Shell secures a 609 MW combined-cycle power plant in the United States

Shell Energy acquires a 609 MW combined-cycle power plant in the ISO New England energy market, further strengthening its position in the U.S. gas and electricity sector.

Partagez:

Shell Energy North America (SENA), a subsidiary of Shell plc, has signed an agreement to acquire 100% of the shares of RISEC Holdings, LLC. This entity owns a 609-megawatt (MW) combined-cycle power plant located in the state of Rhode Island, USA. This acquisition will enable Shell to reinforce its position in the Independent System Operator New England (ISO New England) power market, a deregulated market where SENA has already been a significant player.

A strategic acquisition for the energy market

The power plant, equipped with two gas turbines, has been supplying the ISO New England market for several years. Demand for electricity is expected to grow as decarbonization efforts increase, particularly in the home heating and transportation sectors. Since 2019, SENA has held an energy conversion agreement for the entirety of the plant’s energy output.

Strengthening Shell’s position in America

This acquisition is part of Shell’s strategy to secure stable production capacity while optimizing trading opportunities in the U.S. energy market. Huibert Vigeveno, Shell’s Downstream, Renewables & Energy Solutions Director, emphasized the importance of this transaction in consolidating the company’s presence in this key U.S. region.

Outlook for energy growth

With this acquisition, Shell is leveraging its in-depth knowledge of the plant’s performance to maximize synergies with its existing energy portfolio. This reinforces its position in a market where energy needs are expected to increase significantly in the coming decades due to rising decarbonization goals.

Transaction details

Additionally, this acquisition is not expected to impact Shell’s capital expenditure guidance, which remains unchanged. However, the transaction is subject to regulatory approval and is expected to close in the first quarter of 2025.

  • Populaires ​
Austria introduces a 20% bonus for European photovoltaic equipment
CNOOC partners with KazMunayGas to explore the Zhylyoi subsoil area
Longi and Pertamina launch 1.6 GW solar plant in Indonesia
Chinese independent refiners poised to increase fuel oil imports
Jinko ESS and Metlen sign 3GWh battery storage deal for Chile, Europe
The drilling fluids industry will reach $10.7bn by 2032 driven by oil expansion and chemical innovations
The increase in oil drilling, deepwater exploration, and chemical advances are expected to raise the global drilling fluids market to $10.7bn by 2032, according to Meticulous Research.
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Enbridge Gas Ohio is assessing its legal options following the Ohio regulator's decision to cut its revenues, citing potential threats to investment and future customer costs.
Global small-scale LNG market to reach $31.78bn by 2030
The small-scale liquefied natural gas market is forecast to grow at an annual rate of 7.5%, reaching an estimated total value of $31.78bn by 2030, driven particularly by maritime and heavy-duty road transport sectors.
Europe extends gas storage obligations until 2027
The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Chevron and Energy Transfer Expand Their LNG Agreement at Lake Charles
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside completes sale of 40% stake in Louisiana LNG project to Stonepeak
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic takes over Royal Helium and fast-tracks Steveville plant restart
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
Fusion Fuel: Al Shola Gas secures AED4.4 mn ($1.2 mn) in contracts
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
Cheniere Energy Approves Expansion of Corpus Christi LNG Terminal for 2029
Cheniere Energy validates major investment to expand Corpus Christi terminal, adding two liquefaction units to increase its liquefied natural gas export capacity by 2029, responding to recent international agreements.
LNG industry could reduce emissions by 60%, according to IEA
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
Europe accelerates gas storage filling despite declining reserves
Europe is injecting natural gas into underground storage facilities at a three-year high, even as reserves remain below historical averages, prompting maximized imports of liquefied natural gas (LNG).
Seoul freezes electricity rates amid LNG supply risk concerns
South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
Russia ready to deliver liquefied natural gas to Mexico
Russia positions itself to supply liquefied natural gas to Mexico and considers expanded technological sharing in the energy sector, according to Russian Energy Minister Sergey Tsivilyov.
Israel resumes gas exports to Egypt and Jordan
Israel has partially resumed its natural gas exports to Egypt and Jordan following a week-long halt due to the closure of two major offshore gas fields, Leviathan and Karish.
Nepal Identifies Major Methane Reserve Estimated at 112 Billion m³
Nepal reveals a significant potential reserve of methane in the west of the country, following exploratory drilling conducted with technical support from China, opening new economic prospects.
Petronas and JOGMEC Sign Strategic Agreement around LNG Canada Project
Petronas formalizes a memorandum with JOGMEC to secure Japanese LNG deliveries, including a first cargo from LNG Canada scheduled for July at Toho Gas.
Serbia negotiates gas deal with Gazprom at competitive European price
Belgrade is currently finalising a new gas contract with Russia, promising Europe's lowest tariff, according to Srbijagas General Director Dusan Bajatovic, despite Europe's aim to eliminate Russian imports by 2027.
TotalEnergies and QatarEnergy secure strategic exploration licence in Algeria
TotalEnergies and QatarEnergy have won the Ahara exploration licence, marking a new stage in their partnership with SONATRACH on a vast area located between Berkine and Illizi.
TotalEnergies plans to restart its Mozambique gas project by summer 2025
After four years of interruption due to regional insecurity, TotalEnergies announces the upcoming resumption of its liquefied natural gas project in Mozambique, representing a $20bn investment.
TotalEnergies strengthens Malaysian foothold with new offshore blocks
The French group has acquired from PETRONAS stakes in several licences covering more than 100,000 km² off Malaysia and Indonesia, consolidating its Asian presence and its exposure to the liquefied natural gas market.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS