THE NUMBER

6.47 GW

Gas generation planned at Project Star in Encinal, Texas, the first named project in Korea’s U.S. package. Seoul confirmed it Wednesday. It did not confirm Alaska LNG.

TODAY’S MENU

LEAD STORY

$22.3B / 6.47 GW — NextEra, Related and Lewis get Korea’s Texas gas plant

•   It would power Related Digital’s 5 GW campus next door and send excess to the grid. Lewis brings land, water and gas; first units could run in 2029. We ran Seoul’s plan Sept. 22.

•   Trump put Korea’s package at $200 billion, including $120 billion for eight reactors on non-binding terms (Brookfield). Seoul hasn’t decided on the $54 billion Alaska pipeline (Reuters).

THE HEADLINES

POLICY

Four senators / post-midterms — A permitting bill would make data centers pay for transmission

•   Capito, Lee, Whitehouse and Heinrich filed it. Issued permits would stand barring extraordinary circumstances, a legal violation or a court order.

•   It aims to stop future administrations from blocking permits by fuel type (Latitude Media). The vote waits until after November. We ran the House ratepayer bill Sept. 17.

REFINING

+$3 / October — The U.S. tells France and Germany to release diesel or face a ban

•   Three sources say Washington thinks both fell short on earlier releases as Trump weighs a ban before the midterms. EU energy officials meet Friday; Macron plans a G7 call on fuel.

•   Chinese refiners suspended October exports (Reuters) and Russia extended its diesel ban. December Brent rose ~$3 Thursday. We ran Wright’s voluntary ask Sept. 24.

POWER

Feb. 28 / five months — FERC suspends PJM’s backstop procurement

•   FERC accepted the one-time procurement Sept. 29 but suspended it to a Feb. 28, 2027 effective date, subject to refund and three open issues. PJM dropped its Sept. 30 start.

•   Only new resources online by June 1, 2032 qualify; bilateral contracts with large loads can cut the target. PJM updates stakeholders Oct. 7; the new date is open.

NUCLEAR

690 MW / 20 years — Amazon signs for Calvert Cliffs power and a 190 MW uprate

•   The uprate comes online 2030–2032, and a retail deal covers Amazon’s PJM sites. The agreement backs $3 billion-plus of plant work. No price.

•   Output still flows to PJM. Constellation says the revenue supports another 20-year license, which it has not yet received.

UPSTREAM

160 Mboe/d / $900–950M — Magnolia guides its first full quarter with WildFire

•   Q4 output is 159–161 Mboe/d, 49–50% oil, on ~$235 million of D&C. Preliminary 2027 D&C of $900–950 million buys 4–5% growth.

•   Net debt is ~$1.9 billion, under 1.0x 2027E EBITDA. It sold ~1.4 Mboe/d in Dimmit and Zavala for $47.5 million plus 616 Gonzales acres.

QUICK HITS

GAS

+64 Bcf / +79 Bcf — Storage reaches 3,415 Bcf

Stocks for the week ending Sept. 25 are 79 Bcf above the five-year average and 138 Bcf below last year. South Central salt is 15.5% below average.

POWER

54 GW / 4.8 GW — Dominion shows PJM how much data-center demand it counts

Of ~54 GW under contract, 32.5 GW is engineering letters; the forecast drops 19 GW of those and assumes 63% utilization after five years. August billing peak: 4.8 GW.

DATA CENTERS

$42B / $125.2B — Broadcom will lend Anthropic up to $42 billion to lease its chips

The convertible notes could fund a third of a five-year TPU lease. None come before the IPO; the filing flags conflicts. We ran the prospectus Sept. 29.

POWER

450 MW / 2027–28 — Enerflex books behind-the-meter gas units for a data-center developer

The customer and value are undisclosed. Enerflex authorized ~$85 million of plant investment, mostly for 2027. Its pipeline tops 2 GW.

ALMOST HEADLINES

DATA CENTERS  400 MW / >$15B — JERA, Dell and RHAELM plan behind-the-meter AI capacity at JERA’s Chiba plant, with Apollo lined up to finance RHAELM

UPSTREAM  £33M net / ~10,000 boe/d — Serica closes Spirit’s Southern North Sea gas; Spirit keeps over 75% of the decommissioning liability

UPSTREAM  Unsolicited offer — ConocoPhillips weighs selling its Norway business and Teesside; no buyer or price named

UTILITIES  $2.92B EV — Antin sells control of district-energy owner Vicinity to Harrison Street and Kenon; close in 1H27

UTILITIES  335,000 customers — National Fuel closes CenterPoint’s Ohio gas utility, doubling its utility rate base

LNG  1 Mtpa / 20 years — Centrica signs an FOB heads of agreement with Ksi Lisims; the SPA is still to come

REFINING  $16B / 700,000 bbl/d — Dangote breaks ground in Kenya; Honeywell’s scope is ~$300M

CRUDE  Sept. 1, 2027 — Ottawa lists the Pacific Link oil pipeline as a national-interest project and targets one federal review by then

GAS  Up to 90 TJ/d / 2028 — Amplitude takes FID on its Otway Basin East Coast Supply Project

SOLAR  €561M / 1.3 GWp — Rezolv signs 14 lenders for Romania’s Dama Solar; COD in 2H28

THE READING LIST

HEATMAP

The Senate’s Big Bipartisan Permitting Deal, Explained

FINANCIAL TIMES

Nvidia turns to insurers to spread the risk of AI build-out

REUTERS

Dash for small gas turbines set to impact data center costs

Sunya stories

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