Energy Magazine - August 2022 by Energy Digital

August 2022 | energydigital.com

Energy Companies Siemens takes AI to new heights SIEAERO uses AI and digital twin to inspect power lines

Enhancing digital technology grid connections Nokia urges utilities’ technology reach to cover local areas

Ecolution’s MARS technology harvests kinetic energy from transport FEATURING:

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The Energy Team EDITOR IN CHIEF

DOMINIC ELLIS CHIEF CONTENT OFFICER

SCOTT BIRCH

PRODUCTION DIRECTORS

GEORGIA ALLEN DANIELA KIANICKOVÁ PRODUCTION MANAGERS

PHILLINE VICENTE JANE ARNETA MARIA GONZALEZ

CREATIVE TEAM

OSCAR HATHAWAY SOPHIE-ANN PINNELL HECTOR PENROSE SAM HUBBARD MIMI GUNN JUSTIN SMITH REBEKAH BIRLESON JORDAN WOOD DANILO CARDOSO CALLUM HOOD CHIEF DESIGN DIRECTOR

MATTHEW JOHNSON

VIDEO PRODUCTION MANAGER

KIERAN WAITE

PROJECT DIRECTORS

BEN WIGGER LEWIS HAMMOND

DIGITAL VIDEO PRODUCERS

MARTA EUGENIO ERNEST DE NEVE DREW HARDMAN TOM EASTERFORD JINGXI WANG JOSEPH HANNA MARKETING DIRECTOR

JASON ANDIKA-SMITH MARKETING MANAGER

LAUREN TYE

MANAGING DIRECTOR

LEWIS VAUGHAN

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FOREWORD

Offshore energy embraces data and digital “Digital and data hold the key to generating efficiencies and spurring us towards net-zero goals”

ENERGY DIGITAL MAGAZINE IS PUBLISHED BY

It wasn’t that long ago that you’d have struggled to read offshore and digital in the same sentence – there was plenty of water between the energy and technology sectors. But, with the wind now firmly behind renewables and technology’s ever-growing importance, there has been a widespread commercial realisation of their interdependence. Digital and data hold the key to generating efficiencies and spurring us towards net-zero goals. The Offshore Energy Data Strategy Taskforce recently set out seven key recommendations that will enable the digitalisation of offshore energy – spanning oil, gas, and renewables – and create conditions for better data sharing and digitalisation initiatives. Essentially, it takes a more proactive approach to data sharing, but it’s important the commitment to collaboration grows. As such, every operator and supplier must embrace the recommendations and support cross-sector digitalisation. The future of the industry, and our economic and environmental prosperity, may very well depend on it.

DOMINIC ELLIS

dominic.ellis@bizclikmedia.com

energydigital.com

CONTENTS

Our Regular Upfront Section: 10 Big Picture 12 The Brief 14 Timeline: bp buys stake in Asian Renewable Energy Hub 16 Trailblazer: Alexis Glick 20 Five Minutes With: Stuart Murray

NAES Corporation

Connected Energy

Transforming NAES with well thought out tech and strategy

Enhancing digital technology grid connections

IoT

Smart Cities

Sieaero uses AI and digital twin to inspect power lines

52 Cyber Security

Energy on the frontline of cyber attacks

Powering renewables through urban transport

68 Xxxxx

Top 10 Xxxx Xxxx Xxxx Xxxx Energy companies Xxxx Xxxx Xxxx

DISCOVER & SUBSCRIBE

A BizClik Brand

CTOBER 202

THE FUTURE OF ELECTRIC VEHICLES DISCOVER & SUBSCRIBE

W AT C H T H E I D E N T

BIG PICTURE LyondellBasell

August 2022

LyondellBasell signs two US renewable agreements Texas, USA LyondellBasell has signed its first two US PPAs as it aims to procure a minimum of 50% of electricity from renewable sources by 2030. Drilling and racking pile installations are underway for solar panel mounting systems at Buckeye Files in Hill County, Texas (pictured). energydigital.com

THE BRIEF “POWER UTILITIES NEED TO DIGITALISE, AUTOMATE AND EXTEND COMMUNICATIONS FURTHER OUT IN THE GRID”

BY THE NUMBERS Ofgem is to invest £20.9bn upgrading the UK's electricity grid

David Christopher

Head of Utility Solutions Marketing, Nokia  READ MORE

“MANY COMPANIES ARE STILL STRUGGLING TO GET DIGITALISATION OFF THE GROUND TO DELIVER BOTH VALUE AND SCALE” Paul Newman

President, Petrogenium USA  READ MORE

“THE NAME OF THE GAME IS OVERSIGHT, EFFICIENCY, AND SECURITY WHEN IT COMES TO SMART METERING” Dimitrios Pavlakis

Senior IoT Cybersecurity Analyst, ABI Research  READ MORE

Poland and Germany best placed for gas-to-coal switch Poland and Germany are best positioned for the 'gas-tocoal' switch as Europe cuts its dependency on Russian gas, according to a report by ING’s macroeconomics team. READ MORE

Shell, Accenture and Amex GBT launch blockchain SAF project Shell, Accenture, and American Express Global Business Travel (Amex GBT) are launching Avelia, one of the world’s first blockchain digital sustainable aviation fuel (SAF) solutions for business travel. READ MORE

Digitalisation of offshore energy The Offshore Energy Data Strategy Taskforce has set out seven key recommendations that will enable the digitalisation of offshore energy. READ MORE

August 2022

Centrica and Equinor sign major UK gas deal Centrica and Equinor have signed an agreement to deliver an additional 1bn cubic metres (bcm) of gas supplies to the UK for each of the next three winters. Why is it significant? Given the energy supply crisis, Ukraine conflict and macroeconomic uncertainty, the deal provides energy security to the UK. The new gas supply agreement will see Equinor deliver sufficient gas to Centrica over the coming three winters to heat an additional 4.5mn homes. What are the details and how does it affect Scandinavian relations? Centrica will now buy a total of 10bcm of gas per year from Equinor, a material part of the UK’s typical yearly gas demand. With Britain currently importing around a third of its gas requirements from Norway, the announcement underlines the strategic importance of the Norwegian relationship to UK energy security. Aren’t we supposed to be weaning ourselves off gas and developing more renewables? While the UK continues to ramp up renewables and develop nuclear energy to boost its energy independence, the reality is that it will still need natural gas for many decades to come. “We cannot, and will not, turn off the taps overnight,” said Business Secretary Kwasi Kwarteng. What is Equinor doing on the renewables front? Equinor and its partners Petoro, TotalEnergies, Shell and ConocoPhillips in the Troll and Oseberg fields, are looking into possible options for building a floating offshore wind farm in the Troll area, around 65km west of Bergen.

