Chevron New Energies International (Chevron), and Mitsui Oil Exploration Co., Ltd (MOECO) today announced the signing of a joint collaboration agreement to explore the technical and commercial feasibility of advanced geothermal power generation in Japan.
Unlike water or gas, in the UK geothermal energy is not recognised by law as a natural resource. Bespoke regulatory systems, licensing and management are urgently needed along with government support to develop the UK’s geothermal sector, writes Dr Corinna Abesser of the British Geological Survey.
Newly elected President Ferdinand Marcos Jr reiterated his support for more renewable energy, as well as nuclear power, and natural gas, in the Philippines, one of Southeast Asia’s fastest growing economies. The news comes as plans to import maiden liquefied natural gas (LNG) cargoes into the country have stuttered due to surging global prices.
Getech, a geoenergy and green hydrogen company, has secured $2.15 million of new contracts. These include geoscience data sales and product renewals and extensions for the Group’s ground-breaking Globe knowledge base, which models the earth’s evolution over the last 400 million years.
The UK’s first end to end Geothermal business – CeraPhi Energy located in Great Yarmouth – has this month announced its commitment to deliver net zero carbon by 2040 with its signing of the Climate Pledge, a worldwide commitment made by companies and organisations across the globe.
Indonesia’s Medco Energi (IDX:MEDC) is on the lookout for more merger and acquisition (M&A) opportunities in Southeast Asia after successfully buying ConocoPhillips Indonesian assets in a $1.355 billion deal struck last year.
Chevron (NYSE:CVX) and Pertamina will together explore potential business opportunities in geothermal, carbon capture utilisation and storage (CCUS), as well as hydrogen, in Indonesia, after signing an agreement in Washington.