Market Trends

The companies signed an MoU to conduct a FEED study for green hydrogen production using a 60 MW alkaline water electrolyzer.

Heirloom’s project is the first commercial DAC facility in the United States, and it will sequester CO2 from the atmosphere using CarbonCure’s concrete storage.

NuScale’s Energy Exploration Center will provide hands-on opportunities for visitors to apply nuclear science and engineering principles via SMR simulation technology.

The Payara offshore site resides within Guyana’s Stabroek Block, and Prosperity FPSO will produce an additional 220,000 barrels of oil per day.

Ansaldo Nucleare partnered with four additional companies to speed up the industrial deployment of SMRs.

QatarEnergy will provide Sinopec with 3 MTPA of LNG from the North Field South project over a span of 27 years.

ArcLight has purchased indirect ownership interests in Kleen Energy Systems, including 100% of the preferred equity and a minority common equity interest.

The partnership, funded by the DOE, has launched a commercial pilot for a DAC system that removes CO2 and captures water in a single unit.

Renewables continue to rock the new-build electric generation market, but gas-rich Texas, and some locals, are pushing back.

ExxonMobil purchased Denbury in an all-stock transaction valued at $4.9 billion, adding a network of CO2 pipelines to its portfolio.

As part of the 20-year SPA, Foran has agreed to purchase approximately 0.9 mtpa of LNG, which supports an additional train at Cheniere's Sabine Pass project.

There is a positive sales projection for gas turbines over the next decade.

ACWA Power will explore the establishment of a green hydrogen export corridor between its production sites and the Port of Amsterdam.

Chevron will diversify its cash flow and oil assets by acquiring Hess and its associated resource projects.

Up to 1 MTPA of LNG will be delivered to FSRU Italia in Piombino, the Tuscany region of Italy.

The 2024 Handbook features coverage on compressors for carbon capture, transient faults in lube oil systems, industry forecasts, and our annual company directory and equipment specifications.

The companies signed a memorandum of understanding to plan construction for a global-scale ammonia plant in Lake Charles, LA.

The Department of Energy (DOE) has granted up to $1 billion in funding for the production and use of hydrogen in the Midwest.

The company will serve as a sub-recipient for the Pacific Northwest Hydrogen Hub and the HyVelocity Hub, as per the DOE’s energy program.

The Kawasaki-designed LPG carrier—capable of storing and transporting liquefied petroleum and ammonia—has been delivered.

10,000 acres of land in Upton and Midland counties will be used for Milestone Carbon’s injection and storage of CO2.

The theme of this year’s show demonstrated the continued importance of turbomachinery in everyday life.

Trace Carbon Solutions has rights to develop and operate a carbon sequestration hub in Louisiana and Texas, capturing an estimated 250 million tons of CO2.

The acquisitions were made for a combined $26 million, broadening Ingersoll Rand’s portfolio of air compression and technical support capabilities.

The assets of Crown Energy—New York customers and natural gas supply infrastructure—have been absorbed by EnergyMark in the deal.

Synthesizing alternatives to iridium oxide will allow for cheaper hydrogen production at increased scale.

The finalization of $380 million Series C financing enables the company to meet hydrogen manufacturing demands.

SoCalGas has pledged its commitment and $500,000 in funding to ClearSign’s Hydrogen Ultra Low NOx burner project.

The funding will be put toward the financing of NextDecade’s LNG trains at the Rio Grande LNG export facility in Brownsville, TX.

The Turbomachinery & Pump Symposia in Houston, TX, held at the George R. Brown Convention Center, runs Sept. 25 – 28, 2023.