 AXA

INVESTMENT MANAGERS AND GREENSTRUXURE

AXA Investment Managers is investing $15mn in Greenstruxure, the energy supply and services company that aims to deliver zerocarbon digital energy.  CONNECTED

ENERGY

Connected Energy is set to scale up in the utilities sector after securing £15mn from five investors.

W I N N E R S AUG22

 REAL ESTATE

SECTOR

Real estate, construction and hotels are the sectors most impacted by energy mis-selling when undisclosed commissions inflate the overall energy spend for clients, according to Business Energy Claims.  ITM POWER Hydrogen power business ITM Power recorded a £36.5mn loss in the year to April 30 as it ramped up production capacity.

L O S E R S energydigital.com

TIMELINE buys stake in

Asian Renewable Energy Hub 2014 AREH project first proposed AREH, located in Pilbara, Western Australia, plans to develop onshore wind (7.5GW) and solar power (3.5GW) generation in multiple phases, providing a total generating capacity of up to 26GW.

August 2022

2018 Lead Agency Status granted The McGowan Government granted the project Lead Agency Status in 2018 and an exclusive licence to collect resource data, working closely with Intercontinental Energy and bp.

bp has bought a 40.5% equity stake in the Asian Renewable Energy Hub (AREH), which has the potential to be one of the largest renewables and green hydrogen hubs in the world. The oil major has been operating in Australia for over 100 years.

2022 bp buys 40.5% stake

2022 Australia government invests AD$70mn at Kwinana In April 2022, the Australian Government announced up to AU$70mn funding for a green hydrogen hub at bp’s Kwinana site in Western Australia.

As of 1 July 2022, bp controls a 40.5% stake in and is operating the AREH project. The multi-billion-dollar investment will produce around 1.6mn tonnes of green hydrogen at full capacity.

2050 bp targets net zero bp has set an ambition to become a net-zero company “by 2050 or sooner”.

energydigital.com

TRAILBLAZER

SEASONED FINANCE AND ESG THOUGHT LEADER TO DRIVE NATURE ENERGY’S NORTH AMERICA EXPANSION Name: Alexis Glick Job Title: CEO North America Company: Nature Energy Alexis Glick, a seasoned finance executive and ESG thought leader, has been appointed CEO of Nature Energy’s North America business, effective immediately. Glick will help drive the company’s US and Canada expansion, as well as advance a robust pipeline of greenfield biomethane projects across both countries. Glick brings to Nature Energy nearly three decades of success in building businesses and leading teams at major financial, media and philanthropic organisations. Most recently, she served as CEO of GENYOUth, where she built and led the largest public-private partnership in support of the health and wellbeing of 40 million American students with the National Football League, America's dairy farmers, Fortune 500 companies and multiple federal agencies. In this role, Glick raised US$200mn to help support healthier school communities and helped tackle the sustainability of the United States' food supply to some of the most food insecure populations. 16

August 2022

energydigital.com

TRAILBLAZER

Prior to GENYOUth, she helped launch, build and lead one of the largest cable news networks in history, Fox Business, and was the first woman to run a bulge bracket investment banking business during her tenure at Morgan Stanley. Glick is a nationally recognised expert on the economy and a former National Correspondent for NBC News' Today Show. Ole Hvelplund, President and CEO of Nature Energy, said the addition of Glick to its senior management team brings an extraordinary mix of operations, technology transformation and management experience to advance the company’s 18

August 2022

goal of leading the Biogas 2.0 movement and enhancing a circular economy for sustainable agriculture. “Leveraging her existing connections and relationships with public and private leaders at the highest level, Alexis will lead our North American expansion while educating policy makers, farmers and customers in the US and Canada on the benefits of biomethane,” he said. “We are excited about our collective development pipeline and the opportunities ahead to increase adoption of biomethane as a renewable power source that advances the global energy transition."

“ ALEXIS WILL LEAD OUR NORTH AMERICAN EXPANSION WHILE EDUCATING POLICY MAKERS, FARMERS AND CUSTOMERS IN THE US AND CANADA ON THE BENEFITS OF BIOMETHANE” OLE HVELPLUND

PRESIDENT & CEO, NATURE ENERGY

Glick is excited to join the Nature Energy team and lead its North American growth strategy at a time when the global opportunity for biogas and renewable energy has never been stronger. “Our ability to apply our know-how and first-in-class technology at scale – to help drive measurable impact and solve the greatest energy and climate challenges of our time – couldn't be more important,” she said. “I have been to Denmark to see first-hand what Ole and Nature Energy have done to change the energy landscape in Europe. It's nothing short of extraordinary, and I am excited to help replicate that growth and success in North America.” energydigital.com

FIVE MINUTES WITH...

STUART MURR AY THE FOUNDER & INVENTOR OF TPGEN24 REFLECTS ON THE IMPACT OF MARKET CHANGES AND GEOPOLITICAL CHALLENGES ON THE TIDAL SECTOR

The ongoing Russia-Ukraine War has thrown a stark spotlight on European energy security, particularly the UK’s own lacklustre energy security strategy. Only launched in spring 2022, it’s already in dire need of some serious amends and enhancements, especially regarding its approach to the energy mix, according to TPGen24's Founder and Inventor Stuart Murray.

WHERE IS THE UK WITH RENEWABLES?

An average of only 40% of the UK’s energy comes from renewables, putting us a long way off achieving our Net Zero 2050 targets, let alone meeting the surging societal demand for electricity. Furthermore, none of the active sustainable resources within our current infrastructure are able to deliver 100% clean base load.

WHAT ARE THE BIGGEST CHALLENGES?

Essentially, base load represents the minimum amount of electricity required to keep the lights on during peak demand. However, the operational intermittency of the most prolific and popular renewables, wind and solar, due to their reliance on exact meteorological conditions, mean we are still reliant on fossil fuels to plug the generation gaps when the weather is not favourable. This represents a massive weakness, and, until it’s resolved, we will be at the mercy of gas, coal and expensive imports from pariah nations. 20

August 2022

“T HE UK HAS SOME OF THE BEST TIDAL RANGES GLOBALLY” WHAT IS THE APPEAL OF TIDAL POWER?

Fundamentally, it’s the only true renewable that could be harnessed to provide 24/7 base load. Unlike wind and solar, tidal is not an intermittent power source, as our seas provide continuous force due the tide’s rise and fall. The UK has some of the best tidal ranges, globally. Our latest calculations show that a turbine-stacked, sluiced, hybrid multi-lagoon and tank system positioned in the best tidal ranges can generate green energy 24/7, 365 days a year – enough to power millions of homes and electric vehicles, delivering on our overarching goal.

