Energy News and Jobs - Weekly Roundup - 16th February 2024
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Welcome to the Energy Jobline weekly roundup of all the top energy news and jobs for the week ending February 16th 2024, covering all sectors of our industry.
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BEFORE WE BEGIN:
GETI 2024 LAUNCHES!
84 PAGES OF INDUSTRY INSIGHTS AND ANALYSIS - DOWNLOAD YOUR FREE COPY HERE
?? Dive into the Future of Energy! ??
Energy Jobline and Airswift are proud to launch the 8th annual Global Energy Talent Index (GETI) for 2024.
GETI is the world’s most established and comprehensive energy workforce trends report, featuring insights from professionals working in the renewables, oil and gas, petrochemicals, power and nuclear sectors.
This year, GETI examines how artificial intelligence (AI) will revolutionize the energy workforce and reshape the industry.
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QUICK LINKS:
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THIS WEEK'S FEATURED RECRUITER:
RHL Recruitment - HIRING IN THE UK
RHL is one of the UK’s longest established technical recruitment consultancies with over 40 years’ experience in supplying technical and commercial staff for the Energy sector, UK and Overseas.
We place people with specialist knowledge and experience within Oil & Gas, Petrochemical, Fuel Storage Operations and Renewable Energy sectors (On/Offshore Wind, Hydro and Solar).
If you are considering your career options - whether it is impartial guidance on the best way forward, or the identification of key opportunities within your market, we are well placed to support you.
RHL UK JOBS INCLUDE:
Electrical Design Engineer - Manchester
Senior Mechanical Design Engineer - Birmingham
Senior Mechanical Engineer -Manchester
Structural Investigation Engineer - Milton Keynes
Purchasing Analyst - Peterlee
HR Advisor - Gosport
Lead Installation Engineer - Sutton
Mechanical Technician - Gosport
Senior Subsea CAD Designer - Sutton
Project Engineer - Immingham
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OIL AND GAS NEWS
Shell Forecasts 50% Surge in Global LNG Demand by 2040
Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth, Shell said on Wednesday.
The market remains “structurally tight”, with prices and price volatility remaining above historic averages, constraining economic growth, the world’s largest LNG trader said in its 2024 annual LNG market outlook.
Demand for natural gas has peaked in some regions, including Europe, Japan and Australia in the 2010s, but continues to rise globally, and is expected to reach around 625-685 million metric tons per year in 2040, Shell said. That is slightly lower than Shell’s 2023 estimates of a global demand increase to 700 million tons by 2040.
“While things are relatively balanced and seemed relatively comfortable today, the market is still quite fragile,” Steve Hill, executive vice president for Shell Energy, told analysts on a call following the outlook report.
“We have a structurally tight market that’s been balanced by near-term market weakness for where we see fragility and volatility continuing,” Hill said.
Shell said that global demand for LNG is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth.
China, which in 2023 overtook Japan as the world’s top LNG importer, is likely to dominate LNG demand growth this decade as its industry seeks to cut carbon emissions by switching from coal to gas, the report said.
“China is the market that we are most bullish about this decade. And one of the reasons for that is the massive amount of new gas infrastructure that is coming on stream at the moment,” Hill told analysts.
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6,500 ENERGY JOBS IN SAUDI ARABIA
Tax-free salaries, high wages, and generous benefits make Saudi Arabia an invaluable place for those looking to maximise their earning potential.?
Many are attracted to the career prospects that Saudi Arabia can offer. Working in Saudi Arabia provides the chance to work in a globally renowned market, with high-quality jobs across many different industries.
It also presents the opportunity to gain valuable international experience and employment credentials that can open doors for advancement into more senior roles.?
Working in Saudi Arabia provides the chance to work in a globally renowned market, with high-quality jobs across many different industries.
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Global Oil Stock Refill Led by China and U.S. Expected to Drive Demand
A push to replenish depleted oil stocks notably in China, the United States and Europe could buoy demand and prices in coming months, analysts and traders said, as tensions in the Middle East threaten key shipping lanes.
Heavily depleted by supply disruptions wrought by sanctions on Russia in the middle of 2022, as well as protracted OPEC+ output cuts, global oil inventories have barely recovered with traders unable to justify the costs for storing oil.
