Oil and gas marks another year of over $1B in R&D spending
Major Canadian oil and gas companies are cranking up spending on research and development aimed at reducing emissions and improving operational efficiency.
Suncor Energy, Canadian Natural Resources, Imperial Oil, Syncrude, and TC Energy spent $1.17 billion in 2021 compared to $1.01 billion in 2020, says a recent Research Infosource report. That maintains a world-leading trend since 2012 of major oil and gas companies collectively spending more than $1 billion per year on research and development (R&D).
More LNG projects needed as European demand takes on larger importance: report
The world needs more liquefied natural gas (LNG) projects to meet rising demand as Europe emerges as a key import region, according to the latest industry outlook.
Europe’s LNG imports increased by 60 per cent last year to replace pipeline gas from Russia, Shell reported this week. Analysts expect Europe’s LNG requirements to nearly double by 2030, reaching 140 million tonnes compared to about 73 million tonnes in 2021.
New board in place, US utility turns to clean energy study
Both units at Cumberland went down for the entirety of the frigid conditions due to frozen implementation lines, he said. Many of the simple cycle and combined cycle gas plants were affected, but most of those were brought back online during the cold, Moul said. Even though TVA was able to put 1,000 megawatts back online after the initial outages, TVA decided to implement rolling blackouts on a second day to keep its power system stable.
TransAlta to buy interest in Alta. pumped hydro energy storage development for $8M
TransAlta Corp. says it will acquire a 50 per cent interest in an early-stage pumped hydro energy storage development project in southwest Alberta.
The Calgary company says Montem Resources Limited currently owns the Tent Mountain Renewable Energy Complex the two companies will jointly manage with TransAlta acting as project developer.
David Yager to chair Alberta premier’s advisory council on energy future, report in June
Alberta Premier Danielle Smith has appointed a five-member panel “to map out Alberta’s energy future.”
The premier has taken a critical view of the “energy transition,” and its impact on Canada’s energy industry, which is principally based in Alberta.
It will be chaired by David Yager, an executive and writer with more than four decades of experience and expertise in the energy industry. Yager’s opinion columns have been a regular feature of Pipeline Online since its inception.
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