WHAT ARE THE DRAWBACKS TO TIDAL?

As with all things, there are caveats attached to tidal energy such as a high cost. For the naysayers, I first implore you to consider the alternatives before making a final judgement call. The delayed £23bn Hinkley Point C nuclear power station is a prime example of how a tried-and-tested system can come at a high price. Three large tidal Power Islands could supply a similar amount of energy, potentially at a lower cost, minus the problematic waste management. The construction of tidal power plants could also provide socioeconomic benefits through opportunities for workers and businesses across the country. energydigital.com

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August 2022

TRANSFORMING NAES WITH WELL THOUGHT OUT TECH AND STRATEGY WRITTEN BY: CATHERINE GRAY

PRODUCED BY: TOM VENTURO energydigital.com

NAES CORPORATION

NAES’ VP of IT and Digitisation, Mark Holtermann, outlines how the company is responding to the changing technological landscape in the energy sector

ransforming our lives in ways we wouldn’t have thought possible decades ago, digital technologies are driving forward business and improving our daily lives. The energy sector is going through an unprecedented era of digital transformation as the industry looks for new ways to improve efficiency and safety – with technology being crucial in the bid to tackle climate change and facilitate the push for renewable energy. Keen to be part of this transition to the digitally-empowered energy sector, NAES Corporation is dedicated to optimising the performance of energy facilities across the power generation landscape. “NAES is quite diversified,” says Mark Holtermann, Vice President, IT and Digitisation at NAES. “There are three primary industries we operate in: energy, construction and fabrication. We offer a variety of services including operating and maintaining over 200 power plants across the US as well as Mexico, and even in the UK. It’s over 100,000MW of power that we are essentially managing for other owners. Those plants could be utilities, private owners, or consolidated groups of owners. “We provide operations and maintenance services, asset management, grid management, compliance, fleet services, consulting services in the energy space, along with a list of other services.

August 2022

energydigital.com

NAES CORPORATION

Mark Holtermann, Vice President of IT and Digitisation, NAES

“On the construction fabrication side, we serve in the energy space, and we also do traditional build services across all industries, as well as specialised large, complex fabrication services. We have built all the components that go into hydro energy and very large facilities. We've been part of building million-square-foot facilities for Amazon,” he continues. While it looks at different merger and acquisition opportunities, the company remains focused on growth. With years of rapid growth under its belt, NAES has been looking to technology to further catalyse this growth and improve its operations, despite stumbling across challenges associated with technology and its ability to run at the pace of business growth. According to the IDC, there are 33Zb of data in the world; this is projected to grow to 175Zb by 2025. A whopping 90% of that data was created in the last 2 years and, by 2025, 80% of it will be unstructured. 28

August 2022

“ THERE'S LOTS AND LOTS OF OPPORTUNITY FOR TRADITIONAL AUTOMATION, AS WELL AS LEVERAGING AI AND ADVANCED ANALYTICS TO BE ABLE TO PUT SOME CORE ALGORITHMS TOGETHER THAT WILL HELP US IDENTIFY TRENDS” MARK HOLTERMANN

ICE PRESIDENT, IT & DIGITISATION, V NAES CORPORATION

NAES CORPORATION

The availability of data is transforming how the energy sector works. These vast data lakes render information more accessible and algorithms much smarter. Motivated by this, NAES is undergoing a period of intense digital transformation that impacts all aspects of the business. “Our cloud-first mindset has made very significant progress in moving most of our services, as well as applications and core infrastructure, to the cloud. We're about 90% there. So that's very significant. It's enabled us to be able to scale, be flexible and have that seamless authentication for users anytime, anywhere,” Holtermann explains. “That 10% remains the challenge, and we have some IT modernisation efforts – such as our ERP implementation – that will help us progress further. We’re looking forward to that and continuously advancing our cyber programme. Thankfully we've got a great foundation and we're continuing to advance that.” “With this cloud-first migration, we have simplified our operations heavily, not only in the IT space, but also in how we're able to operate as a business,” he adds. “We're more nimble for things like mergers and acquisitions.”

TITLE: V ICE PRESIDENT, IT & DIGITISATION INDUSTRY: ENERGY FACILITIES LOCATION: WASHINGTON, USA Mark is an executive leader with 30+ years of global business transformation experience spanning multiple industries (Transportation, Distribution & Logistics, Energy & Utilities, Construction, Consumer Products, Manufacturing, Public Sector, e-Commerce) ranging from start-ups to sub-$1B to $20B+ sized organisations. He has successfully led global teams in the hundreds coupled with budgets and portfolios summing over $100M. Mark is a strategic partner with a passion for identifying and delivering effective, value-based, innovative solutions. He leads with a spirit of collaboration, transparency, integrity, and he believes in levity. Mark is driven to create a ‘Digital Workplace’ coupled with a ‘Seamless Customer Experience’.

EXECUTIVE BIO

Incrementally implementing NAES’ ERP When implemented correctly, a solid ERP is essential to the future of the energy industry. It improves compatibility with third-party apps, training for new employees, risk management and simplifies big tasks. NAES is in the process of implementing its own ERP, but is doing this incrementally to ensure its reliability and effectiveness. “We are about two-thirds of the way through our ERP implementation. We have clearly defined how we are going to do it; it's designed and all is being configured,”

MARK HOLTERMANN

NAES CORPORATION

Holtermann outlines. “It's going to bring together numerous disjointed processes and automate a lot of them, improve our quality, and give us better access to data in a more consistent way, reducing many manual challenges that we have today. It will then poise us for the integration of other entities.” As the company looks for new avenues for growth, it understands the power of data when it comes to obtaining customers and extending contracts with existing ones. “All of the insights or data that we collect about customers help us to consider what to target next to meet the needs of the customers,” notes the VP. “We've revamped and redesigned a lot of the data reporting that we have. Now, we are focusing on data insights and advanced analytics, looking at those tools, improving

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August 2022

1980

Year founded

4,000 + Number of employees

5,546 +

Renewable MW operated

96,000 + Conventional MW operated

1,357 + Generation resources

1,000 + Construction projects

“ WE ARE ABOUT TWO-THIRDS OF THE WAY THROUGH OUR ERP IMPLEMENTATION. WE HAVE CLEARLY DEFINED HOW WE ARE GOING TO DO IT, IT'S DESIGNED AND ALL IS BEING CONFIGURED” MARK HOLTERMANN

VICE PRESIDENT, IT & DIGITISATION, NAES CORPORATION

the quality of the data that we have flowing through as well as improving how we report the data to provide insights. That predictability aspect is what we are looking to focus on now; next, we’ll look to be more prescriptive with data.”