Shipping disruption in the Red Sea due to escalating attacks by Iran-aligned Houthi rebels has increased concerns about supply, spurring buyers to rebuild inventories.
摩根士丹利 raised its quarterly outlook for Brent crude prices on Tuesday to an average of $82.50 a barrel in the first and second quarters – compared with $80 and $77.50 previously – suggesting the bank now expects a tight oil market this year.
Consultants FGE said that available data so far this year has shown a large counter seasonal fall in crude and fuel stocks of almost 29 million barrels, compared with a typical average build of 20 million barrels during January in 2015-2019.
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MORE OIL AND GAS HEADLINES:
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?? 25 HOT JOBS THIS WEEK ??
Tool Specialist - Saudi Arabia, from Energy Jobline
Field Engineer - Saudi Arabia, from Energy Jobline
Field Supervisor - Saudi Arabia, from Energy Jobline
H2S Engineer / H2S Technician - India, from REACH Employment Services
Electrical Installation Engineer - Sweden, from ULTEAM
Senior Cost Controller - Canada, from ULTEAM
Tension Machine Operator - Senegal, from iPS Powerful People
Third Engineer - UK, from iPS Powerful People
Winch Operator - Netherlands, from iPS Powerful People
WIND SALES TECHNICIAN MIDWEST US - USA, from Mersen
Camp Maintenance Supervisor - UAE, from REACH Employment Services
Design Manager - Paris France, from Energy Jobline
Lead Mechanical Engineer - UK, from inhouserecruiter
Mechanical Engineer - MO, USA, from Airswift
Senior Cost Engineer - Sweden, from @ULTEAM
Chef Service Workover & Completion - Algeria, from Staff Logistics Limited
Senior Engineer - Planning - Algeria, from Staff Logistics Limited
CDS ELECTRICAL - Algeria, from Staff Logistics Limited
Procurement Manager - Dubai, from PESCO Энергия и Ресурсы
Offshore Marine Inspector COC certified - Saudi Arabia, from REACH Employment Services
Fire Safety Consultant - Sweden, from ULTEAM
Project Manager - Nuclear - Canada, from Aecon Group Inc.
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VISIT BOSS Energy Consulting AT World Hydrogen Summit & Exhibition 2024
The landmark event in the industry’s calendar, World Hydrogen 2024 Summit & Exhibition, is the largest and most senior global hydrogen event and it returns to Rotterdam with its biggest edition yet!
If you are attending, make sure to visit BOSS Energy Consulting at STAND C66 and see how they can help you with your recruitment needs.
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Exclusive webinar: Navigate energy regulation with Repsol , EDP , and ENGIE ?
from Reuters Events
Join Reuters Events’ upcoming ‘Zeroing In’ webinar, From Obstacle to Opportunity: Navigating Regulation in Global Energy Markets (22 Feb/ 11am ET) to unlock the tools needed to navigate the evolving regulatory landscape and streamline access to incentives.?
How can business leaders position their operations to capitalize on incentivization, landmark policies, and regional market nuances? What practical steps can businesses take to make informed decisions that maximize their return on investment?
Industry-leading speakers sharing expert guidance and actionable strategies include:
Can’t make it? No problem! Recordings will be sent to all attendees who pre-register. Sign up now to avoid missing out!?
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Energy Jobline - HIRING NOW!
TOOL SPECIALIST / FIELD ENGINEER / FIELD SUPERVISOR - 20x POSITIONS AVAILABLE
?? $200 REFERRAL REWARD ON OFFER
We pay $200 for any successful referral that you can recommend for these positions who are successfully placed into the role.
To make a referral, email us at:?[email protected]
MORE SAUDI ROLES WITH REFERRAL REWARDS INCLUDE:
?? FIELD ENGINEER - 20x POSITIONS AVAILABLE
领英推荐
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aramco - HIRING NOW!
713 ACTIVE ROLES IN SAUDI ARABIA
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RENEWABLE ENERGY NEWS
World must spend $2tn a year to triple renewables, double current levels
The global goal of tripling renewables by 2030 will require doubling current spending levels to hit $2tn of investment each year, finds a new report, which also calls out several “laggard” countries in the energy transition.
