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[the grumpy old men] 19/9/2016 05:23

GTT gets ‘disruptive217; – Berterottière talks costs, simplicity and scaled-down LNG designs

Mon 19 Sep 2016 by Karen Thomas

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GTT gets ‘disruptive217; – Berterottière talks costs, simplicity and scaled-down LNG designs
Philippe Berterottière: “We have to question and revisit that technology for small-scale applications”

LNG World Shipping: 2016 has been a slow year for new orders; what are your expectations, in terms of when shipowners will start ordering LNG carriers again, reviving demand for GTT containment systems?

Philippe Berterottière: Based on new liquefaction projects agreed in the last two years, we believe that the market will need an additional 50 LNG carriers – and very soon. This LNG will become available in 2018-2019, which means these ships will need to be ordered quickly.

In the meantime, we are also looking at opportunities for GTT in LNG as bunker fuel. We are very focused on developing LNG-fuel tanks for non-LNG oceangoing carriers – and at cruise ships and container ships in particular. Here, we may not rely on the shipyards and are looking instead at partnerships with the outfitting companies that will build our systems.



Can you tell us about those partnerships, and your criteria for choosing these companies?

So far, we have three such partnerships; with Endel in France, with Gabadie in Spain and with AG&P in the Philippines. We have built trust with these partners, and they have brought GTT a network able to build our LNG-fuel tanks.

All three offer multiple capabilities, have experience in the oil and gas industries and are skilled at welding techniques, particularly in stainless steel. They also have the ability to move their workforce to third-party yards. Above all, they have the management capability to handle very complex projects.



How aggressively are you pursuing additional new partnerships?

We are not looking to expand our partnerships in the market for the time being. We have made a slow start in this market, reflecting today’s low energy prices and the price gap between LNG and marine gasoil (MGO).

If and when we see the market skyrocketing, we may well seek new partners – while still insisting on the kind of trust-filled relationship we have with our three current partners and with the emphasis on quality. We listen to recommendations and are committed to the highest quality.



When the recovery comes, what markets do you see as your most important targets?

The main markets of interest, with our existing partners, are in southeast Asia. We also believe that LNG as marine fuel will develop in Europe, where two of GTT’s partners are based. We are also thinking of developing this kind of partnership in the US and are looking at ways to do this.



This year has brought some exciting initiatives to promote LNG as marine fuel; GTT has joined some of the biggest players in shipping to launch SEALNG and Engie, Mitsubishi and NYK just launched Gas4Sea at SMM. Is the tide turning to favour LNG as an alternative fuel?

So, the chicken-and-egg situation? People are working hard to break that old logic, taking initiatives that prove that we are not locked any more in that same old dilemma. As far as GTT is concerned, we are taking the initiative – and at SMM we signed an agreement with CMA CGM, DNV GL, ABB, Solar Turbines and OMT to develop designs for a large, LNG-fuelled container ship.

We are developing and refining our technology for this application to break this dilemma. Once the market grows and develops, we will need many partnerships of the kinds that you mention. It shows that the technology is ready and the right networks are starting to exist.

The critical factor is the price gap between LNG and MGO, which needs to be large enough to amortise the cost of the equipment. We don’t have that at the moment, but we should still take the opportunity to be better prepared for when things start to happen.



What prospects do you see for growth in small-scale and coastal LNG shipping?

For GTT, the main issue we need to address is what happens when we reduce the size of the LNG-carrier structure – when you reduce the size, you don’t necessarily reduce the cost. That makes our business plan unbalanced – scaling-down weighs heavy on that plan.

We have to be imaginative enough, to be disruptive enough to come up with solutions for these applications that are more cost-effective. Right now, we are working on designs for barges that are significantly more cost effective than small LNG carriers, that may address the requirement to deliver smaller quantities of LNG in the vicinity of the largest terminals.

We are building a barge designed as a feeder to large container ships in the US that can also deliver small quantities of LNG. We are looking to reduce the cost of the structure to make this solution possible – otherwise, the figures will not match.

Construction is under way at Conrad Shipyard on the 2,200m³ barge to deliver LNG to TOTE’s container ships, and we are already drawing lessons from this project. This is very different to the work we do for large LNG carriers.

When I spoke earlier about developing partners, it’s also about working with the small yards that can build these smaller structures. We have other designs, of 4,000m³, 5,000m³ and 6,000m³, going all the way up to 30,000m³.



You also used the word ‘disruptive217; earlier; it’s a term gaining common usage in many industries. What does being disruptive mean to GTT?

