Tom Even Mortensen

Very enjoyable conversation with Per Einar Ellefsen in Amundsen Investment Management’s podcast IPO Stories covering topics from LNG and LPG markets which FLEX LNG and Avance Gas operates in, financial markets including pro’s and con’s being public listed as well as where to list. We also covered strategy and the energy transition plus probably something I forgot. #lng #lpg #shipping #finance #gas #naturalgas #ngl #invest #investing #ipo #shares #energy #energytransition

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Faster than expected recovery in Norwegian exports leads to lower prices Every week, we inform you about the latest news on the energy markets 👉 Hereunder the summary of this June 13. Gas The market remains in a wait-and-see approach ✔ Norwegian exports have recovered from last week's incident at the Nyhamna gas plant, which has eased the pressure on prices. The CAL25 TTF contract is currently fluctuating around EUR 37/MWh. ✔ The demand for LNG in Asia also impacts the market and Chinese imports fell in May, while heat waves in India means that their imports are rising. ✔ One point of note, the US Energy Information Agency expects natural gas production in the US in 2024 to come down as a result of reduced drilling activity due to low prices. This could have an impact on trends in the global gas market. Electricity The market continues to be influenced by the price of gas ✔ Spot prices have fallen thanks to the increase in wind generation and strong hydroelectric production in France. The increase in French nuclear availability also plays a role. ✔ The gas market continues to have a strong influence on electricity prices. The CAL25 BE contract is currently fluctuating around EUR 90/MWh. ✔ The price of CO2 emissions reached its lowest level in two weeks, at around €70/t, in a market that has remained directionless in the absence of any significant events. How will the markets behave in the coming weeks? 👉 Subscribe to the Energy Market News https://bit.ly/33hGt68 to receive your complete analysis by e-mail every week. 👈 #electricity #gas #energymarket #CO2

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Join Vibeke and Margrethe on this webinar where they will present Carbon Circle AS' approach to CCS; how we are designing cost-effective carbon capture facilities and execute full-chain carbon capture and storage projects. Thanks to Aspen Technology and Carbon Economist for this opportunity to share our passion and contribution to the green shift! Gerardo Muñoz Patty DeMichelisVikas Rastogi 👇

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Energy market remains wary Every week, we inform you about the latest news on the energy markets 👉 Hereunder the summary of this April 25. Gas Prices are still very much in a wait-and-see mode ✔ Tuesday saw a gas leak at one of the Norwegian LNG facilities. The leak was repaired but the production unit will remain offline until Friday. ✔ The supply-demand balance was tighter, not the least due to the fall in Norwegian supply, low renewable production and below-normal temperatures. ✔ Such news, along with geopolitical tensions, means the market is unable to calm down completely. The TTF CAL25 is currently trading at around EUR 33/MWh. Electricity Price driven by gas price evolution ✔ Both electricity and CO2 emission prices are set by the evolution of the gas price. The BE CAL25 is currently at around EUR 86/MWh. ✔ Spot prices dropped on Tuesday thanks to prospects of milder temperatures and increased wind production, as well as additional pressure from corrective fuel prices. ✔ The average European spot price was EUR 79.15/MWh, more than EUR 13 lower than the day before. How will the markets behave in the coming weeks? 👉 Subscribe to the Energy Market News https://bit.ly/33hGt68 to receive your complete analysis by e-mail every week. 👈 #electricity #gas #energymarket #CO2

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I have learned A LOT on this trip to Brussels and EU 🇪🇺 There is still a lot to digest and analyse, but I can already share some of the most important aspects: From our work with clients and talk in the community we know that some of the challenges Norwegian CCS projects face are the 1) ‘request for 75 years of monitoring’ and 2) the Financial Security, and I wanted to understand if there was room in the updated CCS Directive and Guidance Documents to find solutions and remove showstoppers. It turns out there is! 💪🏼 ➡️ The directive actually provides the flexibility needed (in my updated understanding), but it is up to the Member States to interpret the requirements and find suitable solutions. There is MUCH more flexibility than I expected, and that is what you learn in the coffee breaks. ➡️ As Maria Valkova and Dr. Daniel Kitscha from the commission pointed out several times, the CCS directive is not necessarily set in stone and will be updated when more practical experience is available. So share your experience and ideas for how to improve things that you don’t think work as they should. Within reason, of course. ➡️ It was VERY interesting to hear from Jan Erik Berre how commercial banks like DNB handle risk and what they require to give loans to CCS projects. Hint: SRMS is of course required, but other than that it will be challenging for many new companies to be accepted for loans. ➡️ Insurance can potentially be available to cover significant parts of CCS projects, thereby having the potential for reducing financial risk for many projects. In addition to this several ‘potentially high risk projects’ are now under control. All in all, I’m very hopeful that we’ll find good solutions and move this faster ahead!

