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Gemma Power Systems Receives Notice to Proceed on a 1.2-GW Power Project in Texas

LCG, April 8, 2025--Gemma Power Systems (“Gemma”), a wholly owned subsidiary of Argan, Inc. (“Argan”), has received a notice to proceed on its previously announced engineering, procurement and construction (“EPC”) services contract with Sandow Lakes Energy Company, LLC (“SLEC”) for a 1.2-GW power plant in Lee County, Texas. Construction of the natural gas-fired, combined cycle facility is scheduled to commence this summer, with an expected project completion date in 2028

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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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Industry News

North Korea Meets with Russia for Nuke Deal

LCG, March 26, 2002-Last week North Korean and Russian officials talked about joint energy endeavors.

North Korean parliamentary head Choe Thae Bok went to Moscow to speak with Russian industry official Ilya Klebanov about rail and electricity development, including building a nuclear plant.

North Korea has been dubbed part of an "axis of evil" by U.S. President Bush.

A 1994 agreement required the country to stop nuclear arms development. Many international experts say that the country is still retaining and possibly producing weapons-grade plutonium. The agreement also included inspections by the International Atomic Energy Agency.

With U.S. assistance two light-water nuclear reactors were slated to be built by 2003 according to this agreement, but now the project is not likely to happen for years. North Korea is looking for other avenues by which to develop nuclear power.

According to the Guardian, Moscow officials are hesitant to form any definite plans with the North Korean regime.

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