Jun 7, 2016

Gazprom invests $1.5 billion in Kyrgyzstan gas pipelines

Admin
1 min
Gazprom is investing $1.5 billion in gas pipelines flowing from Kyrgyzstan with one third to be spent within tw...

Gazprom is investing $1.5 billion in gas pipelines flowing from Kyrgyzstan with one third to be spent within two years and the remainder by 2030.  

Russia’s Prime Minister Dmitry Medvedev has been visiting Kyrgyzstan for a meeting of the Commonwealth of Independent States (CIS) heads of state, following on from talks with President Almazbek Atambayev and Prime Minister Sooronbay Jeenbekov.

Around 20 percent of Kyrgyzstan can access the country’s gas supplies, with the Gazprom investment expected to increase this to around 60 percent. The news follows repeated frustrations between the nations regarding finance for hydropower projects, and will greatly enhance the energy infrastructure of the country while strengthening Eurasian economic ties.

The agreement struck by Medvedev also entailed a duty free oil and petroleum products deal, meaning Russia will not charge tariffs on such products entering Kyrgyzstan for domestic consumption. This could be a significant development given Russia supplies more than 90 percent off all fuels to its Eurasian neighbour.

Founded in 1989, Gazprom is one of Europe’s largest energy companies with revenues of more than $100 billion and a workforce of more than 400,000. It is half-owned by the Russia government. 

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Apr 16, 2021

Hydrostor receives $4m funding for A-CAES facility in Canada

energystorage
Canada
Netzero
Dominic Ellis
2 min
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction...

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.

The project has support from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada.

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. 

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