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☆ Big oil is racing to scale up carbon capture to slash emissions but the challenges are immense
▼ + stars: | 2024-04-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +14 min

Some climate activists accuse the industry of simply investing in carbon capture as way to extend the use of oil and gas. The technology typically uses chemical absorption to capture carbon dioxide emitted from the chimney of an industrial plant. "The economic viability of carbon capture and sequestration is a challenge today because the cost of building most plants in order to capture carbon dioxide are very significant," the executive said. About two-thirds of the industry's carbon dioxide emissions come from chemical reactions that occur when breaking down limestone. SLB this month announced a nearly $400 million investment in Aker Carbon Capture, a pure-play carbon capture company based in Norway, in an effort to accelerate deployment of the technology at commercial scale.

Persons: Chin Lee, Biden, SLB, Fred Majkut, Majkut, Adam Miklos, Miklos, Baker Hughes, Olivier Le Peuch, Alessandro Bresciani, Jeff Gustavson, Gustavson, steelmaker Nucor, Linde, Dan Ammann, Ammann, Fatih Birol, We're, SLB's Majkut Organizations: Chevron, Houston Chronicle, Hearst Newspapers, Department of Energy, RTI International, International Energy Agency, Exxon, Rystad Energy, Clean Investment Monitor, United Nations ., Gulf Coast, CF Industries, Talos Energy, Carbonvert, IEA Locations: Winnie, Mississippi, Vicksburg, Schlumberger, United States, Paris, Chevron, United Kingdom, U.S, Aker, Norway, Houston, Port Arthur , Texas, Gulf, Louisiana, Beaumont , Texas, Mississippi , Louisiana, Texas, Bayou, Port Arthur

☆ The North Sea could become a 'central storage camp' for carbon waste. Not everyone likes the idea
▼ + stars: | 2024-03-04 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +7 min

The receiving dock at the Northern Lights carbon capture and storage project, controlled by Equinor ASA, Shell Plc and TotalEnergies SE, at Blomoyna, Norway, on Friday, Jan. 19, 2024. Offshore carbon capture and storage (CCS) refers to a range of technologies that seek to capture carbon from high-emitting activities, transport it to a storage site and lock it away indefinitely under the seabed. Storage tanks at the Northern Lights carbon capture and storage project, controlled by Equinor ASA, Shell Plc and TotalEnergies SE, at Blomoyna, Norway, on Friday, Jan. 19, 2024. Bloomberg | Bloomberg | Getty ImagesNorway has a long history of carbon management. Bloomberg | Bloomberg | Getty Images"There is definitely a public acceptance risk to storing CO2 onshore.

Persons: Terje Aasland, Aasland, Norway's Aasland, Børre Jacobsen, —, Jacobsen Organizations: Equinor ASA, Shell Plc, Bloomberg, Getty, Norway's Energy, CCS, Institute for Energy Economics, Workers, Northern Lights, Shell, Northern, Venture, CNBC, videoconference Locations: Blomoyna, Norway, Europe, videoconference, Brevik, Norwegian, Sleipner, U.S, Norway's, Longship

☆ U.S. Department of Energy official addresses criticism of LNG export pause
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Department of Energy official addresses criticism of LNG export pauseBrad Crabtree, assistant secretary for the U.S. Department of Energy's Office of Fossil Energy and Carbon Management, discusses what's behind the United States' pause on LNG export approvals.

Persons: Brad Crabtree Organizations: U.S . Department of Energy, U.S . Department of Energy's, Fossil Energy, Carbon Management Locations: United States

☆ Opinion | Bill Gates: Fighting Climate Change Should Be Affordable. The Rich Can Make It So.
▼ + stars: | 2023-12-01 | by ( Bill Gates | ) www.nytimes.com time to read: +2 min

The other says we’re all going to be fine because we already have everything we need to solve climate change. But to overcome climate change, we need rich individuals, companies and countries to step up to ensure green technologies are affordable for everyone, everywhere — including less wealthy countries that are large emitters, like China, India and Brazil. Let’s start with what rich individuals, like me, can do to help. They should be investing in companies that are developing transformative green solutions — especially solutions that have potential but are currently underfunded, including green hydrogen and carbon management. Very wealthy individuals should also be making changes to their lifestyles to bring their emissions close to zero.

