Carbon

Gov. Tim Walz of Minnesota’s Democratic-Farmer-Labor Party has signed into law clean energy goals that target a carbon-free electricity grid by 2040.  State House File 7 (HF7) amended Minnesota’s Renewable Energy Standard statute. It added a target for electric utilities, generation and transmission cooperatives, and municipal power agencies to generate or procure by 2035 at…

The Alberta government announced a first shortlist Thursday of eligible bidders for provincially owned geological formations needed for carbon capture, utilization and storage (CCUS) sites. “If developed, these hubs will help safely grow and diversify Alberta’s energy sector and reduce emissions for multiple industries,” said the provincial government.  CCUS projects would reflect a key provincial…

Chevron Corp. expects to spend 20% more in 2022 on capital and exploratory efforts than it did this year to support “higher returns and low carbon” efforts, the supermajor said. Organic capital expenditures (capex) in the coming year are set at $15 billion, at the low end of its $15-17 billion initial budget plan but…

A roundup of news and commentary from NGI’s LNG Insight European carbon prices hit record highs this week. The allowances purchased by the power and manufacturing sectors for emissions closed at 69.32 euros/metric ton ($78.25) on Friday.  Stronger gas prices, colder weather and rules for an international carbon market reached at COP26 have all prompted…

Tellurian Inc. is in no hurry to sell all of the 27 million metric tons/year (mmty) of liquefied natural gas (LNG) capacity from the proposed Driftwood export project in Louisiana even though there’s an opportunity to do so, according to CEO Octávio Simões. The company has agreed to supply 9 mmty of LNG from the…

New York environmental regulators last week announced they had denied required air permits for two proposed natural gas-fired power plants as the projects did not align with the state’s environmental goals. Department of Environmental Conservation (DEC) Commissioner Basil Seggos said the 437 MW Astoria Replacement Project and the 536 MW Danskammer Energy Center project do…

Bids to secure engineering, procurement and construction contracts for a carbon capture and storage (CCS) expansion at the LaBarge natural gas facility in Wyoming are advancing, ExxonMobil said Thursday. LaBarge to date has captured an estimated 6-7 million metric tons (mmt) of carbon dioxide (CO2), making it the largest project of its kind in the…

Chevron Corp. is aiming by 2050 to reach net-zero carbon in its equity upstream operations, with more capital set to be poured into alternative energies and improved efficiencies across the traditional global oil and natural gas businesses. The San Ramon, CA-based integrated major has adopted a net-zero pledge within 30 years for Scope 1 (direct)…

Underground carbon disposal has to increase 172-fold to hit the global greenhouse gas (GHG) cleanup target set by the International Energy Agency (IEA), according to an industry review by consulting firm Sproule Associates. The role for carbon capture, utilization and storage (CCUS) as outlined by IEA in August, spells “tremendous growth and revenue generation,” said…