NorSea - Experts & Thought Leaders

The second North Sea Summit which is being organised by the Belgian Federal Government will have an important industrial outlook since it will be supported by seven Belgian companies and federations. These are the system operators Fluxys and Elia, the hydraulic engineering specialists DEME and Jan De Nul, the Belgian Offshore Platform, the Belgian employers' association for technology companies Agoria, and the Port Oostende. North Sea Summit  They will be welcoming the CEOs of 100 top European companies that work in the field of offshore renewable energy on Monday 24 April 2023. During two roundtable discussions, they will join national and European policymakers to discuss the future of the North Sea. The largest coalition ever focusing on energy in the North Sea The European offshore sector can strengthen its position and contribute to a sustainable energy system The North Sea Summit in Ostend will follow in the footsteps of the May 2022 North Sea Summit held in Esbjerg, Denmark, and will aim to make the North Sea the new green power hub of Europe. By working together, accelerating, and focusing on innovation, the European offshore sector can strengthen its leading position across the world and more quickly contribute to the establishment of a more sustainable, affordable, and independent energy system.  Addressing energy challenges Following a suggestion from the Belgian Federal Government, the number of countries that were involved in the summit in 2022 is being expanded from 4 (Belgium, the Netherlands, Germany, and Denmark) to 9 (UK, Ireland, France, Norway, and Luxembourg). Along with experts from the offshore industry, the largest coalition ever focusing on energy in the North Sea will thus gather together in Ostend. Discussions with 100 European industry front-runners The North Sea Summit in Ostend will host national and European politicians and, in line with the Belgian Federal Government’s recommendations, 100 CEOs from large industrial companies. The entire offshore renewable energy value chain will therefore be represented at the summit. Guests will include representatives from wind farm developers and investors; representatives from manufacturers of wind turbines, electrolysers, foundations, and other related components; EPC contractors; ship operators; ports; and transmission system operators. The latter are all essential for the building, integration, and operation of offshore renewable energy technology. Political and an industry strand At the start of the conference, a roundtable discussion will be held, which the energy ministers will attend The North Sea Summit will include two strands: a political strand and an industry strand. Representatives from the industry will be hosted at their separate locations. Political leaders will join them at two different points during the day. At the start of the conference, a roundtable discussion will be held, which the energy ministers will attend alongside European Commissioner Kadri Simson. Green hydrogen Additionally, towards the end of the day, the heads of state and governments and Ursula von der Leyen, the President of the European Commission, will join industry representatives for the second time.  Together, they will take part in discussions related to supply chains and competitiveness, enhanced European cooperation, grid infrastructure investments, innovation, and the acceleration of offshore renewable energy deployment. Building on the previous summit in Esbjerg, the expansion of green hydrogen will also be discussed. 7 Belgian partners In terms of the timetable for representatives from European industry, the Belgian Government established a partnership with 7 Belgian companies and federations that are making a significant mark on the development of offshore renewable energy in the North Sea and beyond. Their representatives will therefore have a prominent voice during the roundtable discussions. Ports Ports are essential nodes in the supply chains of the offshore wind turbine industry" "Ports are essential nodes in the supply chains of the offshore wind turbine industry," Dirk Declerck, CEO of Port Oostende. "Ports which are key contributors to the diversification of our energy supply and the acceleration of renewable energy should be appropriately recognised and be part of the European transport infrastructure network." Offshore grid “The North Sea will become the engine of Europe’s economy. This will only succeed if we develop the necessary infrastructure for it, which will look different compared with today." "The future offshore grid needs innovations such as hybrid interconnectors (interconnectors that are linked to wind farms) and energy hubs such as the first artificial island we are building in the Belgian North Sea," Chris Peeters, CEO of Elia Group. Electrification and hydrogen system "A balanced system of electrification and hydrogen in the North Sea is the way forward. Hydrogen can also be stored to secure our energy supply in the medium to long term." "In addition, carbon removal technologies are needed to capture unavoidable emissions from industrial processes. The North Sea has many depleted oil and gas reservoirs and aquifers that can be used for the permanent storage of CO2," Pascal De Buck, CEO of Fluxys. Renewable energy The industry is ready to convert as much North Sea wind as possible into renewable energy" "Industry is ready to convert as much North Sea wind as possible into renewable energy for citizens and businesses. We ask the heads of state and governments and the President of the European Commission to accelerate their work on a robust legal framework." "This is necessary to attract investments in the production, transport, and storage of North Sea energy," Annemie Vermeylen, Secretary-general Belgian Offshore Platform. Energy transition "By combining our knowledge, expertise, and ambitions, we as the Belgian and European offshore industry can take on a leading role in accelerating the energy transition, boosting energy