Democratic Republic of Congo will offer 27 oil blocks and three gas blocks, nearly double as many as previously planned, in a licensing round next week, the hydrocarbons ministry said on Monday.

Congo, a leading miner of copper, cobalt, gold and diamonds, has long aimed to boost its oil sector and is believed to have sizeable reserves. Output has remained flat for years at about 25,000 barrels per day because of underinvestment.

Environmental groups and activists have expressed alarm at the plans, as many of the concessions overlap national parks. Congo has in the past defended its right to drill for oil in national parks. Read full story

The blocks to be put up for auction on July 28 include three in the coastal basin of Kongo Central province, nine in the Cuvette Centrale, 11 near Lake Tanganyika and four near Lake Albert. The three gas blocks are on Lake Kivu.

The Cuvette Centrale in particular sits on peatlands that scientists say could release massive quantities of carbon dioxide into the atmosphere if disturbed.

Congo had initially planned to auction 16 oil blocks, nine of which overlapped with protected areas. The ministry said in its statement on Monday that it had decided to auction 30 now to maximise opportunities for the country.

According to the World Bank, Russia holds the world’s largest natural gas reserves, the second largest coal reserves, and the eighth largest oil reserves. Over the past years, Russia has expressed heightened interest in exploring and producing oil and gas in Africa. Emboldened African leaders and industry executives have accepted proposals, several agreements and whatever were signed, but little have been achieved in the sector. With the rapidly changing geopolitical conditions and economic fragmentation fraught with competition and rivaly, African leaders have to understand that Russia might not heavily invest in the oil and gas sector, not even in the needed infrastructure.

Nearly our monitoring, research and several interviews with experts especially inside Africa, we can conclude that Russia-Ukraine crisis has brought into its fold good opportunities. Understandably, Russia is energy self-sufficient, it does not need to import energy from Africa, it can only act as a fortified gatekeeper. It has done these several years, primarily to ensure control of Africa’s energy from entering the global market. Popular opinion now is that potential African producers can take advantage to attract investments required to build infrastructure that would enable them to expand exploration, production and exportation to meet the anticipated increase in demand in Europe.

Reading the daily news feed, Russia’s interests about possible participation in the oil and gas related projects is perceived by some experts as a bid to either sabotage or control the flow of gas from Africa into Europe. Many more experts have scholarly written about the implications of Russia-Ukraine crisis, and what that means especially for Africa. The crisis casts a long shadow across Africa. Despite the geographical distance, there are implications the need for forging pan-African solidarity and adherence to working towards developing the continent’s natural resources. If this is not done, then Africa will continue importing oil and gas, and increasingly certain to sit on the untapped reserves.

During June 2021 interview discussions with NJ Ayuk, Executive Chairman of the African Energy Chamber, a pan-African company that focuses on research, documentation, negotiations and transactions in the energy sector, expressed the urgent necessity for scaling up Africa’s production capacity in order to achieve universal access to energy. He further noted the challenging tasks and pointed strongly to the need for a transformative partnership-based strategy, (that requires transparency, good governance and policies that could create a favourable investment climate) and that aims at increasing access to energy for all Africans.

Natural gas, affordable and abundant in Africa, has the power to spark significant job creation and capacity-building opportunities, economic diversification and growth. Sustainable development of African economies can only be attained by the development of local industry — by investing in Africans, building up African entrepreneurs and supporting the creation of indigenous companies. It requires a cooperative efforts by Africans.

Can both have a unified approach to collaborating on issues of energy projects in Africa? To this question, NJ Ayuk said that Africa has already made an indelible mark in the oil and gas industry, and Africans must become more accountable, plan better in the energy sectors. But for some potential external investors only admire “dating and promising” and, in practical terms,  not their priority to invest in the sector.

He rhetorically asked Africa has been receiving aid for nearly six decades, and what good has it done? In order to change the tide, Africans must be responsible. Consider the impact of energy deficiency. Approximately 840 million Africans, mostly in sub-Saharan countries, have no access to electricity. Hundreds of millions have unreliable or limited power at best. Even during normal circumstances, energy poverty should not be the reality for most Africans.

