WorldWide Drilling Resource

$8 Billion in Loan Guarantees for Fossil Energy Projects Adapted from Information by the U.S. Department of Energy The U.S. Department of Energy (DOE) is offering up to $8 billion in loan guarantees for advanced fossil energy technology. The DOE is seeking applica- tions for loan guarantees to finance proj- ects and facilities located in the United States which avoid, reduce, or sequester greenhouse gases for fossil energy proj- ects. Loan guarantees under this new solicitation will help provide financing for new, or significantly-improved ad- vanced, fossil energy projects such as advanced resource development, carbon capture, low-carbon power systems, and efficiency improvements which reduce emissions of carbon dioxide, methane, and other greenhouse gas pollution. “...the Energy Department is taking an all-of-the-above approach toAmerican energy to ensure we develop all our abun- dant energy resources responsibly and sustainably,” said Secretary Moniz. “Cur- rently providing 80% of our energy, coal and other fossil fuels will continue to be a critical part of our energy portfolio as we move toward a low-carbon future. By helping to accelerate the introduction of innovative, clean fossil energy technologies ready for deployment at commercial-scale today, investments under this solicitation will help ensure we continue to have access to affordable, clean energy from all our domestic energy resources tomorrow.” A few examples of eligible projects include: Advanced Resource Development % Oil and gas drilling, stimulation, and completion technologies (including dry fracking) which avoids, reduces, or se- questers greenhouse gase emissions. % Coalbed methane recovery to reduce methane emissions into the atmosphere associated with coal mining. % Underground coal gasification. % Methane emissions capture from pro- duction, transmission, or distribution. Carbon Capture % CO 2 capture from synthesis gases in fuel reforming or gasification processes. % CO 2 capture from flue gases in tradi- tional coal or natural gas electricity gen- eration. Low-Carbon Power Systems % Coal or natural gas oxycombustion. % Chemical looping processes. % Hydrogen turbines. % Synthesis gas, natural gas, or hydro- gen based fuel cells. Efficiency Improvements % Combined heat and power. % Waste heat recovery on industrial facil- ities. % High-efficiency distributed fossil power systems. 57 WorldWide Drilling Resource ® FEBRUARY 2014 7?6 -*5* +.2&00< 45.0 #4*&5+.6- 30.)&< 22 &2) 329*27.32 *27*5 !-32* > 35 320.2* 5331 '33/.2, 86* ,5384 (3)* % ::: -30.)&< .22 (31 64*&5+.6-6) ".(- &55< 32+*5*2(* 335).2&735 5.(- '&55< ,:7( 2*7 35 135* .2+351&7.32 35 73 5*,.67*5 320.2* ,3 73 24(.6** 35, #(-*)80* %*)2*6)&< &1 "*,.675&7.32 &1 0&< #-337 30+ #(5&1'0* &2) 5&=< 356* 3827&.2 $385 332 82(- !3306.)* 332 41 ;-.'.76 4*2 41 #*66.326 41 !5.1*5 385 $-856)&< &1 41 "*,.675&7.32 ;-.'.76 4*2 &1 41 #*66.326 &2) !3306.)* 82(- 41 3367*5 385 41 :&5)6 &2) .9* #(-30&56-.4 8(7.32 5.)&< &1 332 ;-.'.76 @#*66.326 +3003:*) '< 82(- !3306.)* #** <38 7-*5* % High-temperature materials for fossil- based systems. All fossil fuels, including coal, natural gas, oil, shale gas, oil gas, coalbed meth- ane, methane hydrates, and others will be considered. The solicitation also in- cludes new provisions intended to ensure quick review for potential projects. With the publication of the Advanced Fossil Energy Projects solicitation, the Department is accepting applications through the Loan Programs Office web portal at apply.loanprograms.energy.gov, and expects to receive initial applications by the end of the month.