Earlier this year, TotalEnergies signed a deal with Austrian oil and gas firm OMV to acquire the latter’s 50% stake in SapuraOMV Upstream for $903m.

Both the deals are contingent on preceding conditions such as regulatory approvals. The closing of the OMV deal is expected by the end of the first half of 2024 while the latest deal is likely to be finalised in the second half of this year.

TotalEnergies chairman and CEO Patrick Pouyanné said: “Following the transaction with OMV announced two months ago and this new transaction with Sapura Upstream Assets, TotalEnergies will have full ownership of SapuraOMV and become a significant gas operator in Malaysia.

“The SapuraOMV assets are fully in line with our strategy to grow our gas production to meet demand growth, focusing our portfolio on low-cost and low-emission assets. We look forward to strengthening our global partnership with Petronas in Malaysia, a country where we see further development opportunities for our Company.”

SapuraOMV Upstream’s primary assets include a 40% operated interest in block SK408 and a 30% operated interest in block SK310, both situated offshore Sarawak in Malaysia.

In 2023, SapuraOMV Upstream’s operated production reached approximately 500,000 cubic feet per day (500Mcf/d) of natural gas, supplying the Bintulu LNG plant operated by Petronas, along with 7,000 barrels per day (7kb/d) of condensates.

The development of the Jerun gas field in block SK408 remains on schedule for a launch in the latter half of 2024. Additionally, SapuraOMV Upstream holds exploration licenses in Malaysia, Australia, New Zealand, and Mexico, with a discovery made last year on block 30.

Sapura Energy said that it has been actively seeking to divest its stake in SapuraOMV Upstream as part of its restructuring efforts to manage its unsustainable debt and outstanding payments.

The net proceeds from the divestment will primarily be used to settle the amounts owed to Sapura Energy’s scheme creditors, which include its lenders from the multi-currency financing arrangements.

Sapura Energy Group CEO Datuk Mohd Anuar Taib said: “We are pleased with the outcome of this divestment, which we believe is fair and equitable.

“With full ownership of SapuraOMV, we are confident that TotalEnergies will provide the right focus to further develop the growth potential of its assets. This portfolio rationalisation marks our strategic shift away from the Exploration & Production business, as we enhance our core capabilities to deliver innovative solutions to the dynamic energy industry.”

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Under the terms of the deal, shareholders of both parties will receive common shares of a newly formed company equal to Reunion Gold’s shareholders being issued 0.285 G Mining Ventures common shares for each Reunion Gold common share.

Besides, shareholders of Reunion Gold will get common shares in a newly formed gold explorer that will own all of Reunion Gold’s assets other than the Oko West gold project in Guyana.

G Mining Ventures will finance the newly formed entity with $15m ($11m).

The shareholders of Reunion Gold will receive an estimated consideration of $0.65 ($0.47) per Reunion Gold common share.

Following the closing of the merger, the existing G Mining Ventures and Reunion Gold shareholders will hold around 57% and 43% of the combined company. It is based on a fully diluted in-the-money before the concurrent $50m equity financing.

The shareholders of the merged entity and Reunion Gold will own 19.9% and 80.1%, respectively, of the outstanding common shares of the newly formed gold explorer.

Reunion Gold CEO, president and director Rick Howes said: “We believe that this Transaction not only delivers our shareholders an attractive upfront premium, but also the ability to participate with significant ongoing ownership in the combined company, having the opportunity to participate in an expected future re-rating as Oko West is advanced towards production.”

The transaction will create an Americas-focused leading intermediate gold producer, said the parties.

Through the acquisition, G Mining Ventures will acquire the Oko West project. The company intends to move the gold project quickly through technical studies to a construction decision.

It will be executed by utilising the considerable amount of exploration, development, and permitting work that has already been completed by Reunion Gold.

Located within the Guiana Shield region, the Oko West project is said to be one of the most significant gold discoveries in the region and has the potential to support a large, long-life mine complex.

G Mining Ventures CEO, president and director Louis-Pierre Gignac said: “Oko West has all the key attributes GMIN is looking for in its next leg of growth.

“We are well-positioned to accelerate value creation at Oko West leveraging our unique expertise in building and operating mines on schedule and on budget in the Guiana Shield, deep knowledge of and network in the region, and over US$480M anticipated near-term free cash flow from Tocantinzinho.”

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The transaction also comprises an additional earn out of $25m.

Established in 1912, Nehring Electrical Works manufactures and markets wire and cable solutions for the utility, telecommunication, electrical distribution, and original equipment manufacturer (OEM) markets.

The company operates through its three business units, namely Nehring Electrical Works Company, Conex Cable and Unified Wire & Cable.

