Pulling the Plug on the Atlantic Coast Gas Pipeline

Pulling the Plug on a Major Pipeline; New South Wales Going Straight From Coal to Renewables; EU Launches Green H2 Strategy; Saudi Arabia Announces Huge H2 Project

1) Duke Energy & Dominion Energy announced cancellation of Atlantic Coast, a 600-mile planned gas pipeline from West Virginia's Marcellus to Southern North Carolina. Gas is increasingly under pressure.

2) The New South Wales government confirmed it will call for 8,000 megawatts of wind, solar and energy storage, shifting away from coal straight to renewables without a gas bridge.

3) The EU launched its new green hydrogen strategy and may need as much as 80,000 to 120,000 MW of wind and solar resources to power electrolyzers, creating 6,000 megawatts of electrolyzer capacity by 2024, producing up to 1 million tons of H2. The plan calls for major R&D investments, regulatory changes, and development of new markets.

4) Saudi Arabia is charging ahead with H2. Air Products signed with Saudi-based ACWA Power International to develop a $5 billion hydrogen-based ammonia plant powered by renewable energy and capable of producing 1.2 million tons of ammonia annually and 650 tons of hydrogen daily. The H2 party is just getting started.