It’s about being disruptive with regard to technology – our technology has traditionally been used for very large LNG carriers. We have to question and revisit that technology for small-scale applications, making it a lot simpler, adapting to very different constraints.

Simplicity, cost – these things become very important. Because the ships will not necessarily sail on the high seas, you have to look at the constraints of the technology and adapt them to very particular new requirements.

The second point about being disruptive is that we think of ways to make LNG available in very different ways. And the third is about working with smaller yards that have strong management, able to deliver high quality. It about being disruptive in terms of technology and in terms of doing business.



What are your concluding thoughts?

We believe that LNG is the fuel of the next decade – the way to clean up the atmosphere. The LNG industry has the expertise to make that opportunity possible – and the responsibility for making that possible. That is our commitment at GTT.

[the grumpy old men] 01/9/2016 11:28

Cybersécurité: Thales va superviser les infrastructures informatiques d'Engie

Publié le 30 août 2016 à 14h24

Paris, 30 août 2016 (AFP)

Thales va assurer pour une durée de 5 ans la supervision du système d'information d'Engie dans le cadre d'un contrat visant à accompagner le plan de transformation numérique de l'énergéticien et à anticiper la cybermenace, ont annoncé les deux groupes mardi.

Thales assurera "la supervision de sécurité 24h/24 et 7j/7 du système d'information d'Engie", selon un communiqué conjoint des deux groupes précisant que ce "partenariat mondial répond à l'enjeu d'anticipation de l'évolution de la cybermenace afin de garantir au groupe énergétique un environnement de sécurité optimale, en particulier dans le domaine industriel".

"Dans un contexte de mutation accélérée" des activités énergétiques "il est essentiel d'assurer la cybersécurité de notre système informatique", a souligné Isabelle Kocher, directeur général d'Engie, lors de la signature du partenariat.

Aucune indication n'a été donnée sur le montant de ce contrat visant à renforcer la sécurité des infrastructures informatiques du groupe énergétique qui traite un nombre croissant de flux d'informations, à travers les réseaux intelligents, la maintenance prédictive et les objets connectés.

"Face à une cybermenace grandissante (+51% en France et +38% dans le monde en 2015), Engie et Thales ont décidé d'unir leurs compétences au sein d'un Security Operation Center (SOC) mondial dont l'objectif est de maintenir au plus haut niveau la capacité de prévention et de réaction", précisent les deux partenaires.

Ce centre de supervision sera basé au sein du data center de Thales à Elancourt (Yvelines) ainsi que dans les locaux d'Engie à Saint-Ouen (Seine-Saint-Denis).

"Engie prévoit notamment de consacrer 1,5 milliard d'euros sur 3 ans pour les nouveaux business et le numérique" dans le cadre de son plan de transformation, a rappelé Mme Kocher.

Thales est un leader mondial des hautes technologies pour les marchés de l'aérospatial, du transport, de la défense et de la sécurité.

Le groupe d'électronique et de défense s'appuie sur ses compétences en cryptographie pour proposer des solutions de cybersécurité pour les infrastructures critiques gouvernementales et militaires, les réseaux de satellites et les entreprises industrielles et financières.

Selon Patrice Caine, PDG de Thales, le groupe compte environ 2.000 experts en cybersécurité une "activité en très forte croissance" qui représente environ 500 millions d'euros de chiffre d'affaires.

M. Caine a mis en avant la dualité du groupe d'électronique et de défense.

"Pour rester à un haut niveau mondial on est obligé de se confronter aux 'meilleurs' attaquants", a-t-il souligné ajoutant que c'est dans le cadre des "activités de défense" que cette confrontation est possible, permettant le développement d'une expertise.

sw/fpo/jpr

THALES

ENGIE
© 2016 AFP.

[waldron] 27/8/2016 10:21

Iran, France ink new gas deal
iran-france
News ID: 3752914 - Sat 27 August 2016 - 10:33
Economy
TEHRAN, Aug. 27 (MNA) – A POGC official has reported on the signing of a contract with a French firm for conducting pressure drop studies in South Pars joint gas field.

Director of Engineering and Construction at Pars Oil and Gas Company (POGC) Mohammad Meshkinfam described the plans to prevent pressure loss in South Pars phases saying “at the present time, the main strategy is to install gas compressor stations in the joint gas field.”

He said the second phase of gas compressor plans can be implemented only after new phases become operation asserting “pressurizing gas proves to be a more complicated process than building and running new phases.”

