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>RWE said that it will now reinvest the sum into conventional gas projects, including $900m (£669m) in a liquefied natural gas (LNG) export terminal project in
by evan_a_a 1mo ago
>RWE said that it will now reinvest the sum into conventional gas projects, including $900m (£669m) in a liquefied natural gas (LNG) export terminal project in Louisiana.
- morkalork 1mo agoThat kinda stinks, I wonder if getting the settlement was contingent on the re-investment.
- ambicapter 1mo agoIt was.
- morkalork 1mo agoSo RWE gets to save face by "winning a payout" but in actuallity the admin is just indirectly subsidizing O&G development in a red state. Wonderful.
- eigenspace 1mo agoYeah, they say that, but I wonder how much of it is just to make the Trump admin happy. Like, I don't doubt that they will go and build gas projects, and might even use some of this money to kickstart it, but presumably RWE was already pretty far along the pipeline of preparing this offshore buildout, and there's likely a lot equipment orders, staff, ships, etc that they'd rather not cancel, and would rather redirect into another project if they can. Maybe that's copium from me though, just sad to see a big wind project go to waste.
- evan_a_a 1mo agoThey'll certainly continue wind projects, just not likely in the US and not with this money.
- eigenspace 1mo agoRight, I just mean I wonder how much of the buildup to this project will be wasted.
- evan_a_a 1mo agoThey've been in a stop work since April 2025 so that buildup is likely all gone or already reallocated. https://www.reuters.com/sustainability/climate-energy/rwe-has-stopped-offshore-wind-activities-united-states-2025-04-25/ https://www.reuters.com/sustainability/climate-energy/rwe-ha...