FINWIRES · TerminalLIVE
FINWIRES

Constellation Buys Stake in Pine Creek RNG Facilities in Clean Energy Push

By

Constellation Energy (CEG) said on Thursday it had agreed to purchase a minority equity stake in five operating renewable natural gas facilities owned by Pine Creek RNG, expanding its push into low-carbon fuel markets.

The portfolio, located across Washington, Utah, Iowa, and Illinois, currently produces about 1.5 million MMBtus of RNG per year. The agreement also establishes a framework for the two energy firms to jointly develop an additional 3 million MMBtus of RNG production capacity per year.

RNG is produced from organic waste sources such as landfills, wastewater treatment plants, and agricultural digesters. Once processed, it can be injected into pipelines or used as fuel for transport fleets or on-site power generation.

Constellation Energy operates a diversified generation fleet across nuclear, natural gas, wind, hydro, solar and geothermal assets, with about 55 gigawatts of capacity, enough to power about 27 million homes.

Price: $275.80, Change: $+0.91, Percent Change: +0.33%

Related Articles

Commodities

EMEA Natural Gas Update: Futures Rise as Middle East Risks, LNG Supply Constraints Persist

European natural gas futures rose in after-hours trading as markets weighed developments in Middle East peace efforts and high-level discussions between US President Donald Trump and Chinese President Xi Jinping.The front-month Dutch TTF contract gained 1.535% to 47.64 euros ($55.62) per megawatt hour, while the UK NBP front-month rose 1.704% to 116.99 British pence ($1.57) per therm.Investing.com reported that some analysts believe Trump could seek to involve China, one of the largest importers of Iranian oil, as a potential guarantor in any longer-term peace framework, though Beijing's willingness to take on such a role remains uncertain.Supply risks continue to underpin sentiment. The near-shutdown of the Strait of Hormuz has curtailed roughly one-fifth of global LNG flows, with shipping effectively constrained by both sides of the conflict. While most Gulf exports typically flow to Asia, the disruption has tightened global LNG availability, intensified competition for cargoes, and increased Europe's vulnerability ahead of the winter storage season, according to Trading Economics.Data from Gas Infrastructure Europe showed EU gas storage at 35.72% of capacity, down from 43.10% a year earlier.Brussels Signal reported that reaching typical pre-winter storage targets would require an increase of 45.7 percentage points within five months, implying roughly 130 LNG cargoes per month, around 10 more than in 2024.Citing consultancy Tempos Energia, Brussels Signal said that if the Strait of Hormuz reopens in June, the first LNG cargoes could reach Europe by late July. Under that scenario, inventories could climb to 70%-75% of capacity before the heating season, above critical levels but still below the five-year average.However, if the strait remains closed, the consultant reportedly warned that June could mark a "first breaking point," with Dutch TTF prices potentially ranging from 52 to 62 euros/MWh.ANZ analyst Daniel Hynes said North Asian LNG prices have also edged higher as stalled US-Iran talks weigh on expectations for supply stability, adding to global competition for cargoes and reinforcing upward pressure across benchmark gas markets.

Commodities

US Import Fuel Prices Saw Biggest Jump Since 2022, Bureau of Labor Statistics Says

US import prices for fuel and lubricants jumped 16.3% in April, marking the largest monthly increase since prices rose 17.8% in March 2022, the US Bureau of Labor Statistics said Thursday.Fuel and lubricant import prices accelerated after rising 10% in March, as higher petroleum costs outweighed falling natural gas prices.Import prices for petroleum and petroleum products climbed 19% over the month, driving most of the increase in overall fuel import costs.Import natural gas prices moved in the opposite direction during April, falling 22.1% from the previous month, according to the data.Prices for imported fuels and lubricants increased 20% over the year.Over the past 12 months, the price index for imported petroleum and petroleum products rose 22%, the data showed.Natural gas import prices edged up 0.1% over the year despite the sharp monthly decline recorded in April, the agency added.

Commodities

Canada Launches National Electricity Strategy to Double Grid Capacity by 2050

Canada's Prime Minister, Mark Carney, on Thursday announced a national strategy to double Canada's electricity generation capacity by 2050, while signaling the federal government will ease clean electricity rules to allow greater flexibility for natural gas generation.In a statement released by the prime minister's office, the government said Canada must respond to rising electricity demand driven by industrial growth, artificial intelligence, and electrification by building what it called a more "affordable, competitive, and sustainable" economy."Electricity is the clear solution to Canada's energy security, affordability, and competitiveness," the statement said, adding that national electricity demand is expected to double by 2050.The government said it is launching consultations with provinces, territories, Indigenous groups, utilities, and unions to develop the strategy, which aims to expand generation, transmission, storage, and grid modernization across the country.According to the statement, the strategy could lower total energy costs for seven in 10 Canadian households and deliver up to 15 billion Canadian dollars ($10.9 billion) in energy savings by 2050. It also said achieving those savings would require "a willingness to use a wide range of energy - including natural gas.""That's why we intend to adjust clean electricity regulations to provide the flexibility needed to keep energy costs for all Canadian families reliable and affordable, while reducing emissions and building the clean energy system of the future," the statement said.Bloomberg reported that the total cost of expanding Canada's electricity grid is expected to exceed C$1 trillion ($729 billion), with costs shared among federal and provincial governments and private-sector investors.The strategy contains a few concrete measures and instead focuses on consultations over the coming months."Doubling our grid will not be easy. The scale is huge, the timeline short, and the task of getting the right mix of power complex," Carney said at a news conference in Ottawa, according to Bloomberg."Get it wrong, and Canadians will pay higher utility bills. Be too timid, and Canadians will end up short of power - losing good jobs and growing reliant on foreign suppliers," he reportedly said.The strategy outlines four main priorities: expanding electricity infrastructure, improving east-west and northern transmission connections between provincial grids, training more than 130,000 skilled workers needed by 2050, and increasing domestic manufacturing of grid technologies.The prime minister's office said the government would also expand financing and grants for energy-saving retrofits for up to one million homes, including support for replacing oil, propane, and electric baseboard heating with electric heat pumps.Bloomberg reported that the announcement came ahead of an expected industrial carbon pricing agreement with Alberta tied to a proposed west coast oil pipeline and the Pathways carbon capture project in the oil sands. Carney said the government would support a pipeline capable of transporting at least one million barrels per day of what he described as "low-emission Alberta oil" to new markets.