Survey finds private equity investors looking to boost renewable holdings, cut oil and gas ties FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Roughly 40% of private equity investors say they will be reducing investments in the oil and gas sector in the next five years because of climate change concerns, according to a winter outlook survey conducted by secondary market investment firm Coller Capital Ltd.“Limited partners who do expect change to their investment strategies are broadly planning to replace oil and gas exposure with investment in renewable energy and climate-friendly products and services,” Coller said in the survey’s Nov. 28 release.While 57% of the 113 limited partner investors surveyed in Europe and Asia said they were changing energy strategies in reaction to climate change, only 30% of North American limited partners said the same, according to the survey. Just 16% of those in North America expect to need to make these modifications within the next five years, the survey found. More than one-third of those surveyed said they would be reducing investment in oil and gas, 42% said they would put more money behind climate-friendly goods and services, and 40% said more investment cash would go to renewable energy, according to the survey. [Bill Holland]More ($): Concerned over climate, PE investors looking to leave oil, gas for renewables
The Swiss operating company Nord Stream 2 AG and Kvaerner have signed a contract for delivery of onshore facilities for a new Russian gas export pipeline. The contract value is above NOK 600 million ($71.6M), Kvaerner informed on Thursday.The two 1,200-km Nord Stream 2 pipelines will mostly follow the route of the existing Nord Stream pipeline in the Baltic Sea – from the coast of Russia to Greifswald on Germany’s northern coast. The project will have the capacity to transport up to 55 billion cubic meters of gas per year from Russia to Europe, connecting with pipelines within the European Union for onwards transmission.The new Nord Stream 2 pipeline will provide gas supplies to the European market. Kvaerner’s subsidiary Kvaerner LLC is contract partner for the work related to the construction of parts of the onshore facilities at the pipeline’s export landfall facilities in the St. Petersburg region.The work will include procurement and project management for civil, mechanical and piping works in addition to installation of some onshore pipelines and service buildings at the facilities.The scope of Kvaerner LLC’s contract consists mainly of civil works and foundations, procurement and installation of piping and valves for the pipe cleaning pig launch and receiver unit. The scope also includes installation of the approximately two kilometer long adjacent pipeline onshore, as well as construction of permanent buildings for operation of the gas export plant. Design of the installations will be performed by Nord Stream 2 AG’s engineering contractor.“We are excited to be selected for this important new project. We have extensive experience from both delivery of onshore plants and from solid track record on execution of projects in Russia,” says Hans Petter Mølmen, Executive Vice President for Concrete & New Solutions in Kvaerner.Kvaerner LLC’s execution of the Russian export landfall facilities will take place in cooperation with local subcontractors and international suppliers.When it comes to the project’s progress, Gazprom which manages the project construction through its subsidiary Nord Stream 2 AG, recently revealed that the construction of the Nord Stream 2 pipeline was on course to be completed in 2019.