Qatar leveraging LNG lull

• Latest episode features Chesapeake Energy’s Jim Grant

• We talk new energy ventures, geothermal, CCS and more.

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Microsoft to buy 10,000 tons of biochar carbon removal credits from Bio-Logical

• Bio-Logical partners with Microsoft to deliver 10,000 tons of carbon removal credits.

• Collaboration involves a large biochar facility in Africa, marking one of the continent’s largest single purchases of biochar credits.

• Bio-Logical aims to sequester 1 million tons of CO2 annually by 2030 and support 1 million smallholders.

• Biochar recognized as a durable carbon removal solution with potential for wide deployment.

• Collaboration expected to benefit climate, agriculture, and rural livelihoods in Africa.

Antora Energy raises $150 million Series B for thermal battery tech

• Antora Energy secures $150 million Series B funding led by Decarbonization Partners to accelerate production of factory-made thermal batteries for industrial decarbonization.

• Investment round includes participation from Emerson Collective, GS Futures, The Nature Conservancy, and a subsidiary of NextEra Energy Resources, LLC, along with existing investors.

• Antora’s technology leverages renewable electricity to heat solid carbon blocks, delivering zero-emissions energy to industrial customers at scale and temperatures required for large operations.

• The company’s thermal batteries utilize thermophotovoltaic (TPV) technology to convert stored heat directly into electricity efficiently.

• Antora bridges the gap between renewable energy and industrial manufacturing, offering zero-emissions heat and power solutions with batteries manufactured in the United States.

• Antora’s achievements include launching commercial-scale thermal batteries, opening a U.S.-based manufacturing facility, and achieving breakthrough efficiency in TPV technology.

Idemitsu Kosan, Mitsubishi, and Swiss firm Proman collaborate on U.S. ammonia production

• Japanese oil refiner Idemitsu Kosan, trading house Mitsubishi Corp, and Swiss firm Proman collaborate on U.S. ammonia production project

• Japan sees ammonia as vital for transitioning to a net-zero economy, aiding decarbonization in various sectors

• Ammonia production involves hydrogen from natural gas and nitrogen from air; burning it emits no CO2 but production can release emissions if fossil fuels are used

• Project in Lake Charles, Louisiana aims to produce 1.2 million metric tons of low-carbon ammonia annually by fiscal year 2030-31

• Idemitsu plans to build an ammonia import terminal at Tokuyama plant, supplying over 1 million tons of low-carbon ammonia by 2030 to industries like chemicals and steel

• Mitsubishi considers converting part of its LPG terminal in Namikata into an ammonia terminal, supplying low-carbon ammonia for industrial use

• Japanese companies intend to bring clean ammonia produced by the project to Japan via these terminals

• Proman specializes in methanol, fertilizer, and other natural gas-derived products

QatarEnergy expanding LNG production capacity 85% by 2030

• QatarEnergy proceeding with new LNG expansion project, “North Field West,” to raise LNG production capacity to 142 million tons per annum (MTPA) by the end of the decade, an 85% increase.

• Appraisal drilling and testing confirmed extension of productive layers of Qatar’s North Field towards the west, allowing for the development of new LNG production project in Ras Laffan.

• Additional gas quantities estimated at 240 trillion cubic feet, increasing Qatar’s gas reserves to over 2,000 trillion cubic feet and condensates reserves to over 80 billion barrels.

• New LNG project from North Field’s western sector to have a production capacity of about 16 MTPA, leading to a total LNG production of about 142 MTPA.

• QatarEnergy continues work on North Field production expansion projects, including North Field East and North Field South projects.

WSJ – Chevron’s Hess acquisition at risk due to Exxon’s pre-emptive rights on Guyana oil project

• Chevron’s $53 billion acquisition of Hess at risk due to possible challenge from Exxon

• Exxon and Cnooc claim pre-emptive right to match Chevron’s bid for Hess’s stake in Guyana oil project

• Value of Chevron’s acquisition largely tied to Hess’s 30% stake in Exxon-led consortium in Guyanese waters

• Dispute could derail Chevron’s deal for Hess, though Exxon’s counteroffer uncertain at this stage

• Chevron and Hess dispute Exxon and Cnooc’s right to counteroffer, engaging in discussions

• Potential arbitration option if talks fail; exact terms of joint operating agreement (JOA) unclear

• Exxon has majority share in Guyana project, continues drilling with partners, expects substantial value increase

• Venezuelan military presence near Guyana’s border raises tensions; Guyana’s oil production growth significant

• Exxon estimates Guyana project to hold nearly 11 billion barrels of oil and gas, plans for increased production

• Chevron’s acquisition aligns with trend of American oil majors focusing on Western Hemisphere amid global conflicts and divestment in Asia/Africa

This is either a big deal or a total nothing burger. Not sure which yet.

Sandbrook Capital commits $460 million to rPlus Energies for renewables

• Sandbrook Capital commits up to $460 million to rPlus Energies, a leading private renewable energy developer.

• rPlus is developing a diversified portfolio of over 15-gigawatts (GW) of renewable energy generation and storage projects.

• Initial investment enables rPlus to bring 1 GW of shovel-ready generation and storage online in the near-term.

• rPlus is also leading pumped storage hydropower projects, with two projects in the final licensing stage and eight others in earlier stages of development.

Elliott backs Hyperion to deploy $1 billion in mining assets

• Elliott Investment Management, through its new venture Hyperion, is targeting mining assets valued at over $1 billion.

• Hyperion will pursue acquisitions across all types of mining assets, including base and precious metals, as well as commodities used in electric vehicles.

• Former Newcrest Mining CEO Sandeep Biswas will lead Hyperion.

• The mining industry is a focal point for policymakers and investors due to its role in supplying raw materials for electric vehicles and renewable energy infrastructure.

• Demand for key materials like lithium, nickel, cobalt, and copper is projected to significantly increase by 2035, according to a study by S&P.

• Nokia commits to net zero greenhouse gas emissions by 2040

• US Government’s Request For Information On Marine Carbon Removal

• Carlyle hires Goldman’s former top commodities analyst Jeff Currie

• DTE Energy seeking 1,075 MW in renewable energy projects in Michigan

   

• Sunya Stories with ESGEN’s Nader Daylami

• Sunya Stories with Chesapeake’s Jim Grant

• Sunya Spotlight profile on Oxy’s STRATOS DAC project.

• Last Thursday’s edition – Exxon and EnLink eye gulf coast

   

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.