The popular narratives about the prevalence of energy poverty on the continent has to change. We need good governance that creates an enabling environment for widespread economic growth and improved infrastructure. African leaders need an unwavering determination to make Africa work for us, even when there are missteps and things go wrong.

The African Energy Chamber is raising A Banner for African Oil & Gas. It plans to hold Oil and Gas conference this October. As part of the conference, and will present its special report titled “State of African Energy Q2 2022 Report” during the conference. According to the report, increasing oil and gas activity and a record number of new discoveries have set the stage for significant industry growth in the second half of 2022.

In Namibia alone, for example, two breakthrough discoveries, Shell’s Graff and Total Energies’ Venus-1X, have opened frontier oil play onshore. Industry experts estimate that Venus-1X may hold recoverable resources of some 3 billion barrels of recoverable oil, making it Sub-Saharan Africa’s largest-ever oil discovery. Namibia, in fact, has led the way in new oil and gas activity this year and is emerging as an exploration hot spot. In northeast Namibia and northwest Botswana, ReconAfrica has licensed operations for the newly discovered 8.5-million-acre Kavango Basin, one of the world’s largest onshore undeveloped basins.

This is great news for our industry, which was hit especially hard by Covid-19 and has struggled to regain momentum. The energy sector was crippled by historically low volumes in 2020 and 2021, creating an even more critical need for new exploration. And Namibia is just one example of the new discoveries being made all over Africa. The Q2 2022 report outlines a number of new developments across the continent.

Eni discovered the Baleine field in Cote d’Ivoire last year, which contains as many as 2 billion barrels of recoverable oil and nearly 2 Tcf of gas offshore. This is a big deal for Côte d’Ivoire, which up until now has been producing about 34,000 barrels of crude per day from four blocks.

In Angola, TotalEnergies is drilling for the first time since 2018 and has executed a sale and purchase agreement with state-owned Sonangol for two blocks in the Kwanza Basin offshore. Other majors, including ExxonMobil, Chevron, BP, and Eni, are active in Angola as well. More than a dozen high-impact wells are predicted in the next 18 months in Libya, Ghana, Mozambique, South Africa, Equatorial Guinea, Morocco, Egypt, and others. Egypt alone has awarded eight oil and gas exploration blocks to Eni, BP, Apex International, Energean, United Energy, Enap Sipetrol, and INA.

And after long delays because of Covid-19, licensing rounds are planned, open, or under evaluation in more than a dozen countries including Angola, Equatorial Guinea, Ghana, Gabon, and Congo. The results are expected to be announced this year. Higher greenfield spending is also forecast as more projects get the green light. In Kenya, for example, large investments are expected in the greenfield onshore development of Tullow’s South Lokichar basin, Turkana County. At an estimated 585 billion barrels, this is widely considered one of the last big conventional onshore projects in the world.

These discoveries and others referenced in the Chamber’s Q2 2022 report are tremendously exciting. And if managed them properly, it could make significant progress toward the goal of a just energy transition: alleviating energy poverty, stimulating economic growth, and improving the lives of everyday Africans.

The State of African Energy Q2 2022 Report outlines an unprecedented level of new oil and gas discoveries on the African continent. The simple, staggering fact that more than half of Sub-Saharan Africans lack access to electricity means priority must continue to end energy poverty. With Africa’s population projected to exceed two billion by 2040, generation capacity will need to be doubled by 2030 and multiplied fivefold by 2050.

Oil and gas are Africa’s lifeblood and the foundation for economic development. The future depends on sustaining the longevity of the industry. And with such vast quantities of oil and gas available, we should increase production accordingly and use those resources to benefit Africans.

Africa’s wealth of new oil discoveries is not only a chance to recover some of the devastating losses suffered in the last two years — it represents an opportunity to achieve an energy transition that benefits all Africans. According to the report, increasing oil and gas activity and a record number of new discoveries have set the stage for significant industry growth in the second half of 2022.

