrication and installation of one 14” and two 12” rigid flowlines, totalling 51 kms, from Vega Sør to Vega to the Gjøa platform. The scope also includes the engineering, fabrication and installation of 3 umbilicals and 3 MEG lines, totalling 51km each, and the protection of all flowlines and umbilicals on the seabed. The Vega field is located 45 km north of the Troll field and 60 km east of Gullfaks, in about 380 m depth.
The Troll O2 contract comprises two flexible flowlines and one umbilical, totalling approx. 13 km. The Troll West field is located some 70 kilometers northwest of Bergen city. The water depth is about 320 m.
The engineering on both projects will start immediately at Subsea 7’s office in Stavanger, Norway. Flowlines will be fabricated at Subsea 7’s new spoolbase, which is being built at Vigra on the west coast of Norway. The offshore installation work for both projects will be conducted during spring and summer 2009.
For further information, please contact: Barry Mahon, Chief Financial Officer, Subsea 7 Phone: +44 1224 344 513 |
Leave a Comment » | Project News, Subsea & Underwater | Permalink
Posted by thecabledirectory
Alcatel-Lucent News – Alcatel-Lucent announces agreement to acquire NetDevices
May 15, 2007| Today in manufacturing news we feature a press release about further expansion in the US from Alcatel-Lucent. This time they are acquiring Californian networking and IT company NetDevices. For the full story please read on:
Alcatel-Lucent announces agreement to acquire NetDevices |
|
Alcatel-Lucent today announced a definitive agreement to acquire privately held NetDevices, a developer of services gateway products for enterprise branch networks, based in Sunnyvale, California. NetDevices delivers a market recognized, innovative and flexible enterprise networking platform known as a Unified Service Gateway which is designed to reduce the cost and complexity of managing branch office networks. NetDevices was founded in 2003 and has 45 employees located in Sunnyvale and Bangalore, India.
“Today’s enterprises are looking for ways to transform their businesses through the deployment of networks and services that enable their employees to work more efficiently, and their customers to receive a higher level of satisfaction,” said Hubert de Pesquidoux, President of Alcatel-Lucent’s enterprise activities. “Enterprises are quickly evolving to a converged communications infrastructure of data, voice, and security services running with high reliability and serviceability. Traditional architectures lack the flexibility and programmability to deploy these new converged infrastructures in a cost-effective way. A fresh approach based on the innovative enterprise platform from NetDevices combined with our core strengths of voice and switching helps to deliver best in class enterprise networks.”
“NetDevices’ services gateways bring all required services for a branch office in a unified package, dramatically reducing the network complexity for enterprise customers and small medium business. I am very excited that by joining forces with Alcatel-Lucent, we can enhance the benefits of NetDevices’ solutions to our customers and create new opportunities for our partners,” said Seenu Banda, founder and CEO of NetDevices. “Alcatel-Lucent provides an ideal partnership with its global sales, service, and the development capabilities. With this agreement, NetDevices joins Alcatel-Lucent to complement its end to end solutions, and to pursue our goal of delivering innovative products to a large set of customers worldwide.”
Upon close of the transaction, the NetDevices team and products will be integrated into Alcatel-Lucent’s Enterprise Business Group, reporting into Tom Burns, president of Alcatel-Lucent’s Enterprise Solutions activities.
The acquisition is subject to various standard closing conditions, including applicable regulatory approvals, and is expected to close in the second quarter of Alcatel-Lucent’s fiscal year 2007. The terms of the deal were not disclosed. |
Leave a Comment » | Cable & Wire News, internet & Communications, Telecom | Permalink
Posted by thecabledirectory
ScottishPower and Hammerfest form tidal company
May 15, 2007| Today we feature a lead energy story on Tidal wave power. ScottishPower and Hammerfest are about to invest serious money in setting up this new renewable energy company. For full article please read on:
ScottishPower and Hammerfest form tidal company |
|
Hammerfest Strøm’s technology is best described as an underwater wind turbine, but with much shorter blades, and turning more slowly. The units are mounted on the sea bed and aligned to the tidal flow. Each device will generate around 1MW of output. ScottishPower and Norwegian technology company Hammerfest Strøm have set up a new tidal power company Hammerfest UK utilising devices of Hammerfest Strøm. The new company will help Scotland to deploy its considerable tidal power resources for the benefit of the environment, and for the Scottish economy and jobs, the companies said.