Persons: We’re Organizations: Let’s Locations: COP28, Dubai, China, India, Brazil

☆ US LNG projects win higher processing fees as interest rates climb
▼ + stars: | 2023-08-30 | by ( Curtis Williams | ) www.reuters.com time to read: +3 min

Snow covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. REUTERS/Gary Cameron/File Photo Acquire Licensing RightsHOUSTON, Aug 30 (Reuters) - Long-term buyers of U.S. liquefied natural gas (LNG) are willingly agreeing to higher liquefaction fees at newer export projects, according to analysts and developers familiar with the matter. The U.S. emerged in 2022 as the world's second largest LNG exporter on plentiful supplies of natural gas and relatively low processing costs per metric ton of LNG. But rising interest rates and higher construction costs have pushed up liquefaction fees, also known as tolling fees. Other developers are turning to increased equity investment in new projects to reduce the impact of higher interest rates on finance costs, said Poten's Feer.

Persons: Snow, Gary Cameron, Lyle Hanna, Jason Bennett, Baker Botts, Bennett, it's, Jason Feer, NextDecade, Feer, Poten's Feer, Curtis Williams, Marguerita Choy Organizations: REUTERS, Rights, Commonwealth LNG, LNG, U.S, Henry, Poten, Partners, Reuters, of Fossil Energy, Carbon Management, Cheniere Energy, Thomson Locations: Lusby , Maryland, U.S, Ukraine, Rio Grande, Houston

☆ Carbon storage is gaining favor. These are the companies investors need to know
▼ + stars: | 2023-08-15 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

Carbon capture, utilization and storage processes have been around for half a decade, but are currently gaining momentum. Some focus on modifying already-standing power as well as industrial plants that work on carbon capture. Put more succinctly, Deutsche Bank analyst James Hubbard called carbon capture "simple in theory" but "capital intensive and divisive" in reality. He also noted the company has one of the industry's largest carbon capture positions. Staphos cited the potential of its carbon capture operations as a long-term reason to be optimistic, even as its more traditional end-market, homebuilding, faces near-term pressure.

Persons: CCUS, Worley, Wood MacKenzie, Goldman Sachs, Jan Hatzius, Hatzius, James Hubbard, Goldman's Brian Singer, Baker Hughes, Goldman, Ati Modak, hasn't, Stephens, Mike Scialla, Scialla, George Staphos, Staphos, — CNBC's Michael Bloom Organizations: Big, International Energy Agency, U.S . Department of Energy, Battelle, Carbon Technologies, Occidental Petroleum, Carbon Engineering, Energy, Deutsche Bank, Wall Street, Occidental Petroleum . Energy, Baker, Occidental, of Energy, Bank of America, Weyerhaeuser, Bloom Energy, CF Industrial, Honeywell, KBR, Linde, Nutrien, Teledyne, Refinitiv Locations: Vermont, stoke, Maui, Big Tech, Texas, Louisiana, Carbon Technologies . Texas, Kleberg County, Rio Grande, Denmark, Switzerland, Union, Occidental, Boise, Pacific

☆ The US government will hand out up to $1.2 billion for companies to suck greenhouse gases out of the air
▼ + stars: | 2023-08-11 | by ( Grace Eliza Goodwin | Marianne Guenot | ) www.businessinsider.com time to read: +3 min

Once built, facilities in Texas and Louisiana will suck carbon dioxide pollution from the air. Removing greenhouse gases from the atmosphere is crucial to reversing the effects of climate change. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. How direct air capture differs from carbon capture technologyUnlike carbon capture technology, which captures carbon as its being produced by a facility before it reaches the atmosphere, direct air capture acts like a giant air purifier, separating carbon that is already in the air and pumping it underground or into rocks for permanent storage. The Texas site believes it could store up to 3 billion metric tons of CO 2 in saline formations under the hub.

