Policymakers must ensure the supply of conventional energy sources alongside lower carbon ones as the energy transition marches on, according to Saudi Arabian Oil Co. (Aramco) CEO Amin Nasser. The head of the state-owned oil behemoth has been warning of the threats to global energy security posed by underinvestment in oil and natural gas. “Many…
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South Korea Aiming to Boost Nuclear Output Amid Tight Global Energy Markets
Despite South Korea’s plan to boost the use of nuclear energy in the country’s power generation mix by 2030, LNG will continue to play an important role in the government’s new energy strategy. President Yoon Suk-yeol was elected in March and is a strong supporter of nuclear energy. He plans to reduce the country’s dependence…
Origin Planning Exit From Most Upstream Assets, but Keeping Stake in Australia Pacific LNG
Sydney-based Origin Energy Ltd. plans to divest its interest in Australia’s Beetaloo Basin and end its involvement in a joint venture (JV) to develop unconventional natural gas resources in the play as it continues to focus on energy transition initiatives. Origin – which also has power generation assets and utility businesses in Australia, Papua New…
Europe Searching for Alternative Benchmark Amid TTF, LNG Disconnect
Proposals by the European Commission (EC) to tame soaring energy costs don’t alter the role natural gas plays on the continent and may do little to rein in the volatility that has ruled the market this year. The EC proposed revenue caps on some power producers, a windfall tax on the excess profits of fossil…
CPV Proposes 1,800 MW Plant for Natural Gas-Rich West Virginia Using CCS
Competitive Power Venture Inc. (CPV) has proposed a 1,800 MW combined-cycle natural gas power plant in West Virginia that could allow the Appalachian Basin production leader to create and distribute more low-carbon power. CPV announced the potential $3 billion investment in Charleston, WV, earlier this month alongside Sen. Joe Manchin (D-WV). Maryland-based CPV also disclosed…
California RNG Startup to Expand North American Platform
California real estate and infrastructure firm Cim Group is creating an energy start-up with a renewable natural gas (RNG) foundation by acquiring Mas Energy LLC’s development platform and project portfolio. Terreva Renewables was formed to incorporate the Mas development team and production from seven landfill natural gas projects. The price of the acquisition was not…
What Does California’s Energy Meltdown Say About the U.S. Power Market? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow, which delves into California’s energy shortages, brought about by extreme weather and drought, and how those issues are playing out in the transition to a net-zero carbon future. In the podcast, NGI’s Shaylon Stolk, senior energy analyst, discusses the underlying issues that…
Gevo’s Proposed SAF Facility Dubbed ‘Largest Economic Investment’ Ever in South Dakota
Gevo Inc. is preparing to build a commercial-scale sustainable aviation fuel (SAF) production facility, Net-Zero 1 (NZ1) in South Dakota, in which the biofuels company plans to incorporate green hydrogen produced from water and renewable natural gas. “As all the elements come together, from farmers growing sustainable corn feedstock, to renewable wind power and renewable…
Van Beurden Stepping Down from Shell, with Sawan Taking Over in 2023
Shell plc CEO Ben van Beurden, who joined the supermajor 39 years ago, is stepping down at the end of the year, with Wael Sawan, who directs Integrated Gas, Renewables and Energy Solutions, tapped as the new chief. Van Beurden took the helm in 2014. He plans to remain a board adviser until mid 2023.…
BP’s Takeover of EDF Energy Services to Expand U.S. Natural Gas, Power Business
BP plc, the top North American natural gas marketer, is building its estimable U.S. commercial and industrial retail power and gas arm with the purchase of Houston-based EDF Energy Services (ES). The agreement would provide “opportunities…to enhance and deliver additional lower carbon integrated energy solutions,” according to BP. The purchase of ES also is likely…