Offshore Energy’s 14th Edition Live and Virtual! – Offshore WIND

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In three weeks the 14thedition of Offshore Energy Exhibition & Conference opens its virtual doors! Enough said about the challenges and limitations that Covid-19 poses to all of us and our industry.Muchcan be done especially online to connect with our peers, have experts inform us about the latest ideas and technologies and grab the attention of our customers without showing them our products and services in person. At OEECs first virtual edition, all this and more is possible. Have a look below at what you can expect after logging in on 27-28October.

What to expect?

OEEC creates the perfect opportunity for people working in the offshore energy industry to establish new business relationships and maintain existing ones. You can expect plenty of interaction, information, presentations and innovations, lots of which will be live-streamed. We built a studio in RAI Amsterdam from which talk shows and discussions will be recorded and broadcasted.

In summary, OEEC 2020 offers:

As you can see, our philosophy of connecting maritime and offshore companies and people to create (sustainable) solutions forms the basis of this event.

Offshore Energy Talks

During these live-streamed 25-minute sessions, experts share their in-depth insights. For example, Energy Transition Consultant Ellen van der Veer will talk about Unlocking the full potential of the North Sea, while Sir Chris Fox, spokesperson Business and Industrial Strategy in the House of Lords, will discuss the role of the UK and the North Sea. Of course, you can ask questions via the chat.

In addition to this presentations will be held by the experienced editors of Offshore-Energy.biz on topics such as Fossil Energy, Offshore Wind, and Sustainable Shipping.

Company showcases

Pick and choose a topic or company of your interest from the varied list of presentations by industry employers and specialists. Get a feel for their culture, values and what its like to work there.

Live Talk Shows

These online talk shows cover relevant topics in the maritime, offshore and energy sector. Guided by an experienced moderator, a group of experts discusses a topic and answers questions live in our studio. Of course, you can (digitally) meet them afterwards.

Some of the topics you can expect are the Future of Energy Transition, Business in Changing Times, Marine goes Green and Heavy Lift developments

Round table sessions

If you want more focus or if you want small group interaction more than one-to-one contact, then hosting your own Round Table is ideal. You can use it for whatever you want; brainstorms, product introductions, recruitment and more. Stay focused and have time to really interact by inviting up to 8 people.

Offshore Energy Award

View the online awards ceremony of the Best Innovation Award. An expert jury will choose between the remaining nominees:

Matchmaking

Meet, share knowledge and get to know each other with the Navingo Matchmaking programme. Every participant has access to the basic features of this proven network tool. If you like it, you can upgrade toFull Event Accessor even toYear Round Access, so you can keep networking long after the event.

This is how we seek to fulfil our role of connector in these turbulent times. We hope to see you inside!

The Facts

OEEC is part of the Offshore-Energy.biz platform launched earlier this year. It combines editorial insights, (online) events, news, print, marketing and high-end info in one platform, making it a connector of communities.

That this no empty claim is shown by the facts: the OEEC platform has a total of 440,000 monthly users, 581,000 social followers and 118,000 newsletter subscribers. If you add Navingos career platform the place to be for vacancies and news in the maritime industry and its niche news portals, it offers you an outreach of 700,000 users per month, 630,000 social media followers and a whopping 130,000 newsletter subscribers!

If that isnt a great way to stay informed or get in touch with your clients and community, what is? Still not convinced? Check out what visitors and exhibitors say about OEEC on http://www.OffshoreEnergy.biz.

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Offshore Energy's 14th Edition Live and Virtual! - Offshore WIND

The Largest U.S. Offshore Wind Farm Has Its First 2 Windmills – Motley Fool

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U.S. utility giant Dominion Energy (NYSE:D) is shifting its profile, looking to get cleaner and greener. That's nothing unique; many peers are heading in the same direction. However, it recently embarked on a huge offshore wind project that investors need to watch. Here's what is going on.

Dominion Energy recently made headlines for canceling a massive pipeline project called Atlantic Coast. At the same time, it agreed to sell most of its existing pipeline business to Berkshire Hathaway. That move will materially shrink Dominion's business and result in a dividend cut. This is a big move in some ways, but not really a change in the trend for Dominion.

Image source: Getty Images.

For more than a decade, Dominion has been shifting toward more regulated and conservative businesses. The first material step in this process was exiting the oil drilling business. The pipeline business was still desirable at that point because it was predictable and there were expansion opportunities. However, a change in tax law in 2018 shifted the funding math on building new pipelines, and legal, regulatory, and environmental headwinds to projects have continued to increase. Since pipelines are no longer as predictable, Dominion is selling most of its midstream business to focus on its utility operations.

Once it has slimmed down, the utility expects that its growth rate will increase and that it can quickly resume dividend increases. To put some numbers on that, Dominion is projecting that growth after the business reset will be in the 6.5% range, with dividend growth (backed by a modest 65% payout ratio) coming in just slightly below that at 6% or so annually. Both are solid numbers for a utility of Dominion's size. The reason for all that growth will be that there's shifting and changing taking place in the utility space. That includes general upkeep of existing assets and spending to improve grid reliability. However, there's another piece of the spending story that's going to be a big long-term benefit as well -- clean energy.

Companies like Dominion are quickly building solar and onshore wind facilities in the United States. Regulators are generally happy to see such spending and, thus, are more likely to approve rate requests. That said, the big clean energy project to watch at Dominion is happening in the waters off Virginia. In fact, the utility recently completed the construction of a two-turbine, 12-megawatt project roughly 27 miles off the Virginia Beach coast. That's enough juice to power 3,000 homes.

It's understandable if you aren't exactly impressed. The truth is that, at around $300 million or so, this is a tiny project -- for now. The goal is for Dominion to learn by doing. That includes figuring out how the construction process plays out and what it's like to operate the turbines on an ongoing basis. Those learnings will be put to good use as Dominion builds out the full project, which is 2.6 gigawatts in size and can power 650,000 homes.

Dominion Energy Virginia Offshore Wind Project

Electric capacity

2.6 gigawatts

Cost

Roughly $8 billion

Total stages

Four -- a pilot test followed by three 800-megawatt construction phases

Current status

Pilot project construction completed

Final in service dates

Between 2024 and 2026

Information source: Dominion Energy.

At this point, Dominion expects the offshore wind project to cost around $8 billion and take until 2026 to fully complete. This is not a small investment or one that will wrap up quickly. But Dominion isn't trying to do it all at once, as the two-turbine pilot test shows. Indeed, once it is happy with this test, the real investment begins, but it will be spread over three phases. Each phase will provide roughly 800 megawatts worth of power.

Like the pilot, the goal is to learn from each of the stages so that the next phase of development can be handled more easily. It also allows the company to stop at multiple points along the way if things aren't going as smoothly as hoped. That said, these are still the very early days of the project, which won't really start in earnest until around 2023. But long-term investors need to start watching now for the updates on this big dig. In fact, at this point in time, Dominion's wind farm is the largest offshore wind project in the Americas, so this project is important for Dominion, but also for the entire U.S. utility sector.

Now that Dominion has completed the construction of the two pilot turbines, the best place for investors to get updates will likely be in quarterly conference calls. At this early stage, the updates are likely to be pretty vague and sparse, but as long as the company remains upbeat on the results it's achieving, the next big step to look for is the green light on the first of the three major construction stages. While that stage won't really start in earnest until 2022 or 2023, the go/no go decision will likely happen much sooner.

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The Largest U.S. Offshore Wind Farm Has Its First 2 Windmills - Motley Fool

Maine gets $2 million to help advance offshore wind power – Press Herald

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The Governors Energy Office is receiving more than $2.1 million from the U.S. Department of Commerces Economic Development Administration to advance an economic roadmap for establishing Maine as an offshore wind power industry leader.

State agencies and other stakeholders, including the University of Maine, will develop a comprehensive offshore wind roadmap aimed at creating jobs and growing talent in Maine with a focus on floating technology.

The grant will be matched with $267,624 in state funds and $112,457 in local funds, including funding from the Maine Technology Institute and in-kind contributions from the University of Maine, which is part of a consortium developing a floating offshore wind pilot project.

This investment will build on Maines national leadership on floating offshore wind power, according to U.S. Sens. Susan Collins, R-Maine, and Angus King, I-Maine.

For generations, Maine has been one of the nations energy leaders, and this project will bring in new opportunities to grow our states clean energy economy, Collins and King said in a joint statement.Thanks to our states extensive coastline, coastal communities, and the work of brilliant innovators in our state, a Maine offshore wind industry has the potential to become a leading energy provider for our region.

They said the funding will help open the door to a new source of clean energy and create good-paying jobs. Gov. Janet Mills said the award will advance the states commitment to fighting the impacts of climate change.

This important award will give Maine a roadmap for growing our clean energy economy in collaboration with our heritage industries, especially fishing, in order to support our states economic recovery from COVID-19 and sound the call that Maine intends to be a global competitor, innovator and leader in floating offshore wind, Mills said in a statement.

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Maine gets $2 million to help advance offshore wind power - Press Herald

More offshore wind is welcome, but we have to keep the jobs it creates in the UK – The Guardian

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Yesterdays speech to the virtual Conservative party conference was classic Boris: amusing metaphors, whimsical slogans and grand rhetoric. The prime minister has pledged to usher in a green industrial revolution that will help us bounce back greener from Covid-19.