Hammerfest Strøm’s technology is best described as an underwater wind turbine, but with much shorter blades, and turning more slowly. The units are mounted on the sea bed and aligned to the tidal flow. Each device will generate around 1MW of output, and in future arrays of multiple devices are anticipated which could generate 50MW to 100MW each.
Under the deal, both parties will work together to optimise Hammerfest Strøm’s technology including demonstration of a full-scale prototype in Scottish waters, in preparation for deployment of the technology on a wide scale in Scotland and around the globe. Manufacture of the prototype will commence in 2008, with installation during 2009.
The Managing Director of ScottishPower’s renewables business, Keith Anderson, said “This is another milestone in our development of renewable marine energy, and follows the announcement of our Orkney wave project which will be the largest in the world. Collaboration between our two countries, Scotland and Norway, will help us to deploy our massive tidal power resources and reduce our emissions of CO2. Most importantly, by investing now and developing the world-leading technology here in Scotland, this project will help us to secure significant jobs and economic benefits in future.”
Speaking for Hammerfest Strøm, Jan Ellevset said “We are very excited at the prospect of working with ScottishPower. The Scots are leading the world with deployment of marine renewables, and for us Scotland is the ideal location to prove the technology and move on to large-scale manufacturing.” Hammerfest’s two largest owners are Statoil, the Norwegian oil and gas company, and Hammerfest Energi, a power utility located in northern Norway. Their tidal technology has been extensively tested at 300kW scale over a three year period, in tidal waters at Hammerfest.
The tidal power resource is estimated at some 150 billion kilowatt-hours per annum globally (representing capital investment of around £40bn). The UK share has been estimated at 13 billion kilowatt-hours (Phase II UK Tidal Stream Energy resource Assessment, Black & Veatch, 2005), and over 80 percent of this is located in Scottish waters.
Hammerfest Strøm’s technology is a form of “tidal stream” power which can be distinguished from “tidal barrage” power as there is no need to impound the water. This is expected to bring significant environmental advantages by avoiding impacts on sensitive inter-tidal zones around the coast.
The Scottish Executive have taken a leading approach to stimulating the marine renewables market through support grants and a longer-term revenue support scheme. The Executive recently stated that “Scotland has the potential to generate a quarter of Europe’s marine energy and kick-starting the sector is vital if we are to create a significant industry based in Scotland and meet our long-term renewables targets.” It is considered that thousands of jobs could be created in this sector as the technology is exported around the world, with an estimated market size of some £40bn. |
2 Comments | Energy & Renewable, Subsea & Underwater | Permalink
Posted by thecabledirectory
Hellenic Petroleum News – New gas discovery in Libya by Hellenic Petroleum
May 14, 2007| Today we have featured another project news story from North Africa. Hellenic Petroleum have discovered more Gas in the Sirte Basin in Libya. For the full article please read on
New gas discovery in Libya by Hellenic Petroleum |
|
Hellenic Petroleum S. A. reports a gas discovery in well A1-NC206. The well, drilled by Woodside Energy NA Ltd., is located in the Sirte Basin in Libya and was spudded on October 10, 2006. The total depth of 3,475 metres was reached on November 18, 2006. A completion string was run and well testing operations were completed with a rig-less testing unit in March 2007.
An initial production test of the Upper Sabil Formation confirmed the presence of a gas column and flowed 12.1 MMscf per day through a 48/64 inch choke, with a gas to condensate ratio of 30-35 bbl/ MMscf. The absolute open flow potential is calculated to be 16.7 MMscf per day. The well was suspended as a gas and condensate discovery. Woodside Energy (N.A.) drilled the well as an operator under the “Exploration and Production Sharing Agreement-3” (EPSA3) with the National Oil Corporation of Libya. Interests in EPSA3 and the associated joint venture are:
Woodside Energy (N.A.) Ltd. : 45% (Operator)
Repsol Exploration Murzuq: 35%
Hellenic Petroleum S.A. : 20%
Further studies are under way to estimate recoverable reserves and evaluate commerciality. |
Leave a Comment » | Oil & Gas, Project News | Permalink
Posted by thecabledirectory