“Each gas South Pars platform capable of producing one billion cubic meters weighs about 1500 to 2000 tons,” underlined the official stressing that gas compression facilities to be set up in the field would nearly weight 20 thousand tons.

In other words, gas compression stations are approximately ten times heavier than existing platforms, underscored the official stating “a contract has been inked with a French company to complete the study phase of the huge project.”

Meshkinfam underlined that the second consultation agreement will soon be sealed with an international company; “preliminary study phases are expected to last for around six months.”

The POGC official said the best strategy for construction and implementation of gas compression facilities will be chosen once the studies have been carried out.

Mohammad Meshkinfam said the tenders for the project will be invited within the next two years reiterating “the tenders will be put in while prioritizing phases which have experienced pressure loss.”

HA/3752184

[sarkasm] 26/8/2016 14:02

Biden: Nord Stream 2 is bad for Europe
Friday, August 26, 2016 8:30:20 AM

The Vice-President of the USA, Joe Biden, said that Washington is convinced that the construction of the Russian gas pipeline project "Nord Stream 2" is a bad thing for Europe.

"This will allow Russia to destabilize Ukraine,” Biden said on the 25th of August, 2016 in Stockholm, adding that Europe needs to diversify its sources of gas supply. "No country should use energy as a weapon," Biden said appealing to Russia.

Nord Stream 2 is a gas pipeline under construction that is intended to deliver gas from Russia to Germany under the Baltic Sea, bypassing Ukraine. The construction of the two pipelines is planned to be completed in 2019. The majority shareholder of the company responsible for the construction is the Russian Gazprom.

The EU and the U.S. insist that any new infrastructure in this field concerning the European Union should fully comply with the European Union's Third Energy Package.

Ukraine is one of the main transit countries with the largest gas storage facilities and capacities for gas transport in the EU. It handles a volume of more than 120 billion cubic meters per year.

Russia has repeatedly stated the need for diversification of risks and the unreliability of Ukraine as a transit country. Moscow is already supplying gas to Europe, mainly to Germany, bypassing Ukraine via the first Nord Stream pipeline, which runs under the Baltic Sea.

The European Union blocked the construction of a similar Russian project, “South Stream" because the pipeline should have been laid in the Black Sea.

[sarkasm] 26/8/2016 10:10

ENGIE Gas & LNG secure victory in Supreme Judicial Court

Law firm, Foley Hoag LLP, has announced that it recently secured a victory on behalf of its client ENGIE Gas & LNG in the Massachusetts Supreme Judicial Court (SJC).

The SJC unanimously agreed with ENGIE that the Massachusetts Department of Public Utilities (DPU) erred when it issued an order authorising electric utilities to procure new gas pipeline capacity and to then seek recovery of those costs from electric ratepayers.

Attorney Tad Heuer, who argued the case for ENGIE before the SJC, said: “This major decision provides valuable clarity from the state’s highest court on the scope of the DPU’s oversight authority […] It also reaffirms Massachusetts’ commitment to competitive power markets.”

In June 2015, the DPU sought public comment on whether Massachusetts law allowed electric utilities to procure gas pipeline capacity and recover the procurement costs from electric ratepayers. ENGIE’s written comments to the DPU emphasised that neither the plain language of the relevant statute (nor the statute’s 86-year history) permitted such a scenario. ENGIE also observed that in 1997, the Massachusetts Legislature restructured the electric utility industry to encourage competition — and to prohibit the vertical integration of generation, distribution and transmission. Nonetheless, in October 2015, the DPU issued an order allowing electric utilities to procure gas capacity contracts and to seek cost recovery from their ratepayers.

ENGIE appealed the DPU order directly to the SJC and contended that the DPU order was contrary to both the plain language of the DPU’s enabling act and the 1997 restructuring act.

On 17 August 2016, the SJC decided in favour of ENGIE. The SJC concluded that the DPU order “represents a significant departure from [the DPU’s] own history of administering” its enabling act, and that “the Legislature did not intend to authorise the [DPU] to approve the contracts contemplated in its order.”

The SJC also held that because the fundamental purpose of the 1997 restructuring act was “to move from a regulated electricity supply market to an open and competitive market for power,” allowing the DPU order to stand would “undermine the main objectives of the [restructuring] act and re-expose ratepayers to the types of financial risks from which the Legislature sought to protect them.”

Edited from press release by Callum O'Reilly

Published on 26/08/2016

[grupo guitarlumber] 14/8/2016 06:22

Dividende

Le dividende est la rémunération des actionnaires distribuée à partir du bénéfice net de l’exercice et/ou des bénéfices mis en report à nouveau ou en réserves.