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Fully electrified #rigs and other facilities operating across the Norwegian Continental Shelf are emitting 1.2 kg of #CO2 per boe produced, according to Rystad Energy. This is 86% lower than the 8.4 kg of CO2/boe emitted by the same assets prior to undergoing #electrification. Norway can deploy its resources of hydroelectric power in particular to help cut #emissions from its #upstream #oilandgas production. The country now plans to cut emissions from operations on the shelf by 70% by 2040. Read more at https://lnkd.in/gY_uhPTx.

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What are the biggest sources of uncertainty for longer-term production increase and how are they influencing the SAGD growth potential for operators? Tom Liles, VP Upstream Research at Rystad Energy will address these questions at the upcoming CHOA CONNECTS: Forging our Future - Profitable Sustainable Heavy Oil on November 7th, 2024.    Thomas Liles is a VP of Upstream Research at Rystad Energy, an independent research and business intelligence company headquartered in Oslo, Norway. Currently based in New York, Thomas joined Rystad in late 2015 as one of the first analysts in the company’s Moscow office and has broad exposure to global upstream developments. Additionally, he maintains a regional specialization in Canadian heavy oil and manages Rystad’s upstream data quality for Canadian supply and economics modelling. He regularly publishes and speaks on the upstream space and associated developments around egress, M&A activity, and sustainability. Thomas holds an M.A. from Harvard University's Graduate School of Arts and Sciences and a B.A. from the University of North Carolina at Greensboro.    View the CONNECTS 2024 conference program here: https://lnkd.in/gtPSa6_p    The early bird registration runs through October 18th.   Member rates and group discounts are available.     #CHOACONNECTS #ForgingOurFuture #Profitable #Sustainable  #Shaping the Future of Leadership  #Unlocking Value: Advanced Well Designs and Pad Economics in Heavy Oil  #What is Driving Investment in the Oil Sands?  #Clean Energy Convergence: Hydrogen and the future of Alberta's upstream industry 

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Norway's Equinor lost 4% of its profit from lower gas prices in the second quarter. The second quarter for Norway's state-owned energy company was not very successful, but analysts expected a greater failure. Equinor's second-quarter profit fell 4% year over year due to falling gas prices, the energy company reported Wednesday, although results still beat analysts' expectations. The Norwegian oil and gas producer's adjusted profit before tax for April-June fell to $7.48 billion from $7.80 billion a year earlier. However, this figure exceeded the $6.96 billion predicted in a survey of analysts. Compared to the same quarter last year, the selling price of European network gas decreased due to moderate temperatures and lower market prices, Equinor said. In the second quarter, the cost of a gas contract on TTF averaged €31.76 per 1 MWh, a year earlier this figure was at €34.86. Equinor produced 2.05 million barrels of oil equivalent per day in the second quarter, slightly above analysts' expectations, which had forecast 2.03 million b/d, compared with 1.99 million b/d a year earlier. Equinor also lowered its growth forecast for renewable energy production for 2024 to 70% amid a delay in the launch of the 1.2 GW Dogger Bank offshore wind farm in the UK. By the way, Equinor will overtake Russian Gazprom as the largest supplier of natural gas in Europe since 2022. However, Equinor's share price is down 10.4% this year, Reuters writes. https://lnkd.in/eiUW77e8

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Danish #biomethane is still at 37%. However, the sector is waiting for clarity on the upcoming #subsidy tender, which has resulted in no new plants being decided or established. In the same period, total gas demand have increased. Resulting in a slight decline in the biomethane share. #greengas #renewableenergy #sustainability Energinet - Evida - Danish Energy Agency

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LanzaTech announces plans to develop a commercial-scale #carboncapture and utilization facility at the Herøya Industripark AS in Porsgrunn, #Norway to produce 24 kilotons of fuel-grade #ethanol annually. The feedstock will come from the furnace gas of Eramet's Porsgrunn #manganese alloys smelter. Brookfield Asset Management has the right of first refusal to finance and own the project, with a Final Investment Decision (FID) expected within the next six months. #sustainability #energytransition #emissions #carbonemissions #CO2 #carbon #decarbonization #decarbonisation #ccs #ccus #carbonremoval

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In case you would have missed Anne Grevener Steen, Marcus Getta and Hermann Orth talking on data driven asset management: Here you find the summary and the link to the recording. #MakingFuture

