Market Trends

The 2024 Handbook features coverage on compressors for carbon capture, transient faults in lube oil systems, industry forecasts, and our annual company directory and equipment specifications.

The companies signed a memorandum of understanding to plan construction for a global-scale ammonia plant in Lake Charles, LA.

The Department of Energy (DOE) has granted up to $1 billion in funding for the production and use of hydrogen in the Midwest.

The company will serve as a sub-recipient for the Pacific Northwest Hydrogen Hub and the HyVelocity Hub, as per the DOE’s energy program.

The Kawasaki-designed LPG carrier—capable of storing and transporting liquefied petroleum and ammonia—has been delivered.

10,000 acres of land in Upton and Midland counties will be used for Milestone Carbon’s injection and storage of CO2.

The theme of this year’s show demonstrated the continued importance of turbomachinery in everyday life.

Trace Carbon Solutions has rights to develop and operate a carbon sequestration hub in Louisiana and Texas, capturing an estimated 250 million tons of CO2.

The acquisitions were made for a combined $26 million, broadening Ingersoll Rand’s portfolio of air compression and technical support capabilities.

The assets of Crown Energy—New York customers and natural gas supply infrastructure—have been absorbed by EnergyMark in the deal.

Synthesizing alternatives to iridium oxide will allow for cheaper hydrogen production at increased scale.

The finalization of $380 million Series C financing enables the company to meet hydrogen manufacturing demands.

SoCalGas has pledged its commitment and $500,000 in funding to ClearSign’s Hydrogen Ultra Low NOx burner project.

The funding will be put toward the financing of NextDecade’s LNG trains at the Rio Grande LNG export facility in Brownsville, TX.

The Turbomachinery & Pump Symposia in Houston, TX, held at the George R. Brown Convention Center, runs Sept. 25 – 28, 2023.

One million tons per annum of LNG will be supplied by EQT for Commonwealth LNG’s facility in Cameron, LA.

Verdagy’s facility will produce water electrolyzers at increased scale, beginning operations in early 2024.

The joint venture executes an operating agreement for offshore carbon capture and storage at the Cameron Parish CO2 hub.

The commercial agreement secures additional regasification capacity at the Gate Terminal B.V. LNG hub in the Netherlands.

Microsoft’s purchase will help scale and reduce the cost of Heirloom’s direct air capture facilities.

The company sold its 42% non-controlling interest to KKR.

Dominion Energy sells its 50% limited partnership stake to Berkshire Hathaway, raising the company’s partial ownership of Cove Point LNG.

The private water desalination company is cooperating with six Italian enterprises to further developments in green hydrogen production and water desalination.

The Woodfibre LNG facility has committed the sale and offtake of its LNG output to bp for a 15-year contract.

Four Pipestone assets have been acquired by AltaGas to expand its portfolio of LPG production and supply.

The MRO facility is part of a 50/50 joint venture and will commence operation in 2026.

Full ownership interest in Carbonvert’s carbon capture and sequestration (CCS) project has been sold to Equinor.

ASCE Florida selects New River RNG for its use of technology in emissions reduction and low-carbon transportation fuel.

Development funding has been completed for Commonwealth’s LNG export facility in Cameron, LA.

Purchase price not disclosed, Atlas Copco absorbs the Australian manufacturer of wastewater solutions, Sykes Group.