((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(More details on Exxon’s plans and US electricity demand) by Shariq Khan and Shashwat Awasthi
Chevron Corp CVX.N and Exxon Mobil artificial intelligence of the technology industry, company executives said separately on Wednesday.
Chevron has been in discussions for more than a year about providing electricity from natural gas, combined with carbon capture technologies, to data centers, Jeff Gustavson, president of Chevron New Energies, said during from an interview at the Reuters NEXT conference in New York.
Mr. Gustavson’s comments follow a similar announcement by Exxon Mobil XOM.N on Wednesday, which said it was working to provide data centers with low-carbon electricity by combining carbon capture with natural gas-fired power plants by the end of the decade.
“We’re working on that as well,” Gustavson said, adding that Chevron’s experience supplying natural gas around the world and operating natural gas power generation equipment places the The company is well positioned to meet the booming power demand of data centers.
“This aligns with many of our capabilities – natural gas, construction, operations, and the ability to provide customers with a pathway to low-carbon electricity through CCUS (carbon capture, utilization and storage) , geothermal, and perhaps other technologies,” Gustavson said.
Oil companies, which typically produce electricity only for their own operations, would enter the broader electricity market at a time when demand is rising sharply.
The growth of technologies such as generative artificial intelligence is expected to propel U.S. electricity demand to a record high in 2025, after stagnating for around two decades.
The urgent need for electricity has prompted the U.S. power industry to invest in new natural gas infrastructure and push to delay the retirement of fossil fuel power plants.
This rush to electricity has also led some big tech companies to roll back their climate commitments, which previously required the EXCLUSIVE use of renewable sources, such as wind and solar power, for their data centers. energy-intensive artificial intelligence.
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