Il est décidé par l’Assemblée Générale sur proposition du Conseil d’administration, après approbation des comptes annuels et affectation du résultat.

Pour l’exercice 2015, le dividende a été fixé à 1 € par action.
Politique de dividende
[2016] [2016 & 2017] [Prime de fidélité]
Politique de fidélisation des actionnaires

Au cours de l’Assemblée Générale du 28 avril 2014, les actionnaires ont approuvé l’instauration d’un dividende majoré de 10% pour tout actionnaire justifiant d’une inscription nominative (pure ou administrée), depuis au moins deux exercices (années civiles pleines), en continu et jusqu’à la date de mise en paiement du dividende.

Cette politique vise à récompenser la fidélité des actionnaires qui partagent l’ambition du Groupe à long terme.

Pour les actionnaires ayant inscrit leurs actions au nominatif avant le 31/12/2014, la majoration du dividende s’appliquera pour la première fois en 2017 pour le paiement du dividende dû au titre de l’exercice 2016 et sera plafonnée pour un même actionnaire à 0,5% du capital social.

Pour les actionnaires ayant inscrit leurs actions au nominatif entre le 1er janvier 2015 et le 31 décembre 2015, la majoration du dividende s’appliquera pour la première fois en 2018 pour le paiement du dividende dû au titre de l’exercice 2017 et sera plafonnée pour un même actionnaire à 0,5% du capital social.

Afin d’identifier clairement les actions qui pourront donner droit à la prime de fidélité, celles-ci sont répertoriées sous les codes ci-dessous

FR0012333151 ENGIE PRIME DE FIDELITE 2017 : ce code donne droit au dividende majoré à compter du paiement de dividende qui sera réalisé; en 2017,
FR0013055100 ENGIE PRIME DE FIDELITE 2018 : ce code donne droit au dividende majoré à compter du paiement de dividende qui sera réalisé; en 2018.

Ces actions restent cessibles au même titre et selon les mêmes modalités que les actions cotées sur le code principal ENGIE (FR0010208488).

[grupo guitarlumber] 13/8/2016 13:30

Calendar

14 Oct 2016

2016 interim dividend (€0.50 per share)

[grupo guitarlumber] 13/8/2016 12:35

14/09/16 | 09:15 ACI Hydropower Development Europe Summit

[waldron] 02/8/2016 20:34

JOHN ROSS FORGET ALL THE ABOVE

I GUESS YOU ARE BUYING THIS COMPANY

[waldron] 02/8/2016 19:21

Engie Confirms Targets as First-Half Profit Rises
28/07/2016 6:18pm
Dow Jones News

Engie (EU:ENGI)
Historical Stock Chart

1 Month : From Jul 2016 to Aug 2016
Click Here for more Engie Charts.

By Inti Landauro


PARIS--French power utility Engie SA (ENGI.FR) Thursday confirmed its targets for 2016 after its net profit rose, boosted by gains made on hedging contracts related to electricity and gas purchases and a gain made on the partial sale of a unit in Chile.

The company, which was formerly known as GDF Suez, said its net profit in the first half of the year rose 11% to 1.2 billion euros ($1.33 billion), while revenue over the period fell 13% to EUR33.5 billion. Analysts expected a net profit of EUR1.4 billion out of revenue of about EUR38.7 billion in the first half.

The company attributed the revenue decline to lower oil and gas prices and retail electricity prices. A mild winter in France and Western Europe also hurt energy demand in the first three months of the year.

Like many of its peers in Europe, the group has suffered from sluggish demand for energy in Western Europe, where growth has been sluggish. At the same time, subsidies for renewable energy have made traditional power plants less profitable. As a result, the company had to close down power plants and write down assets worth billions of dollars over the past years.

The company's management has said it plans to reduce the company's exposure to energy prices by focusing on services and regulated businesses in which long-term contracts ensure stable profitability.

Engie will sell assets worth EUR15 billion and invest EUR22 billion between 2016 and 2018 to bring its share of earnings before interest, taxes, depreciation and amortization from contracted and regulated activities to 85% from 50% at the end of 2015.



Write to Inti Landauro at [e-mail]



(END) Dow Jones Newswires

July 28, 2016 13:03 ET (17:03 GMT)

[waldron] 02/8/2016 18:53

Sur les 5 derniers jours, le titre s'est effondré de 4.1%. Depuis le début de l'année, il est en baisse de 11.79%.



