DOE investing $118mm in biofuel projects

Exxon greenlights green diesel in Canada

Nippon Steel, Mitsubishi and Exxon partner for CCS in Asia

Freeport LNG gets FERC approval to begin restart process...sort of

Step aside Jerome, it's now time for the DOE's money printer

The US Department of Energy (DOE) will allocate $118 million to 17 projects aimed at expanding US biofuels production.

The funding is aimed at accelerating the production of biofuels made from biomass, including agricultural waste, soybean oil and animal fats.

The funds are in addition to the over $500 million the DOE has invested in bioenergy and biorefinery R&D over the past two years.

The Biden administration has stated that biofuels will be needed to lower emissions, including in the aircraft industry with lower-carbon sustainable aviation fuel.

Exxon's affiliate, Imperial Oil Ltd, is dropping $560 million on the largest renewable diesel facility in Canada.

This bad boy's gonna be pumping out 20,000 barrels of renewable diesel per day and it's all coming from locally sourced feedstocks.

This project is gonna help reduce greenhouse gas emissions in Canada's transportation sector by a whopping 3 million metric tons per year.

The facility will be using low-carbon hydrogen, carbon capture and storage technology and it's all part of Exxon's plan to invest $17 bn in lower-emission initiatives by 2027.

Not only will this facility help Canada meet low emission fuel standards, but it's also gonna create 600 direct construction jobs and hundreds more through investments by business partners.

Nippon Steel, Mitsubishi Corp, and Exxon teaming up to study carbon capture and storage in Asia Pacific

Gonna look into capturing CO2 emissions from Nippon Steel's steel plants and evaluate infrastructure needs

Aiming to create value chains for carbon capture and storage in the region, with a focus on countries like Malaysia, Indonesia, and Australia

Nippon Steel wants to implement CCS to hit their 2050 carbon neutral goal

Mitsubishi Corp evaluating overseas CO2 transportation and CCS value chain development

ExxonMobil bringing scalable, lower-emission tech to the Asia Pacific region to reduce emissions

The demand for green steel still sits above alternative CCS use cases like green cement

Freeport LNG, the second biggest US liquified natural gas exporter, got the green light from federal regulators to start early steps to restart its fire-idled LNG export plant in Texas.

The company has not yet sought permission to restart the liquefaction trains that turn natural gas into LNG for export. That resumption of LNG production will have to come in a later request with federal regulators.

Energy analysts predict most of the plant's production to remain off line until March or later.

The plant shut down after a pipeline explosion on June 8, 2022, and was barred from resuming production until federal regulators completed an extensive safety review and approved resulting changes.

The facility can draw in around 2.1 bcfd of gas when operating at full capacity.

The outage forced big customers like JERA and Osaka Gas to book hundreds of millions of losses. Other big buyers include BP, TotalEnergies and SK E&S.

It's expected that the plant returning to service should be bullish for natural gas. Much needed for US producers today.