$8tn of investment is needed for new renewables by the end of the decade along with $4tn for electric grids and energy storage, according to the report from Berlin-based think tank Climate Analytics.
That equates to $2tn a year to meet the goal of tripling renewables by the end of the decade that global leaders set at the COP28 UAE climate summit in Dubai. Last year, the report found global investments in renewables and grids only reached around $1tn.
It means a total investment of $12tn in investment is needed by the end of the decade. The world is currently on track to invest just $6.6tn, the report found.
“$2tn a year sounds like a cost, but it’s really a choice,” said Climate Analytics expert and the report’s lead author Neil Grant.
“We’re set to invest over $6tn in fossil fuels over this decade – more than enough to close the tripling investment gap. Faced with this choice, I’d go with the safest, best value option – renewables.”
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107,000 USA ENERGY JOBS
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Eversource Energy to sell stake in two offshore wind projects for $1.1 bn
Eversource Energy on Tuesday said it will sell its stake in two energy projects in a $1.1 billion deal that helps the New England-based power company exit the troubled offshore wind business.
Eversource said it would sell its 50 percent share in the 132-megawatt South Fork and the 704-megawatt Revolution offshore wind projects, which it owns jointly with Danish firm ?rsted to Global Infrastructure Partners (GIP) .
"Eversource will remain an integral player in this historic shift to a clean energy generation mix by focusing on our strengths as a regulated transmission builder and operator," said Eversource CEO Joe Nolan said.
The deal is expected to close in mid-2024.
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MORE RENEWABLES HEADLINES:
Epson plans construction of biomass power plantDow Issues Inaugural $1.25 Billion Green Bonds to Fund New Net Zero Chemical Plant
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NUCLEAR & POWER NEWS
British taxpayers told to cover costs of French nuclear power station
France is asking British taxpayers to pay up once again to fund nuclear power stations in the UK after further delays and cost increases to the projects.
French finance minister Bruno Le Maire said he would be requesting an “equitable sharing of costs” from Chancellor Jeremy Hunt MP after reports surfaced that the power plants were tens of billions of pounds over budget.
The UK government has not budged on paying up; last month, a spokesperson said: “Any additional costs or schedule overruns are the responsibility of EDF and its partners and will in no way fall on taxpayers.”
The plants, Somerset’s Hinkley Point C and Suffolk’s Sizewell C, are being built by French energy provider EDF , who signed a contract with the UK government in 2016.
Based on current energy consumption levels, the two plants are one day set to produce 14 per cent of the UK’s electricity supply.
But the beleaguered project has been delayed again – this time to 2031, with cost increases pushing the bill up by nearly ￡10billion.
Hinkley Point C’s costs have risen to an astonishing ￡46bn – a 150 per cent increase on the ￡18bn slated for the plant in 2016.
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COMPANIES HIRING GLOBALLY INCLUDE:
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GLOBAL ENERGY JOBS BY SECTOR
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EV and BATTERY NEWS
Europe’s Battery Storage Boom Is An $84 Billion Investment Opportunity
Europe is set for a boom in battery storage installations with grid-scale capacity expected to jump sevenfold by the end of this decade and represent $84 billion (78 billion euros) in total investment opportunities through 2050, Aurora Energy Research said in a new?report?this week.
As a key enabler of renewables rollout, battery storage is set for a massive acceleration by 2030, according to Aurora Energy Research’s European Battery Markets Attractiveness Report, which examines 24 countries to determine which offer the most attractive investment opportunities for Battery Energy Storage Systems (BESS).
Aurora expects Europe’s installed grid-scale BESS capacity to jump from 7.1 gigawatts (GW) as of the third quarter of 2023 to 51 GW by 2030 and 98 GW by 2050.
In total, these capacity additions would represent a cumulative investment opportunity of $84 billion (78 billion euros) through 2050, including repowering opportunities, Aurora noted.
Great Britain, Italy, and Ireland will lead the pack in grid-scale battery storage investment, thanks to solid spreads, strong policy support, and capacity market remuneration, according to Aurora. ?
The UK is the most attractive market in Europe, thanks to attractive and stackable revenue streams. Britain also has the most installed capacity as well as the most capacity in the pipeline, Aurora said.
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