Due to the nature of the business, Holtermann explains how there are lots of opportunities to reduce costs through the implementation of technologies. The service-based business can reduce the number of manual processes through new automation opportunities that will increase efficiency and contribute to reducing overall cost to serve, while ultimately providing better insights and information to support its modernisation. energydigital.com

NAES CORPORATION

“ WITH THIS CLOUDFIRST MIGRATION, WE HAVE SIMPLIFIED OUR OPERATIONS HEAVILY, NOT ONLY JUST IN THE IT SPACE BUT ALSO IN HOW WE'RE ABLE TO OPERATE AS A BUSINESS” MARK HOLTERMANN

ICE PRESIDENT, IT & DIGITISATION, V NAES CORPORATION

Holtermann adds to this: “We are at the beginning of our AI and automation journey here; however, the positive side is that we have a tremendous amount of opportunity. There are a lot of manual processes, disjointed processes and disconnected technologies that we can bring together with simple tools like RPA, and then we can go to the next step by applying some advanced tools like AI machine learning to make that intelligent automation. “We're forming a business hyperautomation strategy – or what I call a centre of excellence – and have recruited a lead for that. We're in the process of gathering use cases right now, so we'll look to prioritise those and, of course, look at some low hanging fruit, get some traction in automation and then see where we can have the most benefit. “There's lots and lots of opportunity for traditional automation, as well as leveraging AI and advanced analytics to be able to put 32

August 2022

some core algorithms together that will help us identify trends, in terms of where we need to maintain equipment and take certain action in the construction space. So we are looking forward to more of that,” he continues. Additionally, the company is looking to bolster its cyber security infrastructure as another element to its digital transformation journey. When NAES runs a plant for its customer, it is dedicated to offering a comprehensive cyber solution to protect its customers.

NAES Safe 10 Core Elements

energydigital.com

NAES CORPORATION

“We want to be able to provide security services to them to make sure that things are run in a protected way. They're usually owned by someone outside of NAES, and we run the facility. With our operation, we offer a high-class safety culture and make sure those practices are embedded in how we operate; we look to be the same in a cyber-secure way,” says Holtermann. Entisys360: supporting NAES through its transformation Key to this journey is Entisys360, an award-winning IT consultancy specialising in the deployment and delivery of 34

August 2022

advanced IT infrastructure, virtualisation and cloud solutions. Though Entisys360 partnered with NAES before Holtermann joined the company in September 2021, the executive had only heard good things about the partnership prior to his appointment: “Coming into the NAES team, I was hearing good feedback about Entisys360. They came in and helped as we began our cloud migration – which started before my time – and laid it all out with the team. “It was an investment they made in working with us, providing that thought leadership and then helping us execute on

NAES CORPORATION

strategy. As we're marching forward, I've been meeting with them and trying to see where they can play a part in that puzzle, as well as where we need to partner with others.” Now, dedicated to pushing forward with its ERP and digital transformation strategy, Holtermann explains that NAES is in a good position, as the company receives support from Entisys360 and other partner companies to grow its technological capabilities. “The continued ERP implementation is key to the coming months; it’s something that we’re looking to in the very near-term to get it over the finishing line. Immediately following that, there'll be a little bit of a bumpy ride through adoption and stabilisation of that system. “That's going to give us a big leap forward in our overall modernisation efforts. Additionally, regarding infrastructure and networking modernisation, we're continuing to move more and more components to the cloud. We've been out there migrating from the traditional local file shares and on-premise based technologies to the cloud, and we'll continue that in the future,” he says.

“ THE CONTINUED ERP IMPLEMENTATION IS KEY TO THE COMING MONTHS; IT IS SOMETHING THAT WE ARE LOOKING TO IN THE VERY NEAR-TERM TO GET IT OVER THE FINISHING LINE” MARK HOLTERMANN

VICE PRESIDENT, IT & DIGITISATION, NAES CORPORATION

Concluding, Holtermann outlines that NAES is still firmly focused on its digital transformation: “We're advancing our cybersecurity programme quite a bit – we are primarily a Microsoft shop, so we have access, through our licencing, to most of their security offerings, and we are expanding our use of those to obtain more process-oriented elements around cyber; likewise, we are strengthening our incident management, performing tabletop exercises and continuously advancing our cyber security awareness training. “A key focus that we’re presently involved with and see a lot more coming in future is data insights and advanced analytics. This involves a shift in mindset, moving from the ‘what happened’ to more of the ‘why did it happen’. We want to adopt that diagnostic type of thinking with predictive analytics and see how we can make it happen with prescriptive type analytics.”

energydigital.com

CONNECTED ENERGY

August 2022

ENH

HANCING DIGITAL TECHNOLOGY GRID CONNECTIONS Digitalisation is transforming green energy connectivity but utilities must ensure their technology reach covers local opportunities, advises Nokia WRITTEN BY: DOMINIC ELLIS

enewable energy is on the cusp of transformational change, receiving generous investments and incentives from governments, regulatory bodies and the private sector. A key initiative that is set to revolutionise the industry further is the drive towards digital connectivity. “Power utilities have a significant role in a country’s ability to achieve their net-zero emissions’ target,” said David Christophe, Head of Utility Solutions Marketing at Nokia. “To successfully integrate growing amounts of distributed renewable generation and storage while maintaining power quality, reliability and a reasonable price, power utilities need to digitalise, automate and extend communications further out in the grid.” energydigital.com

CONNECTED ENERGY

“ Mission-critical broadband wireless connectivity becomes essential and is a major reason why forward-thinking utilities are looking to LTE/5G for robust connectivity” KEN BUDKA

SENIOR PARTNER BELL LABS CONSULTING

The benefits offered by high-speed broadband are numerous, according to Nokia. Energy providers can deploy more efficient, reliable and sustainable infrastructure, and adapt to changing environmental conditions like wind speed and sunlight. They can reduce downtime by introducing intuitive sensors and automation to boost forecasting and predictive maintenance. On the customer side, such systems can monitor consumption and regulate the flow of electricity, creating time and demand-based power supply. It would also facilitate charging schedules; help store energy and minimise wastage.

