Chevron and MOECO agree to unlock Japan’s significant geothermal power generation capacity
Key Insights and Signals in Energy & Utilities
Centre Setup and Expansion Stericycle expands in Warren Stericycle provides disposal services for medical and other waste internationally and is investing millions in expanding its facility in Warren. Site work has already begun to prepare for the 35,000-square-foot expansion to the existing incinerator facility on Pine Avenue SE just south of downtown. Read More>>Deals Poland’s PGNiG signs 10-year capacity deal with Klaipeda LNG The company announced it had secured regasification capacity at Lithuania’s liquefied natural gas (LNG) terminal in Klaipeda in a 10-year deal. The deal with terminal operator Klaipedos Nafta will allow PGNiG to import 6 terawatt hours of LNG, equivalent to over 500 million cubic meters of natural gas annually, via the terminal through 2032. Read More>> Mainova and ENGIE conclude power purchase agreements ENGIE will supply Mainova with renewable electricity from nine German wind farms that no longer receive funding under the Renewable Energy Sources Act (EEG). The wind farms will thus remain in place after the end of the EEG funding for the energy transition. The power purchase agreements with ENGIE will expand their trading portfolio of climate-neutral electricity. Read More>>Merger and Acquisition Kinder Morgan is selling half its stake in an LNG facility in Georgia for USD 565 Mn Kinder Morgan sold half its stake in a liquefied natural gas facility in Georgia to an undisclosed buyer and would use the funds to pay short-term debt and buy back shares. The stake sale in the Elba Liquefaction Company (ELC) comes when demand for U.S. LNG exports is booming as Europe loses access to Russian fuel. Read More>> Canada’s Enbridge buys U.S. green power firm Tri Global Enbridge acquired Tri Global Energy (TGE) for USD 270 Mn and assumed its debt. The all-cash deal strengthens Enbridge’s renewables portfolio, including offshore wind farms in Europe and solar projects supplying power to its oil and gas pipelines in North America. Read More>> Devon Energy acquires Eagle Ford Bolt-On Devon Energy acquired Validus Energy, an Eagle Ford operator, for a total cash consideration of USD 1.8 Bn, less purchase price adjustments. Current production from the acquired assets is approximately 35,000 Boe per day and is expected to increase to an average of 40,000 Boe per day over the next year. Read More>>Partnerships Chevron and MOECO to collaborate on advanced geothermal technology Chevron and MOECO will collaborate to explore Japan’s technical and commercial feasibility of advanced geothermal power generation. They will study geothermal resource potential across Japan and will evaluate the effectiveness of Advanced Closed Loop (ACL) technology for a future joint pilot project in Japan. Read More>> Masdar and RWE entered a partnership The two companies signed the MoU to explore collaboration on developing offshore wind projects in various key markets. Under the terms of the MoU, Masdar and RWE Renewables will explore the development of offshore wind projects in several countries and explore further project opportunities that both parties identify. Read More>>Executive Movement New Jersey Resources names Ginger Richman Vice President of NJR Storage and Transportation The company appointed Ginger Richman as VP of Storage and Transportation for NJR Midstream Company. This wholly owned subsidiary owns and operates high-quality natural gas infrastructure assets around the country. Read More>> Darrell Brown named Ecolab President and COO Darrell R. Brown, executive vice president and president of Global Industrial, will become president and chief operating officer. Brown, 59, has served as executive vice president and president of the Global Industrial group since 2019. Read More>>
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Latest Industry Insights from Draup Braindesk
Exploration and Production
TotalEnergies provides renewable hydrogen energy with extensive storage and delivery to satisfy the demands of the biofuel manufacturing process.
TotalEnergies aims to lower the carbon intensity of the energy products used to optimize power generation and satisfy the increase in demand for energy worldwide.
TotalEnergies develops its production and distribution through a network of Bio-CNG/Bio-LNG stations to advance renewable gas production.
Power Plant Solutions
TotalEnergies focuses on creating cutting-edge technology that converts compressed air-powered equipment from methane-powered equipment, as well as the largest battery-based energy storage and innovative plastics made from recycled polypropylene. Service providers with rich expertise in Power Plant Solutions would be the winners.
Funding Alert
Hydro One Invests USD 5 Mn to strengthen power system and future growth in Perry township
Hydro One rebuilt its Emsdale Distribution Station to improve reliability and resiliency while also increasing capacity to support future growth in the community as part of its investment plan to renew and replace aging infrastructure in the province. Read more>>
Startup Spotlight
Company – H2GO Total Funding– USD 8.64 Mn About: H2GO Power is an award-winning spin-out company from the University of Cambridge developing safe and low-cost hydrogen production and storage technologies. Its mission is to bring affordable, reliable energy to millions across the globe in a green way for large social and environmental impact. Read more>>
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