security, anchoring the industry in Europe, and strengthening the European lead in offshore technology." "To be successful in this, however, it is important to address urgent needs around the supply chain, human resources, and capacity to successfully realise these ambitions," Bart Steukers, CEO of Agoria. Supply chain "As we face geopolitical instability, the offshore energy sector needs a long-term stable investment environment. We are pioneers and world leaders in our sector, but the European supply chain (wind farm components, installation vessels, etc.) needs to be strengthened so that we have a guaranteed supply of parts at competitive prices." "It is also essential to have a sound compensation mechanism for offshore wind farms that protects both consumers and the supply chain," Julie De Nul, CEO of Jan De Nul Group. Innovative solutions The European offshore energy sector has the know-how and capabilities to help realise the energy transition" “The European offshore energy sector has the know-how and capabilities to help realise the energy transition, make Europe more energy independent, and anchor these activities in Europe." "DEME is a prime example of this and is extremely well positioned to continue providing the innovative solutions needed for this green future. This North Sea Summit is important for highlighting the opportunities, but also the challenges and the framework conditions that need to be addressed to achieve these goals," Luc Vandenbulcke, CEO of DEME Group. Overview of European industry and federations participating in Ostend For Belgium Port Oostende, John Cockerill, DEME, Jan De Nul, Besix, Smulders, Sibelco, Parkwind, Fluxys, Elia, ArcelorMittal, Solvay, Ackermans & van Haaren, North Sea Port, Port of Antwerp-Bruges, Agoria, Belgian Offshore Platform, Virya, and Otary For Denmark Vestas, NKT Group, Ørsted, Energinet, Copenhagen Infrastructure Partners, Port of Esbjerg, Green Power Denmark, Haldor Topsoe, Maersk, Dansk Industri, Dansk Erhverv, Danske Rederier and DSV. For France Nexans, Chantiers de l’Atlantique, Louis Dreyfus Armateurs, Eiffage, Port du Havre, Alstom, Engie, EDF, TotalEnergies, RTE, GRTgaz, EVOLEN, France Énergie Éolienne, McPhy, Port de Saint-Nazaire and Port de Dunkerque. For Germany Linde, Siemens Gamesa, RWE, OGE, GASCADE, 50Hertz, Amprion, BASF, ThyssenKrupp, BWO, EnBW, Iberdrola Germany and KfW. For Ireland XOCEAN, Electricity Supply Board, Mainstream Renewable Power, Simply Blue Group, SuperNode, MaresConnect, EirGrid, Enterprise Ireland, Temporis, and Wind Energy Ireland. For The Netherlands NWEA, IRO, Van Oord, Sif, TenneT, Gasunie, Port of Rotterdam, Eneco, GBM Works and Huisman. For Norway Aibel, Fred. Olsen Windcarrier, Aker Solutions, Equinor, Statkraft, Statnett, NVE, DNV, NorSea/ Wilhelmsen and Norge Mining. For the UK Shell, BP, SSE, National Grid Ventures, ScottishPower, Associated British Ports, Energy UK, Renewables UK, Catalyst Technologies, The Crown Estate, National Gas, and INEOS. European associations WindEurope, Clean Hydrogen Partnership, European Sea Ports Organisation, Europacable, EIB, WWF, and Renewables Grid Initiative.

A trusted provider of logistics services to the offshore industry for over 60 years, supporting operating companies on the Norwegian continental shelf, NorSea first welcomed Wilhelmsen as one of the owners in 2012. The latest transaction increases Wilhelmsen's shareholding from 75% to 99%.  Now announced increased shareholding was a purchase option that was agreed in 2017 with a set price at MNOK 500. Former partners Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS have each sold their shareholdings of circa 12%, with NorSea employees retaining the remaining 1% of shares. Across numerous projects Wilhelmsen group CEO, Thomas Wilhelmsen says, “Our partnership with NorSea and other shareholders has developed and strengthened over many years, across numerous projects, joint ventures, and indeed shared ambitions. Eidesvik and Møkster have been instrumental in helping to build this connection and we remain immensely appreciative of their efforts.”  Adding, “The latest transaction demonstrates our continued belief in the competence and values of the company and supports the Wilhelmsen group’s long-term strategy towards the supply base industry and other exciting ventures in the ocean space.”  Current offshore industry We are already well-organised to take on exciting initiatives supporting the green shift" Much of Norway’s activities and ambitions within the current offshore industry and future renewable energies are focused in geographical areas where NorSea owns and operates its bases. This provides a unique opportunity to be part of those value chains, something NorSea and Wilhelmsen are working hand in hand to achieve.  “We are already well-organised to take on exciting initiatives supporting the green shift. Wilhelmsen’s increased ownership of NorSea will be a catalyst to ensure that we continue to build a sustainable supply chain for the oil and gas industry, as well as expand our business portfolio into new activities that support the energy transition,” says Jan Eyvin Wang, Executive Vice President, New Energy division, at Wilhelmsen.   Mentioned business segments Group CEO of NorSea, John Stangeland says: “Our comprehensive network of offshore supply bases in Scotland, Denmark, and Norway, covering the North Sea basin and all the way up the Barents Sea, opens a vast variety of options for us together with Wilhelmsen.” “Our coastal infrastructure delivers potential within all the mentioned business segments, and having such a strong owner behind us, who share our ambition, means we can pursue opportunities when they come. With Wilhelmsen, we benefit from an enthusiastic partner that actively supports our ventures to increase growth in our various business segments. Their increased ownership will therefore help us in further solidifying NorSea’s position as an important part of the ongoing transformation of the Nordic offshore and energy industries.”

