Energy transition
The new publication, created with the support of and in partnership with Project InnerSpace, looks at all aspects of the burgeoning geothermal industry.
The GRMS system of standardization and classification for geothermal resources, led by a coalition of stakeholders in collaboration with Project InnerSpace and the Society of Petroleum Engineers, will be published in November.
This paper presents a flexible, highly cost- and energy-efficient method of gas separation and CO₂ capture from many different gas mixtures with a large range of CO₂ concentrations.
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The companies have announced they will work together to integrate geothermal well engineering and project delivery globally. -
A recent report from Wood Mackenzie highlights the role of natural gas in supporting renewables and reducing emissions.
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Closed-loop geothermal systems have entered the new-energy arena to generate electricity using the underground as a heat exchanger.
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Equinor will reduce investments in renewables over the next 2 years by 50% to $5 billion and will increase its focus on oil and gas production, expecting more than 10% growth from 2024 to 2027.
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The companies said they plan to work together on developing geopressured geothermal systems for low-carbon energy storage and geothermal power generation.
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Greenhouse gases are woven into every stage of a well’s life, which presents challenges that demand creative solutions that do not require too much capital.
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Wood Mackenzie reports that prices would need to rise, capital discipline would need to evolve, and spending would need to increase by 30% for the upstream sector to meet demand in a delayed energy transition scenario.
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The agreement aims to accelerate new commercial technologies that address challenges with geothermal development.
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GEODE is a consortium led by Project InnerSpace and the Society of Petroleum Engineers and funded by the US Department of Energy’s Geothermal Technologies Office.
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Geothermal energy in the US has historically been concentrated in the West due to favorable geology, but emerging technologies have expanded the possibilities.
