A “pronounced shift” to renewables, combined with a shift to electricity and hydrogen, led BP plc to reduce its annual forecast for global natural gas as a primary energy source. The annual Energy Outlook was introduced on Monday by chief economist Spencer Dale during a webcast. The economics team led by Spencer Dale used Rapid,…
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Construction Work in Oil, Natural Gas Surpass Renewable Jobs, Says Building Trades Union
Construction workers in the energy sector view oil and natural gas jobs as more plentiful and longer lasting, as well as providing better pay, health and pension benefits, than similar jobs in the renewables segment, according to two surveys commissioned by North America’s Building Trades Unions (NABTU). Through the surveys, one quantitative and one qualitative,…
Oil, Gas Companies Quickly Expanding Renewables to Operations, Says IHS Markit
As part of efforts to reduce carbon emissions associated with operations, oil and gas operations are in the early stages of being fueled by renewable energy, according to global critical information provider IHS Markit. Analysis by IHS Markit shows that while renewable energy is playing a minor role in oil and gas operations, it has…
Northeast Natural Gas Infrastructure Woes Continue As Dominion Scuttles ACP, Sells Transmission, Storage Assets for $9.7B
Dominion Energy closed out the holiday weekend with two bombshell announcements, disclosing Sunday that it is selling its natural gas transmission and storage assets to an affiliate of Warren Buffett’s Berkshire Hathaway Inc. in a transaction valued at $9.7 billion. It also has decided, along with joint-venture partner Duke Energy, to cancel the 600-mile, 1.5…
Amazon Launching $2B Climate Investment Fund, Expects to Reach 100% Renewable Goal Five Years Early
Amazon.com, Inc. said Tuesday it expects to reach its previously announced goal of running on 100% renewable energy by 2025, five years ahead of schedule. It also is launching a $2 billion fund to invest in products, services and technologies that decarbonize the economy. The e-commerce and technology giant had previously committed to reach 80%…
NGI The Weekly Gas Market Report
Fossil Fuel Demand Said Possibly Peaking as Energy Transition Escalates, Boosted by Covid-19
The Covid-19 pandemic may spur longer lasting changes that have accelerated the energy transition from fossil fuels, with investments in renewables now growing at a fast clip, according to analysts.
SoCalGas Testing Technology to Convert Renewable Power into Natural Gas
Southern California Gas Co. has partnered with a German company to research the commercial viability of technology capable of converting renewable electricity into pipeline quality natural gas.
NGI The Weekly Gas Market Report
Natural Gas Expected to Replace Most Coal Capacity Lost to Shrinking Utility Demand
Amid efforts to reduce greenhouse gas emissions from the U.S. power grid, natural gas-fired generation will replace most of the thermal-coal electric-generation capacity that’s heading toward retirement, according to a new report from Moody’s Investors Service.
Songs Closure May Take $3B, 50 Years
California energy officials last week continued to wrestle with where to find more natural gas, renewables and purchased power sources for electric generation as they dealt with closing San Onofre Nuclear Generating Station (Songs). Southern California Edison Co.’s (SCE) decision to shutter the 2,200 MW facility could cost $3 billion cost for up to 50 years (see NGI, June 10).
Western States Study Gas-Power Grid Coordination
With the advent of more renewables and more retirement of coal-fired power plants, an almost three-decade-old coalition of energy regulators and planners from throughout the western states has authorized a study of the level of coordination among the natural gas and electrical systems in the region.