Some experts interviewed have expressed their thoughts. Some believe that Europe can look to Africa as preferred energy supplier. On the other hand, Africa is ready to welcome investors currently pulling out of Russia if they can genuinely invest in developing oil and gas infrastructure which Africa seriously lacks in this industry. That’s a real opportunity, I think, for Africa at this point in time.

Mohammad Sanusi Barkindo, OPEC Secretary General, (before his death early July) stressed is his last speech that “It is essential if we are to develop new technologies, strengthen the human capacity and remain leaders in innovation so that we can do our part to meet the world’s growing need for energy, shrink our overall environmental footprint, and expand access to underserved communities. Yet the industry is now facing huge challenges along multiple fronts, and these threaten the investment potential now and in the longer term.”

Regrettably, we are seeing global energy cooperation becoming more fragmented. New regional alignments are threatening to reverse years of progress towards creating a more stable and interconnected energy system. We cannot afford to allow multilateral energy cooperation and global energy security become collateral damage of geopolitics, the OPEC Secretary General said.

As an author of this article, I would acknowledge that for African countries with huge oil and gas reserves, it is necessary to underscore the importance of cooperation in exploring and producing this resource to support the needed sustainable development goals, and attempt at becoming more prominent on the global energy stage.

Today, African countries face major challenges. Rapid population growth and the worsening energy crisis are constraining economic growth on the continent. In addition to that, poor transport infrastructure, access of the population to health services, low level of education and food supply insecurity are severely hampering efforts to improve the quality of life throughout Africa.

Our monitoring, research and analysis show that Africa has the fastest-growing population in the world, but half of this population is without energy supply. That is why African leaders have to seriously prioritize the right energy policies to make access to energy the most effective way possible in Africa.

Russian Presidential Special Representative for Middle East and Africa, Mikhail Bogdanov, in an April interview to Interfax news agency, he was asked “many people in Europe are convinced that Africa is capable of increasing the production and supplies of gas to Europe instead of Russia’s. In your opinion, how realistic is this?” He explained that “the world is governed by market rules. The reason is the existence of a whole system – consumer markets, traditional suppliers, contracts, not to mention pipelines and oil terminals. In short, this cannot be done in an instant. It will take years to replace supply chains and to build new infrastructure.”

Bogdanov says Africa is beyond any doubt the continent of the future, both from the point of view of human resources and because it is a storeroom of the world, one of the richest regions. Another issue is that colonial powers, as well as neocolonialists, have never let the Africans take advantage of the treasure which is literally right under their feet. People are working despite the fact that unscrupulous Western competitors are trying to hinder the operations.

President Vladimir Putin addressed the plenary session of the VTB Capital Russia Calling! Investment Forum held VTB Bank. As usual, the forum brought together from all over the world, business leaders, investment managers and consultants, as well as international experts in the field of the economy and finance. Putin had the opportunity, not only to listen to academics and researchers, sometimes even opposing views of the current developments, but also enjoyed interactive exchange of opinions with potential investors, an insight into the mood of business partners both in Russia and abroad.

On Africa, Putin noted at the VTB Capital’s Russia Calling Forum, that many countries had been “stepping up their activities on the African continent” but added that Russia could not cooperate with Africa “as it was in the Soviet period, for political reasons.” For decades, Russia has been looking for effective ways to promote multifaceted ties and new strategies for cooperation in energy, oil and gas, trade and industry in Africa.

But so far, Russia’s investment efforts in the region have been limited which experts attributed to lack of a system of financing policy projects. While Russia government is very cautious about making financial commitments, Russia’s financial institutions are not involved in financing initiatives in Africa.

At the same time, Russian companies currently have a limited presence in Africa, simply there are no stimulus for efforts to localize production of equipment and strengthen technological partnership in the sector. Russia contentiously claims the leading position as a supplier and now rapidly diversifying its products at discounted prices to Asian market. With the emerging new economic order, it is simply logical that Africans should not expect much in this oil and gas sector from Russia.

Germany’s KSB SE & CoKGaA and Leistritz Pumpen GmbH have unveiled an international service alliance to raise customer service worldwide to a new, networked and especially fast level.

