Speaking Energy
As the energy industry continues to grow and change with new technologies, markets and resources, the Speaking Energy blog provides readers with key updates and insights.
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Speaking Energy
2023 saw two megadeals in the oil & gas industry that have led to calls from environmental interest groups for the FTC to intervene despite a lack of obvious antitrust issues. Whether the FTC will sue to block the deals remains to be seen.
Speaking Energy
Policies and incentives supporting the energy transition, combined with strong oil & gas cashflows and growing concerns over energy security, have enhanced efforts to modernize the industry and invest in technologies that will accelerate decarbonization.
Speaking Energy
On December 6, 2023, the House Transportation and Infrastructure Committee approved the Promoting Innovation in Pipeline Efficiency and Safety Act of 2023 (PIPES or the Bill)1 to reauthorize the Pipeline and Hazardous Materials Safety Administration’s (PHMSA) safety programs for the next four years. The bipartisan legislation was introduced on November 29, 2023, with the goal of striking the correct balance between safe energy resource transportation and ecologically beneficial U.S. manufacturing. The Bill would mandate that guidelines be created to improve operations, recruit more safety experts, and enhance procedures to prevent damage from excavation. The Bill funds PHMSA pipeline safety initiatives with $1.1 billion spread over four years. Among the important clauses of the Bill are the following:
Speaking Energy
Akin partners Matt Kapinos, Shariff Barakat and Sam Guthrie will be moderating panels and presenting at Infocast’s joint conferences CCS/Decarbonization Project Development, Finance & Investment and RNG & SAF Capital Markets that will explore current market perspectives, the latest developments, and what is on the horizon for carbon capture and renewable natural gas projects. The conference will take place July 24-26, 2023, in Houston, TX. Matt, Shariff and Sam would like to invite our Akin friends to receive a 15% discount to attend.
Speaking Energy
On July 5, 2023, the U.S. Department of Energy (DOE) Office of Clean Energy Development (OCED) announced a Request for Information to inform the DOE’s efforts to design a demand-side support mechanism for its Regional Clean Hydrogen Hubs Program (H2Hubs). Information obtained through this process will support a future Broad Agency Announcement (BAA) entitled “Implementing Entity (or Entities) for Demand-side Support Mechanism for Clean Hydrogen Hub Projects” that the DOE expects to issue later this summer/early fall. The DOE ultimately intends to commit up to $1 billion to fund entities implementing a demand-side support mechanism to “facilitate bankable clean hydrogen demand” for the H2Hubs to “enable private sector financing and expedite progress to Final Investment Decision for H2Hubs.” This follows the $6-7 billion commitment the DOE initially announced in 2022 for the H2Hubs.
Speaking Energy
We are pleased to share a recording of our “Building the Energy Hubs of the Future” program, that recently took place in our Houston office, in partnership with the Port of Corpus Christi.
Speaking Energy
On March 2, 2023, a bi-partisan group of Senators introduced a package of legislation dubbed the Hydrogen Infrastructure Initiative aimed at facilitating the build out of the hydrogen infrastructure necessary to transport, store and deliver hydrogen. The Hydrogen Infrastructure Initiative includes four separate pieces of legislation: (i) the Hydrogen for Ports Act (S.647), (ii) the Hydrogen for Industry Act (S.646), (iii) the Hydrogen for Trucks Act (S.648) and (iv) the Hydrogen Infrastructure Finance and Innovation Act (HIFIA) (S.649). While all four bills could play an important role in assisting the development of hydrogen infrastructure in the U.S., HIFIA is likely to be of outsize importance given its focus on addressing one of the most significant barriers to the widespread deployment of clean hydrogen: the ability to cost-effectively transport it from where it is produced to where it will be consumed. Senators Chris Coons (D-DE) and John Cornyn (R-TX) are the initiative’s original co-sponsors.
Speaking Energy
At least 78 new US carbon capture and storage (CCS) projects were announced between 2021 and 2022, signifying a historic inflection point for CCS projects.
The following is a summary of some notable projects in development in the US: