Latest news with #energyinvestment
Yahoo
2 days ago
- Climate
- Yahoo
Energy summit held in New Orleans to discuss strengthening the grid
NEW ORLEANS (WGNO) — In the face of increasingly severe storms and climate driven disasters, Louisiana energy leaders, regulators and lawmakers met in New Orleans for a summit focused on one mission: making the state's power grid stronger, smarter and more resilient. Louisiana Public Service Commissioner Eric Skrmetta discussed a $2 billion investment aimed at hardening the electrical grid, a joint effort between the state and utility provider Entergy. The initiative seeks not just to withstand major weather events, but also to recover from them quickly. 'Louisiana undertook a pathway to grid resilience and agreed to work with Entergy on a $2 billion investment in grid resilience for not only distribution mechanisms, but also for the transmission grid,' said Skrmetta. 'Recognizing that, the important thing is the ability to bounce back after critical weather events.' City of New Orleans offering an amnesty program for past-due parking, traffic tickets A key part of the grid resilience effort involves replacing aging, vulnerable infrastructure- starting with something as basic, but critical, as power poles. Entergy CEO Drew Marsh emphasized that this isn't just about resilience, it's also about ensuring energy remains affordable and sustainable for customers across Louisiana. 'The customers come first,' Marsh said. 'And so, thinking about what it means for our customers from a reliability standpoint that we're just talking about, but also the sustainability and the cost effectiveness, the affordability elements of it, those are all going to be top of mind.' Marsh noted that Louisiana's abundant energy infrastructure supports low electricity prices, helping the state remain competitive in the global economy. 'We have abundant infrastructure and that… all of that leads to low energy prices and that means that we can compete very effectively in the global economy,' Marsh said. The summit also spotlighted the broader energy strategy needed for long term resilience. Congressman Troy Carter called for a comprehensive approach, including reinforced levees and solar-powered cooling centers in vulnerable neighborhoods. 'We still have work to do,' Carter said. 'But we have come a long way.' With storms growing stronger and more frequent, state leaders say the time to act is now. The vision includes not just restoring power faster but also using smart grid technologies and clean energy solutions to protect communities, create jobs and keep the lights summit held in New Orleans to discuss strengthening the grid Separate crashes in Lafourche, Terrebonne parishes leave cyclists dead Weather Service rehiring at offices left 'critically understaffed' by layoffs Fan reportedly struck by falling concrete at Dodger Stadium EPA, Park Service take big hits in latest Trump budget plan Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
RNZ News
6 days ago
- Business
- RNZ News
Government goes for gas stake
Photo: 123rf What will the Government achieve by setting aside $200 million to try and get a small stake in a new offshore gas field? Associate Energy Minister Shane Jones announced the move in the budget last week saying the Crown would take a 10 to 15 per cent stake in a new gas field to help feed the domestic market. While electricity generators have purchased gas from the country's biggest user, Methanex, for domestic supply, other gas users such as schools and hospitals are unable to get supply contracts of more than a year, and prices are going up for everyone. But new gas fields are a huge investment, and the sector has struggled to meet demand. Mac Beggs has worked on oil and gas exploration for decades in New Zealand - he says there are two, maybe three wells that have potential.