One of the most significant announcements was the scaling up of the offshore wind sector. The government intends to quadruple offshore wind capacity by 2030, with a promise to power all our kettles, lights and electric cars from clean, guilt-free electricity.

It is a bold and ambitious target, requiring the installation of one wind turbine every weekday for the next 10 years, costing almost 50bn in capital investment. If this sounds familiar, its because this commitment from the Tory party was already made in its 2019 election manifesto, with the full backing of the offshore wind industry.

The prime minister announced 160m for ports and infrastructure in Teesside and Humber, Scotland and Wales, needed to build and service these turbines, but if these plans are to benefit communities as well as reducing emissions, the goal must be to keep the jobs and manufacturing contracts in the UK. Just last month, contracts to manufacture the platforms for 114 wind turbines off the coast of Scotland were won by a US corporation that intends to manufacture and ship them from China and the UAE, taking advantage of lower production costs in those nations.

Last year, EDF awarded contracts for a significant portion of its windfarm supply chain to Indonesia, ignoring the opportunity to invest and develop local manufacturers in Fife, despite the windfarms being located just off its coast. The offshore wind sector has nonetheless set a target of 60% British content in windfarms by 2030, up from roughly 50% today. A more concerted effort from government and business alongside trade unions could help achieve that target while creating green jobs and supporting the clean growth of towns and cities across Britains coast.

The striking omission in the prime ministers speech was any mention of onshore wind a technology that is currently the cheapest way to produce energy in the UK but has been crippled over almost five years through government policy. The onshore wind sector did receive a minor reprieve earlier in the year, when the government agreed to allow onshore wind to participate in competitive auctions, but rigid planning rules mean that an equally guilt-free source of electricity might miss out on powering a green industrial revolution. The Conservatives continue to harbour a misapprehension that onshore wind faces opposition from constituency voters, despite overwhelming evidence to the contrary. The renewable energy auctions next year will support more onshore wind, but most of it is likely to only be in Scotland.

Instead, the offshore wind sector is the goose that lays the golden egg, as is evident in the prime ministers desire to make the UK Saudi Arabia for wind energy. The success of offshore wind wasnt merely down to a technical ability to harvest the gusts, but an important story of state-led intervention. Renewable energy targets set with the EU in 2010 provided the legal imperative to scale up wind and solar energy, while an early gamble on expensive wind projects using taxpayers money led to a massive innovation boom. So far in 2020, consumers have paid more than 800m to support the offshore wind industry through their energy bills.

An ambitious policy initially funded by the taxpayer has now made the prime minister eat his own words when he farcically claimed, in 2013, that wind energy couldnt pull the skin off a rice pudding. The sector has now come such a long way in just seven years that we are looking at the prospect of negative subsidy projects, where offshore wind will start paying consumers back over the lifetime of their generation.

As the climate crisis accelerates and the government remains off track to meet its own net-zero target, offshore wind cannot remain the panacea for all our problems. A public investment-led innovation approach is now needed in sectors like transport, agriculture and industry, where emissions are harder to cut and new stakeholders need to be engaged. In many ways offshore wind is out of sight and largely out of mind for British citizens, but the next phase of rapid decarbonisation needs to happen in our homes, neighbourhoods and cities, where the changes will be more visible.

The government is expected to launch Johnsons 10-point plan to achieve net zero in the next few weeks, trailing the runup to the major climate summit being hosted in Glasgow next November. The prime minister is clearly enamoured by hydrogen, and carbon capture and storage (CCS), calling himself an evangelist of these technologies. But, as with all announcements, whether action matches the rhetoric remains to be seen.

The green agenda is right up there for No 10, and that is a good thing. Now the PM needs to back his idioms and metaphors with significant money.

Chaitanya Kumar is head of environment and green transition at the New Economics Foundation

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More offshore wind is welcome, but we have to keep the jobs it creates in the UK - The Guardian

Trumps Very Ordinary Indifference to the Common Good – The Atlantic

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Read: What are the Panama Papers?

Trumps name came up more than 3,500 times in the documents; although he was not implicated in any wrongdoing, many of his customers, business partners, and other associates were. The Panama Papers, still the largest data leak in history, sketched a picture of elites in revolt: a growing refusal of obligation to the societies that had allowed them to become wealthy and powerful. That point was underscored 19 months later by the Paradise Papers, another offshore leak involving prominent figures as varied as Queen Elizabeth II and Trumps secretary of commerce, Wilbur Ross. Both leaks showed that the offshore economy had produced something dangerous to the rest of us: a noblesse without the oblige. They also showed that the phenomenon was global.

As part of my research, I interviewed 65 wealth managers in 18 tax havens. Their clients used offshore tools to facilitate a way of life not only luxurious but libertineone that exempted them from what most average people would regard as basic obligations to society, and gave them the freedom to do what might get other people in trouble. In other words, they aspire to the same lifestyle Trump has exemplified for decades, including his tax dodging and the gold-plated bathroom fixtures on his private jet. Although he is undeniably different from his recent predecessors in the Oval Officeparticularly in his swaggering defiance of laws he swore to uphold and protect on Inauguration DayTrump is the ideal representative of the elite insurgency. His offhand remark while filming Access Hollywood 15 years ago could serve as the unofficial motto for the whole offshore world: When youre a star, they let you do it. You can do anything.

David A. Graham: Trump is flaunting his impunity

A similar ethos was expressed more eloquently by a Geneva-based wealth manager I interviewed; she spoke of her clients as people above nationality and laws. Another in the Cayman Islands described his offshore clientele as a pretty global bunch, with a lot more in common with each other than with the people of their own countries. To study the offshore world, I needed to enter it fully, so I spent two years training to become a wealth manager myself. The job, I learned, consists of law avoidancehelping clients dodge creditors and legal judgments, along with the claims of ex-spouses and disgruntled heirs, is as much a part of the wealth managers role as facilitating tax evasion. The result was, as I wrote in The Atlantic in 2015, a libertarian fantasy made real.

Since entering politics, Trump has followed the elite-insurgency playbook, not just refusing accountability, but flaunting his impunity. In 2016, he bragged that paying little in taxes made him smart. The novelty of his defiance lay in its openness. Only four years previously, the GOP presidential candidate Mitt Romney had sounded defensive when conceding that he had legally reduced his income-tax rate to 14 percent. I pay all the taxes that are legally required and not a dollar more, he said in a debate. Then came Trump. Far from explaining or apologizing where his taxes were concerned, he simply scoffed at the idea of anyone holding him accountable.

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Trumps Very Ordinary Indifference to the Common Good - The Atlantic

OIL resumes Andaman offshore operations – The Hindu

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Battling blowout at a natural gas well near its home in eastern Assam, Oil India Limited (OIL) has resumed its operations off the Andaman Islands after almost three decades.

OIL, headquartered in Dibrugarh districts Duliajan, last handled any exploration and production activity off the islands in the Bay of Bengal in the 1980s. The public sector Navaratna company resumed its seismic survey in its Andaman offshore blocks on October 8.

Seismic survey usually precedes all oil and gas exploration activity.

Oil and Natural Gas Corporation Limited, Indias largest exploration company, had drilled six wells off the Andaman shores during the 2013-14 fiscal without commercial success or production.

After 2014, we are the only company to venture into the Andaman waters for exploration activities. But while ONGC were in deep waters, we are getting into shallow waters with a sophisticated multipurpose data acquisition vessel, an OIL spokesperson said.

The Ministry of Petroleum and Natural Gas had awarded 32 blocks under the Open Acreage Licensing Policy through two rounds of bidding in January and February, 2019. OIL won bids for 12 blocks, including two covering an area of 9,616.7 sq km in shallow waters off the shores of Andaman Islands.

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OIL resumes Andaman offshore operations - The Hindu

Feds move toward permitting offshore Florida fish farm – National Fisherman

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The Army Corps of Engineers will open a public comment period on a permit application for a fish farming pilot project off Floridas southwest coast, following demands from critics and a newly issued pollution permit.

Hawaii-based developer Ocean Era LLC is proposing its Velella Epsilon aquaculture project, a single net pen system to raise up to 20,000 Almaco jack fingerlings, in the Gulf of Mexico about 45 miles southwest of Longboat Pass-Sarasota Bay.

The U.S. Environmental Protection Agency on Sept. 30 issued a National Pollutant Discharge Elimination System permit allowing the fish farm to discharge up to 80,000 pounds of wastewater during its pilot production cycle.

The proposed aquaculture system would be deployed for one period of 12-18 months, which will represent one production cycle including a 12-month rearing timeframe and 6 months for initial cage deployment and water quality and benthic sampling, time between stocking and harvesting, and the removal of gear at the project conclusion, according to the Corps public notice of application.

The projects equipment will include the net pen deployed on an engineered multi-anchor swivel mooring system, secured with three 3-ton drag anchors set in four to 10 feet of sandy sediment on the sea floor, according to the notice.

The net pen would be constructed using 4-millimeter copper wire to make 40-millimeter (1.57 inch) square mesh, with 2-inch steel chain and rope mooring lies. GPS transponders on the pen would send automated reporting of the pens position, while video cameras allow farm staff to remotely monitor conditions in and around the pen.

Local skeptics question how the pen will survive tropical storms, and the application goes into some detail about that.

