Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : ABB (Asea Brown Boveri) ADR -- Ignore unavailable to you. Want to Upgrade?

To: Skywatcher who wrote (14)	8/23/2007 1:25:15 PM
From: Skywatcher	Read Replies (1) \| Respond to of 106

ABB wins $72-million order for oil-platform cable Power link from Norwegian mainland to help Statoil avoid CO2 emissions Zurich, Switzerland, June 8, 2007 – ABB, the leading power and automation technology group, has won an order worth $72 million from Statoil, the Norwegian oil company, to build a power link for a new production platform in the North Sea. The 98-kilometer underwater link from Mongstad in Norway to the Gjøa platform will eliminate the need for traditional generation solutions. The use of a subsea cable and power from a new power plant in Mongstad will avoid about 230,000 tons of carbon dioxide emissions per year when operating at full capacity. “Delivering electricity from the mainland provides reliable power supplies with low environmental impact. It also reduces cost compared to electricity produced at sea,” said Peter Leupp, head of ABB’s Power Systems division. “These clear benefits have made it a popular solution for offshore platforms since we completed the first installation in 2003.” The 115-kilovolt cable with a capacity of 40 megawatts will be the world’s longest power link bringing alternating current to a floating installation. The three-core polymeric insulated (XLPE) cable, with an intregrated optical fiber cable for general communication purposes, is scheduled for completion by 2010, when the platform becomes operational. ABB high-voltage XLPE subsea cable has low electrical losses, is resistant to oil, solvents and abrasions, and has excellent tensile strength. ABB has delivered more than 2,300 kilometers of XLPE subsea cable to projects around the world since production began in the 1960s.