CITGO Petroleum reaches agreement with Louisiana
CITGO Petroleum Corp. has entered an agreement with the State of Louisiana and other companies to conduct a portion of environmental remediation measures in the Bayou d'Inde, an estuary of the Calcasieu River.
The agreement comes as a result of cooperation with the Environmental Protection Agency (EPA), the Louisiana Department of Environmental Quality (LDEQ) and other companies since EPA initiated a broad investigation of conditions in the area of the Calcasieu River Estuary in 1998.
Bayou d'Inde was one area identified for further investigation. CITGO, along with other companies, cooperated in a further investigation that identified specific areas of Bayou d'Inde that need corrective action to make the environment safer from potential exposure. That investigation was completed in 2009.
CITGO has agreed with the LDEQ to remediate the assigned areas, which include an area upstream of the Old Highway 108 bridge and a small portion of the fringe marshes below the Highway 108 bridge. The remainder of the cleanup will be handled by, and be the responsibility of, other parties.
According to a CITGO spokesperson: “We recognize that safety, the health of our employees and environmental stewardship are every employee's responsibility. Our cooperation with the LDEQ and other companies operating in the area of Bayou d'Inde is part of our ongoing commitment to these core values and the communities where we operate.”
CITGO, based in Houston, is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. The company is owned by PDV America Inc., an indirect wholly owned subsidiary of Petroleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.