Net Zero

Global energy investments are set to rebound by nearly 10% this year to $1.9 trillion, reversing the 2020 decline, but the energy transition is moving more funds toward electricity and renewables and away from fossil fuels, according to the International Energy Agency (IEA). Researchers said investments are returning to pre-crisis levels, with a shift continuing…

In an effort to further its goal of achieving net-zero carbon by 2050, Duke Energy is taking part in a study to convert retiring coal units into long-duration, zero-emissions energy storage systems. The North Carolina-based utility is studying the socioeconomic, environmental and operational benefits of integrating Malta Inc.’s 100 MW, 10-hour pumped heat energy storage…

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI associate editors Kevin Dobbs and Andrew Baker discuss the presidential election and its impacts for the natural gas and oil industry.  Dobbs and Baker discuss President-elect Biden’s priorities with respect to energy, climate and infrastructure, as well as…

Mexico, the United States and Canada have benefitted from the energy integration of North America through greater energy security and improved standards of living, according to IHS Markit Vice Chairman Daniel Yergin. Speaking Tuesday at the La Convención Nacional Petrolera virtual conference organized by Mexican oil and gas association Asociación Mexicana de Empresas de Hidrocarburos…

Suncor Energy Inc., one of Canada’s largest oilsands independents, has agreed to join a group of oil and gas heavyweights to back Svante Inc. as it works to accelerate commercializing more carbon capture technologies. The latest $25 million infusion is designed to fund technology to reduce greenhouse gas (GHG) emissions in industrial applications and to…

Global buyers are increasingly scrutinizing how liquefied natural gas (LNG) is produced and delivered, with an eye on the environment. A proposed export terminal in Louisiana could be the first to produce net-zero emissions LNG. G2 Net Zero LNG Chairman Chas Roemer believes a more responsibly produced LNG is imperative as both the environment and…

Houston-based Occidental Petroleum Corp. is expecting to slowly back away in the coming years from its primary oil and natural gas developments to zero in on ways to manage carbon emissions, according to CEO Vicki Hollub. In a recent interview with IHS Markit Vice Chairman Daniel Yergin, Hollub said carbon capture operations could become the…

Equinor SA on Monday set a goal to become a net-zero energy operator in 30 years, joining goals set out by fellow European-based oil and natural gas majors. The Norway-based energy major still expects to deliver production growth of around 3% on average from 2019 to 2026 through “competitive and resilient projects.” The net-zero ambition…

Recent announcements by the leaders of China and Japan to achieve carbon neutrality in the coming decades could initially increase demand for U.S. liquefied natural gas (LNG), but that demand could be reduced as early as 2030, analysts said. Japanese Prime Minister Yoshihide Suga on Monday said the country would aim to become a “carbon-neutral,…