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PATENT - Ref. “NORTH STREAM PIPELINE SABOTAGE” - WITH 2818 KM OF UNDERWATER POWER CABLES AND 4864 KM OF OIL & GAS PIPELINES – THE NORDIC BASIN NEEDS PROTECTION - PATENT NO347950 HANDLES; "UNDERWATER SOUND SURVEILLANCE SYSTEMS (SOSUS) FOR THE PROTECTION OF CRITICAL OFFSHORE INFRASTRUCTURE” (with AI capabilities) Traditional military Underwater Sound Surveillance Systems (sosus) developed during the Cold War, have probably less technical capabilities than what is desirable. Also, the locations of such systems did not consider the development and deployment of critical infrastructure, like e. g. AC/DC power lines between countries, AC/DC power lines from offshore wind farms and pipeline grids. This invention relates to systems and applications for the protection of offshore power cables and hydrocarbon carrying pipelines against submarine or terror activities.

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Morning Report Yesterday’s headlines: Oil continues to fall but the fluctuations were much smaller than the fierce downturn in Monday’s session Marginal upwards correction on the gas market also affecting carbon and German power yesterday Nordic power futures rise amid somewhat drier, calmer forecasts and bullish signals from related markets Today’s expectations: Gas opens bearishly as the market might feel that the sharp increase the last weeks has been exaggerated Nordic forecasts show dry, calm conditions early next week followed by a return to low-pressure weather Bearish day on the Nordic power market amid windier outlook and falling prices on related markets. #Passionforenergy

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Equinor ASA has acquired 9.8% of Ørsted A/S, making it the second largest shareholder after the Danish State. This counter-cyclical investment aligns with Equinor's renewable energy growth strategy. CEO Anders Opedal emphasized the complementary nature of Ørsted’s portfolio of operating offshore wind assets with Equinor’s projects under development. Despite challenges in the offshore wind sector, Equinor remains optimistic about its long-term potential in the energy transition. Ørsted has 10.4 GW of net renewable generation capacity and aims to reach 35-38 GW by 2030. Equinor’s current stake, valued at around USD 2.5 billion, was built through market purchases and a block trade. Subject to regulatory approvals, Equinor plans to increase its holding to 10%, but has no intentions of expanding beyond that. The transaction fits within Equinor's financial framework Check more here- https://lnkd.in/gNBmZxxa #progresstoexcellence #saoperations #industryupdates #equinor #Ørsted #share #holding #owf #energyindustry #energy

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𝐓𝐚𝐜𝐤𝐥𝐞 𝐂𝐫𝐨𝐬𝐬-𝐂𝐡𝐚𝐢𝐧 𝐑𝐢𝐬𝐤𝐬 at the 𝐂𝐎₂𝐧𝐧𝐞𝐜𝐭𝐢𝐧𝐠 𝐄𝐮𝐫𝐨𝐩𝐞 𝐂𝐨𝐧𝐟𝐞𝐫𝐞𝐧𝐜𝐞 2025 Are you ready to address one of the most pressing challenges in Carbon Capture, Utilization, and Storage (CCUS) markets? 📅 Date: January 16, 2025 📍 Location: Eigtveds Pakhus, Copenhagen Join industry leaders, policymakers, and innovators at the CO₂nnecting Europe Conference, where we’ll dive into managing cross-chain risks in CCUS and building a resilient, collaborative CO₂ market. Through focused discussions and expert panels, the conference will explore: Cross-border CCS infrastructure solutions Strategies to improve market transparency and investor confidence Insights into harmonizing regulatory frameworks and standardization Real-world lessons on creating a robust and scalable CO₂ market 💡 Why Attend? Be part of shaping a thriving CCUS ecosystem. Network with global experts driving innovation and collaboration. Gain practical insights into addressing cross-chain complexities. 📢 This is your chance to help future-proof Europe’s green transition and tackle the challenges of cross-chain CCUS operations. 👉 Read more and register now to secure your spot: https://lnkd.in/drZsQPJH Together, we’ll create the roadmap to success! The conference is organised in collaboration between CO2 Hub Europe and Invest in Denmark Confirmed speakers includes: - Julio Friedmann, Carbon Direct - Katrine Thomsen, Klima-, Energi- og Forsyningsministeriet - Chris Davies, CCS Europe - Dominik Huebler, NERA - Graeme Wilson, Worley - Georg Locher, SCHWENK Deutschland - Kari Forthun, DNV - Lisbeth Rauff Sørensen, Crossbridge Energy - Martin Liedemit, BASF - Morten Bo Rasmussen, PwC - Rune Thorsen, Equinor - Torben Brabo - Erik Kolstø, CFA, OGE …and many more global and European innovators shaping the CCS landscape. E.ON Harbour Energy CarbonCuts Storegga Swedish Energy Agency VDZ #CCS #CCUS #CrossChainRisks #CarbonMarkets #Innovation #GreenTransition #CO2nnectingEurope