From modern connectivity solutions offered by private wireless (4.9G/LTE and 5G) to AI/ML, IoT, cloud computing, robotics, augmented and virtual reality, and big data analytics, the latest digital innovations are helping to significantly speed up the drive towards decarbonisation. The importance of mission-critical private wireless technology Efforts to develop and expand renewable energy penetration have accelerated at a frantic pace but the industry still has plenty of ground to cover. One of the most notable areas that needs attention is the handling of data and communications. energydigital.com

CONNECTED ENERGY

Empowering grids for the new energy future

“Today, utilities tend to have good communications connectivity to their mid-to-large substations. Much of the renewable energy expansion, however, is happening today in places where utilities have limited or no connectivity. This is a challenge since the energy sources themselves must be monitored and controlled,” says Dominique Verhulst, Global Head of the utilities vertical at Nokia. A robust and capable communications network allows for the smooth relay of large amounts of data, better voice and video communications and deployment of IoT-based predictive maintenance. It also allows workers to operate efficiently and safely during construction and operation, especially at remote and dangerous locations like offshore wind farms. 40

August 2022

“ Power utilities need to digitalise, automate and extend communications further out in the grid” DAVID CHRISTOPHE

HEAD OF UTILITY SOLUTIONS MARKETING, NOKIA

Long Term Evolution (LTE) is a key 4G technology that has been part of public mobile networks for a while. The proliferation of licensed wireless spectrum has made it possible for private networks such as LTE (4.9G) and 5G to play a major role in boosting communications. Industrial-grade private wireless can provide renewable energy providers with a network that is all-pervasive, independent, self-contained and secure.

CONNECTED ENERGY

“Running fibre everywhere is way too slow and expensive. This is where mission-critical broadband wireless connectivity becomes essential and is a major reason why forwardthinking utilities are looking to LTE/5G for robust connectivity,” says Ken Budka, Senior Partner at Bell Labs Consulting. “Once you have wireless connectivity, you can connect to renewable energy sources and storage, and put additional monitoring and control devices wherever needed in a matter of hours, rather than years. This is a gamechanger in grid operations,” he adds. Expanding the digital technology scope Currently, many wind farms are fitted with fibre, which supports Supervisory Control and Data Acquisitions (SCADA) connectivity for remote monitoring and control. For a cost-effective solution with a broader scope, private LTE (4.9G) networks can enhance offshore connectivity and meet the needs of secluded locations more efficiently, integrating with a network of sensors, cameras, cloud storage and analytics technology for remote maintenance and control. Private LTE can enable a comprehensive IoT system that will connect both onshore and offshore personnel. It enables the installation of sensors at wind turbines to monitor temperature, vibrations, humidity and air current. Such data is critical to track the integrity of the turbine and prevent damage. In situations where further visual inspection is needed, Unmanned Aerial Vehicles (UAVs) can be pressed into service. A drone networks solution will be able to connect and control a fleet of UAVs using private LTE. The machines would then provide high-definition video footage in real time.

SP Energy Networks starts work on £5.5mn Scotland electricity substation SP Energy Networks has started construction of a new £5.5mn substation in Dunfermline – Scotland’s newest city – which will support its new, all-electric Learning Campus as well as new housing developments. The investment comes from Ofgem’s Green Recovery Fund. It supports green projects that are driving the nation towards net zero emissions targets by enabling investments in major infrastructure to strengthen the network for an all-electric future. The substation, located near Halbeath Retail Park, will be the first of this scale in Fife for more than 20 years and will support the new Dunfermline Learning Campus being developed by Fife Council and Fife College. The campus will provide state-of-the-art facilities for St Columba’s RC High School, Woodmill High School and Fife College.

energydigital.com

CONNECTED ENERGY

“ Utilities tend to have good communications connectivity to their mid-to-large substations. Much of the renewable energy expansion, however, is happening in places where utilities have limited or no connectivity” DOMINIQUE VERHULST

GLOBAL HEAD OF THE UTILITIES, NOKIA

Another emerging trend that has farreaching implications for renewables are microgrids. By virtue of them being localised, microgrids operate independently from the traditional grid. They offer flexibility and efficiency, especially when it comes to distributed energy resources such as solar. Since microgrids can operate during outages, it reinforces grid resilience and helps mitigate disturbances. Utilities operating water distribution systems can also use private wireless networks to connect their sensors and metres to that of the power utility. On average between 20 to 30 percent of drinking water is lost due to leakage which is undetected for the most part. The IEA has calculated that, in 2022, about one TerraWatt hour (TWh) of energy is used globally to produce drinking water. With the effective utilisation of IoT in detecting and preventing leaks, this means over 300GWh can be saved annually. 42

August 2022

CONNECTED ENERGY

energydigital.com

IOT

SIEAERO USES AI AND DIGITAL TWIN TO INSP POWER LINES

August 2022

D PECT

IOT

Siemens Energy's new

helicopter high-voltage inspection service uses AI to drive operational and environmental efficiencies

WRITTEN BY: DOMINIC ELLIS

erman grid operators Schleswig Holstein Netz and Bayernwerk Netz have commissioned Siemens Energy to inspect almost 4,000km of high-voltage overhead lines. The inspection involves a helicopter equipped with a high-tech multi-sensor system using the 'SIEAERO' service concept. Developed by Siemens Energy, the system collects all the necessary data during the flight, which can later be evaluated with the help of AI and analysed by other software tools. In the near future, this kind of holistic inspection of overhead power lines can also be performed with large drones. For the inspection, Siemens Energy attaches SIEAERO's multi-sensor system to the underside of a helicopter. Equipped with 19 cameras and state-of-the-art 3D laser scanning sensors, it then captures all relevant inspection data in a single flight over the power line, resulting in up to 12,000 images and detailed 3D data per kilometre of power line. The SIEAERO’s software can evaluate the images in just a few hours, whereas a human would need a few days. The AI was previously trained with over two million images of European and North American grids to automatically detect faults in the images. energydigital.com

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IOT

“ The high data quality makes us more precise and more cost-efficient, and it also allows us to conduct the inspection more safely” MILENA RAMOS SUBIRES

VP TRANSMISSION SERVICE, SIEMENS ENERGY

“The use of artificial intelligence is an important advance in the inspection of power lines,” says Milena Ramos Subires, Vice President Transmission Service at Siemens Energy. “The high data quality makes us more precise and more cost-efficient, and it also allows us to conduct the inspection more safely. What’s more, with conventional measurement and inspection techniques, the lines would have to be flown over several times to get the same results.”