According to Mueller Industries, Nehring Electrical Works is an approved and trusted supplier to various utilities, municipalities, REAs, telecommunications and electrical distribution companies throughout the US.

Nehring Electrical Works reported annual net sales of around $400m for the 12 months ended 31 December 2023.

Mueller Industries CEO Greg Christopher said: “This acquisition provides a substantial platform for long-term growth in the electrical and power infrastructure space and complements the other critical infrastructure sectors we support.

“In addition to its operational culture, which is well aligned with our own, the addition of Nehring leverages our deep expertise in metals, particularly copper and aluminium extrusion, and provides synergies to both companies.”

Based in Tennessee, Mueller Industries produces essential goods for important markets, including air, water, oil and gas distribution, energy transmission, medical, climate comfort, food preservation, aerospace and automotive.

The company is said to be the only vertically integrated manufacturer of copper tubes and fittings, brass rods and forgings in North America. It also has operations in Europe, Asia and the Middle East.

Mueller Industries intends to finance the deal with cash on hand. The company also aims to maintain significant cash reserves following the transaction to support further growth opportunities.

Subject to regulatory approval and customary conditions, the acquisition is anticipated to be completed during Q2 2024.

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The Nordlicht wind farm area is located 85km north of the island of Borkum in the German North Sea, with a total installed capacity of 1.6GW, without involving any state subsidies.

It is said to be Vattenfall’s largest offshore wind farm project and comprises two separate sites, Nordlicht 1 with around 980MW capacity and Nordlicht 2 with around 630MW.

Vattenfall will develop and construct the Nordlicht sites and plans to use its share of future electricity generation to supply customers in Germany with green electricity.

BASF will use its 49% share of green electricity to power its chemical production sites in Europe, especially in Ludwigshafen.

BASF board of executive directors chairman Martin Brudermüller said: “With the investment in Nordlicht 1 and 2, we will now have the necessary amounts of renewable energy to implement the next steps of the transformation in Europe, especially at our largest site in Ludwigshafen.

“Together with our long-standing partner Vattenfall, we are creating the conditions for achieving our 2030 target of reducing our scope 1 and 2 emissions by 25% compared to 2018.”

Nordlicht is Vattenfall’s second major offshore wind project in which BASF is a partner.

In 2021, BASF acquired almost half of the shares in the Hollandse Kust Zuid offshore wind farm in the Dutch North Sea.

Once fully operational, produce is expected to total around 6TWh per annum of clean electricity, which is equivalent to the electricity consumption of 1.6 million German households.

The construction of Nordlicht 1 and 2 is expected to begin in 2026 and will be fully operational in 2028, subject to the final investment decision, which is expected in 2025.

Vattenfall president and CEO Anna Borg said: “Offshore wind energy is an essential contributor to the energy transition in Europe and is expected to replace fossil fuels on a large scale.

“Partnerships play a crucial role in transforming European industries, while strengthening competitiveness.

“We are pleased to deepen our relationship with BASF for yet another important offshore wind project – and in this way accelerate the journey to fossil freedom together.”

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The two companies have signed a Memorandum of Understanding (MoU) regarding the proposed transaction.

Aramco said that the MoU aligns with its plans to expand its downstream presence, advance its liquids-to-chemicals program, and secure long-term crude oil supply agreements.

Hengli Petrochemical, a controlled subsidiary of Hengli Group, owns and operates a 400,000 barrel per day (bpd) refinery and integrated chemicals complex in Liaoning Province, China.

The company also operates several plants and production facilities in Jiangsu and Guangdong Provinces.

Aramco downstream president Mohammed Al Qahtani said: “This MoU supports our efforts to grow our global downstream footprint. We continue to explore new opportunities in important markets, as we seek to progress in our liquids-to-chemicals strategy.

“We look forward to forging new partnerships and are excited by the prospect of expanding our presence in the important Chinese market.”

Earlier this year, Aramco signed 40 corporate procurement agreements worth $6bn with suppliers in Saudi Arabia in a move to advance its strategic localisation programme.

The new corporate procurement agreements are expected to contribute towards the company’s resilience, reliability and ability to meet the changing requirements of its customers.

Through the deals, the company intends to its domestic supply chain ecosystem.

They will cover the supply of a range of products, including strategic commodities, instrumentation, electrical and drilling equipment.

Furthermore, the deals will also provide suppliers with long-term visibility of demand, allowing them to capture future growth as well as advance localisation initiatives.

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The senior secured loan and royalty financing arrangement of around $115m from Appian comprises $70m to help CLP achieve its base case nameplate capacity.

It also includes a $22.2m over-run facility and a $22.2m for expansion beyond base case capacity.