Zawya
28-05-2025
- Business
- Zawya
Ammat Global Resources Managing Director (MD) Joins African Energy Week (AEW) 2025 Amid Congolese Upstream Expansion
Massimiliano Mignacca, Managing Director of independent hydrocarbon producer Ammat Global Resources, has joined the continent's largest energy event – African Energy Week (AEW): Invest in African Energies 2025 - as a speaker. Taking place September 29 to October 3 in Cape Town, the event will showcase emerging investment opportunities across the continent's most promising oil and gas markets. As a major upstream operator in the Republic of Congo, Ammat Global Resources is well-positioned to discuss strategic for unlocking the full potential of the country's hydrocarbon market. Focusing on optimizing oil and gas operations, Ammat Global Resources strives to boost oil production in the Republic of Congo. The company works closely with the country's national oil company Société Nationale des Pétroles du Congo to scale-up exploration, in line with national goals of reaching 500,000 barrels per day (bpd) crude production in the coming years. At AEW: Invest in African Energies 2025, Mignacca is expected to share insights into strategies for increasing production in the Republic of Congo, as well as ongoing drilling campaigns and future investment priorities. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Ammat Global Resources has been working towards optimizing operations at mature fields in the Republic of Congo. The company plans to kickstart a drilling campaign, designed to increase output by approximately 70% over the next five years. This builds on successful field optimization in recent months. Notably, in 2024, the company implemented a comprehensive development plan at the Loango and Zatchi fields, situated in the shallow waters of the country. The plan strives to improve the structural integrity of the asset platforms through maintenance and the replacement of key components. Since its implementation, Ammat Global Resources has seen a 75% increase in production capacity at the fields, with output rising from 4,000 bpd to 7,000 bpd. At the Loango offshore field, the company revitalized three platforms in 2024. Operations at the field started in 2023, and since then, the company has launched a program to modernize the sea pipeline linking the field's treatment platform to peripheral platforms. An environmental risk mitigation program – undertaken in partnership with other operators – is also being implemented at the field, as well as a campaign to replace outdated pumps and reactivate wells. The company also plans to revamp two additional platforms at the Zatchi field. Ammat Global Resources secured exploration and production permits for both fields in 2023. Africa's energy sector is rapidly changing, and companies like Ammat Global Resources stand to dominate marginal field production with potential new investments in Angola, Gabon, Libya, Nigeria, Algeria, the Republic of Congo and others. While the company represents a relatively new upstream player, Ammat Global Resources has already played an instrumental part in supporting the Republic of Congo's production goals. The company's approach includes revitalizing existing assets by enhancing platform integrity and operational efficiency. Looking ahead, the company's upcoming drilling campaign and field optimization is expected to unlock greater value from the country's offshore assets. The company is increasing its production with low carbon solutions. Its new drilling campaigns and expansion is a significant milestone in our mission to make energy poverty history by supporting the Republic of Congo through sustainable growth and long-term value creation. Ammat Global Resources has a company strategy that respects the unique rights of local communities and continues to make great strides toward learning, developing relationships based on trust, and sharing benefits from its oil operations. As such, the company stands to be significant player in the near future. Insights shared at AEW: Invest in African Energies 2025 will provide a snapshot of the opportunities available in the Republic of Congo. 'While a major oil producer, the Republic of Congo still offers significant growth opportunities for oil and gas operators. The country's untapped exploration prospects continue to entice players, and companies such as Ammat Global Resources are making strides to unlock new discoveries in the country. With greater investment in exploration and production, the Republic of Congo stands to accelerate output and support regional fuel security,' states NJ Ayuk, Executive Chairman, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Reuters
23-05-2025
- Business
- Reuters
US invites Asian officials to Alaska, eyes $44 billion LNG project
