Coterra Energy, Siemens Gamesa: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

POWER
Seimens Gamesa Inks $1.3 Billion Deal with ScottishPower - An offshore windfarm in the southern part of the North Sea will feature turbines from Siemens Gamesa (Brande, Denmark) after the company signed a supply agreement with ScottishPower (Glasgow, Scotland). The deal announced November 11 is for 64 of Siemens Gamesa's SG 14-236 DD turbines that will be installed at East Anglia Two, a windfarm located slightly more than 20 miles off the Suffolk coast. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more by viewing the project report. (Power Magazine)

U.S. Power Use to Rise to New Highs in 2024, 2025 - U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will rise to 4,101 billion kilowatt-hours (kWh) in 2024 and 4,185 billion kWh in 2025. That compares with 4,000 billion kWh in 2023 and a record 4,067 billion kWh in 2022. (Reuters)

CORPORATE
Coterra Expands Permian Assets - Exploration and production company Coterra Energy Incorporated (NYSE:CTRA) (Houston, Texas) revealed on Wednesday that it has agreed to acquire assets from Franklin Mountain Energy (Denver, Colorado) and Avant Natural Resources (Denver) for a total consideration of $3.95 billion. The transaction includes $2.95 billion in cash and $1.0 billion in Coterra common stock, with adjustments to the purchase price anticipated. The acquisitions are set to bolster Coterra's presence in the Permian Basin, particularly in New Mexico. The company expects the deals to close in the first quarter of 2025. (Investing.com)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).