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NeuVentus Receives Storage Permits for its Texas Reliability Underground (TRU) Hub Salt Cavern Storage Project

LCG, April 4, 2025--NeuVentus, LLC ("NeuVentus") announced this week the receipt of a final order from the Railroad Commission of Texas (RRC) that grants a subsidiary of NeuVentus authority to create and operate 12 salt caverns for storage of a variety of gases (including natural gas and hydrogen) and liquids at its Texas Reliability Underground Hub ("TRU Hub") salt cavern storage project located in Liberty County, Texas.

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X-energy and Dow Submit Application to the NRC to Construct an Advanced Nuclear Project in Texas

LCG, March 31, 2025--Dow and X-Energy Reactor Company, LLC ("X-energy") today announced the submission of a construction permit application to the U.S. Nuclear Regulatory Commission ("NRC") for a proposed advanced nuclear project in Seadrift, Texas. The proposed advanced small modular reactor ("SMR") project could begin construction later this decade and commence operations early next decade.

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Industry News

Czech Power, Gas Industries to be Sold

LCG, Aug. 27, 2001--The Czech government will offer for sale the country's electricity and gas industries, hoping to complete the huge privatizations before next year's election, the Financial Times reported Friday.

The sell-offs are necessary to enable the Czech companies to compete in the liberalized European Union energy markets and their proceeds are needed by the Czech Republic to close its budget deficit, the paper said.

The government owns 67 percent of CEZ, the dominant electric generation business, which has a market capitalization of $1.2 billion, but it want to be paid $4 billion for 64 percent of that. Last month Deloitte & Touche was selected to make that wish come true.

Deloitte will also manage the sale of six of the country's eight regional electric distribution companies. ABN Amro was chosen to sell a package of 97 per cent of Transgas, the natural gas transportation company, together with mostly majority stakes in all eight regional gas distributors.

A combination of circumstances should get the Czech government a premium for CEZ. The company's power plants are in good condition and produce low-cost power, the Czech domestic power market is strong and growing, and there is significant interest in the power sector.

Electricit de France, International Power and British Energy of the UK, RWE of Germany, AES of the US, and Enel of Italy have already declared interest in the CEZ sale.

The Financial Times said the government also hopes to receive more than $2 billion for the gas industry, which includes the main pipeline from Russia to western Europe. Two rival consortia have so far come forward: Gaz de France, Ruhrgas, and Snam, and RWE with Wintershall, the paper said.

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