Each flight saves 74 tonnes of CO2 emissions. “This is another way that we’re making an important contribution to the environment, while supporting our customers to maximise the reliability of the transmission grids,” she adds. From data mountain to digital twin Every kilometre of line flown generates 300GB of data. The SIEAERO system uses this data to create a digital twin – a highly accurate image of the network infrastructure being inspected, including poles, lines, terrain, and vegetation. With the digital twin, network operators can simulate extreme events like a tree falling on a line and causing it to fail and take the appropriate preventive measures. To guarantee a continuous power supply during energydigital.com

IOT

LG Energy Solution plans smart factories from new AI Advisory Council LG Energy Solution’s (LGES) Advisory Council on Artificial Intelligence joins forces with leading scholars specialising in AI technology, and is expected to play a major role in LGES’ digital transformation and the establishment of a manufacturing intelligence platform. The newly-formed council will set visions and business directions to enhance the company’s digital transformation, as well as build the technological partnerships required to realise these ambitions. The council comprises: Big Data/AI; AI systems; AI algorithms; Robot mechanics & Computer Vision; and Advanced Process Control and Process Optimisation. “LG Energy Solution is consistently executing several projects for digital innovation that maximises both the efficiency and precision of its manufacturing processes,” said Youngsoo Kwon, CEO of LG Energy Solution. “With the Advisory Council, we will expedite the promotion of manufacturing intelligence, as well as the establishment of smart factories.”

August 2022

the energy transition, the power grids need to be expanded. With comprehensive 3D models of the grid, the necessary expansion and modification measures can be planned and implemented more quickly. Drones’ potential takes flight In a not-too-distant future, drones could replace helicopters, significantly simplifying and improving the inspection of power lines. In fact, Siemens Energy has already successfully performed several test flights with a SIEAERO system-equipped drone. Using a drone has a number of advantages: it’s more environmentally friendly and quieter than a helicopter, and critical locations could be approached

Smart aerial powerline inspection

in a more targeted manner. Currently, however, most countries still prohibit the use of unmanned aerial vehicles beyond the visual range. PANEL: Flutura Business Solutions signs multi-year deal with Petrogenium USA Flutura Business Solutions, a Houstonbased industrial IoT intelligence provider, has announced a multi-year agreement with Petrogenium USA, a leading energy consultancy, to deliver fully integrated and digitalised projects, products and services. This agreement combines the unique expertise of Petrogenium, which boasts over 300 years of collective oil and gas expertise, with Flutura's next-gen subject matter expertise in energy sector digitalisation.

“Flutura offers a blueprint for a digitalisation future for our customers, working from the equipment to the process and then the system level,” said Paul Newman, President of Petrogenium USA. “Many companies are still struggling to get digitalisation off the ground to deliver both value and scale. Petrogenium with Futura can deliver deep engineering and domain expertise, combining operational knowledge with Flutura’s grounding in economics and data science.” Flutura, an energy AI company scaling customers into the digital age, powers large scale operational transformation using its industry pioneering Cerebra Cognitive Digital Twin solution. energydigital.com

IOT

August 2022

IOT

“ With the current focus on how to operationalise the energy transition, the industry is at an inflection point” SRIKANTH MURALIDHARA CO-FOUNDER & CCO, FLUTURA

Its Cerebra Portfolio of Industrial AI solutions, ranked first by customers in the industry gold standard, Gartner's Voice of Customer research, leverages deep verticalised AI/ML capabilities to impact operational efficiency improvements and system reliability to support organisations through their digitalization and Energy Transition journeys. Srikanth Muralidhara, Flutura’s co-founder & Chief Customer Officer, said that, with its deep subject matter expertise in process excellence and first-quartile refinery performance, Petrogenium is an excellent partner to transform digitisation efforts in the energy industry. “Our combined expertise can support energy and manufacturing companies unlock significant value from their current operation,” he said. “With the current focus on how to operationalise the energy transition, the industry is at an inflection point. This agreement will help the smooth transition during this period of rapid change and resilience.” energydigital.com

ENERGY ON FRONTLINE O CYBER AT TA

Amid geopolitical tensions, transition challenges and smart metering roll-outs, the energy industry needs to prioritise its cyber security strategies 52

August 2022

CYBER SECURITY

THE OF ACKS WRITTEN BY: DOMINIC ELLIS

lobal cyber security spending in industrial critical infrastructure sectors (energy, transport, and water & waste management) is expected to hit $23bn by the end of 2022, according to ABI Research. So the good news is that cyber security is being taken seriously across the board. The bad news is that energy will be the most affected industry in future, the report states. The current armed conflict between Russia and Ukraine is forcing Western countries to wean themselves off oil and gas, and accelerate the transition to more sustainable energy – a plan that had already existed on their climate change agendas, albeit with a much longer phase-out timescale. energydigital.com Magazine.com

CYBER SECURITY

This is set to directly impact cyber security, both in oil and gas initially within the context of the war, and in securing the energy transition and new modes of electricity generation. A survey from Trend Micro among electricity and oil and gas firms also underlined the scale of the threats. It found 89% of electricity and 88% of oil and gas suppliers experienced cyber incidents that affected their supply over a year. ICS/OT disruptions that lasted four or more days were prevalent in 56% of electricity companies and 65% of oil and gas firms. The average financial damage to both sectors was around $3.38mn. Only about 40% of organisations have regularly reviewed and adapted to risks either in IT or OT, and about half of the respondents did not take enough action to improve after experiencing a cyber incident, it reports. “While IT and OT are inseparable, the current maturity level of cyber security varies widely from organisation to organisation,” it concluded. The current top driver to strengthen cyber security is preventing recurrence of incidents (30%), followed by requests from business partners/clients/customers (29%) and implementing a cloud system (27%).

“ The name of the game is oversight, efficiency, and security when it comes to smart metering” DIMITRIOS PAVLAKIS SENIOR IOT CYBER SECURITY ANALYST, ABI RESEARCH

OVO Energy selects Noetic Cyber Noetic Cyber, an innovator in Continuous Cyber security Asset and Controls Management, based in London and Boston, has been selected by OVO Energy as a solution partner to help them achieve greater visibility and insights into their current cybersecurity posture. OVO is deploying the Noetic platform to gain better context and understanding of their cyber risk. OVO Energy is the UK's third largest energy supplier, and has adopted a cloud first approach, enabled by implementing a culture of technical autonomy, where teams at OVO select the cloud platforms and services best suited for their specific needs. This means OVO's security team needs an automated way to understand their cyber security landscape across a diverse range of cloud platforms, including SaaS applications and on-premises systems.

energydigital.com

Geopolitics and the Future of 5G

For electricity suppliers, most respondents said that they will protect their systems because of cloud systems (30%) and private 5G implementation (23%) over the next three years, while oil and gas respondents highlighted protecting their systems because of cloud systems (30%) and regulatory compliance (22%). Two key recommendations are listed. For organisations whose posture regarding cyber security is ad hoc and reactive in ICS/ OT, it is necessary to establish a system that can understand what happened in their ICS/ OT environment and analyse the cause of the incident. Proactive organisations that have regularly reviewed and updated IT and OT cyber security should plan their cyber security 56

August 2022

strategy assuming that cloud and 5G will be incorporated into their infrastructure. Smart metering and grid digitisation spur security focus Geopolitics and the energy transition do not paint the whole picture either – the ever-increasing focus on new technologies is also a primary cyber security issue. The move toward Advanced Metering Infrastructure (AMI) is becoming the quintessential driver for connected electricity metres, which are expected to reach an installed base of 1.3bn by 2027. This growth is prompting utilities and energy suppliers to revisit their digital security agendas and device management operations, ABI Research added.