TOKYO/WASHINGTON, May 23 (Reuters) - The U.S. has invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, two people familiar with the planning said, as Asian governments consider U.S. investments in the hopes of relief from President Donald Trump's tariffs. Trump's energy czar, Interior Secretary Doug Burgum, and Energy Secretary Chris Wright will host the June 2 event, the sources told Reuters, requesting anonymity as the details are not public. The event will include a visit to Alaska's remote North Slope, one source said, home to stranded gas fields the U.S. is seeking to unlock through the proposed $44 billion pipeline. It would traverse 800 miles (1,300 km) across the huge state before the gas is liquefied for shipment, mainly to Asian customers. Trump has pushed allies like Japan and South Korea to buy U.S. energy while threatening trade tariffs. He has said Tokyo and Seoul want to invest "trillions of dollars each" in the pipeline project. It is unlikely the Alaska meeting will yield major deals related to the long-delayed pipeline project, as originally hoped, and the size and seniority of the foreign contingent is unclear, the sources said. Japanese Prime Minister Shigeru Ishiba expressed optimism about the Alaska LNG project during a private meeting with Trump in February, despite doubts in Tokyo about its viability. Japanese and South Korean officials and executives have sounded caution on a project in the works for decades that has made little progress because of cost and logistical challenges. The White House declined to answer specific questions about the event, saying in a statement that Trump "has a proven history of bolstering American energy production and will restore our nation's position as a global energy leader". The Energy and Interior departments did not respond to requests for comment. Officials from Taiwan's state-run energy company CPC, which in March signed a non-binding agreement to invest in and purchase offtake from the pipeline project, will attend the Alaska meetings, the Economic Ministry said. CPC did not respond to requests for comment. South Korean Trade Minister Ahn Duk-geun said last week his government had been invited but that the timing was "very tricky". South Korea holds a presidential election on June 3. Japan's trade minister, Yoji Muto, has also been invited, two sources said. A Japanese government source said it would be difficult for Muto to attend due to parliamentary commitments, while Tokyo's level of participation may be influenced by the progress of Japan-U.S. trade negotiations. An official at Japan's trade ministry said on Friday that no decision had been made on Japanese participation. Locking in binding agreements on the pipeline project may take time as developers have not yet conducted a front-end engineering design study, needed to clarify overall project costs, one source said. The study is expected to begin later this year. The June 2 meeting will also broadly discuss collaborating on energy projects in the Arctic, the sources said. Burgum and Wright are then scheduled to participate in the Alaska Sustainable Energy Conference in Anchorage from June 3 to 5.
Yahoo
23-05-2025
- Business
- Yahoo
US invites Asian officials to Alaska, eyes $44 billion LNG project
By John Geddie, Tim Kelly and Timothy Gardner TOKYO/WASHINGTON (Reuters) -The U.S. has invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, two people familiar with the planning said, as Asian governments consider U.S. investments in the hopes of relief from President Donald Trump's tariffs. Trump's energy czar, Interior Secretary Doug Burgum, and Energy Secretary Chris Wright will host the June 2 event, the sources told Reuters, requesting anonymity as the details are not public. The event will include a visit to Alaska's remote North Slope, one source said, home to stranded gas fields the U.S. is seeking to unlock through the proposed $44 billion pipeline. It would traverse 800 miles (1,300 km) across the huge state before the gas is liquefied for shipment, mainly to Asian customers. Trump has pushed allies like Japan and South Korea to buy U.S. energy while threatening trade tariffs. He has said Tokyo and Seoul want to invest "trillions of dollars each" in the pipeline project. It is unlikely the Alaska meeting will yield major deals related to the long-delayed pipeline project, as originally hoped, and the size and seniority of the foreign contingent is unclear, the sources said. Japanese Prime Minister Shigeru Ishiba expressed optimism about the Alaska LNG project during a private meeting with Trump in February, despite doubts in Tokyo about its viability. Japanese and South Korean officials and executives have sounded caution on a project in the works for decades that has made little progress because of cost and logistical challenges. The White House declined to answer specific questions about the event, saying in a statement that Trump "has a proven history of bolstering American energy production and will restore our nation's position as a global energy leader". The Energy and Interior departments did not respond to requests for comment. Officials from Taiwan's state-run energy company CPC, which in March signed a non-binding agreement to invest in and purchase offtake from the pipeline project, will attend the Alaska meetings, the Economic Ministry said. CPC did not respond to requests for comment. South Korean Trade Minister Ahn Duk-geun said last week his government had been invited but that the timing was "very tricky". South Korea holds a presidential election on June 3. Japan's trade minister, Yoji Muto, has also been invited, two sources said. A Japanese government source said it would be difficult for Muto to attend due to parliamentary commitments, while Tokyo's level of participation may be influenced by the progress of Japan-U.S. trade negotiations. An official at Japan's trade ministry said on Friday that no decision had been made on Japanese participation. Locking in binding agreements on the pipeline project may take time as developers have not yet conducted a front-end engineering design study, needed to clarify overall project costs, one source said. The study is expected to begin later this year. The June 2 meeting will also broadly discuss collaborating on energy projects in the Arctic, the sources said. Burgum and Wright are then scheduled to participate in the Alaska Sustainable Energy Conference in Anchorage from June 3 to 5.