Persons: Biden, Energy Jennifer Granholm, Granholm, Harris, Joe Biden Organizations: Service, Biden Administration, US Department of Energy, DOE, Energy, South, South Texas DAC, Infrastructure Law, DAC, Clean, Biden Locations: Texas, Louisiana, Cypress, Calcasieu Parish , Louisiana, South Texas, Kleberg County , Texas

☆ Occidental and Climeworks big winners as Biden allocates billions for CO2 removal
▼ + stars: | 2023-08-11 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

The money from the Bipartisan Infrastructure Law will now help fund two DAC hub projects, one in Texas and one in Louisiana. They will eventually remove more carbon per year than all of the current projects combined. Climeworks, based in Zurich, Switzerland, currently has the world's largest DAC plant in Iceland, which removes about 4,000 tons of CO2 per year. The DAC Hubs program is a vital investment for DAC to reach climate impact at scale," said Andrew Fishbein, senior climate policy manager for Climeworks. Heirloom is a California-based startup that is using limestone to remove carbon from the air.

Persons: Jennifer Granholm, Vicki Hollub, Andrew Fishbein Organizations: U.S . Department of Energy, Law, of Energy, Occidental Petroleum, Biden, Department, DAC, Breakthrough Energy, Microsoft Locations: Texas, Louisiana, U.S, Corpus Christi, United States, The Louisiana, Zurich, Switzerland, Iceland, California, Paris

☆ EnCap Flatrock Sells Elysian Carbon-Capture Business to Buckeye
▼ + stars: | 2023-07-17 | by ( Luis Garcia | ) www.wsj.com time to read: 1 min

Private-equity manager EnCap Flatrock Midstream sold Elysian Carbon Management less than two years after backing the carbon-capture and storage startup, benefiting from higher demand for emission-collection systems from energy infrastructure operators. Oklahoma City-based Elysian develops projects that collect carbon dioxide at power-generation and other industrial sites and transport it for storage underground. San Antonio-based EnCap Flatrock backed Elysian in late 2021 with a $350 million commitment.

Persons: EnCap Flatrock Midstream Organizations: Elysian Carbon Management, Oklahoma, Elysian Locations: San Antonio

The deal builds out Exxon's plan to develop an emerging market that makes money from reducing its own and others' greenhouse gases. Carbon sequestration is the favored strategy for U.S. oil and gas companies to reduce emissions while continuing to expand oil and gas production. Last year, Exxon struck its first commercial carbon storage deal with top ammonia maker CF Industries. The Denbury deal "reflects our determination to profitably grow our low carbon solutions business," Exxon CEO Darren Woods said in a statement. The all-stock transaction represents a 1.9% premium to Denbury's Tuesday close at 0.84 Exxon shares for each Denbury share.

Persons: Raymond James, Pavel Molchanov, Denbury, Darren Woods, Sabrina Valle, Arathy, Arunima Kumar, Savio D'Souza, Shilpi Majumdar, Conor Humphries Organizations: Denbury, Exxon Mobil Corp, Denbury Inc, Exxon, Linde AG, CF Industries, Carbon Solutions, Thomson Locations: HOUSTON, Plano , Texas, U.S, Texas, Alabama, Houston, Bengaluru

☆ Reducing renewable energy costs is the first step to accessibility: U.S. Department of Energy
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReducing renewable energy costs is the first step to accessibility: U.S. Department of EnergyBrad Crabtree, assistant secretary for fossil energy and carbon management at U.S. Department of Energy, discusses how to deploy renewable energy technology more widely in the global South.