Mayur previously announced an equity funding of $40m from Vision Blue, a clean energy battery metals transition investment vehicle, in exchange for a 49% equity stake in the CLP.

The financing, together with Vision Blue Resources’ $40m equity investment, would help the Central Lime Project (CLP) be fully funded.

Mayur would use the funding to cover the construction costs to achieve the nameplate production capacity of 400,000 tonnes, along with an allocation for expected further expansion.

The first quicklime production is expected to begin 18 months after the financial close.

Mayur managing director Paul Mulder said: “Today marks the key funding milestone in delivering the CLP, which will be a transformative development for Papua New Guinea’s landowners, central province, and the broader manufacturing sector.

“Hundreds of new jobs, support service businesses, electricity, roads, education/health facilities are all part of the benefits that will be created for landowners, whom to date, have lacked such basic services and have been negatively impacted by isolation.

“As the nation’s inaugural industrial downstream manufacturing processing hub, the clp will also materially contribute to the clean energy transition by providing a key input to the processing of energy transition metals in the region.”

Mayur started the construction of the CLP in mid-2023 with primary activities to date being the wharf infrastructure.

With the wharf infrastructure started early, Mayur is allowed to optimise construction logistics and shorten the project’s development schedule.

In addition, the company is anticipated to generate early revenues through the sale of raw limestone aggregate from this wharf during the construction of the kilns.

Appian Capital Advisory CEO and founder Michael Scherb said: “Appian is excited to partner with Mayur and Vision Blue on the Central Lime Project in Papua New Guinea.

“CLP is a leading asset, set to produce low-cost lime products for metal processing, strategically located close to end markets in Australia and Asia.

“The project will also play a pivotal role in highlighting foreign direct investment in png, supporting the country’s growing industrial sector.

“This collaboration showcases the ongoing success of Appian’s dedicated credit and royalties offering, highlighting the significant value our team brings to the delivery of mining assets globally.”

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Octopus Energy will also use Kraken, its proprietary software platform for managing, controlling, and optimizing distributed energy resources (DERs), to allow its clients to create virtual power plants (VPPs) with Enphase’s solar and battery systems. Octopus, upon integrating with Enphase’s technology, enables support for the dynamic management of customer batteries and helps reduce overall energy usage when the grid is the most constrained. With this integration between the two technologies, Octopus’ customers who install Enphase Energy Systems will be able to benefit from Octopus’ smart tariffs, such as “Intelligent Octopus Flux,” which can save customers money on electricity bills each year.

“This strategic relationship is an exciting step forward in solar technology growth and homeowner empowerment in the United Kingdom,” said Devrim Celal, CEO of Kraken Technologies, part of the Octopus Energy Group. “By integrating Enphase’s systems with Octopus Energy’s forward-thinking approach to energy management, we’re not only driving down costs for consumers but also creating a cheaper, greener grid in real-time.”

Octopus Energy is the largest electricity provider in the United Kingdom, offering customer service and energy products to almost seven million households. The company has operations in 16 countries and its advanced data and machine learning platform, Kraken, supports more than 54 million customers worldwide.

The third-generation Enphase Energy System suite offers a significantly improved experience for homeowners and installers because of more power, resilient wired communication, and an improved commissioning experience. The IQ Battery 5P device is a modular design with 5 kWh capacity; the new IQ8 Microinverters provide peak AC power up to 384 W to support newer high-powered solar modules. Homeowners can also use the Enphase App to monitor performance and intelligently manage their systems. Enphase Energy Systems are fully G100-2 compliant to support the latest UK Electricity Networks Association requirements for grid connection of solar and battery storage. In addition, Enphase offers 24/7 customer support and an industry-leading warranty for both solar and battery products. This includes a 25-year warranty for all IQ8 Microinverters and a 15-year warranty for all IQ Batteries activated in the United Kingdom.

“Our innovative home energy systems paired with Octopus Energy’s intuitive tariffs and intelligent management of DERs can unlock huge potential for the energy grid,” said Marco Krapels, vice president of worldwide business development at Enphase Energy. “Together, we can provide flexible and cost-effective energy usage across more than seven million households in the United Kingdom, and accelerate the broader energy transition. We look forward to continuing to grow our relationships with leading energy providers like Octopus Energy across the world and helping homeowners maximize the value of their solar and battery investments.”

Enphase Energy is also a participant in the Octopus Energy GridBoost battery program in Texas.

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The consultation on RWE’s plans launches Monday 22 April 2024 and will end on Monday 20 May 2024. RWE is asking the community for their views on these plans and has launched a consultation where local people can provide feedback on the planning application see here.

