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Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
Venture Global Can Build Carbon Capture at Facility After Getting Permits - U.S. liquefied natural gas (LNG) company Venture Global LNG (Arlington, Virginia) will be ready to build a proposed carbon capture and storage (CCS) facility for its LNG export plants in Louisiana as soon as the permits are ready, Chief Executive Michael Sabel told Reuters on Wednesday. "We don't need any new technology to do it. We don't need any additional outside funds to do it. We're able to do it as soon as the permitting process allows us to go forward," Sabel said in an interview at the Reuters Events Global Energy Transition conference. Venture Global said in late May that it plans to build the CCS project at its Calcasieu Pass and Plaquemines export plants in Louisiana. If you subscribe to Industrial Info's Global Market Intelligence (GMI) Production Database, click here for related project reports. (Reuters)
ETHANE
U.S. Ethane Exports Surge - U.S. ethane exports reached an all-time high in March 2021 after a new export facility started operations and the tanker fleet that carries liquefied ethane overseas expanded. Ethane exports surpassed 370,000 barrels per day (BBL/d) in March, including more than 280,000 BBL/d of waterborne exports, according to the U.S. Energy Information Administration (EIA). The EIA expects growth in U.S. ethane exports to accelerate this year and next from an annual average of 281,000 BBL/d in 2020 to annual averages of 374,000 BBL/d in 2021 and 447,000 BBL/di n 2022, according to its June Short-Term Energy Outlook. (Reuters)
ENVIRONMENTAL
PSEG Accelerates Net-Zero Emissions Goals - New Jersey power and gas company Public Service Enterprise Group Incorporated (NYSE:PEG) (PSEG) (Newark) said Thursday it has accelerated its net-zero greenhouse gas ambitions from 2050 to 2030. The new target from the group, whose assets include New Jersey's largest gas and electric utility, is one of the most aggressive net-zero goals set by any energy company in the world. PSEG is in the process of selling its non-nuclear fleet, including 6,750 megawatts of fossil generation, while exploring investments in offshore wind. (Reuters)
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About IIR Energy
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), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
LNG
Venture Global Can Build Carbon Capture at Facility After Getting Permits - U.S. liquefied natural gas (LNG) company Venture Global LNG (Arlington, Virginia) will be ready to build a proposed carbon capture and storage (CCS) facility for its LNG export plants in Louisiana as soon as the permits are ready, Chief Executive Michael Sabel told Reuters on Wednesday. "We don't need any new technology to do it. We don't need any additional outside funds to do it. We're able to do it as soon as the permitting process allows us to go forward," Sabel said in an interview at the Reuters Events Global Energy Transition conference. Venture Global said in late May that it plans to build the CCS project at its Calcasieu Pass and Plaquemines export plants in Louisiana. If you subscribe to Industrial Info's Global Market Intelligence (GMI) Production Database, click here for related project reports. (Reuters)
ETHANE
U.S. Ethane Exports Surge - U.S. ethane exports reached an all-time high in March 2021 after a new export facility started operations and the tanker fleet that carries liquefied ethane overseas expanded. Ethane exports surpassed 370,000 barrels per day (BBL/d) in March, including more than 280,000 BBL/d of waterborne exports, according to the U.S. Energy Information Administration (EIA). The EIA expects growth in U.S. ethane exports to accelerate this year and next from an annual average of 281,000 BBL/d in 2020 to annual averages of 374,000 BBL/d in 2021 and 447,000 BBL/di n 2022, according to its June Short-Term Energy Outlook. (Reuters)
ENVIRONMENTAL
PSEG Accelerates Net-Zero Emissions Goals - New Jersey power and gas company Public Service Enterprise Group Incorporated (NYSE:PEG) (PSEG) (Newark) said Thursday it has accelerated its net-zero greenhouse gas ambitions from 2050 to 2030. The new target from the group, whose assets include New Jersey's largest gas and electric utility, is one of the most aggressive net-zero goals set by any energy company in the world. PSEG is in the process of selling its non-nuclear fleet, including 6,750 megawatts of fossil generation, while exploring investments in offshore wind. (Reuters)
About IIR Energy
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), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
