Chevron and Exxon are planning to enter the electricity supply business using natural gas with carbon capture to meet the booming demand from data centers.
Chevron and Exxon are both planning to venture into the electricity supply business to take advantage of the surge in demand expected to come from the proliferation of data centers . The majors would focus on natural gas plus carbon capture to ensure the supply is low-emission, Reuters reported this week, citing company executives from both Exxon and Chevron .
AI and the data centers necessary to power the technology is seen driving electricity demand in the United States to a record high this year and next, according to the Energy Information Administration. In the same report—the Short-Term Energy Outlook—the EIA also said it expected the share of natural gas in the U.S. energy mix to inch up from 42% last year to 43% this year. It then expects gas to dip to 40% of the total, as wind and solar expand to 25% next year.
Exxon Electricity Supply Data Centers Natural Gas Carbon Capture AI Artificial Intelligence Renewables Batteries
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