Image © WrightStudio – stock.adobe.com.

Following a successful test phase in France, the service alliance will now be rolled out to other countries.

Frankenthal-headquartered KSB has more than 190 service centres and around 3,500 service staff offering customers global inspection, maintenance and repair services. To further expand its premium KSB SupremeServ brand, the company is cooperating with Nuremberg-based Leistritz with the aim of becoming more efficient and networked and providing an extended range of screw pump services.

“The next step will be to extend the service alliance to our customers in Singapore, Thailand and Indonesia,” explains Markus Schwarte, managing director of Leistritz Pumpen GmbH. “Together, we are even faster and can precisely respond to our customers’ needs 24/7, offering a high level of availability, 365 days a year. Classic, personal, local and global, digitally connected.”

Dr Dirk Kollmar, head of Service Operations at KSB, says: “We have joined forces to offer our customers a service package that can be tailored to all applications while at the same time progressively expanding our joint global service presence.”

Roper Technologies Inc has agreed to sell a majority stake in its industrial businesses, including its entire Process Technologies segment and the industrial businesses within its Measurement & Analytical Solutions segment, to affiliates of private investment firm Clayton, Dubilier & Rice LLC (CD&R).

Image © red150770 – stock.adobe.com.

Roper will receive total upfront, pre-tax cash proceeds of approximately US$2.6 billion while retaining a 49% minority interest in a new standalone entity.

The transaction includes the Cornell, FMI and Roper Pump businesses, as well as Alpha, AMOT, CCC, Dynisco, FTI, Hansen, Hardy, Logitech, Metrix, PAC, Struers, Technolog, Uson and Viatran. Together, these businesses generated approximately US$940 million of revenue and US$260 million of EBITDA in 2021.

“This is the final step in Roper’s divestiture strategy to reduce the cyclicality and asset intensity of our enterprise,” said Neil Hunn, Roper Technologies’ president and CEO. “Selling a majority interest in these industrial businesses will provide Roper with significant upfront cash, while maintaining the ability to receive additional cash proceeds from the future exit of our minority interest.”

“We are excited to partner with CD&R given their track record of successful corporate partnerships. Operating as a standalone entity will enable these businesses to build on their niche-leading strategies and continue creating value for their customers and shareholders,” added Hunn.

John Stroup, operating advisor to CD&R Funds, will lead the standalone entity when the transaction closes.

The adoption of multi screw pumps has increased exponentially over the past half-decade, with the consumption volume rising from 146,000 units in 2015 to 202,000 units in 2022. Antonio Castilhos, vice president of national sales, Netzsch Pumps North America, explains what is driving this growth.

This rapid rise has been fueled by a number of factors, including major growth in the industries of end users, such as power generation, food and beverage, and chemical and petrochemicals. Other reasons include the modernization of the water and wastewater industries, the use of these pumps in hydraulic fracturing, and the sustained rise of urbanization and industrialization in the developing world.

In addition to increasing demand, there is also a growing awareness and understanding of the advantages of multi screw pump technology. Indeed, these technologies have benefited from significant improvements, including new designs and the ability to machine within tighter tolerances. Specialized products have also become available with varying levels of performance for a range of specific applications.

The advantages of multi screw pumps

Multi screw pumps provide a wide range of advantages across their various applications. First, these pumps are distinguished by their energy and operating efficiency, leading to significant reductions in energy cost and cost of maintenance. Specifically, Netzsch NOTOS multi screw pumps lead to 23.3% more efficiency when compared to other pumps on the market.

These pumps can also handle a wide range of media, including incompressible and highly-viscous products. This includes product that is abrasive, aggressive, corrosive, shear-sensitive, solids laden, low or high viscosity, and lubricating or non-lubricating.

High pressure and leak free, the performance of multi screw pumps is consistently high level. They handle the conveyed product gently and smoothly, also reducing the noise of the process. Because they are entirely made of metal, multi screw pumps can also tolerate high temperatures, easily withstanding temperatures above 572° Fahrenheit / 300° Celsius.