The net pen design is very flexible and self-adjusts to suit the constantly changing wave and current conditions. As a result, the system can float on the surface of the ocean most of the time at an operational position, the application states.

When a storm approaches the area, a valve would be opened to flood the system with water, causing the entire net pen array to submerge but be maintained several meters above the sea floor and still able to rotate around the MAS (multi-anchor system) and adjust to the currents. A buoy would remain on the surface, marking the net pens position.

After the storm, air would be pumped back into the system via a hose to make the net pen buoyant again and to resume normal operational conditions.

Along with local critics, the plan is opposed by Dont Cage Our Ocean, a coalition of environmental, fishing and food safety advocates who challenged the National Marine Fisheries Service in federal court on its authority to regulate offshore aquaculture.

A federal appeals court in August ruled NMFS cannot have that regulatory power without Congress specifically granting it a move now afoot with a new bill in the Senate to create a regulatory framework for fish farming in federal waters.

Meanwhile the opponents say they will appeal the EPA water permit.

"It is extremely disappointing that the federal agency specifically tasked with environmental oversight could say that there is a "finding of no significant impact" for an industrial fish farm facility that will grow over 70,000 pounds of fish in one space, off the already struggling, fragile coast of Florida, where in recent years there has been unprecedented red tides, massive coral die off and other serious ecological challenges. Issuing this permit is a slap in the face to everyone in the Gulf," said Marianne Cufone, Director of the Recirculating Farms Coalition.

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Feds move toward permitting offshore Florida fish farm - National Fisherman

Federal Authority for Offshore Aquaculture Reappears on the Horizon – JD Supra

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In the wake of the Fifth Circuits August 2, 2020 decision holding that the National Marine Fisheries Service (NMFS) lacked authority to regulate aquaculture in the Gulf of Mexico, the Advancing the Quality and Understanding of American Aquaculture Act, or the AQUAA Act (Act), is making waves once again in Congress.

Although the Act has been floating around for a few years, with its most recent reintroduction in the House in March 2020, the Fifth Circuits decision (as B&D previously discussed), coupled with the Presidents May 2020 Executive Order emphasizing the governments policy to facilitate aquaculture projects through regulatory transparency, have revived momentum for establishing a federal regulatory system for offshore aquaculture.

The Act proposes thedevelopment of a sustainable marine aquaculture industry through a new federal regulatory regime headed by an Office of Aquaculture (Office) that will sit within NMFS at the National Oceanic and Atmospheric Administration.The Office would coordinate regulatory, scientific, outreach, and international issues related to aquaculture, as well as collaborate with the National Sea Grant college program to conduct outreach and engage with stakeholders.Generally, the Act aims to reduce the United States seafood trade deficit by expanding the domestic supply of seafood through sustainable aquaculture and opening the United States exclusive economic zoneto potential permit holders of offshore aquaculture facilities.

Under the Act, the Secretary of Commerce (Secretary) would assess and inventory areas that are appropriate for offshore aquaculture.Once identified, these areas would be open for permitted offshore aquaculture.Entities interested in conducting offshore aquaculture activities must submit a permit application to the Secretary, specifying, among other things, the proposed location of the aquaculture facility, the type of aquaculture, and emergency response plans. The Secretary would then review the permit application to determine if it complies with the purpose and requirements of the Act.

The Act explicitly states that future offshore aquaculture facilities must comply with all applicable statutes, rules, and regulations.Potential permit-holders should therefore be aware of the implications of any federally-permitted project with potential impacts on marine mammals, endangered species, water quality, and the states coastal zones.And each permit will likely be required to undergo review pursuant to the National Environmental Policy Act.

The Acts future is uncertain as it must still pass Congress and, even then, there will be a lengthy rulemaking and structuring process to follow.However, the seafood industry continues to push for utilization of these offshore resources and the insufficiency of the current regulatory regime is adding support for the bills passage. With offshore aquaculture at the heart of controversy for many coastal communities who rely on traditional methods of seafood harvesting for livelihood or who rely on open waters for recreational useoften beyond the states coastal zonethe bill, if passed, will affect the entire seafood industry.

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Federal Authority for Offshore Aquaculture Reappears on the Horizon - JD Supra

European developers build out dominance in US offshore wind race – S&P Global

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Denmark's rsted owns the first offshore wind project in the U.S., the 30-MW Block Island wind farm.Source: Scott Eisen/Stringer via Getty Images

Utilities and oil majors from Europe are slicing up the Eastern Seaboard when it comes to the burgeoning U.S. offshore wind industry, with fewer domestic-owned developers so far putting money into a sector that is expected to balloon over the coming decade.

BP PLC became the latest company to enter the fray in September, when it bought into two offshore wind developments owned by Norway's Equinor ASA, the Beacon Wind and Empire Wind projects, which between them have development potential of 4,400 MW, including an 816-MW state contract already awarded for Empire Wind. The joint venture between the two oil and gas firms follows a host of deals and leasing rounds that have seen the major players of Europe's own offshore boom take the lead in the sector's next big market.

Denmark's rsted A/S, Spain's Iberdrola SA and the BP-Equinor joint venture now own just over 11,600 MW of planned projects along the coast, while Dominion Energy Inc. and Eversource Energy the next two top owners are sitting on a combined 4,500 MW of projects, according to an S&P Global Market Intelligence analysis.

Between them, the two U.S.-based companies own less planned capacity than global market leader rsted alone and, aside from Public Service Enterprise Group Inc., there are only a handful of other U.S. companies involved in several early-stage projects making up a small slice of the more than 20,000 MW of projects already announced or under development.

While project capacities are subject to change as developers bid into different state auctions, an undeniable trend is emerging: With energy and power giants from Denmark, Spain, Norway and the U.K. crowding out inexperienced domestic developers, the U.S. offshore wind market will be far from American-made.

"They are more playing second fiddle to the large international partners," Deepa Venkateswaran, an analyst covering European utilities at Alliance Bernstein, said of the U.S. companies involved. "It's a very different landscape to onshore wind and solar."

And as states keep increasing offshore wind targets and take steps to solicit more projects, the outsized foreign influence has served to raise political risks for developers looking to convince American lawmakers that the blossoming market will be a boon to U.S. industry.

That has given ammunition to opponents of offshore wind projects, especially commercial fishing interests whose coordinated opposition helped stall a decision by the U.S. Bureau of Ocean Energy Management on whether to approve the proposed 800-MW Vineyard Offshore Wind Project. That project, which could be the first utility-scale offshore wind farm in federal waters, is a joint venture of Denmark-based Copenhagen Infrastructure Partners K/S and Avangrid Renewables LLC, a subsidiary of Iberdrola-owned Avangrid Inc.

Brandon Burke, policy and outreach director for the Business Network for Offshore Wind, noted that states are looking to develop just under 30,000 MW of offshore wind capacity by 2035 more than Europe has installed over the last three decades. So it makes sense for American companies to partner with Europeans with more experience, as Dominion, Eversource and PSEG have all done.

Still, Burke said that during a quickly accelerating energy transition, American companies particularly domestic oil and gas majors, which have decades of experience in building offshore infrastructure are missing out on a chance to diversify.

"It really is a huge opportunity, really a once-in-a-generation opportunity, to build an industry," Burke said.

'Putting your eggs in many baskets'

While the majority of planned U.S. offshore wind capacity is in the hands of European developers, the industry has to date been defined by partnerships and joint ventures. That includes all three of the largest U.S. players, who have each linked up with rsted for their initial projects.

The Danish company just completed the 12-MW Coastal Virginia Offshore Wind Pilot Project with Dominion only the second offshore wind farm to be completed in U.S. waters, which Dominion plans to chase with the 2,600-MW Virginia Beach Offshore Wind project, to be built in three phases between 2024 and 2026. By building the smaller plant for Dominion, rsted reserved the exclusive right to negotiate a stake in the Virginia Beach project, too.

The pilot project underscored the lack of a real U.S. supply chain for offshore wind projects. To get around the Jones Act, which prohibits foreign vessels from transporting goods between U.S. ports, the material for the wind farm was manufactured in Europe and shipped to Halifax in Nova Scotia, from where it was delivered to the project site. Dominion is now investing in a Jones Act-compliant ship, and rsted and Eversource have also inked a deal to build one. European companies are also participating in capacity auctions to invest in U.S. port infrastructure.

"That's why we're working to really develop that U.S.-based supply chain and this installation vessel is one of those steps," said Jeremy Slayton, a Dominion spokesperson.

rsted is also jointly developing one project with PSEG in New Jersey, the Garden State Offshore Wind Farm, and four large-scale offshore projects with Eversource the Bay State Offshore Wind, South Fork Wind Farm, Revolution Wind Offshore and Sunrise Wind Offshore Farm projects.

rsted declined a request for an interview for this story. But Michael Ausere, vice president for business development at Eversource, said that in 2015, the company began noticing the falling prices of offshore wind in Europe and found a natural partner in the Danish utility.

"We're talking about building a generation resource in a marine environment, and that's not something we've done before," he said. As important as rsted's experience in building offshore wind farms was its knowledge of the costs involved, he added.

Grzegorz Gorski, COO of Ocean Winds, the joint venture company founded last year by EDP Renovveis SA and Engie SA to pool their offshore wind operations, said risk-sharing partnerships are a necessity in offshore wind, where the cost of a single project can run into the billions of dollars.

