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LNG
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Sinopec has agreed to take a 5% stake in a train with an 8 million tons per year processing capacity in Qatar’s North Field East LNG export project (online in 2026) to increase China’s energy security.
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This marks the first time China has directly backed an LNG plant in Qatar is part of a strategy to secure long-term gas supply deals.
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Qatar is the second-largest supplier of LNG to China after Australia.
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The North Field East project will increase Qatar’s LNG export capacity to 110 million tons per year from 77 million tons.
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Other investors in the project include ConocoPhillips, Shell, TotalEnergies, Exxon Mobil, and Eni.
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Sinopec signed a $60 billion contract in November to buy 4 million tons of LNG per year from the same project.
INDUSTRIAL DECARBONIZATION
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Liberty has launched Liberty Power Innovations (LPI), an integrated alternative fuel and power solutions provider for remote applications, with an initial focus on compressed natural gas (CNG) supply, field gas processing and treating, and well site fueling and logistics.
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Liberty’s suite of digiTechnologies utilize natural gas to remotely generate electricity and power next-generation digiFleet services.
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LPI will supply fuel to Liberty and the rest of the industry as CNG and treated field gas are currently in limited supply.
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Liberty has acquired Siren Energy, a Permian-focused natural gas compression and CNG delivery business, to accelerate LPI’s expansion.
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LPI exemplifies Liberty’s vertical integration strategy alongside sand, logistics, design, and manufacturing capabilities.
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Liberty was an early driver in the industry shift from diesel to natural gas technologies, and LPI bolsters Liberty’s technology transition by vertically integrating fueling and power services.
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Liberty CEO Chris Wright stated that owning power generation and natural gas fuel supply for fleets ensures execution at the highest level, and LPI adds to their vertical integration strategy.
CARBON-FREE ENERGY
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NET Power has selected Zachry Group to provide Front-End Engineering Design (FEED), followed by Engineering, Procurement, and Construction (EPC) services for the construction of its first utility-scale power plant, which will be the world’s first large-scale gas-fired power facility with near-zero emissions.
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Zachry Group is the first EPC Partner licensed by NET Power, and the FEED work is underway in Zachry’s Houston Engineering office and is expected to be completed in 2024. EPC work is planned to commence shortly thereafter, and the facility is expected to come online in 2026.
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NET Power’s standard modularized utility-scale design approach is expected to rapidly drive down capital costs for subsequent plants and enable more plants to be produced each year.
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The construction and operation of NET Power’s first utility-scale plant will pave the way for more environmentally responsible power generation, marking a major milestone in NET Power’s mission to deliver the energy trifecta—clean, reliable, and low-cost energy.
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NET Power’s patented oxy-combustion supercritical CO2 power cycle has already undergone successful proof of concept at its demonstration facility in La Porte, Texas.
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Zachry Group has a track record of building successful first-of-a-kind facilities in the power sector and its FEED and EPC work for NET Power’s first utility-scale plant will establish the standard for future plants.
CARBON UTILIZATION
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Cemvita has opened a pilot plant in Houston, TX, for using CO2 emissions as feedstock to produce valuable biocommodities including fertilizer, plastic, methane, and fuels.
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The plant produces eCO2 Oil, a cutting-edge microbially-produced alternative to soybean oil, with a substantial volume of 55,000 liters.
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The eCO2 biomanufacturing platform uses engineered microbes that absorb and convert carbon dioxide into essential feedstocks and finished products needed to build a renewable future.
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eCO2 plants can provide reliable feedstock production with minimal land and electricity needs, without relying on hydrogen or sunlight like algae.
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The output of eCO2 plants will be carbon-negative and aiming to be cost-competitive with existing crop-based HEFA feedstocks and fuels.
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Traditional biofuels, including renewable diesel and sustainable aviation fuel, have relied on oils derived from crops, such as soybean and corn, as well as recycled vegetable oils.
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One eCO2 plant at full commercial scale can replace the oils produced from 200,000 acres of soybean farmland annually.
With Cemvita’s partnership with Oxy, we could see this technology deployed for utilization in Oxy’s DAC projects
FUNDRAISING
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Noya, has announced an $11 million Series A financing round to expand testing and manufacturing capabilities and deploy its first commercial pilot later this year
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Union Square Ventures and Collaborative Fund led the funding round with participation from several others
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Noya is trusted by industry leaders like Shopify and Watershed, who have each purchased Noya’s carbon removal credits
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The company is on a mission to accelerate the world’s transition to carbon negativity with innovative Direct Air Capture technology that is scalable and cost-effective
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Noya has signed a multi-year deal with a confidential university endowment to help it reach its sustainability goals with high-quality, permanent carbon removal credits
CARBON MARKETS
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JPMorgan Chase, H&M Group, Autodesk, and Workday commit $100 million to Frontier, a public benefit company owned by Stripe, for carbon removal
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The latest commitment adds to the $925M announced in April 2022 from Stripe, Alphabet, McKinsey, Meta, and Shopify, bringing the total commitment for carbon removal to over $1B
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Frontier enables its member companies to purchase CO2 removal via pre-purchase agreements or offtake agreements to spur the development of a new industry
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Frontier has spent $5.6M buying nearly 9,000 tons of contracted carbon removal from 15 carbon dioxide removal startups pursuing seven methods, and all solutions funded must meet specific criteria including permanence, cost, additionality, and capacity.
Wildest news of the week
Source: Chipotle
Looks like they’re adding some rooftop solar…
Better not raise the price of my guac!
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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.