CYBER SECURITY

Digitisation of traditional electricity grids and the modernisation of the ageing energy infrastructure is among the top concerns for operators and governments worldwide. Security for last-mile energy consumption applications was frequently overlooked. "However, the introduction of AMI, smart metering, and grid digitisation is steadily increasing spending for secure management services, assisting implementers to transition to IT (information technologies) and OT (operational technologies) security services and help tackle their primary objectives," explained Dimitrios Pavlakis, Senior IoT Cyber security Analyst at ABI Research.

These key objectives include streamlining consumer and commercial electricity usage, satisfying the need for increased industrial output, tackling the demand for real-time energy optimisation services, assisting with the introduction of renewable sources and decentralised energy and, in the grander picture, increasing the security threshold for their countries' critical infrastructure. “The name of the game is oversight, efficiency, and security when it comes to smart metering,” added Pavlakis. “The responsibilities for utilities and energy suppliers have increased significantly and they are treading into new potentially unfamiliar grounds.” He said utilities are attempting to align with governmental regulations, enable new supply energydigital.com

CYBER SECURITY

chain interactions with manufacturers to make sure device OEMs satisfy hardware and software security requirements for smart metres. “Additionally, the focus on regional grid management and the introduction of thousands or millions of smart metres prompts utilities to invest in their on-premises headend servers through Hardware Secure Modules (HSMs) and security management platforms to mitigate some of the long-term cost,” Pavlakis concludes. It states key players in the smart metering and smart grid market include Landys+Gyr (aided by their security arm Rhebo), HSM specialists like Utimaco, leading players for digital infrastructure, eSIMs and HSMs like Thales, IoT communication module and connectivity providers like Sierra Wireless and PKI, Certificate Authorities such as Device Authority and Globalsign, and OTORIO. W3 Energy and March team up over wind farms W3 Energy and the international insurance broker Marsh are initiating a strategic collaboration, with services aimed directly at owners of wind farms. "Together, we offer a good combination of risk analysis, IT security and insurance, which provides increased security for our customers," said Anders Orebrandt, Head of Renewable Energy Nordics at Marsh AB. Swedish W3 Energy is an independent technical manager responsible for both financial and operational operation of wind farms, with offices in Piteå, Skellefteå and Umeå. A portfolio of 1815 MW means that approximately 18 % of the renewable energy produced in Sweden is managed by W3 Energy, which also has extensive experience of cyber security at wind farms. 58

August 2022

“While IT and OT are inseparable, the current maturity level of cyber security varies widely from organisation to organisation” TREND MICRO REPORT

energydigital.com

SMART CITIES

Ecolution’s MARS technology harvests kinetic energy from moving train, cars and truck trailers to generate clean yet affordable electricity 60

August 2022

SMART CITIES

WRITTEN BY: DOMINIC ELLIS

he City of Amarillo in Texas has entered into a partnership with Ecolution Power Company, the greentech company that turns kinetic energy from trains and trailers into renewable electricity. The stored kinetic energy will power electric vehicles throughout the city’s fleet. Ecolution’s MARS technology enables the kinetic energy to be downloaded into a micro-grid at the train station, at buildings in the city, or placed directly into the central electric grid. MARS trailers and rail cars can store between 2.5–5MW of power and they are compatible with any truck of any type (including diesel and hydrogen). energydigital.com

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SMART CITIES

Ecolution Group Specialists in Installation and Maintenance of Renewable Technologies

According to the 2021 US Census, Amarillo has roughly 201,234 residents and the city is rapidly becoming a major transit focal point for rail and highway cargo, making it well suited as a centre for alternative power generation. The city has been working with Melissa Ashurst, the owner of Impact Broadband, on smart city initiatives. “The city is constantly exploring opportunities to use new technology that can enable us to offer new services or enhance efficiency,” said City of Amarillo Chief Information Officer Rich Gagnon. “As the world moves toward electric vehicles, the city is developing a strategy ahead of the change. It is important that we do the work now to be as efficient as possible with city resources.”

Amarillo is looking to explore multiple use cases that could greatly reduce cost of fuel and move the city to clean energy by using Ecolution’s patented kinetic energy technology. Amarillo's goal is to generate power to serve the citizens of the city every day. Ecolution Power Company will be supplying Amarillo with the technology for waste vehicles. By exploring the benefits of this technology it will allow Amarillo to become more efficient and be able to service its people's needs. Last December the clean energy technology company signed an LOI to collaborate with Levo Mobility to help create the first smart city to achieve net-zero carbon emissions. energydigital.com

SMART CITIES

“ The European Mission is about bringing together departments, budgets, ministries, colleagues and those who don’t normally come together around the same table, bridge silos and sectors where combinations happen” DR. KIRSTEN DUNLOP CEO, EIT CLIMATE-KIC

Ecolution plans to deploy its patented Module Active Response System (MARS) proof-of-concept in Greenville, SC, followed by a roll-out of its technology in Minnesota for 2022. This mobilised kinetic energy would also be sourced to charge electric school buses. There are approximately 5,000 school buses and 1,000 municipal and mass transit buses in the Minneapolis-St. Paul greater area which could transition to zero emission electric in the future. Through a dedicated project joint venture which may be funded by Levo, Ecolution plans to supply St. Paul and the Twin Cities area in Minnesota with electric vehicles and electric vehicle charging stations powered by its rail-to-grid technology. Ecolution was named a finalist of Fast Company’s World Changing Ideas Awards in the ‘On the Rise’ category and received an honourable mention in the Energy and Transportation categories. 64

August 2022

SMART CITIES

100 European cities take up the challenge to become carbon neutral by 2030 The representatives of the 100 European cities selected to participate in the European Mission 100 climate-neutral and smart cities by 2030 met for the first time in Brussels recently. The programme will address clean mobility, energy efficiency and green urban planning. Cities selected for the Mission will be fully supported by the NetZeroCities programme led by EIT Climate-KIC and receive €360mn of Horizon Europe funding this year and next. Dr. Kirsten Dunlop, CEO of EIT ClimateKIC, said the mission is not just about the ‘what’, but also the ‘how’. “It’s about solid, thoughtful collaboration,” she said. “It’s about bringing together departments, budgets, ministries, colleagues and those who don’t normally come together around the same table, bridge silos and sectors where combinations happen because people begin to see the possibilities.”