"It's about putting your eggs in many baskets," Gorski said.

Ocean Winds is developing the Mayflower Wind Offshore Project off the coast of Massachusetts together with Royal Dutch Shell PLC and already co-owns offshore projects with companies including Mitsubishi Corp., Sumitomo Corp. and Repsol SA in Europe. In the U.S., Gorski said seabed leases are already so expensive that risk-sharing is even more important. Leases have so far run up to $135 million, in addition to rent payments, and prices are expected to rise further in future auctions.

"It's a nice chunk of money, and you are years away from [a final investment decision] without the guarantees that you will actually reach it," Gorski said. "Because of this, it's better to have half of one project than one project."

Ocean Winds' risk-sharing approach has been mirrored by others, said Meike Becker, another Bernstein analyst: Aside from BP and Equinor, Avangrid has brought in financial investor Copenhagen Infrastructure Partners on two of its projects, Vineyard Wind and Park City Wind Offshore, making the Danish investment firm another major player in the U.S. sector.

'We don't have a religion about joint ventures'

While rsted's approach has been to partner up with local utilities to break into the U.S. market, Becker said Iberdrola has a built-in advantage through Avangrid, its subsidiary, while EDPR and Engie already have substantial onshore operations in the country.

"These guys are actually very familiar with the U.S. So they're just sticking to their home market," she said.

Eric Thumma, Avangrid's interim head of offshore wind, said the company has been able to combine Iberdrola's experience in bringing projects all the way into operation with its own expertise on the U.S. market, pointing to a mutually beneficial relationship likely also envisioned by companies like rsted and Eversource.

In the future, Thumma said Avangrid could decide to pursue more projects on its own. The company already has another project announced without partners attached, the Kitty Hawk Offshore Wind Farm in North Carolina.

"Whether we do it with partners or alone is really going to be case by case, examining those specific lease auctions and where the market is going," Thumma said.

Others are similarly non-committal.

"We don't have a religion about joint ventures," said Dev Sanyal, BP's executive vice-president for gas and low carbon energy. "We look at companies and partners and, if there is a natural fit ... we do it."

'A huge market on paper'

Industry observers say BP paid a steep price for its entry deal with Equinor, which cost the company $1.1 billion and, aside from the two projects in New York and Massachusetts, also includes the possibility of additional developments. Other companies looking to get in might also be willing to pay a premium, given the scale and security promised by the market in the long term.

"You can see they wanted an entry into this market, so they paid a pretty high price, given the projects are not yet constructed," said Bernstein's Venkateswaran. "That might be reflected in the prices people are ready to pay [going forward]."

Sanyal said that getting access to land was an important factor in the company's decision to partner up with Equinor one of only a handful of companies to have already secured seabed rights. The last lease auction was held nearly two years ago and the industry is itching for more. A Bureau of Ocean Energy Management spokesman told S&P Global Market Intelligence that the agency is in "planning stages for additional wind energy areas in the Gulf of Maine, the New York Bight, offshore the Carolinas, California and Hawaii."

"It's a huge market on paper, but not that easy to capture it if you don't have a lease," Venkateswaran said. "So people sitting on top of land have an advantage."

Sanyal said he expects the market to get "a lot more competitive," given the attractive fundamentals. Companies that have yet to make a splash along the U.S. coastline but could be tempted to take a stake include European offshore heavyweights like RWE AG and oil major Total SE, as well as unlisted U.S. investors like Berkshire Hathaway Energy, according to Bernstein.

More West Coast centric developers could also join the fray as development areas expand, said Avangrid's Thumma.

"It's conceivable to see a few more players come into the field, particularly as the geographic focus changes," Thumma said. But he added that the significant entry hurdles of offshore wind would nonetheless limit the number of players, suggesting that the lines have been drawn to a large extent.

"You have to have some financial wherewithal to be in this market," he said.

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European developers build out dominance in US offshore wind race - S&P Global

Hold on to W&T Offshore, Here’s Why We Think It’ll Grow – Yahoo Finance

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W&T Offshore, Inc. WTI is likely to gain from its huge acreage position in the Gulf of Mexico. However, levered balance sheet and weak commodity prices are concerns.

Headquartered in Houston, TX, W&T Offshore is a leading oil and natural gas explorer, with operations primarily focused on resources located off the coast of Gulf of Mexico (GoM). This has enabled the company to develop significant technical expertise in the major prolific oceanic rift basin. As of Dec 31, 2019, it reported proved reserves of 157.4 million barrels of oil equivalent (MMBoe), up 87% from 2018-end reserves of 84 MMBoe. Total proved reserves of the firm comprise roughly 40% liquid.

Lets take a closer look at the factors that substantiate its Zacks Rank #3 (Hold).

The prolific oil and gas offshore fields in the GoM shelf have been primarily boosting the companys production since inception. Discoveries in those fields, located at a water depth of 500 feet, will likely boost W&T Offshores production further. The GoM provides unique advantages, including low decline rates, world-class permeability and significant potential reserves that are untapped.

W&T Offshore is growing its presence in the deep-water Gulf of Mexico fields, wherein production has increased more than 500% and proved reserves have surged nearly 900% over the past eight years. The company acquired interests in the prospective Heidelberg field in the deep-water Gulf of Mexico. Notably, it was the highest bidder on two blocks in the Gulf of Mexico Lease Sale 254. The lease sale incorporated deepwater Garden Banks block 782 and shallow water Eugene Island Area South Addition block 345. Moreover, the deep-water discoveries made in recent years have enhanced the companys prospects.

W&T Offshore closed the Mobile Bay acquisition from ExxonMobil last year. The assets, located in the eastern region of the GoM, include some onshore processing facilities adjacent to W&T Offshores existing properties. The move added net proved reserves of 74 MMBoe to the companys portfolio. Of the total reserves, the vast majority is proved developed and producing. Moreover, it closed the remaining 25% stake acquisition in the Magnolia Field during the first quarter. These acquisitions are expected to deliver significant synergies and cost savings to the company.

Story continues

Despite an adverse operating environment, W&T Offshore is managing to keep investors happy with positive adjusted EBITDA. In fact, it delivered positive earnings surprises in all the last four quarters, with an average of 731%. Moreover, the company decreased spending in early-2020 to ensure free cash flow generation.

W&T Offshore, Inc. price-eps-surprise | W&T Offshore, Inc. Quote

However, there are some factors holding back the stock.

As of Jun 30, 2020, W&T Offshore had a total debt of $624.2 million, with a cash balance of only $36.5 million, reflecting a weak balance sheet. This can hurt the company's financial flexibility.

The coronavirus pandemic has dented global energy demand, which has caused the shift of oil prices to the bearish territory. With liquids comprising 48% of total production volumes, the weak commodity pricing scenario might hurt the upstream business.

In the trailing 12-month period, it reported a negative free cash flow of $61 million. As commodity prices are not expected to improve anytime soon, the cash flow situation will be under pressure. We have to wait and watch how the companys actions will counter the situation.

Despite significant prospects, W&T Offshores balance sheet weakness and weak commodity price scenario are concerning.Nevertheless, we believe that systematic and strategic plan of action will drive its long-term growth.

Some better-ranked players in the energy space include DCP Midstream, LP DCP, Apache Corporation APA and Matador Resources Company MTDR. While DCP Midstream has a Zacks Rank #1 (Strong Buy), Apache and Matador Resources hold a Zacks Rank #2 (Buy). You can seethe complete list of todays Zacks #1 Rank stocks here.

DCP Midstreams bottom line for 2021 is expected to skyrocket 156.4% year over year.

Apaches bottom line for 2021 is expected to surge 84.3% year over year.

Matador Resources sales for 2021 are expected to rise 12.2% year over year.

Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.

These 7 were selected because of their superior potential for immediate breakout.

See these time-sensitive tickers now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportApache Corporation (APA) : Free Stock Analysis ReportWT Offshore, Inc. (WTI) : Free Stock Analysis ReportMatador Resources Company (MTDR) : Free Stock Analysis ReportDCP Midstream Partners, LP (DCP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

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Hold on to W&T Offshore, Here's Why We Think It'll Grow - Yahoo Finance

Norway launches offshore wind project | Article | KHL – KHL Group

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Construction has started on the Hywind Tampen offshore wind farm project, located 140km off the coast of Norway. It is set to be the worlds largest floating offshore wind farm.

The farm, representing a total investment of approximately 460 million, will comprise 11 8 MW Siemens Gamesa wind turbines, floating in waters of up to 600m in depth.

The wind farm will lie between two oil and gas fields Snorre and Gullfaks which are part-owned by Equinor, the developer of the Hywind project. It will have a total capacity of 88 MW and the electricity generated is expected to cover about 35% of the annual power needs of the gas fields.

Hywind Tampen will be the first floating offshore wind project to supply renewable power to oil and gas installations.

Equinor says a reduction in CO2 emissions of some 200,000 tonnes per year is also anticipated.

Norwegian engineering company Kvrner has been awarded the contract to deliver 11 floating concrete hulls for the project, and a Kvrner apprentice, Arne Linga, along with Norways Prime Minister, Erna Solberg, got construction underway at a recent ceremony, by starting the first cutting robot.

Equinor president and CEO Eldar Stre said of the project, Hywind Tampen is a new chapter in Norways narrative as an energy nation. With support from the Norwegian authorities, were not only building Norways first offshore wind project; were refining floating offshore wind technology along with the Norwegian supplier industry.