Persons: . Department of Energy Brad Crabtree Organizations: . Department of Energy, U.S . Department of Energy

☆ Why investors pumped $100 million into a startup using microbial fungi to turn soil into a crucial tool in the fight against climate change
▼ + stars: | 2023-06-20 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +8 min

The startup Loam Bio wants to use fungi to boost soil health and help keep carbon in the ground. But soil carbon is in a sorry state, in part due to current agricultural practices. There are different types of soil carbon; some decompose easily while others can take thousands of years to break down. The soil microbiome could also change to start breaking down the carbon that gets fixed in soil, Bailey added. "The most important thing is that we're really accurately measuring the carbon that we store in the soil," Hudson said.

Persons: Guy Hudson, Chris Sacca's, Hacking, It's, Hudson, Monique, Britt Koskella, Koskella, Andy Bailey, Bailey, we're, Chris Shafto, Dr Brooke Bruning, you've Organizations: Green Tech, Service, Australian, Lowercarbon Capital, Lowercarbon, UC Berkeley, University of Bristol Locations: Australia, Brazil

☆ Carbon Accounting Changes Could Lift Corporate Greenhouse-Gas Emissions
▼ + stars: | 2023-05-18 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Changes to emissions accounting rules are being considered that could significantly increase carbon footprints for companies claiming to use 100% renewable power in their efforts to decarbonize. How companies tally greenhouse-gas emissions from their electricity purchases—so-called Scope 2 emissions—was the most popular issue in a recent consultation on updating widely used GHG Protocol carbon accounting rules. A recent review by carbon management firm FlexiDAO of 22 multinationals that bought renewable electricity across 27 countries found that they could be underestimating their electricity emissions by close to 50% under the current system. The GHG Protocol secretariat is reviewing the more than 1,400 survey responses, around 400 of which mentioned Scope 2. Other areas of focus were emissions in the value chain, or so-called Scope 3 emissions, market-based accounting approaches, and corporate accounting and reporting standards.

The effort comes as the United States seeks to sustain its liquefied natural gas, or LNG, exports to Europe to displace Russian fuel, while also promoting efforts to fight global warming. A credible market for certified natural gas could help it tackle both goals at once. Crabtree said he hosted a workshop in October with gas industry representatives, including a new industry group called the Differentiated Gas Coordinating Council (DGCC), to discuss standards for certified gas. While gas burns cleaner than other fossil fuels, its main component is the powerful greenhouse gas methane, which can leak into the atmosphere from drilling, processing, shipping and distribution. Palti-Guzman said certified gas could also be key to securing a longterm role for U.S. LNG in Europe where carbon prices last month hit a record 100 euros per tonne.

☆ New technique from U.S. national lab promises to strip carbon dioxide emissions from power plants and factories at record-low cost
▼ + stars: | 2023-01-24 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

Just as importantly, industrial processes such as making iron, steel, cement, fertilizer, pulp and paper, and bioenergy could all reduce their carbon dioxide emissions this new technique. "We have the technology to be able to capture carbon dioxide from those industrial point sources. PNNL's technique removes carbon dioxide at the source, rather than sucking it out of the air. The technique of vacuuming up existing CO2 out of the air is known as direct carbon capture, and is exemplified by the Swiss company Climeworks. Graphic courtesy Nathan Johnson at Pacific Northwest National LabWhat happens with the rest of the carbon dioxide?

☆ 5 key takeaways from Climate Week NYC 2022
▼ + stars: | 2023-01-17 | by ( Sponsor Post | Created Hitachi With Insider Studios | ) www.businessinsider.com time to read: +5 min

The importance of addressing climate change has never been greater. No single business or organization can tackle climate change on its own. On the first day of Climate Week NYC, industry experts gathered to discuss what's stopping us from getting climate action done. Helping small and medium-sized customers optimize their climate efforts allows companies with the resources and reach of Hitachi to extend climate action beyond their current offerings. Discover how Hitachi is getting it done by driving climate action through its sustainable technologies and solutions.