energydigital.com

SMART CITIES

News in brief • PNY Technologies and AI engineering company SmartCow have announced a strategic partnership to bring AI smart city solutions and support development throughout Europe, Middle East, Africa and India. • Green tech startup Oizom has been selected by Accenture’s Sustainability Value Accelerator Programme (ASVAP). Using its sensor-based hardware, Oizom monitors various environmental parameters related to air quality, noise, odour, and weather. 66

August 2022

• Delta, which specialises in power and thermal management solutions, has announced the launch of SLIM 100, a new EV charger which offers a maximum power of 100kW and includes rectifiers with 97% power efficiency. With its height of 1.6m, there is no need to apply for building permission in city areas. • SUN Mobility, a leading provider of energy infrastructure and services for electric vehicles, has launched its battery-swapping network for electric vehicles in Mumbai, in collaboration with Amazon India.

SMART CITIES

• Zenpark has officially launched the third generation of its smart parking solution, Zenpark Pro Smart, with 100% digital access and operation, a shared electric charging station, and an online platform to boost the retail activity of neighbourhood businesses. • Visionary.ai, a developer of software-based image signal processor (ISP) technology, and Innoviz, which provides high-performance, automotivegrade LiDAR sensors and perception software, have teamed up with the aim to

improve 3D machine vision performance for a wide range of applications including robotics, smart cities, and drones. • Suita Sustainable Smart Town is one of three sustainable smart towns created to help combat Japan's dual issues of an ageing society and rise in single-person households. Located in Suita City, Osaka, the Suita SST provides residential units with features like AI-enabled sensors and discrete security cameras to help monitor residents’ safety. energydigital.com

TOP 10

August 2022

TOP

10 ENERGY COMPANIES These energy big-hitters stand on the front line of the energy transition WRITTEN BY: DOMINIC ELLIS

ith world oil demand forecast to reach 101.6mbd in 2023, surpassing pre-pandemic levels, and ongoing geopolitical uncertainty with gas supplies, it's hard to recall a busier time for the energy majors – and that's before you consider the tumultuous transition to renewables and low-carbon technologies and operations. The IEA warns global oil supply may struggle to keep pace with demand next year, as tighter sanctions force Russia to shut-in more wells and a number of producers bump up against capacity constraints. But it's safe to assume the following 10 companies will be at the forefront of any short- and medium-term industry changes. energydigital.com

TOP 10

10 Equinor

Market cap: $116.92bn Whether it's working on zero carbon shipping initiatives or developing floating offshore wind, Equinor is busy across a number of renewable fronts – while remaining a key gas supplier. A new supply agreement with the UK adds around 1bn (bcm) per year to its existing bilateral contract with Centrica.

ConocoPhillips

Market cap: $125.76bn ConocoPhillips reported Q1 2022 earnings of $5.8bn, compared with $1bn a year earlier, with production totalling 1,747 thousand barrels of oil equivalent per day (MBOED), an increase of 220 MBOED year-on-year. The Houston-based exploration and production company is now active in 13 countries.

TOP 10

Gazprom

Market cap: $134.64bn Russia’s gas giant, Gazprom, reported its highest-ever annual income for 2021, when natural gas prices soared during Europe’s worst energy crunch in decades. Despite the turmoil surrounding Russia’s energy sector following the Ukraine conflict, Gazprom remains a major name in energy circles.

Nextera Energy

Market cap: $142.22bn NextEra Energy recently announced Real Zero – what it claims is the most ambitious carbon-emissions-reduction goal ever set by an energy producer, committing to eliminate carbon emissions from its operations by no later than 2045, while leveraging low-cost renewables to drive energy affordability for customers. energydigital.com

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PetroChina

Market cap: $148.55bn

TotalEnergies

Market cap: $145.68bn TotalEnergies – active in more than 130 countries – recently entered into an agreement with Adani Enterprises Limited (AEL) to acquire a 25% interest in Adani New Industries Limited (ANIL), which will be the exclusive platform of AEL and TotalEnergies for the production and commercialisation of green hydrogen in India.

PetroChina Company, a Chinese oil and gas company, is the listed arm of state-owned China National Petroleum Corporation, headquartered in Dongcheng District, Beijing. The company is currently Asia's largest oil and gas producer. In Q1, it recorded a revenue of RMB779.37bn and net profit of RMB39.06bn.

energydigital.com

TOP 10

04 Shell

Market cap: $203.31bn Across oil and gas/LNG, energy digitalisation and renewables, Shell is active across a broad range of sectors and markets. The energy major recorded $9.13bn profit in Q1 and adjusted EBITDA of $19bn, up from $16.3bn in Q4 2021. Shell's Powering Progress strategy includes increasing investment in lower carbon energy solutions, while continuing to pursue the most competitive and highest return Upstream investments.

03 Chevron

Market cap: $301.89bn In line with its competitors, Chevron is fully embracing renewable energy, as evidenced by its recent acquisition of Renewable Energy Group. Chevron has multiple functions: it produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance business and industry.

August 2022

TOP 10

Exxon Mobil

Market cap: $385.42bn

ExxonMobil and QatarEnergy recently signed an agreement to further develop Qatar’s North Field East project, which will expand Qatar’s annual LNG capacity from 77mn tons to 110mn tons by 2026. The corporation’s primary businesses cover Upstream, Product Solutions and Low Carbon Solutions and it is one of the largest integrated fuels, lubricants and chemical companies.

energydigital.com

TOP 10

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Saudi Aramco

Market cap: $2.193tn By some distance, Saudi Aramco stands tall at the top of the energy league. In May, it posted extraordinary Q1 results with net income jumping 82% year-onyear to $39.5bn – a new quarterly earnings record for the company since its IPO in 2019 – and declared a dividend of $18.8bn. The Saudi energy giant continues to expand its presence in Europe and Asia, acquiring a 30% stake in a 210,000bpd refinery in Gdansk and embarking on a JV with North Huajin Chemical Industries Group Corporation and Panjin Xincheng 78

August 2022

Industrial Group to establish a 300,000bpd refinery and petrochemicals complex in China. Moving forward, Aramco will continue to collaborate with domestic and international partners to explore new and emerging technologies and solutions, from developing cleaner transport technologies to establishing low-carbon hydrogen and ammonia value chains. It aims to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly owned operated assets by 2050.

TOP 10

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