He added, Eighty percent of the worlds offshore wind resources are located in deep water areas and are available for floating offshore wind projects. If we can use projects like Hywind Tampen to make floating offshore wind competitive with other forms of energy, the technology will be able to deliver large-scale renewable power and contribute to a more sustainable global energy supply. A floating offshore wind market will also open up considerable industrial opportunities for Norwegian industry.

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Norway launches offshore wind project | Article | KHL - KHL Group

FACTBOX: Every UK home to be powered by offshore wind by 2030: PM – S&P Global

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Highlights

40 GW capacity target confirmed for 2030

Offshore covered 10% of demand in 2019

Project pipeline big enough, but grid challenge

London Every home in the UK -- Europe's third-largest economy -- will be powered by electricity from offshore wind farms within a decade, UK Prime Minister Boris Johnson said in a speech to the Conservative Party conference Oct. 6.

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Johnson said the government would raise its target for offshore wind capacity by 2030 from 30 GW to 40 GW, providing funding of GBP160 million ($207 million) for offshore wind ports like Teesside and Humberside.

The announcement will fuel debate on the viability of the government's targets and the long-term implications for pricing. The UK government is due to publish an energy white paper alongside a heat and buildings strategy this autumn.

The following are key facts around energy policy in the UK.

Offshore wind has become more competitive in the UK power sector with the cost of installation falling in successive auctions.

Platts Analytics forecasts UK demand to recover from COVID-19 losses by 2022, supported by electrification of transport. Forecasts for total UK demand in 2030 range from 300 TWh up to 322 TWh.

The 40 GW target is not new the government had confirmed the target in December 2019 but it is hugely ambitious.

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FACTBOX: Every UK home to be powered by offshore wind by 2030: PM - S&P Global

South Korean power company partners with DSME to develop offshore nuclear power plants – Splash 247

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South Koreas Kepco Engineering & Construction Company (Kepco E&C), a unit of Korea Electric Power Corporation, has entered into a memorandum of understanding with Daewoo Shipbuilding & Marine Engineering (DSME) to cooperate on the development of floating nuclear power plants.

Under the agreement, the two companies will jointly advance technology development for offshore nuclear power plants with the combination of Kepcos expertise in nuclear power plant design and DSMEs know-how in shipbuilding.

Kepco E&C has been developing Bandi-60, a small modular reactor (SMR) for offshore use, since 2016 and the company believes the development of a floating offshore nuclear power plant equipped with Bandi-60 is expected to gain momentum from the partnership.

The synergy between Daewoo Shipbuilding & Marine Engineerings excellent marine floatation design and manufacturing technology and the advanced nuclear technology of Korea Electric Power Technology is expected, said Yeom Hak-gi, director of Kepco corporate R&D subsidiary, the Korea Electric Power Research Institute.

In 2017, Chinese companies China National Nuclear Power (CNNP), Jiangnan Shipyard, Shanghai Electric Power, Shanghai Guosheng Group and Zhejiang Zheneng Electric Power established a joint venture to develop floating nuclear power stations. China planned to build 20 floating nuclear power stations to support offshore activities including oil and gas drilling and island development.

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South Korean power company partners with DSME to develop offshore nuclear power plants - Splash 247

Total Adds Another Floating Wind Project to Its Portfolio – Offshore WIND

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Total has bought a 20 per cent stake in the EolMed floating wind pilot project in France, located in the Mediterranean Sea, off the coast of Gruissan and near Port-La-Nouvelle.

The 30 MW EolMed will feature three MHI Vestas 10 MW turbines installed on Ideols Damping Pool floating foundation and is scheduled to be built in 2023.

The company announced the newest addition to its growing offshore wind portfolio after it joined several projects in the sector worldwide from the beginning of this year, most of which are using floating wind technology.

Most recently, the French energy major and oil giant entered the South Korean floating wind market by teaming up with Macquaries Green Investment Group (GIG) on the development of five floating wind farms. A few months earlier, Total announced it was buying a 51 per cent stake in the Seagreen offshore wind farm, currently being built in Scotland. Seagreens wind turbines will be installed on bottom-fixed foundations.

At the beginning of this year, the company revealed its joint floating wind project with Simply Blue Energy in Wales, the 96 MW Erebus wind farm which secured seabed rights this summer.

Announcing the buy-in into the French three-turbine EolMed pilot project, owned by Qair until now, Total said it was continuing to reinforce its position in the emerging sector of floating offshore wind, in which it wants to be one of the world leaders.

Floating offshore wind is a very promising segment in which Total notably brings its extensive experience in offshore projects, said Julien Pouget, Director Renewables of Total. Together with our partner Qair, we have the necessary resources to meet the technological and financial challenges that will determine our future success. I am delighted that Total can contribute to the emergence of this new sector in France.

In addition to floating wind farms, Total is also exploring the potential of powering offshore oil and gas platforms with floating wind, and has joined the national Floating Offshore Wind Centre of Excellence (FOWCoE) in the UK.

Buying into and developing offshore wind projects is part of Totals ambition to become a net-zero emissions energy company by 2050.

To reach that goal, the company is now building a portfolio of activities in electricity, and in particular in that produced by renewable sources, that could account for up to 40 per cent of its sales by 2050. Total said that by the end of this year its gross power generation capacity worldwide will be around 12 GW, including some 7 GW of renewable energy.

With the objective of reaching 35 GW of production capacity from renewable sources by 2025, Total will continue to expand its business to become one of the world leaders in renewable energies, the company states.

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Total Adds Another Floating Wind Project to Its Portfolio - Offshore WIND

DNV GL to Certify 11 MW MingYang Offshore Wind Turbine – Offshore WIND

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Chinese wind turbine manufacturer MingYang Smart Energy has signed an agreement with DNV GL for the Type Certification of MingYangs new MySE11-203 offshore wind turbine.

MingYangs recently announced model has a rated power of 11 MW and a rotor diameter of 203 metres.

The turbines 99-metre carbon-glass hybrid blades, MySE11-99A1, provide a swept area of 32,365 square metres.

According to MingYang, the MySE11-203 is the worlds biggest hybrid drive wind turbine, offering a 31 per cent higher annual energy production compared to its predecessor.

MySE11-203 turbine is designed for the challenging and harsh offshore environment. Partnering with DNV GL, the world-leading certification body, the cooperation between MingYang and DNV GL enters into a new stage for a long-term relationship, and highlights MingYangs commitment to maintaining the highest quality and performance standards for our offshore wind turbines. Its very important to certify our turbines and demonstrates they are fully compliant to the international industry standard and reliable, said Qiying Zhang, Executive President of MingYang.

MingYang said that the company is targeting the European and other international markets with the new turbine model.

The significant advantage of small-size and light-weight makes MySE a very good fit for both bottom-fixed offshore wind and floating offshore wind. Working closely with DNVGL and get the Type Certificate for MySE11-203 will provide strong confidence towards the clients, said Dr. Chenwei, General Manager of MingYang European Business & Engineering Center.

MingYang plans to install the prototype MySE11-203 turbine in 2021, and have the model commercially available in 2022.

DNV GL predicts that offshore wind will generate almost 9% of electricity globally by 2050, compared with 0.3% today, said Kim Mrk, Executive Vice President of Renewables Certification at DNV GL.

One important enabler of this trend are larger turbines and the entrance of floating wind. With its new 11MW turbine, MingYang will pave the way for participating in the fast growing offshore wind market with a turbine which is certified to the highest international safety and performance standards.

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DNV GL to Certify 11 MW MingYang Offshore Wind Turbine - Offshore WIND

Total acquisition marks entry into offshore floating wind farm sector in France – Splash 247

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French energy giant Total has acquired a 20% shareholding in the Eolmed floating wind farm pilot project, located in the Mediterranean off the coast of Gruissan in France.

Total said it is continuing to reinforce its position in the emerging sector of floating offshore wind, in which it wants to be one of the world leaders.Currently, Total is involved in offshore wind projects in South Korea and UK.

This announcement once again demonstrates the Groups ambition and willingness to innovate in the field of renewable energies. Floating offshore wind is a very promising segment in which Total notably brings its extensive experience in offshore projects. Together with our partner Qair, we have the necessary resources to meet the technological and financial challenges that will determine our future success. I am delighted that Total can contribute to the emergence of this new sector in France, said Julien Pouget, director of renewables of Total.

Total is looking tobuild a portfolio of activities in electricity, renewable in particular, that could account for up to 40% of its sales by 2050 as part of its ambition to get to net zero by 2050.

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Total acquisition marks entry into offshore floating wind farm sector in France - Splash 247

Thurston Moore on killer new music and the high order nihilism of Boris Johnson and Donald Trump – NME

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Art rock-pioneer Thurston Moore has just released his rapturously-received new solo album, By The Fire, which NMEs review hailed as containing some of his boldest and most invigorating work to date. Despite being released under his own name, its a collaborative effort that continues his creatively fecund partnership with his band that includes his old group Sonic Youths Steve Shelley and My Bloody Valentines Debbie Googe.

We caught up with Thurston for a quick chat about his new record, trying to inject positivity and escapism into turbulent world, and how he used quarantine as an opportunity to write a quasi-memoir called Sonic Life.