Multi screw pumps are also hygienic by design, making them ideal for applications in near-sterile environments, such as in the food, beverage, pharmaceutical, and cosmetics industries. These pumps are quite easy to clean because they are made of stainless steel and are rigorously polished, such that a pumped product cannot stick to the surfaces. This hygienic design allows for effective cleaning-in-place (CIP) and sterilization-in-place (SIP) processes.

Roots pumps from Pfeiffer Vacuum’s OktaLine are ideal for use in processes in potentially explosive environments or for evacuating explosive gases. Designed in accordance with the ATEX Directive (2014/34/EU1 and/or 1999/92/EC) with pressure surge resistance of PN 16, they meet the very highest explosion protection requirements.

Zone entrainment of explosive gases is ruled out as a result. Potential applications range from the chemical, biotechnology and pharmaceutical industries to industrial applications such as vacuum furnaces or heat treatment.

As a result of the expansion of the series, pumping speeds range from 280 to 8,100 m³/h. Depending on the application, there is a choice between equipment category 2G or 3G. All pumps are suitable for temperature class T3. Installation is possible without flame arresters. This means that, effectively, the full pumping speed of the pump is available.

The pumps are suitable for universal use due to their variable differential pressure and flexible rotational speed. All pumps can be used at ambient temperatures ranging from -20 °C to + 40 °C.

In view of their magnetic coupling, OktaLine pumps are hermetically sealed and achieve extremely low leak rates of 10^-6 Pa m³/s. The magnetic coupling eliminates the need for shaft seals, which are inherently weak points if it comes to pressure surges and are high-maintenance. OktaLine ATEX pumps are pressure surge resistant up to 1600 kPa. Due to their magnetic coupling, there is no risk of zone entrainment. The integrated temperature sensor protects against thermal overload and monitors the gas temperature in the outlet area.

Compared to pumps with shaft seals, the OktaLine’s magnetic coupling achieves up to 20 % lower operating costs and considerably reduced maintenance costs. OktaLine Roots pumps can also be operated without a bypass, since ATEX protection is guaranteed even with passive rotation (windmilling). The use of ATEX IEC motors means that replacement on site is quick and easy.

Building on the revolutionary GHS VSD+ range of variable speed-driven oil-injected screw vacuum pumps, Atlas Copco has taken a leap ahead with the new GHS 1402-2002 VSD+ series. These series of pumps have a new design for better performance, optimal oil separation, a smaller footprint and an innovative new controller which puts the customer in gear for Industry 4.0.

With the GHS 1402 – 2002 VSD+, vacuum manufacturer Atlas Copco is launching a new model of speed-driven screw pumps in three pumping speed classes. In rough vacuum applications, the oil-injected pumps deliver a continuously high pumping speed – from atmospheric pressure to ultimate pressure. Commenting on the first of many new features, Product Manager Yuri Vanderveken explained, “The GHS 1402-2002 VSD+ features the new Atlas Copco oil-injected screw element. It’s innovative compression optimization valves allow for high pumping speeds at rough vacuum.” This makes them ideal for use in central vacuum systems, for vacuum cooling, for the production of food packaging and thermoformed plastic components as well as for vacuum chambers for altitude simulation.

“This is also a forward-looking pump. It is equipped with HEX@, Atlas Copco’s revolutionary new vacuum controller, making this pump ready for industry 4.0. With a new control system, users of the speed-driven pump type are also well equipped for the comprehensive digitalization of industrial processes”, continued Vanderveken.

Higher vacuum performance, lower consumption

Compared to the previous models, the innovative design of the three models GHS 1402, GHS 1602 and GHS 2002 VSD+ results in better vacuum performance, a 15 percent smaller footprint and longer maintenance intervals. “The footprint of the GHS 1402-2002 VSD+ is smaller than 2 square meters. The design is compact due to the vertical drive train design,” commented Vanderveken.

