KeyState Energy and CNX Resources, in partnership with Pittsburgh International Airport (PIT), plan to bring a hydrogen facility to PIT to accelerate hydrogen and sustainable aviation fuel (SAF) development, according to a May 15 press release.
The facility can produce hydrogen solely, reaching up to 68,000 metric tons annually, or SAF solely, reaching up to 70 million gallons per year, the release said.
A facility of the proposed size and scope would produce enough alternative fuel to supplant nearly all traditional jet fuel consumption at PIT at a price on par with conventional Jet A, the companies said.
Pennsylvania Governor Josh Shapiro said the state is the only one to secure two regional clean hydrogen hubs. He added that the further Pennsylvania builds out the hubs over the next several years, the more innovation, job creation and opportunities will hit the state.
"We're proving that you don't have to choose between protecting the planet and protecting jobs – and the partnership between KeyState Energy, CNX Resources and Pittsburgh International Airport will create thousands of jobs and cut fuel costs for airlines, all while reducing pollution and making our communities safer and healthier,” Shapiro said.
The companies said that the approximately $1.5 billion project could support 3,000 direct construction jobs through the development phase.
This initiative builds on CNX and PIT's previously announced alternative fuel strategy in 2022.
Recommended Reading
Five Point Closes Infrastructure Fund with $1.4B in Commitments
2024-09-09 - Five Point Energy, which created newly public Permian Basin company LandBridge, said its Five Point Energy Fund IV was oversubscribed from a target of $1.25 billion.
Diamondback to Sell $2.2B in Shares Held by Endeavor Stockholders
2024-09-20 - Diamondback Energy, which closed its $26 billion merger with Endeavor Energy Resources on Sept. 13, said the gross proceeds from the share’s sale will be approximately $2.2 billion.
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
2024-10-11 - As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
Wildcatter at Heart: Autry Stephens (1938-2024)
2024-08-18 - Legendary wildcatter Autry Stephens, founder and chairman of Midland Basin E&P Endeavor Energy Resources, stayed true to his “never sell” strategy.
Quantum Raises $10B for Oil, Gas, Midstream, Energy Transition
2024-10-29 - Quantum Capital Group raised $5.25 billion for its private equity flagship, Quantum Energy Partners VIII. A source told Hart Energy that most of the firm’s capital has gone into oil and gas because it offers the best risk-adjusted returns.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.