Last year, I put out a Spirit Counsel triple CD set featuring one extended instrumental composition per disc. I toured that for a year and half. There was no microphone onstage and I wasnt singing. While I wanted to continue that, I was missing more proper rock music those pop-rock nuggets. So I was trying to figure out how to do both things. I decided to write a response that dealt with Spirit Counsel, particularly the instrumental Venus the last song on the album which I figured would be my final say with that period of writing, before it was time to get back on the microphone. I started writing other songs that would be a balance between the Spirit Counsel material and the more proper pop stuff I could do.

When I was sequencing the record, it was right when lockdown was happening, and it allowed me to be more contemplative of what I wanted to present. I think it would have been a different record if it was more business as usual. I wanted the record to come out of the gate with a real happiness, and then be a bit more serious as it went along, and have this deliverance at the end with Venus. I feel the enforced isolation has given this record its vibe but it also meant I wanted it to be something with a sense of hopefulness and liberation as well.

Yeah and I think thats perfectly valid. Were all in the same boat and still dont know how this is going to develop and its all a bit unwieldy. Looking at the records coming out at the same time as mine, I see Public Enemys album [What You Gonna Do When The Grid Goes Down] which is a very activist record. Thats important and I would hope there are more direct-action voices like Chuck D. But at the same time, there should be work in resistance to all the negativity thats being enacted in the media and on the political stage.

To have resistance by creating work that has a sense of creative impulse, joy, and is against divisiveness. Its about recognising and dignifying the marginalised on the planet right now. And understanding that migration is a very natural occurrence to not demonise it as something that is a threat. There is a nihilism that goes on in the highest levels whether its the Brexiteering Boris Johnsons or the racist dog-whistling of Donald Trump. None of this spelt out clearly on the record, but just calling it By The Fire is about communication. Theres a duplicity in that title.

Thurston Moore (Photo by Emma McIntyre/Getty Images)

The title was taken from me seeing Julien Temples film Joe Strummer: The Future Is Unwritten, where he had musicians who knew Joe when he was in The 101ers sitting round a campfire talking about the Joe Strummer they knew before he joined the punk rock brigade. I thought that was a moving and wonderful vision. And then [I was] equating it with people having the courage and urge to go out into the streets physically while theres a pandemic going on, to raise their voices against oppression to the point where theyre so angry that there are fires erupting in the street. I wanted to get that across in the title alone.

I think my styles transition into each other fairly organically. If I give any distinction to anything, its whether I play in the context of free improvisation or in composition. But even in the history of Sonic Youth, the idea of incorporating methods of free improvisation into a composed piece have always been at play. I like to work in both genres, but Im careful not to get tripped up without being fully-focussed on one genre, you can be a little junior sometimes, and so its a bit of a high-wire act. The idea in free improvisation music that there are no leaders and theres no hierarchy in players is something I find alluring I bring those ideas into the democracy of my band.

I never tell the players in my group what to play, just as I never told anybody in Sonic Youth what to play. When Id bring a song to Sonic Youth, I could never tell them what to play Id only make suggestions. Having my name on the marquee [as a solo artist], I should say: This is exactly what I want, do it or Ill get somebody else who can. But I dont I never want to be in a situation where I am anything more than somebody who suggests things.

Ive been embracing it. Its allowed me to focus on a project Ive considered for a number of years, which is writing about my history of coming to New York City as a teenager and finding my footing as a musician. I wanted to write about the process of that and what was informing, not only myself, but community of people I was involved with. In this last couple of months, I was able to put pen to paper and write about this world of inspiration.

Its not only just Well heres my life story, as I wanted to get away from the ego of it and talk about the information so when you first see a picture of Iggy and the Stooges in 1973 in a magazine, why did it have such an effect on you? Why did that photograph of something that was so subversive in the music scene appeal to somebody from a safe and protected middle-class lifestyle? I wanted to write about being in the milieu of the CBGBs explosion, and essay what was happening in the flurry of those years especially between 77 and 79 when this incredible seismic shift happened in underground culture. Ive been focussing on putting this manuscript together that Ill hopefully publish in a years time. Im calling it Sonic Life for want of a better title!

By The Fire is out now. Stay tuned for an upcoming Thurston-starring edition of our longstanding weekly Does Rock N Roll Kill Braincells?! feature, where the 62-year-old is quizzed on his eventful life.

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Thurston Moore on killer new music and the high order nihilism of Boris Johnson and Donald Trump - NME

What’s On Tonight: ‘We Are Who We Are’s Most Euphoria’-Like Episode – UPROXX

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If nothing below suits your sensibilities, check out our guide to What You Should Watch On Streaming Right Now.

We Are Who We Are (HBO, 10:00pm EST) So far, this shows followed a dreamy narrative, but tonight, sh*t gets real, Euphoria-style. The entire episode is essentially a hedonistic party that follows a quickie marriage for a soldier on the fast-track to deployment. Sure, this relationship will last, right? Probably not, but its a party that no one will forget and helmed by Call Me By Your Name director Luca Guadagnino, whos taking his first stab at a TV series with less nihilism than the Zendaya-starring series.

David Attenborough: A Life on Our Planet (Netflix documentary) This doc follows the life of the man whos seen more of this Earths national state than any other person over the course of 90 years. Challenges on every continent shall be addressed while the movie hopes to spread optimism to future generations.

Filthy Rich (FOX, 9:00pm EST) Kim Cattrall returns to TV in a super-soapy turn, and this week, Gingers live, televised baptism is causing an uproar. Elsewhere, Jasons lies that were also exposed on TV are causing troubles.

Manhunt: Deadly Games (CBS, 10:00pm EST) This week, Richard Jewell fights back against both the FBI and the press thats hounding him. As thats ongoing, ATF Agent Embry discovers a crucial link to a serial bomber. Youve heard the story of the fallout from the 1996 Atlanta Olympics, now witness the TV dramatization (as opposed to the sensationalized movie version) of one of the most complex manhunts on U.S. soil.

The Third Day (HBO, 9:00pm EST) Jude Law and Naomie Harris star in this series, which sees Helen surprising her daughter with a trip to Osea island. However, theres a booking SNAFU that seems more than a little bit suspicious.

Late Show With Stephen Colbert Jon Bon Jovi and the rest of Bon Jovi, Laura Benanti

Late Night With Jimmy Fallon Daniel Craig, Billie Eilish, Finneas

Late Night With Seth Meyers Jessica Chastain, John Slattery

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What's On Tonight: 'We Are Who We Are's Most Euphoria'-Like Episode - UPROXX

Targeted Therapy Options Transform AML Paradigm – OncLive

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An increased understanding of the biologic intricacies of acute myeloid leukemia (AML) has led to the identification of more than 100 driver mutations associated with the disease, opening the door for targeted therapies with clinically meaningful outcomes for patients who are not candidates for intensive chemotherapy regimens.1

AML is 1 of the most deadly and difficult cancers to treat. Chemotherapy remains the treatment mainstay for most patients; however, for those who experience an initial response, refractory disease is common.

Additionally, patients may not be candidates for induction chemotherapy because of fitness status, which includes factors such as age, performance status, and comorbidities.

During a recent OncLive Peer Exchange, a panel of experts in leukemia discussed therapies that are reshaping the AML treatment landscape for some of the most vulnerable patient subsets.

They highlighted the use of the BCL-2 inhibitor venetoclax (Venclexta) in combinations as well as the emergence of the epigenetic drugs ivosidenib (Tibsovo) and enasidenib (Idhifa) for patients with IDH mutations. In addition to providing an overview of the clinical trial data for these drugs, they shared their insights into how they are using these agents in clinical practice and addressing treatment-related adverse events (AEs) to maximize outcomes.

Venetoclax: A New Standard of Care

In November 2018, the FDA granted accelerated approval to venetoclax for use in combination with the hypomethylating agents (HMAs) azacitidine (Vidaza) and decitabine (Dacogen) or with low-dose cytarabine (LDAC) for the treatment of newly diagnosed AML in adults aged at least 75 years or those with comorbidities that preclude the use of intensive induction chemotherapy.2 Approval was based on data from 2 open-label nonrandomized trials: M14-358 (NCT02203773), which assessed venetoclax in combination with azacitidine (n = 67) or decitabine (n = 13), and M14-387 (NCT02287233), which assessed venetoclax in combination with LDAC (n = 61), including in patients previously treated with an HMA for an antecedent hematologic disorder.

In these studies, 37% (n = 25) of those receiving venetoclax plus azacitidine achieved complete remission (CR), with a median of 5.5 months in remission; 54% (n = 7) of those receiving venetoclax plus decitabine achieved CR, with a median of 4.7 months in remission; and 21% (n = 13) of those receiving venetoclax plus LDAC achieved CR, with a median time in remission of 6 months.2

Most of us who treat AML have been very excited these past couple of years to see what venetoclax can do for some patients, Daniel Pollyea, MD, MS, said. However, he noted that approval was based on phase 2 data in noncomparative studies, which is why data in a randomized setting were highly anticipated. Most of us who have worked in AML know this is a critical test, a time when a lot of prior therapies have not been able to surmount this challenge in a randomized setting, he said. Pollyea proceeded to discuss the randomized, phase 3 VIALE-A (NCT02993523) and VIALE-C (NCT03069352) studies, which evaluated venetoclax in combination with azacitidine or LDAC, respectively.

