Author: Graham Foster

Woodside Energy, Australia’s leading energy firm, has taken a significant step in the U.S. market by securing a $5.7 billion investment from a private equity company based in New York. This funding will support a major liquefied natural gas project in Louisiana. The firm Stonepeak, which focuses on infrastructure investments, plans to take a 40% share in the Louisiana LNG project, formerly known as Driftwood. This development requires the construction of 150 kilometers of pipelines and aims to produce 27.6 million tonnes of natural gas each year. While Woodside is keen on bringing in additional equity partners for this project,…

Bernard Fontana is stepping into a challenging role as the new CEO of France’s state-owned electricity company, EDF. He was appointed to replace Luc Rémont, who was dismissed after just over two years due to disagreements with the government. Rémont’s vision of running EDF as a profit-oriented entity clashed with the French state’s desire to provide affordable power for industries and develop new nuclear facilities. Fontana, who previously led EDF’s engineering branch, Framatome, now faces the daunting task of mending the relationship with the French government, the company’s sole shareholder. His responsibilities will include securing energy supply contracts with major…

The U.S. Department of Energy (DOE) has selected 16 federal sites as potential locations for new data centers and energy resources. On Thursday, the DOE released a request for information (RFI) inviting feedback from stakeholders, including grid operators, regarding these upcoming projects, which could be operational in less than two years. “The race to lead in artificial intelligence is like a new Manhattan Project. With President Trump’s leadership and the innovation from our National Labs, the U.S. can win this race,” said Energy Secretary Chris Wright. He added that the DOE is taking crucial steps to harness domestic resources to…

Israeli gas producer Energean has adjusted its investment strategy over time. Initially, the company focused only on new assets within a three-hour flight from its headquarters in Athens, led by CEO Mathios Rigas. However, they have now broadened their search to a wider area covering three time zones, but their key strategy remains the same: they seek assets that are ready for production. This strategy would have continued even after a planned sale of some older assets in Egypt, Italy, and Croatia was recently canceled. The sale was supposed to be worth $500 million at closing, with an additional $445…

The president and CEO of the Southwest Power Pool (SPP), Lanny Nickell, has expressed concerns about the ability to meet the increasing electricity demands in the region. He stated that there may not be sufficient power supplies constructed in time to address this demand surge. As a result, SPP plans to implement demand response programs to help manage the gap between supply and demand. Nickell highlighted that the SPP’s excess capacity is projected to drop to just 5% by 2029, a significant decrease from 24% in 2020. He emphasized the urgency of adding more generation quickly to avoid serious shortages,…

The world is trying to understand the impact of Donald Trump’s recent “liberation day” announcement on the economy. Last Wednesday, the US president stirred the markets by intensifying the trade conflict and introducing “reciprocal tariffs” on key trading partners. This move significantly affects the US energy sector, which heavily depends on imports for clean technologies and equipment. In related news, Dominion Energy, one of the largest utility companies in the US, plans to increase consumer bills by 14%. This increase is attributed to rising labor costs, material expenses, and needed upgrades to the power grid amid increasing electricity demand. The…

BP is closing its low-carbon mobility team as part of its strategy to refocus on its traditional oil and gas operations. This move marks another step back from the company’s five-year journey to diversify its energy portfolio. The low-carbon mobility unit was tasked with creating electric, hydrogen, and other low-emission vehicle solutions, especially for trucks. However, as CEO Murray Auchincloss tightens the company’s focus on fossil fuels, the team is being disbanded due to concerns over its commercial viability, according to senior executive Martin Thomsen. He informed employees that activities from this unit would be absorbed into other business areas.…

Recently, the global clean energy sector had a solid performance even as broader stock markets faced turmoil. This comes in the wake of tariffs announced by former President Donald Trump, which many feared would disrupt international trade and impact the energy transition. Surprisingly, the iShares Global Clean Energy ETF rose by 1.2%, indicating some investor confidence in cleaner energy amidst the chaos. Companies focused on renewable energy, like Iberdrola and SSE, have remained somewhat shielded from the financial fallout. However, experts warn that the fallout from the fractured trade relations could hinder the progress of clean energy worldwide. Industries such…

Amy Akers is a senior counsel at Clark Hill. In recent years, the Federal Energy Regulatory Commission (FERC) has focused on enhancing power supply and managing costs for consumers through significant reforms in the transmission process. Starting in June 2021, FERC opened discussions on various key topics under docket RM21-17. These topics include developing longer-term plans for regional transmission and sharing costs, reassessing who is financially responsible for regional facilities and related upgrades, and improving oversight of the identification and funding of new transmission projects. With strong support from the industry, FERC proposed new rules in April 2022 to boost…

In a significant move, Helge Lund, the chair of BP, has announced his decision to resign, a step many view as inevitable after a tumultuous period in which the oil giant attempted a shift away from fossil fuels, only to retreat from those plans this year due to pressure from the activist group Elliott Management. On Friday, BP revealed that Lund has informed the board of his intention to step down, likely in 2026. The search for his successor will be led by Dame Amanda Blanc, the board’s senior independent director. Lund’s exit follows a February decision by BP to…