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🎱 etasca’s 8 🎱 – Weekly Roundup 1️⃣ Norway's Equinor has scrapped its plans to export blue hydrogen to Germany, citing high costs and insufficient demand. The project, between Equinor and RWE, aimed to build a hydrogen supply chain from Norway to Germany's hydrogen-ready power plants via the world's first offshore hydrogen pipeline. 2️⃣ Woodside Energy has completed its $2.35bn acquisition of OCI Clean Ammonia from OCI. The project, located in Texas, has a design capacity of 1 million tonnes per annum and is set to begin production by 2025. The next phase, targeted for 2026, will incorporate CCS technology. Linde and other Gulf Coast suppliers will provide feedstock, while ExxonMobil will deliver CCS services. 3️⃣ VTTI BV, backed by ADNOC Group and Vitol, is expanding its LNG investments in Asia as demand for the fuel grows across India, Bangladesh, Pakistan, and the Philippines. VTTI recently acquired a 50% stake in the UK’s Dragon LNG terminal, secured a majority stake in Italy’s Adriatic LNG, and is collaborating with Höegh Evi to develop a terminal in the Netherlands. 4️⃣ Contemporary Amperex Technology Co., Limited (CATL) has recently unveiled a new EV battery for electric busses. The new battery, 175 Wh/kg has 22% higher energy density than previous generations. It boasts a lifespan of up to 1.5 million kilometres, a 1-million-kilometrewarranty, and an IP69 rating, making it waterproof and dustproof, with mass production set to begin soon. 5️⃣ U.S. renewable diesel production capacity dropped by 299 MMgal/yr in July 2024 to 4.60 Bgal/yr, marking the largest decline on record, per EIA data. Despite heavy investments driven by government mandates, oversupply is outpacing demand. Demand for renewable diesel feedstocks like vegetable oils fell by almost 6%, while biodiesel feedstock demand rose by the same amount. 6️⃣ ADNOC Group has signed an investment agreement with German chemicals giant Covestro with ADNOC looking to become a top five global chemicals player. 7️⃣ The UK government has pledged up to £22bn in funding over 25 years to support its first CCS projects. The funding will cover two undersea carbon storage sites and pipelines with a combined capacity to store over 8.5 million tonnes of CO2 annually. The supported projects include bp and Equinor’s Net Zero Teesside gas-fired power station, the Protos energy-from-waste plant by ENCYCLIS and Biffa, and Essar's hydrogen production plant at the Stanlow refinery. 8️⃣ Future Biogas, one of the largest anaerobic digestion plant developers and operators in the UK, has announced that its majority owner, 3i Infrastructure plc, has signed an agreement to syndicate approximately 23% of its stake in Future Biogas to RWE Energy Transition Investments, a vehicle of RWE Supply & Trading.

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Very interesting report: “ our estimated biogenic CO2 supply will not be plentiful enough to enable full decarbonization of the maritime sector. Even if the entire supply is economically accessible, it could only generate around 5.4 EJ equivalent of methanol per year. As the shipping industry currently consumes about 12.6 EJ of energy per year, the entire global supply of biogenic CO2 is only enough to decarbonize 43% of the global fleet. Therefore, our analysis confirms that activating other fuel pathways in parallel will be essential for shipping’s full decarbonization.”

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Norwegian duo reveals plans for hydrogen and bio-methanol production Norwegian companies Norwegian Hydrogen and MI member Glocal Green have entered into a concrete cooperation agreement for the development and establishment of hydrogen production in connection with Glocal Green’s planned bio-methanol plant in Øyer in Gudbrandsdalen. The deal is based on the dialogue the two companies have had since they entered into a letter of intent two years ago, Norwegian Hydrogen said, adding that the hydrogen production will be organized into a separate jointly owned company. Dag Nikolai Ryste, CEO of Glocal Green, stated: “A two-year study and dialogue between us have today resulted in a joint commitment to hydrogen production in connection with Glocal Green’s methanol production units. It has crystallized into a clear win-win model between the parties, and in addition, this efficiency will benefit all other parties along this holistic value chain, and not least the market.” According to Norwegian Hydrogen, bio-methanol will be produced from low-grade biological residual materials and by-products from forestry, agriculture, and the marine sector, and by adding hydrogen in the production process, “all the green carbon is utilized, resulting in a volumetric doubling of methanol production.” This methanol, with added hydrogen, is termed bio-e-methanol. https://bit.ly/3KCp5h9 #methanol #efuel #energy #energytransition #futurefuel #cleanfuel #alternativefuel #marine #maritime

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