South Korea's Korea Midland Power (KOMIPO) has cancelled plans to build a liquefied natural gas (LNG) import terminal on the western coast of the country due to high costs and declining demand for the fuel.KOMIPO said in a statement to Reuters on Monday that its board had approved the plan to withdraw a LNG terminal construction project in Boryeong on June 28. Construction costs for the project had been expected to rise by about 22% from 732…
South Korean President Yoon Suk Yeol gave the green light on Monday to conduct exploratory drilling for potentially vast oil and gas prospects found off the east coast of the nation that is one of the world's largest energy importers.The possibility…
State energy firm Pertamina and U.S. major ExxonMobil plan to conduct appraisal drilling for a carbon capture and storage (CCS) hub in Indonesia, with the companies signing an initial storage deal with South Korea's KNOC on Wednesday.Indonesia…
Cyan Renewables, a portfolio company of Seraya Partners, has entered into a strategic collaboration with Hyundai Asset Management to establish a robust vessel supply with strong local content for South Korea's offshore wind market.Cyan Renewables…
Vestas has signed a memorandum of understanding (MoU) with A.P. Moller-Maersk, Jeonnam Province, and Mokpo City to build an offshore wind hub in Mokpo City in the Jeonnam Province, South Korea.Under the MoU, the parties will work together with…
DNV, the independent energy expert and assurance provider, has been selected by Equinor to provide verification services for Front End Engineering and Design (FEED) of the substation of the Bandibuli / Firefly floating wind farm.The wind farm comprises two 75 km2 areas…
South Korea has awarded Germany’s top utility RWE a 495 MW Electricity Business License (EBL) to develop the Seohae offshore wind project, off the coast of Taean County in South Korea’s Chungcheongnam Province.The license, awarded by the Ministry of Trade…
QatarEnergy signed time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25, 174,000 cubic meter LNG vessels as part of the second ship-owner tender under QatarEnergy’s historic LNG Fleet Expansion Program…
Lighting solutions specialist Glamox has secured three separate orders for LED lighting for the turbine foundation transition pieces for fixed offshore wind farms in Taiwan and South Korea.The contracts Glamox secured are for Hai Long Wind farm 2 and 3…
Danish vessel owner Esvagt and South Korea-based shipping company KMC Line have formed strategic partnership to cooperate on offshore wind opportunities in the East Asian country.A new collaboration between Esvagt and KMC Line, formalized through the signing of the letter of intent…
Ørsted has signed a memorandum of understanding (MoU) with Incheon Metropolitan City in South Korea to cooperate on developing a world-class offshore wind power industry in the region.The aim of the agreement is to establish a successful local wind power industry driven by Ørsted’s 1…
Dutch survey company Fugro has opened a new office South Korea, dubbed ‘Fugro UST21’, as part of a joint venture with South Korean marine technology company UST21.Based in Incheon, the new office will provide geo-data solutions for South Korea’s growing offshore renewable energy sector…
Danish company K2 Management (K2M) has been selected by Pacifico Energy Korea as Owner’s Engineer for first phase of Pacifico Energy Korea’s 3.2 GW offshore wind farm complex.K2M will provide pre-construction analysis and technical support on the first phase of the project…
Danish company Vestas has signed has signed a preferred supplier agreement with Hanwha Corporation for the 390 MW Shinan Ui offshore wind project in South Korea.The project is developed by Shinan Ui Offshore Wind, a special purpose company established by Hanwha Corporation E&C Division…
Taihan Cable & Solution has won a $77.3 million contract for the supply of subsea cables for the 365 MW Yeonggwang Nakwol offshore wind farm in South Korea, and purchased what is said to be the country's only cable-laying vessel (CLV) for the offshore wind market…
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