VIALE-A Study

The VIALE-A study randomly assigned 431 treatment-nave patients with confirmed AML who were ineligible for standard induction therapy because of age ( 75 years), comorbidities, or both 2:1 to azacitidine plus venetoclax (n = 286) or azacitidine plus placebo (n = 145).3 At a median follow-up of 20.5 months, the median overall survival (OS) was 14.7 months in the venetoclax arm and 9.6 months in the placebo arm (HR for death, 0.66; 95% CI, 0.52-0.85; P < .001). The venetoclax arm also had a significantly higher incidence of CR compared with the placebo arm (36.7% vs 17.9%; P < .001), including composite CR (CR or CR with incomplete hematologic recovery; 66.4% vs 28.3%; P < .001).

Most of us who treat this disease were relieved and very happy to see the data for the venetoclax arm. [The agent] really performed very consistently with what we have come to expect, based on the phase 2 data. Those of us who have been using this agent frequently in the past year and a half, based on the approval, are reassured that this likely is the new standard of care in this setting, Pollyea said. Throughout the discussion, the other panelists agreed that clinicians should consider venetoclax plus azacitidine the new standard of care for patients with AML who are not candidates for induction therapy because of age or comorbidities.

Weve been stuck in 28% to 30% response land for older patients with AML for decades. Now thats not true. The 60% or greater response rates across cytogenetic groups, across molecular groups, are real. They happen. Theyre quick. You dont have to wait for 100 cycles of azacitidine to see those responses. Its usually after 1 [cycle], sometimes 2, Gail J. Roboz, MD, said.

Based on the VIALE-A data, moderator Harry Paul Erba, MD, PhD, noted that HMA monotherapy should not even be considered for our patients anymore. He also explained that almost two-thirds of US patients, half of whom are aged at least 65 years, have historically not undergone AML treatment because of the relative lack of OS benefit seen with HMA monotherapy. In such untreated patients with AML, he said, the median survival is approximately 2 months, but with venetoclax plus azacitidine, older patients can have a median OS of 15 months. [Subsequently], its not 15 months versus 9 or 10 months; its 15 months versus 2 months. We have to get away from the therapeutic nihilism in older patients with AML. In fact, the greatest survival benefit is seen in those over the age of 75 years, he said.

VIALE-C Study

The VIALE-C study randomly assigned 211 treatment-nave patients with confirmed AML who were ineligible for standard induction therapy because of age ( 75 years), comorbidities, or both 2:1 to LDAC in combination with venetoclax (n= 143) or placebo (n= 68).4 In the primary analysis, at a median follow-up of 12 months, the venetoclax arm had a 25% reduction in the risk of death, with a median OS of 7.2 months compared with 4.1 months in the placebo arm, but the finding did not reach statistical significance (P = .11).5 However, after a median follow-up of 17.5 months, the venetoclax arm demonstrated a 30% reduction in the risk of death, with a median OS of 8.4 months versus 4.1 months in the placebo arm, a finding that did reach statistical significance (P = .04).4

Based on a press release and some other information, [we had] the impression that the study would not be positive when compared with low-dose cytarabine alone. [But] when patients were followed for a little longer than the original planned analysis, there was a survival benefit, Pollyea said. He noted several reasons why the VIALE-C study may have shown less OS benefit than the VIALE-A study, such as the inclusion of a more challenging patient population. He noted that more than 33% of patients in the study had previously received an HMA for a myelodysplastic syndrome, and such patients had been excluded from the VIALE-A study. Regardless, Pollyea said the most important takeaway is that this regimen provides another treatment option. For us in the leukemia world, theres no way thats not a good thing.

Roboz, who was a coauthor of the VIALE-C study, said that although the findings are overshadowed by the azacitidine data, LDAC plus venetoclax is still a useful regimen. The reason youre not seeing the benefit is more because of disadvantageous study design with respect to the hazard ratio and statistics rather than because the regimen doesnt have any benefit, she said. Although venetoclax plus azacitidine is taking its place as the new standard of care, Roboz said she would still try LDAC plus venetoclax for patients, including those who are unlikely to benefit from the addition of more HMAs.

Venetoclax Safety Issues

The most common AEs ( 20%) observed with venetoclax in combination with azacitidine, decitabine, or LDAC in clinical trials were nausea, diarrhea, thrombocytopenia, constipation, neutropenia, febrile neutropenia, fatigue, vomiting, peripheral edema, pyrexia, pneumonia, dyspnea, hemorrhage, anemia, rash, abdominal pain, sepsis, back pain, myalgia, dizziness, cough, oropharyngeal pain, and hypotension. In the VIALE studies, the most frequently reported AEs were hematologic events (Table 1).3,4

Table 1. Prevalence of Hematologic AEs Observed With Venetoclax in the VIALE Studies3,4

Of note, venetoclax has a warning regarding tumor lysis syndrome; however, it appears to be uncommon in patients with AML. Its important to watch and to be careful, especially with the first few doses, but its much less common than what you would see with chronic lymphocytic leukemia, Amir Fathi, MD, said.

He noted that his greatest concern with venetoclax is the lack of consistency in how it is used in combination with HMAs in community practices. I cant tell you how many patients weve admitted to our ICUs [intensive care units] who have been treated in the community with HMA/venetoclax cycle after cycle after cycle and end up with severe marrow suppression, infections, and bleeding complications, he said.

Fathi added that although some nuances in treatment will always exist, a more consistent approach is needed.

He said that in his practice, he starts with 4 weeks of venetoclax plus the HMA and then conducts a bone marrow biopsy to assess blast level. If the marrow is empty, I allow count recovery [by holding venetoclax] and then resume. If it is full of blasts, I go with the second cycle, he said. If blast depletion occurs repeatedly, Fathi added, the intensity of treatment should be decreased, noting that he usually reduces treatment to 2 or 3 weeks in such cases.

Additionally, he said clinicians must consider concurrent medications, particularly the azoles (eg, isavuconazole sulfate [Cresemba], voriconazole [Vfend], and posaconazole [Noxafil]). You have to reduce the doseotherwise youre going to get in trouble with marrow suppression, he said.

Roboz agreed with Fathi: Please dont be on day 60 of venetoclax without a bone marrow biopsy. Please dont add an antifungal. If youre going to add it, youve got to down the dose. At least certain basic principles must be absolutely applied, even if the subtleties of exactly what day you do the marrow and exactly which antifungal cant be mandated.

Targeting IDH Mutations

Approximately 20% of patients with AML have IDH mutations, with IDH1 mutations found in 6% to 16% of patients and IDH2 mutations found in 8% to 19%.6 These mutations are associated with a poor prognosis.6 Before treatments targeting IDH mutations were developed, we [had] been pummeling [such patients] for decades with lots of different chemotherapy combinations without success, Roboz said.

The emergence of IDH inhibitors enables clinicians to treat patients with IDH mutations with a single-agent regimen that provides high response rates and durable remissions, often lasting 6 to 12 months, she said. Based on such findings in the relapsed setting, the IDH inhibitors ivosidenib, a potent IDH1 inhibitor, and enasidenib, a potent IDH2 inhibitor, have also been explored as treatments in the frontline setting. Both agents are currently FDA approved for adult patients with relapsed/refractory AML, with ivosidenib also approved as a first-line treatment.7,8 Several studies are currently examining these agents in combination treatments, including with venetoclax and azacitidine. An advantage of both agents is that they are taken orally, which may be particularly beneficial for some patients during the ongoing coronavirus disease 2019 (COVID-19) pandemic.

Ivosidenib

Ivosidenib received FDA approval in May 2019 as a first-line treatment in patients with a susceptible IDH1 mutation, as detected by an FDA-approved test, who are not candidates for intensive induction chemotherapy because of age ( 75 years) or comorbidities.9 Approval was based on the open-label, single-arm, multicenter AG120-C-001 study (NCT02074839), which included 28 such patients. Of these patients, 12 (42.9%) achieved CR and CR with partial hematologic recovery (CRh) and 7 of the 17 transfusion-dependent patients (41.2%) achieved transfusion independence lasting at least 8 weeks.9

These are patients who might not actually have been offered anything. They were the patients who are older and may have fallen into the nihilism trap. And yet here they are in a durable remission, Roboz said.

Adding the HMA azacitidine to ivosidenib has also shown benefit. In a phase 1b/2 study (NCT02677922), the combination resulted in a high rate of clinical response with molecular remissions in patients ineligible for intensive chemotherapy.10 Investigators are assessing the combination for such patients in the phase 3 AGILE trial (NCT03173248).11 Participants are being randomly assigned 1:1 to ivosidenib 500 mg daily plus azacitidine 75 mg/m2 subcutaneously or intravenously for 7 days in 28-day cycles or to matched placebo plus azacitidine.11 The study is enrolling patients globally; however, enrollment has slowed because of COVID-19, and it is now expected to be completed in 2021.12

Further, investigators are conducting a phase 1/2 study (NCT03471260) of ivosidenib in combination with venetoclax with or without concomitant azacitidine in patients with treatment-nave (n = 5) and relapsed (n = 9) IDH1-mutated AML.13

Roboz said venetoclax has demonstrated efficacy in both IDH subgroups, making it an appealing partner for IDH-directed combination therapy. In the study, the composite CR (CR plus CR with incomplete hematologic recovery plus CRh) was 100% in the treatment-nave cohort and 75% in the relapsed/refractory cohort.13 After a median follow-up of 3.5 months, the median OS was not reached in treatment-nave patients and was 9.7 months in the patients with relapsed/ refractory disease.13

Enasidenib

Erba said that presentations by Courtney D. DiNardo, MD, MSCE, on phase 2 trial data involving azacitidine alone versus azacitidine plus enasidenib were among the most interesting studies at the European Hematology Association and American Society of Clinical Oncology conferences.

