Joe Biden’s inauguration as US President today heralds major policy shifts on trade with China and climate goals. China’s Phase 1 trade commitment to buy an additional $52.4 billion of energy from the US by end-2021 will remain in place, though analysts say it looks “difficult to achieve.”
Bakken Midstream, infrastructure developer in North Dakota, has signed its first ethane supply term sheet with Williston Basin Energy Center, a large baseload power plant. Novel combustion technology allows the Williston plant to run on ethane which is otherwise flared in the fracking process.
Fossil fuel production in the United States will stay flat this year as rising coal output offsets falling gas production, the US administration’s Short-Term Energy Outlook (STEO) finds. Starting from 2022, production of all fossil fuels is set to increase though growth will stay below the 2019 peak.
The US Department of Energy’s Office, staffed by the outgoing President Trump, has launched a report on impacts of the so-called “ill-conceived ban on hydraulic fracturing,” proposed by the incoming administration of President-elect Joe Biden. The ban will allegedly cost millions of jobs and make gas and power prices surge.
The United States has informed German officials its plans to levy sanctions on the Russian pipe-laying vessel ‘Fortuna’ and its owner, KVT-RUS, effective today. ‘Fortuna’ is building the Gazprom-led Nord Stream 2 pipeline, opposed by Washington as it raises Germany’s reliance on Russian gas.
Edinburg-based Spectrolytic has developed an in-line measurement system for oil condition monitoring. The system streams key parametric data of the oil to a machine control centre, customer intranet or cloud which provides the customer with real-time process control.
Siemens Energy has teamed up with Abu Dhabi state investment firm Mubadala to establish a hydrogen value-chain in the United Arab Emirates (UAE). Together with Masdar, they will build a demo plant powered by a solar PV electrolyser to produce hydrogen to fuel cars, planes and ships.
Germany’s largest insurer Allianz has made plans to restructure €800 billion in investments to lower emissions related to equities and corporate bonds by a quarter by 2025, compared to 2019. The measures are part of the insurer’s interim target as it aspires to reach climate neutrality by 2050.
General Electric has been contracted to deliver more than 1 GW of power gen equipment for the Tongyeong combined cycle power plant in South Korea. Construction is set to begin in 2021 by Hanwha E&C with a view to starting commercial operations in 2024.
Shares of Siemens Energy have shed around 6% in value in German trading after GE filed a lawsuit against its German rival, alleging the theft of trade secrets for gas turbines. GE told the US district court in Virginia that Siemens received the secret insight from a Dominion Energy employee.
Alkaline fuel cell producer AFC Energy is collaborating with Ricardo hydrogen applications. The two US-based companies agreed to jointly develop and commercialise hydrogen fuel cell products and services with an initial focus on marine, rail and stationary power generation.
Price-sensitive Chinese buyers are shunning spot LNG for February delivery after Beijing put a lid on domestic prices. Utility buyers in China are reluctant to pay anything above $15 per MMBtu given that they can also revert to pipeline gas, imported from Russia and Turkmenistan, or domestic supplies.