The new GHS VSD+ screw pump also contributes significantly to saving energy costs. This is based on the one hand, on the combination of the Neos inverter with a setpoint control. This means that the GHS 1402-2002 VSD+ deliver exactly the pumping speed required for the respective process. Moreover, an energy recovery system helps recover up to 80 percent of the power in the form of hot water. In addition to saving costs and water, this also results in lower CO2 emissions.

High efficiencies at all speeds and demand levels

The increased efficiency is also due to the new permanent magnet motor. In its IE5 efficiency class, it has high efficiencies and produces an increase in efficiency of about two percent over the entire speed range. “This new technology ensures higher efficiency at all speeds when compared to classic motors. These new motors are oil-cooled, with oil lubricated bearings that provide optimal cooling at any speed,” elaborated Vanderveken.

Oil cooling maintains the optimal motor temperature at all speeds. The motor bearings are also lubricated by oil, which eliminates the need for regular relubrication. “We have in fact have dispensed with an additional fan, which reduces energy consumption and the noise level,” he continued. The motor is enclosed in a housing with IP66 protection. This makes it very resistant, especially in rough and dusty application environments.

Intelligent functionalities

One of the more exciting features of the GHS 1402 – 2002 VSD+ series is its intelligent functionalities. “For this purpose, we have integrated our new Atlas Copco HEX@ controller, which ensures high vacuum performance and user-friendliness,” underlines Product Manager Yuri Vanderveken. “HEX@ has a configurable user interface. You can tailor the information you see to your own needs and priorities.” Via the controller, users can visualize and set the parameters of the pumps from any smartphone, laptop, PC or tablet via a web browser, regardless of location. This allows the vacuum pumps to be configured even more specifically and sustainably for the respective applications. Other smart functionalities vary from intelligent scheduling over pump down optimization to leak detection.

Atlas Copco’s new GHS 1402 – 2002 VSD+ delivers efficiency by design and combines the best of several technologies that ease of use, peace of mind and next-level innovation.

Celeros Flow Technology has injected new life into a heritage pump for a Canadian heavy oil recovery customer, enabling them to increase production. The pump – a Mather & Platt BB5 – was more than 40 years old and had been subject to numerous post-installation alterations.

Heavy oil deposits are extremely viscous and require the injection of high pressure, high temperature steam to improve fluidity and allow the oil to be pumped to the surface. In order to boost extraction on this project, the customer needed to increase water temperatures from 90° C to 140° C. However, there were concerns that the existing pump may not be able to deliver this requirement. Nozzle loads were a particular concern. They turned to Celeros Flow Technology brand ClydeUnion Pumps, their preferred supplier of some 20 years, for assistance.

Mather & Platt is one of several heritage pump brands for which Celeros Flow Technology offers full lifecycle support1. Their aftermarket engineering team undertook a thorough examination of the quadragenarian Steam Assisted Gravity Drainage (SAGD) boiler feed water pump used in the heavy oil extraction process. The investigation revealed that the pump had suffered a number of seal failures over time that had damaged the stuffing box and affected operational efficiency. There had also been no maintenance interventions for decades – but the pump had never actually failed.

Says Mike Golds, Global Upgrade and Rerate Programme Manager for ClydeUnion Pumps: “It is testament to the quality of the original pump that it had continued to operate in such harsh conditions and with no regular maintenance over such a long period of time. More importantly, it gave us confidence that a thorough overhaul could achieve the desired improvement in performance, saving the customer the cost and lost production time that can be associated with sourcing and installing a new unit.”

Celeros Flow Technology overhauled the SAGD pump and performed a mechanical seal upgrade and Plan 23 seal flush to optimize pump performance. In addition, finite element analysis was undertaken to confirm that the nozzle loads would withstand the desired temperature increase. As a result, the pump is now capable of delivering steam at the higher temperatures required. The seal upgrades ensure it meets the latest specifications.

Concludes Mike Golds: “We are really pleased with the outcome of the SAGD pump upgrade. It has not only achieved the desired production increase for the customer, but also provided a more sustainable and cost-effective solution than total pump replacement. Using modern engineering and analysis, we have been able to give the existing pump a new lease of life and ensure it will continue to perform well for many more years.”