☆ Wintershall Dea urges Germany to clear CO2 exports for storage
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 16 (Reuters) - German oil and gas producer Wintershall Dea (WINT.UL) (BASFn.DE) urged Berlin on Monday to clear exports of carbon dioxide to European neighbours that would be buried in so-called carbon capture and storage facilities (CCS). Wintershall is involved in various CCS projects, including in Norway and Denmark, which aim to store CO2 in depleted oil and gas fields. The early capture of CO2 emissions in the production process and their subsequent storage could help achieve climate targets and provide a new area of activity for hydrocarbon exploration companies. Unavoidable residual emissions in Germany currently amount to well over 40 million tonnes per year from industries such as chemicals and cement, Langemann said. Wintershall Dea plans to build up a business capturing 20-30 million tonnes of CO2 per annum by 2040.

☆ Inside climate tech's record-breaking year where the energy crisis, new regulation, and a maturing debt market helped European startups raise $17.5 billion
▼ + stars: | 2022-12-30 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +7 min

Climate tech was a clear green shoot in a tumultuous 2022 but there will be a delayed correction. But there has been one green shoot: Climate tech. "We've just gotten started when it comes to climate tech," Emitwise's Cozzi said. Many climate tech companies have raised at high valuations, said Magda Lukaszewicz, principal at Balderton Capital. Energy and infrastructure companies are tipped as winners, while pure software plays may see some consolidation, climate tech investors and founders said.

☆ Here's why a former Meta, Slack, and Google sales director swapped Big Tech for climate tech by joining SoftBank-backed startup Plan A
▼ + stars: | 2022-12-12 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

A former Meta, Slack, and Google sales director is joining SoftBank-backed carbon accounting startup Plan A.Neil Delaney, who is joining the startup as chief revenue officer, left Meta in pursuit of "ikigai." Former Google director Neil Delaney describes himself as personable; he enjoys learning and has a natural interest in people. He was working as the interim global sales director at Meta when something else caught his eye: climate tech. With 15 years in Big Tech under his belt, Delaney has now joined Berlin-based carbon accounting company Plan A as its chief revenue officer. The next wave of tech unicorns is expected to be in climate tech, and Delaney sees Plan A as one of them as long as it "executes well."

☆ Carbon accounting startup Emitwise becomes latest climate tech startup to lay off staff as red hot sector jostles with economic downturn
▼ + stars: | 2022-10-11 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Layoffs have hit the red-hot climate tech sector as it jostles with the economic downturn. Carbon accounting startup Emitwise has become the latest climate tech startup to lay off staff as the industry jostles with the economic downturn, Insider understands. Climate tech is wide-ranging, encapsulating everything from research and development-heavy batteries to carbon accounting SaaS tools. The energy crisis has been a boon for home energy startups working on rooftop solar, heat pumps, and smart thermostats. At One Ventures' Lin added that in moments of economic difficulty "sometimes the most interesting innovations are born."

☆ ROA – un nou standard în agricultura organică lansat în 2020 pentru a combate încălzirea globală
▼ + stars: | 2020-01-03 | by ( Luminita Crivoi | ) agrobiznes.md time to read: +2 min

Agricultura regenerativă, orientată spre îmbunătățirea sănătății solului ar putea deveni tendința numărul unu în acest an. Spre deosebire de certificarea organică standard, ROA presupune nu doar sistemul eco de producere, dar și asigurarea sănătății solului pe termen lung și asigurarea beneficiilor economice pentru fermieri. Standardul, de fapt, a devenit o necesitate în condițiile în care, potrivit cercetărilor, agricultura generează un sfert din emisiile de gaze cu efect de seră. Astfel de practici asigură fertilitatea solului și capacitatea de a reține mai multă umiditate și carbon. Elizabeth Whitlow, directorul executiv al Alianței ROA, sugerează că sechestrarea carbonului în sol nu va reduce total emisiile în creștere.

Persons: ., Elizabeth Whitlow Organizations: ROA, Management, ONU, Rodale, J.I Locations: America de Nord, . Bronner’s, Patagonia, Horizon, Emmaus, Pennsylvania

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