RWE’s plans include a circa 110Mwe electrolysis green hydrogen production facility and a 1.5km pipeline running west to connect to nearby industry. Once operational, the site will be capable of producing two metric tonnes of hydrogen every hour with oxygen as the only significant by-product from the plant.

By displacing fossil fuel consumption in local industrial activities, hydrogen generated at RWE Pembroke Green Hydrogen will reduce local CO2 emissions by approximately 93,000 tonnes every year, the equivalent of removing 18,600 cars from the roads.

The UK Government has set a target to deliver 6 gigawatts (GW) of green hydrogen production capacity by 2030, and has identified South Wales as a suitable location, as it could help to secure a more sustainable future for South Wales’ long-standing industrial heritage.

RWE Pembroke Green Hydrogen is further technology coming forward as part of RWE’s vision for Pembroke Net Zero Centre – a new hub of low-carbon innovation and clean energy generation at their power station site.

RWE has outlined its ambition to be carbon neutral by 2040. As part of this commitment, the company will be looking to decarbonise current operations at the power station, while investing in new innovative technologies at the site, including hydrogen, battery energy storage systems, and floating offshore wind.

RWE’s ambitions for Pembroke Net Zero Centre will build on Pembrokeshire’s local energy heritage, safeguarding existing jobs at the site, while delivering a significant local economic investment and creating new jobs throughout construction and operation.

Commenting on wider vision for Pembroke Net Zero Centre, Richard Little, Pembroke Net Zero Centre Director, said: “Green hydrogen generation is the first of three new technologies coming forward at RWE’s Pembroke Power Station site, forming our vision for Pembroke Net Zero Centre. These technologies will each play a unique role in supporting Wales’ pathway to Net Zero.

“To secure the future of industry in South Wales, and safeguard local jobs, we need to provide clean energy alternatives, locally. Our proposals for Green hydrogen generation will do just that, helping to reduce CO2 emissions in local industrial activities by approximately 93,000 tonnes every year.

“We strongly encourage the community to get involved in the consultation process, to learn more about our proposals for green hydrogen technology, our wider ambitions for Pembroke Net Zero Centre, and to have their say on the proposals.”

Members of the community can contact the project team and leave feedback via the project website, telephone, or via email or by writing to ’Freepost PNZC Consultation’, with no stamp needed.

Furthermore, local residents have the opportunity to schedule a private discussion with the project team to discuss the plans in more detail, and to ask any questions. Please call or email to arrange this meeting.

RWE is the largest power producer in the UK, and a leading renewable generator with a diverse operational generation portfolio of onshore wind, offshore wind, hydro, biomass and gas. RWE is developing ~1GWe hydrogen opportunities across the UK. and  is targeting 2GW of green hydrogen electrolyser capacity in its core markets by 2030.

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Under the terms of the contract, KBR will provide technology licensing and proprietary engineering design for a 250 KTA phenol plant at SABIC’s Fujian Petrochemical Complex. The final investment decision for this project was announced in January 2024 with expected completion in FY 2026. KBR’s phenol technology offers a sustainable and differentiated solution through reduced energy consumption and improved yields.

“We are excited to offer our industry leading phenol technology to SABIC Fujian for this ambitious project in China,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “KBR’s market-leading phenol technology increases our customers’ competitive advantage and advances their sustainability objectives through superior efficiency, reliability, wastewater recovery and performance.”

KBR is a global technology licensor and has offered its leading phenol technology for more than six decades, completing more than 50 phenol projects worldwide.

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The contract covers Engineering, Procurement and Construction (EPC) of a natural gas liquefaction train with an LNG production capacity of 1 Mtpa. The plant will use electric-driven motors instead of conventional gas turbines and will be powered by renewable electricity from a planned nearby solar farm which will cover 100% of the annual power consumption of the LNG plant. This is positioning the site as one of the lowest greenhouse gases intensity LNG plants ever built worldwide. The LNG produced will notably be used as a marine fuel to reduce the sipping industry’s carbon footprint.

The Marsa LNG project is an integrated complex developed by TotalEnergies (80%) and OQ (20%).

Arnaud Pieton, CEO of Technip Energies, commented, “The world’s net-zero trajectory will require LNG as a critical source of energy, while addressing emissions abatement. TotalEnergies and OQ’s progressive Marsa LNG project is an example of how we can decarbonize the LNG value chain by powering its production with renewable energy and using it as a marine fuel to reduce emissions linked to maritime transportation. By leveraging our innovation and global leadership in LNG infrastructure design and delivery, we are proud to support TotalEnergies and the Sultanate of Oman in providing reliable, affordable and sustainable energy to the world.”

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