The study (NCT02677922) included 101 patients with newly diagnosed IDH2-mutated AML who were randomly assigned 2:1 to the azacitidine/enasidenib combination (n = 68) or azacitidine monotherapy (n = 33).14 Both cohorts had a median OS of 22 months; however, the combination therapy arm had improvements in event-free survival (17.2 months vs 10.8 months), overall response rates (71% vs 42%), median duration of response (24.1 months vs 12.1 months), and complete response rates (53% vs 12%).14

Fathi warned about drawing conclusions about the OS data from this study because they are from the phase 2 portion of an open-label phase 1/2 randomized trial and not from a phase 3 randomized trial such as the VIALE studies. He noted this is an important consideration when thinking about combination therapies (ie, venetoclax/HMAs vs IDH inhibitor/HMAs). His preference is to use venetoclax/HMA in younger patients and those who can tolerate the combination, reserving the IDH inhibitors as a subsequent treatment option. However, if I think a patient may tolerate the HMA/IDH inhibitor better, I generally go with that. I like to have options so that I can prolong a patients survival with sequential therapy. There are no data, obviously, to guide that, but thats just been my general approach with these patients, he said.

After the Peer Exchange, Bristol Myers Squibb, the manufacturer of enasidenib, reported a further development with the drug.15 Enasidenib plus best supportive care (BSC) was not found to significantly improve OS in patients with IDH2-mutated relapsed/refractory AML in the phase 3 IDHENTIFY trial (NCT02577406), thereby failing to meet the studys primary end point.15 In the study, enasidenib plus BSC was compared with conventional care regimens, including BSC alone, azacitidine plus BSC, LDAC plus BSC, and intermediate-dose cytarabine plus BSC. A full evaluation of the IDHENTIFY data is ongoing and is expected to be presented at a future medical meeting.15

IDH Inhibitor Safety

The most common AEs observed with ivosidenib and enasidenib in clinical trials are listed in Table 2.7,8 The panelists said they do not undertake dose adjustments when they observe hyperbilirubinemia from inhibition of UGT1A1 in patients treated with enasidenib. Its a measure of patient adherence, Mark J. Levis, MD, PhD, said. Roboz agreed and explained that stopping therapy in some cases would be a mistake.

Table 2. Most Common AEs ( 30%), Boxed Warning Associated With Ivosidenib and Enasidenib7,8

They also noted that QT prolongation has been observed with ivosidenib. Although uncommon, Guillain-Barr syndrome was identified in some of these cases. In our phase 1 experience, Guillain-Barr [occurred] in 2 of about 250 patients, Erba said. Levis said he has also seen such a case; thus, clinicians should be aware of this association.

Although their AE profiles are a bit different, a potential AE that both IDH inhibitors share is differentiation syndrome, a potentially life-threatening complication that is noted in a boxed warning in their prescribing information.7,8 If you look at study after study with IDH inhibitors, either as monotherapy or a combination with induction for HMA, youll see approximately 12% to 20% of patients getting differentiation syndrome, Fathi said, noting it is a difficult entity to tease out because it has a vague constellation of symptoms, many of which may be associated with other causes. He explained that common symptoms seen in patients with IDH-associated differentiation syndrome include unexplained fever, respiratory issues, pleural effusions, pericardial effusions, rash, mild azotemia, bone pain, and adenopathy.

Importantly, although clinicians should try to rule out secondary causes of these symptoms, if they cannot do so easily or quickly, they should treat the patients as though they have differentiation syndrome, Fathi explained. [In such cases], initiation of steroids is important because these conditions can escalate, he said, recommending dexamethasone 10 mg twice daily for such patients. Then once patients get better, and they should if it is differentiation syndrome, there should be a tapering down of the dose over time, he said.

Unlike the differentiation syndrome observed in patients with acute promyelocytic leukemia treated with all-trans retinoic acid, IDH inhibitor-related differentiation syndrome in patients with AML is delayed. The median time of loss was around 12 weeks. So anywhere between 10 days and 6 months, you can potentially get it. If you stop treatment and resume it later, you can get recurrent episodes of differentiation syndrome, Fathi said. He concluded by stating that the condition sometimes occurs with other AEs, including leukocytosis, disseminated intravascular coagulation, and tumor lysis syndrome, and that such cases will require additional measures, such as the addition of hydroxyurea in the setting of concurrent leukocytosis.

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Targeted Therapy Options Transform AML Paradigm - OncLive

David Bowie predicts the rise of social media in vintage clip from 1999 – Far Out Magazine

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There are many things that David Bowie is a pioneer of. With a set of extraordinary musical personas, the singer set a precedent for a new invigoration of theatricality in the machismo world of rock. With his remarkable performance on stage as part of The Elephant Man, a play in which Bowie took the lead role, the singer became a foundational stone in musicians trying their hand at acting. Above all, his determination to continue evolving artistically has laid the blueprint for the ultimate purist pursuit. But, as well as all that, he was also a pioneer of the internet.

BowieNet, launched on September 1st, 1998, was the Starmans very own Internet Service Provider. The singer, with his expert vision, saw the blossoming of the internet as something precious and powerful at the same time. He told Jeremy Paxman in 1999, The internet is now, it carries the flag of being subversive and possibly rebellious. Chaotic, nihilistic, as Bowies interrupted by a snort of derision from his interviewer, the singer puts him right, Oh yes it is!. During the interview, Bowie also talks about the demystification between the audience and the artist which he thinks is one of the internets most powerful tools. Considering hed set up his own BowieNet as a private ISP the previous year, he was well placed to agree.

For just 10 a month, you could not only have access to high-speed internet, whatever that was in 1998, but also the man himself. A press release of the time suggesting users would have a direct connection to David Bowie, his world, his friends, his fans, including live chats, live video feeds, chat rooms and bulletin boards. In 2020, we may look back at this with a heavy dose of scepticism. After all, were 22 years down the line of internet nihilism and the darkness of some corner of this here world wide web can be frightening. But, it turns out, Bowie really meant it.

In 1999, as part of the promotion for his album Hours, Bowie was interviewed by ZDTV. Bowie opens up about secretly speaking to his fans via BowieNet, telling the interviewer At least two or three times a week, I go into the rooms on my site, anonymously generally, but sometimes I have a name that they know me by. That alias would be Sailor, a fitting moniker for the singer. He would sue the handle to share Bowie updates as well as answering fan queries, even providing rave reviews of new releasesArcade Fires Funeral earned a particularly brilliant response. But mainly, he just used it to be closer to his fans.

Telling his interviewer that he is often online he says I participate a lot more than they think [laughs]. Yeh, I got several addresses, so it would be very hard for them to I know some of you know what they are, he says with a smile, staring down the barrel of the lens. The interviewer asks about Bowie the voyeur, suggesting it may be a strange situation to sit in anonymously on a conversation about yourself. But here Bowie not only predicts the rise of social medias community but the value of an online community.

No, thats the point, he says, the best thing thats happened with our site. I think because it has produced a kind of community feel, that one doesnt become the focus of everything. He reflects, Its amazing how much you get into their lives and find out about what theyre doing and whats interesting them other than being part of the BowieNet.

It showcases, yet again, what we already knew about Bowiehe has incredible foresight. The singer can see the blossoming of communities that social media can provide. While the platforms are not anywhere near perfect, its hard to ignore Facebook, Twitter, Instagram and others ability to connect perfect strangers over mutual interests. Its the foundations laid down by countless early-internet chat rooms and one Bowie quickly took up as a vital piece of his own fandom.

As the conversation continues, Bowie reveals that his site had a dense population of artists and, it so happens, webmasters and those directly working on the very earliest websites. He also encourages artistic submissions continuously, receiving a plethora of both written word, and in graphics on the visual side. He effuses about the members of BowieNet Theyre an amazing bunch of people, they really are great, they really are. He evens throws a little shade at competitors, Ive been through a lot of the so-called fansites, of other artists, and Im really proud of my lot because they got a good sense of humour.

The interviewer agrees you should be proud he says, suggesting Bowie had achieved what he had set out to docreate a community. It feels like a virtual community. Im not quite sure how you differentiate between that and a real-time community. Theres something added by not actually knowing who the other person really is in reality and only having a sense of that person, its almost metaphysical. Its an extraordinary feeling. I enjoy it very much because I dont quite understand and Ive always enjoyed the things I dont understand. BowieNet would go on to be an award-winning ISP.

While Bowie doesnt quite predict every facet of the rise of social media, neglecting to mention the giant impact it has had on our political landscape. But he does clearly see it as a powerful and potent way of connection, while the singers viewpoint is through rose-tinted glasses, its hard not to reminisce about the innocence of early-internet age chat rooms, dial-up connection soundtracks and the chance of accidentally speaking to David Bowie without ever knowing it.

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David Bowie predicts the rise of social media in vintage clip from 1999 - Far Out Magazine