Du point de vue de l'analyse technique : le RSI est supérieur à sa zone de neutralité des 50. Le MACD est inférieur à sa ligne de signal et positif. Le (Taiwan OTC: 8490.TWO - actualité) titre pourrait corriger à court terme. Enfin, le titre est supérieur à sa moyenne mobile 50 jours.
A noter que les volumes sont en baisse depuis quelques jours.



Graphiquement : les niveaux de résistances se situent sur : 15.8 puis 16.2. Tandis que les prochains supports sont sur : 14.1 puis 13.8.



Notre préférence : Achetez ENGIE (ENGI) tant que 13.8 est support.



Le point d'invalidation de notre scénario est situé sur : 13.8.
Cours de référence : 14.4.

Copyright 1999 - 2016 TRADING CENTRAL

[waldron] 02/8/2016 18:53

good luck with your buy john ross

closing share price 14.25 EUROS

i feel it could fall further if you wait

BIG BOX 12.50 EUROS to 17 euros

ex divi september me thinks

ALSO CONSIDER THE CURRENCY IMPACT

BOE DISCISION THURSDAY COULD MAKE A SUBSTANTIAL
IMPACT ON STERLING

[waldron] 02/8/2016 18:45

ENGIE and GE strengthen partnership in digital technologies

GE and ENGIE signed a memorandum of understanding (MoU) to conduct innovative initiatives and jointly review digital solutions, in particular to optimise the performance of the electricity generation assets of ENGIE, one of the largest technology operators developed by GE in the world.

This partnership features collaboration between the world’s largest digital industrial group and a global energy player committed to be the leader in energy transition worldwide. GE has well-rounded experience in Internet industrial solutions and energy management software. The ENGIE Group brings its expertise in energy engineering, electricity generation and distribution, as well as in renewable energies and energy storage technologies.

For ENGIE, this agreement will facilitate, among others:

Improvements in the performance and reliability of electricity production assets and electricity grid management.
Collaboration in digital transformation (leadership programmes, design thinking, fast works, etc.).
Cooperation between ENGIE Digital Factory teams and those of the GE Digital Foundry.
Participation in GE’s electricity digitalisation network.

At the MoU signing, Judith Hartmann, Executive Vice-President of ENGIE, declared: “With this partnership, we are continuing the Group’s digital transformation. Thanks to GE’s expertise in the field, we will be able to accelerate the ramp-up of our Digital Factory and improve the management of our energy assets, thereby enhancing operational performance.”

“This partnership constitutes a key step for the energy industry in the digital era,” added Mark Hutchinson, Chairman and CEO of GE Europe. “Combining our expertise with ENGIE enables us to explore new digital solutions in very different areas and create value.”

Edited from press release by Harleigh Hobbs

Published on 01/08/2016

[john ross ewing] 02/8/2016 17:20

I'm going to buy a small amount tomorrow.

[waldron] 15/7/2016 15:51

France Unveils Carbon Tax Plans
by Ulrika Lomas, Tax-News.com, Brussels
15 July 2016
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The French Government has accepted a recommendation from an advisory panel that a carbon tax be imposed on electricity generation from coal-fired power plants starting next year.

The panel established by the Government in March to explore tax-based options for carbon reduction in France, being led by Engie SA Chairman Gerard Mestrallet, suggested the introduction of a minimum carbon price on coal based on the United Kingdom's climate change levy.

The proposal is much narrower in scope than the industry had been expecting, with coal now forming a tiny fraction of France's overall energy mix. The country's five coal-fired power plants accounted for less that two percent of total energy generation in 2015, with the vast majority of France's electricity demand satisfied with nuclear power.

French energy and environment minister Ségolène Royal said that restricting the new tax to coal would maximize its environmental benefit while securing France's energy supply.

The report's proposals are expected to be finalized by the end of July ready for inclusion in the next draft budget law, with the new levy on coal slated for introduction on January 1, 2017.

The report also called for the introduction of a minimum carbon price at European Union level of EUR20-30 (USD22-33) per tonne in 2020. This would rise by five to 10 percent annually until it reaches a ceiling of EUR50 per tonne. The Government estimates that this could generate revenues of almost EUR1bn per year for France, as against the EUR315m generated from the sale of EU emissions trading permits, which have slumped in price since 2008.
- See more at: hxxp://www.tax-news.com/news/France_Unveils_Carbon_Tax_Plans____71708.html#sthash.1rdf4K41.dpuf