The Danish marine pump specialist Svanehøj has been awarded a contract to supply pump systems for two LNG fuelled carriers that will transport liquid CO2 to the Northern Lights project’s storage facilities in Norway.

2021 has been a record year for Svanehøj.

Northern Lights is developing infrastructure to transport CO₂ from industrial emitters in Norway and other European countries by ship to a receiving terminal in western Norway for intermediate storage, before being transported by pipeline for permanent storage in a geological reservoir 2,600 m under the seabed.

The two CO₂ carriers are being built at Dalian Shipbuilding (DSIC) in China and are expected to be operational in 2024. Both vessels will have a capacity of 7,500 m³ of liquid CO₂. Svanehøj will deliver two 15 m deepwell cargo pumps of for each ship. In this project, Svanehøj’s multigas technology will be shown to its full potential, as the customer wants the pumps to also be used to handling LPG natural gas. Over the years, Svanehøj has supplied cargo pump systems to more than 1,100 LPG tankers around the world.

“We have won the order through our long-standing partner, TGE Marine, which designs and delivers complete cargo handling systems for the CO₂ carriers,” said Thomas Uhrenholt Nielsen, sales director, Cargo Gas at Svanehøj. “TGE has chosen our deepwell cargo gas pumps, which they are very familiar with from numerous LPG tankers.”

Svanehøj has been supplying cargo pump systems for CO₂ carriers since the late 1990s.

“Thanks to our experience from the relatively few CO₂ ships built so far, we are part of the dialogue on several of the upcoming CCS (carbon capture & Storage) projects. CCS is a focus area in our business strategy, and the order from TGE for Northern Lights is therefore of great strategic importance. This could be a big market for us within the next few years,” addedsaid Uhrenholt Nielsen.

Svanehøj started 2022 with a new “Powering a better future” strategy and a target of doubling its turnover to DKK1 billion (approximately US$143 million) by the end of 2026. The strategy is primarily focused on supporting the transition to climate-neutral shipping, but also on investing in new business areas, including CCS

The Gjerdrum family has acquired 100% of the shares of Norwegian pump and liquid handling specialist PG Flow Solutions AS (formerly Ing Per Gjerdrum AS), 40 years after Per Gjerdrum founded the company.

PG Flow Solutions’ headquarters in Sande, Vestfold, Norway.

“Although we have been shareholders of PG Flow Solutions (PG) through EnFlow since 2014, it feels like the company is coming home,” says Mads Gjerdrum, the new chairman of PG. “We are facing major market opportunities within the maritime industries and the energy sector. New ownership means increased investments in these industries, while at the same time maintaining the position we have built up in aquaculture and land-based industries. We will also continue the excellent cooperation we have with our former sister company Cflow Fish Handling AS.”

In 2014, private equity company Norvestor become the majority shareholder of PG. Since then, PG has conducted a successful transition through significant cost reductions and by developing and delivering a number of products and systems to the aquaculture and fisheries industries as well as land-based industry. Historically, the majority of PG Flow Solutions’ revenues have come from offshore energy and maritime industries.

“It is fully understandable that PG wants to capitalise on the growth opportunities in the energy and maritime industries, which a large part of the company’s history is founded upon. However, this direction is not a natural part of our strategy, and we are therefore pleased that we can divest the company to the Gjerdrum family,” says Stig Bjørkedal, departing chairman of PG and CEO of Cflow.

PG’s core offering will continue to be proprietary pump solutions and liquid handling systems.

The Gjerdrum family will inject new capital into PG. This will strengthen the company’s foundation for further development of its product offering for the aquaculture, fisheries, energy and land-based industries, but also finance even stronger growth efforts both in Norway and internationally.

Roy Rødningen continues as managing director of PG, while Mads Gjerdrum becomes the new chairman.

PG will remain at the company’s headquarters in Sande, Vestfold, Norway. The facility was built in 2013 and includes a complete workshop with steel fabrication and production, assembly, automation, modern and extensive test facilities, and offices.SHARE0

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