The Netherlands will cut its gas stockpiling target by 10 percentage points to 64% of storage capacity, or 93 terawatt-hours, in response to the European Commission's wider call for reduced stockpiling amid the ongoing Middle East conflict.
The government said in a Friday notice that it expects to meet the new target between Oct. 1 and Dec. 1, and considers it more than sufficient to cover the country's average needs for the winter season.
Shell (SHEL.L, SHELL.AS) said Thursday it agreed to divest its interests in a gas turbine power plant in the US to energy production company Constellation Energy Generation for $715 million.The European oil and gas company's Shell Energy North America (US) subsidiary will transfer the interests in Risec Holdings, which owns the 609-megawatt, two-unit combined cycle gas turbine power plant, as part of the transaction.Completion is expected in the first quarter of 2027, subject to regulatory approvals.
Shell (SHEL.L, SHELL.AS) said Thursday its subsidiary Shell Energy North America agreed to acquire 100% of Hunlock Creek Generating LLC, which owns 169 megawatts of natural gas-fired generation capacity in Pennsylvania, US.Owned by Riverview Power Holdings LLC, Hunlock comprises a two-unit, 125-megawatt combined-cycle power plant and a 44-megawatt simple-cycle peaking plant.The acquisition is expected to boost the Shell unit's access to power supply and capacity offtake in the Mid-Atlantic grid operated by PJM Interconnection, the biggest wholesale electricity market and grid operator in the US.
Magnolia Oil & Gas (MGY) said on Thursday that it has completed its previously announced $4.06 billion acquisition of WildFire Energy.