TotalEnergies Powers Up: $635M Texas Gas Plant Deal Fuels Renewable Strategy

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Lone Star Stories

• Oil Giant Drills for the New Gold: ExxonMobil's Lithium Leap

ExxonMobil is venturing into lithium extraction in Arkansas, aiming to use oil drilling techniques to produce enough lithium for over 1 million electric vehicles annually by 2030, with its first production targeted for 2027. The initiative, Mobil Lithium, will utilize direct lithium extraction technology to separate lithium from saltwater, offering a more environmentally friendly approach compared to traditional mining and aligning with the rising demand for EVs and battery materials.

• TotalEnergies Powers Up: $635M Texas Gas Plant Deal Fuels Renewable Strategy

TotalEnergies SE acquired three gas-fueled power plants in Texas from TexGen Power LLC for $635 million, enhancing its renewable energy portfolio in the state and ensuring stable power supply to Dallas and Houston. These power plants, with a combined capacity of 1.5 GW, will support TotalEnergies' 2 GW of renewable capacity in Texas, adding flexibility and reliability to the energy grid, especially during peak demands and intermittent renewable energy production.

Reader Question of the Day

How is carbon capture and storage being integrated into existing oil production infrastructure?

Carbon capture and storage (CCS) is like giving oil production a green makeover. Companies are attaching special equipment to their existing infrastructure, like factories and power plants, to catch the CO2 before it can escape into the air. This is like putting a big vacuum cleaner on the chimney that sucks up the carbon dioxide. Once captured, this CO2 is then transported, often through pipelines, to places where it can be stored safely underground, like in old oil fields or deep rock formations.

Integrating CCS into oil production is a bit like adding a recycling system to your home. It's a way to keep doing what you're doing but in a cleaner, more planet-friendly way. By storing the CO2 instead of letting it out into the atmosphere, oil companies are helping to reduce greenhouse gases and combat climate change. It's a step towards making oil production more sustainable and less harmful to our planet.

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