Member Info for LSE03

Https://www.lbc.co.uk/opinion/views/uk-energy-crisis-threatens-political-fortunes/

Partial Extract

"the UK must enhance its energy storage capabilities, which lag significantly behind other European nations. In particular, while Germany and the Netherlands boast the capacity to store gas to fulfil several months of demand, the UK can only store enough for a few days. It is also worth noting that an impressive 71% of the British population favours increased investments to expand gas storage capabilities within the UK."

"Energy experts warn of an impending gas and oil crisis linked to the situation in Israel just as winter looms. The UK cannot afford another challenging winter, and political parties must heed this issue to secure their positions. The data is precise: 24% of Tory voters would switch their vote if energy security isn't addressed, and 32% would consider it. For Labour voters, 40% would contemplate a change, with 15% doing so without an adequate energy security response.

When it comes to energy affordability, the stakes are high. For Tories, 28% would change their vote, and 33% would consider it without affordable energy.

Labour support would also erode significantly, with 15% changing their vote and 41% considering it if their party doesn't offer cost-reducing energy solutions.

Whoever wants to see the insides of No.10 Downing Street next year must be prepared to reinvigorate UK supply. The public has clarified where their priorities are – politicians must now respond."

H&W can support with this through storage at Islandmagee.

Https://afloat.ie/marine-environment/power-from-the-sea/item/61014-ireland-s-transition-to-renewable-energy-will-cost-at-least-129-billion-euro-davy-group-report

Https://www.rte.ie/news/business/2023/1026/1412969-davy-puts-climate-bill-at-over-150bn-by-2030/

Harland and Wolff can help with the transition 👍

Https://www.holyrood.com/news/view,hydrogen-export-plans-receive-economic-boost-from-scottish-government

Partial Extract

Scotland's Net Zero Technology Centre (NZTC) has received a £200,000 fund from the Scottish Government to research the value of exporting hydrogen to Germany.

Researchers will explore several export-import scenarios, examining their technology and regulation requirements as well as their end-use by various sectors.

"Act will help unlock £100 billion private investment in energy infrastructure and scale up jobs and growth

Measures set to accelerate development of offshore wind and help deliver our net zero commitments"

Should be positive for Harland and Wolff

Https://www.gov.uk/government/news/new-laws-passed-to-bolster-energy-security-and-deliver-net-zero

Partial Extract

Establishing a new independent body – the Future System Operator – will ensure consumers can access a secure and decarbonised energy supply, key to enhancing the country’s energy security. The FSO will be responsible for systems in the gas and electricity network developing efficiently and keeping consumer bills low.

Emma Pinchbeck, Chief Executive of trade body Energy UK, said:

As the world shifts its focus towards net zero, the energy sector needs long-term certainty to remain internationally competitive and attract private investment. This critical piece of legislation is a welcome step in delivering that confidence by establishing new business models, improved customer protections, and frameworks for investment across the energy sector.

The broad-ranging measures in this Act are part of a collaborative effort between government, industry, business and consumer groups to deliver a modern energy system fit for the changing needs of the 21st century energy market. More work remains to establish frameworks that these powers enable, but this Act will be the foundation upon which the new energy system will be built."

Should be positive for Islandmagee as it seeks to support UK with energy security and delivering net zero longer term with transition from gas to hydrogen storage.

Well done H&W 👏

See Venture tug on vessel finder for location

Does seem like someone's building a position.

Https://www.newsletter.co.uk/business/kennedy-announces-ps38million-investment-by-us-company-frontline-creating-31-high-quality-jobs-4384668

Florida-based insurance technology company Frontline to establish an engineering development team which will generate an additional £1.9m in annual salaries for the local economy

Someone's building a position it seems

Https://www.proactiveinvestors.com/companies/news/1030809/uae-to-buy-stake-in-major-uk-offshore-wind-farm-report-1030809.html

Https://www.regionalgateway.net/belfast-to-benefit-from-vincis-100-million-investment-plan/

Https://www.ft.com/content/aff4d90e-91a8-43cb-987b-e237a87b08e5

H&W in a good place in Scotland with Stornoway Port development and Methil.

