A New Carbon Connection

A New Carbon Connection

In late 2016, Texas became home to the nation’s only—and world’s largest—carbon capture project at a coal-fired power plant that emitted more CO2 than any other in the nation. This was The Big Test and hopes played high. Almost as high as the $1 billion price tag that limited retrofits to only one of four coal-fueled units. Texas-based NRG Energy tapped Japan’s Mitsubishi Heavy Industries for its promising KM CDR Process™ to be applied at a commercial scale at the company’s WA Parish power plant, later renamed Petra Nova. Long story short, while the technology performed to expectations, NRG last year was forced to mothball the facility citing low oil prices that made captured carbon for use in enhanced oil recovery operations uneconomical. Back to square one for Mitsubishi. But this time with gas. Reese Energy Consulting today is following the latest news from NextDecade and Occidental, which have inked an agreement with Mitsubishi for the design, license, and performance guarantee of its KM CDR tech at NextDecade’s planned Rio Grande LNG facility.

 

NRG Energy

NRG Energy, Inc. is a large American energy company, dual-headquartered in Princeton, New Jersey and Houston, Texas. It was formerly the wholesale arm of Northern States Power Company, which became Xcel Energy, but became independent in 2000. NRG Energy is involved in energy generation and retail electricity.

www.nrg.com

What do you think? Learn more about REC and our natural gas and LNG services at www.ReeseEnergyConsulting.com.

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Renewable Rice

Renewable Rice

The headlined proxy war in 2018 between two natural gas “machines” is practically stuff of legend. A year before, Pa.-based EQT acquired Rice Energy for $8.2 billion, creating the nation’s largest natural gas producer. But there was a caveat to the deal; namely, a pledge by EQT that the combined company would operate more efficiently, spend less, and make more. But in short order, the merger fell into failure. EQT’s stock price plunged 42% to the tune of $4 billion. So, the Rice Brothers came calling along with shareholder insistence to boot bosses, displace board members, and elect Toby Rice as EQT’s new CEO. Suffice it to say, the Rices know how to produce conventional gas profitably. Now, they plan to take renewable gas to the stratosphere. REC today is following the latest from Rice Acquisition Corp., which has purchased Aria Energy and Archaea Energy for $1.27 billion. Combined, the two will be sworn in as the nation’s largest producer of RNG captured from landfills, with a dozen projects in place, 20 more in the works, and plans to triple output in three years.

 

EQT Corporation

EQT Corporation is a leading independent natural gas producer with an evolutionary focus on our future. EQT has operations in Pennsylvania, West Virginia and Ohio and is dedicated to responsibly developing our world-class asset base in the core of the Appalachian Basin. EQT is making strides toward becoming the best producer by creating long-term value for all stakeholders, including employees, landowners, communities, industry partners and investors.

www.eqt.com

What do you think? Learn more about REC and our natural gas marketing services at www.ReeseEnergyConsulting.com.

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Sacre Bleu

Sacre Bleu

The risks assumed by producers operating in far-flung lands are well known. But when chaos suddenly erupts, their response to the human toll goes largely unnoticed. Reese Energy Consulting today is following the latest events unfolding in Asia and Africa where French energy giant Total has been swept up in two concurrent geopolitical and humanitarian crises. The drama began Feb.11, when the Myanmar military staged a government coup resulting in the deaths of 520 and the arrest of more than 3,000. Total pays $4 million a month in taxes on its offshore natural gas operations. Half of the gas is used to generate electricity for 5 million local people. CEO Patrick Pouyanne says the company has little choice but to continue production and pay the military to protect local staff and ensure electrical power. Total has pledged $4 million to human rights associations. On Mar. 24, militants invaded a Mozambique village killing dozens near Total’s $20 billion LNG project. The company has since provided refuge for 10,000 villagers, 15+ tons of food, and has evacuated as many as 1,000 a day mainly by boat.

 

Total SE

Total is a broad energy company that produces and markets fuels, natural gas and electricity. Their 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, their ambition is to become the responsible energy major.

www.total.com

What do you think? Learn more about REC and our range of natural gas and midstream services at www.ReeseEnergyConsulting.com.

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