Switzerland-based Climeworks has partnered with Kenyan project developer Great Carbon Valley (GCV) to explore large-scale direct air capture and storage (DAC+S) projects in Kenya, aiming to utilize Climeworks’ advanced DAC technology and Kenya’s potential for permanent carbon mineralization to store CO2 underground, with the potential to remove up to one million tonnes of CO2 from the atmosphere.
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Federal Energy Regulatory Commission genehmigt das Port Arthur LNG Phase 2 Erweiterungsprojekt von Sempra Infrastructure
The Federal Energy Regulatory Commission (FERC) has approved Sempra Infrastructure’s Port Arthur LNG Phase 2 expansion project in Texas, which aims to double the liquefaction capacity of the existing facility from 13 million tonnes per annum to 26 million tonnes per annum by adding two more liquefaction trains, an LNG storage tank, and a marine berth. Sempra’s recent acquisition of pore space and surface rights for the proposed Titan Carbon Sequestration project has the potential to capture carbon emissions from both Phase 1 and Phase 2 projects. The CEO of Sempra Infrastructure sees the FERC permit as a significant milestone that advances the global energy transition and boosts natural gas production in the United States. The Port Arthur LNG Phase 2 project, along with the ongoing construction of Phase 1, positions Sempra as a key player in the US LNG industry, contributing to the country’s energy goals and potential carbon capture efforts.
The global industrial gases business in 2022 has been significantly impacted by the Ukraine conflict and the ongoing decarbonization drive, resulting in a year-on-year growth rate of 12.6% and a valuation of $96 billion. The conflict has caused disruptions in the transportation of gas from Russia to Europe and a shortage of CO2, leading to increased prices and a focus on alternative sources. Governments and industry bodies are promoting carbon capture and utilization, while the energy transition has spurred hydrogen-related projects and the decommissioning of carbon-intensive plants. The market in Eastern Europe is expected to decline in the short term but stabilize and grow in the future.
Asian spot LNG prices have risen by $1 this week due to strong buying activity from China and India, as well as easing inventory levels in Japan and higher oil prices. Meanwhile, European LNG prices have slid due to increased supply levels in Norway and mild weather forecasts for northwest Europe.
Hamburg-based hydrogen producer, Eternal Power, is collaborating with local partners in northern Chile to identify suitable areas for large-scale green hydrogen plants, taking advantage of the region’s abundant renewable energy resources, such as intense solar radiation and consistent wind patterns, making it an ideal location for green energy production.
New Fortress Energy is nearing completion of Mexico’s first floating LNG plant, marking a significant milestone in the country’s efforts to become a key player in LNG production and export.
Amogy, a Brooklyn-based company, is advancing in the field of ammonia-based, emission-free high-energy-density power solutions.
An Australian union alliance has reached an agreement with Chevron, ending strikes at the company’s two major LNG projects. The agreement includes improvements in pay, job security, rosters, and career progression. Despite the strikes, LNG shipments were not disrupted. Chevron has aligned its pay terms with Woodside’s, addressing the union alliance’s demands. This resolution is expected to reduce industrial action in Western Australia’s offshore LNG sites.
Hydropower generation in Asia has declined due to extreme weather conditions and lower rainfall, leading to power shortages in major economies. To compensate, fossil fuel-fired power generation has increased, resulting in elevated carbon emissions and environmental concerns. Efforts to conserve water and shift towards renewables like solar and wind power have been made, but their limitations and the need for further scaling pose challenges in fully compensating for the decline in hydropower. Ensuring a reliable and sustainable energy mix will be crucial for meeting growing power demand and addressing environmental concerns in Asian economies.
ADIPEC 2023, an upcoming event in Abu Dhabi, will focus on decarbonization and the future of energy, aiming to drive innovation and collaboration for cleaner and more reliable energy solutions.