“As the energy transition continues to gather pace, we are actively looking at new projects and business areas, outside of the oil and gas industry, where NorSea’s unique port infrastructure and proven service and supply know-how can continue to be a key driver of success." "The development of the seabed mineral industry in Norway is far from certain, but partnering with a frontrunner like Loke, which has such focus on developing new technologies and systems to safely and sustainably extract minerals from Norwegian waters puts us in an interesting position,” says John Stangeland, group CEO of NorSea. Clean energy technologies Marine minerals have been identified by the World Bank, World Economic Forum, and International Energy Agency as one of the potential solutions to meet the increasing demand for the metals currently used in electric vehicle batteries, clean energy technologies and consumer electronics. Norway is utilising its well-established oil and gas industry expertise Found in rock concentrations on the seabed and metallic layers that form on the sides of seamounts, Norway is utilising its well-established oil and gas industry expertise, and experiences to lead the way when it comes to outlining the potential of seabed minerals, for value creation and domestic employment. Core maritime competencies Rich with in-demand metals, such as copper, zinc, cobalt, scandium, and additional rare earth elements, the minerals on the Norwegian Continental Shelf (NCS) alone are estimated, by an independent study conducted by the Norwegian University of Science and Technology, to be worth a total of USD 100 billion and could support the creation of 20000 new jobs. Commenting on the deal, Jan Eyvin Wang, Executive Vice President of Wilhelmsen’s New Energy segment says, “We are focused on supporting the energy transition in the right way with the right partners throughout the ocean space. Bringing our global footprint and expertise into play in a new potential marine market, Loke Marine Minerals will now be able to benefit from our core maritime competencies, long-standing relationships, digital capabilities, and experience developing offshore wind and hydrogen services and decarbonised solutions.”     Licence application process They established the company in 2019 with the ambition to create an international marine minerals company The trio of veteran oil and gas industry experts behind Loke Marine Minerals recognised the opportunities offered by seabed minerals early on. They established the company in 2019 with the ambition to create an international marine minerals company. Currently developing patent-pending technology, Loke’s ESG-focused, minimal impact technical solutions aim to position it at the front for the highly anticipated licence application process for mineral mining on the NCS. “We are very excited and pleased to get these first class and top choice companies to join on the owner side of Loke. We see great benefits for the exciting phase the company now is entering from what they are bringing to the table, with regards to knowledge, experience, and culture. Their complementary business areas are an ideal match with our ambition of becoming an international leading marine minerals company,” says Walter Sognnes, CEO of Loke Marine Minerals. Expertise in subsea robotics Alongside NorSea and Wilhelmsen, TechnipFMC is also a co-investor in Loke, with an ownership of 18%. Providing services and systems to the energy industry, Technip FMC’s subsea innovation, technology and robotics compliment the integrated logistics, project management and marine know-how of NorSea and Wilhelmsen. We are pleased to partner with Loke in the development of this important resource" Jonathan Landes, President, Subsea at TechnipFMC commented, “We are pleased to partner with Loke in the development of this important resource. Our culture of collaboration, integration, and innovation, along with our expertise in subsea robotics and extensive history on the NCS can help meet the rising demand for new technologies and resources that are driving the energy transition.” Environmental impact assessment Norway is one of the only countries to have formalised marine mineral legislation with the Seabed Mineral Act in 2019. Following a detailed public consultation earlier this year the Norwegian government is now preparing an in-depth environmental impact assessment, ahead of its final decision on licencing approval for exploration and production. The decision is expected in the second quarter of 2023. NorSea Group and Wilhelmsen, will be represented on the Loke Marine Minerals’ board by Wilhelmsen’s Espen Gjerde, VP Strategy and M&A.