Https://www.heavyliftpfi.com/sectors/milford-haven-applies-for-flowmis-funding/29851.article

I thought the deadline for applications ended in August.

Thanks Lottie, good advice taken 👍

Well that is significant Consuela for UK energy security.

You need to advise all governments / financial institutions / climate change bodies that they should stop investing billions in hydrogen technology / infrastructure, wind farms and interconnectors because our energy will come from laser beams by 2043.

Https://renewablesnow.com/news/hydrogen-storage-test-commences-in-brandenburg-salt-cavern-837420/

Partial extract

The trial kicks off today with the eight-day process of filling the cavern in Ruedersdorf with six tonnes of hydrogen, EWE said on Friday.

After the cavern is filled, the trial will take place for a year, focusing on testing and research of the dynamics between hydrogen storage and retrieval. In addition to system operation, the objective is to assess the hydrogen quality and prepare it for utilisation.

EWE is also committed to optimising the technical procedures for seamlessly integrating hydrogen into the German energy network.

My understanding is that Islandmagee would store gas in salt caverns just like Storengy store gas at Stublach in salt caverns, with the gas in the caverns injected from the transmission system. LNG is gas cooled down to liquid form, delivered by LNG tanker to an LNG facility which when required converts the LNG to gas and sends the gas onto the transmission system. Islandmagee / Belfast Port are not building an LNG facility.

Separately, the Atkins report shows how the gas salt caverns can be updated to store hydrogen.

The article highlighted that Saudi Investors were investing in a hydrogen infrastructure. Perfectly reasonable to assume that a storage asset that could be converted to a hydrogen storage facility might be of interest.

Https://www.zawya.com/en/press-release/companies-news/acwa-power-dutch-entities-to-jointly-explore-green-hydrogen-export-corridor-es3wjmaq

Parties will collaboratively explore the establishment of a green hydrogen export corridor between ACWA Power’s hydrogen production sites and the port of Amsterdam

Riyadh, Saudi Arabia: ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed a Memorandum of Understanding (MoU) with Zenith Energy Terminals, GasLog and Port of Amsterdam to explore the viability for a green hydrogen export corridor between ACWA Power’s global hydrogen production sites and the port of Amsterdam.

The companies exchanged the MoU during the Saudi-EU Investment Forum, which took place in Riyadh on 23 October. The forum was co-hosted by the Ministry of Investment of Saudi Arabia (MISA) and the European Union (EU). This MoU builds upon a previous agreement signed between Saudi Arabia and the Netherlands, aiming to enhance cooperation in various sectors such as clean hydrogen, marine transport technologies, standards, certification, and the establishment of efficient international supply chains connecting both countries.

ACWA Power aims to become a large global producer of green hydrogen and is currently developing numerous projects in several locations, including the US$ 8.5 billion NEOM Green Hydrogen Project in Saudi Arabia, which is the world’s largest utility-scale commercial facility of its kind, powered entirely by renewable energy. ACWA Power is developing its second green hydrogen project in Uzbekistan, and is pursuing further projects and feasibility studies in different countries in the Middle East, Africa, and various other locations. Part of the green hydrogen produced will be allocated for export, with a specific focus on the European market.

Saudi money now investing in Europe Hydrogen assets - Islandmagee as a hydrogen storage facility may increasingly be of interest to investors.

Https://www.marinelink.com/news/offshore-wind-newly-formed-consortium-508949

The endeavor seeks to form a fleet of offshore wind service ships, starting with the CSOVs, to meet the global need for offshore wind energy.

The vessels are designed by Vard Design in Ålesund Norway. The first hull will be built in one of VARD’s shipyards in Romania, while the final outfitting, commissioning, and delivery will be carried out by one of VARD’s shipyards in Norway. The second hull will be built in Vietnam.