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Bill Gates headed to CERAWeek, Houston leader calls for collaboration, and more things to know this week

Bill Gates was announced as a keynote speaker at CERAWeek — and more things to know this week. Photo via breakthroughenergy.org

Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition: a roundup of events not to miss, a podcast to stream, and more.

Bill Gates heads to Houston for CERAWeek by S&P Global

Legendary Microsoft founder Bill Gates, who founded Breakthrough Energy and TerraPower, is headed to town for the 2024 CERAWeek. Gates will be featured in a luncheon fireside chat with S&P Global's Daniel Yergin on Thursday, March 21, at 1 pm.

CERAWeek by S&P Global 2024, with its theme of "Multidimensional Energy Transition: Markets, climate, technology and geopolitics," will zero in on the world's journey to zero-carbon, specifically exploring "strategies for a multidimensional, multispeed and multifuel energy transition," according to a news release. The programming will reflect on the reality of the energy transition, including its progress in different regions and across industries, technologies, and politics. Learn more.

Podcast: Scott Gale of Halliburton Labs calls for collaboration

Scott Gale will be the first to admit that hosting a week of curated events targeted to a group of individuals within the tech and energy space isn't a novel idea — Climate Week NYC has been taking over Manhattan for over a decade. But Gale believes Houston deserves to have its own time to shine.

Earlier this month, Halliburton Labs, Rice Alliance, and Greentown Houston announced the inaugural Houston Energy and Climate Startup Week 2024 to take place in September, but Gale, executive director of Halliburton Labs, says he hopes this is just the beginning of Houston organizations coming together to collaborate on the initiative.

"I think we have a really awesome initial coalition. Whether your the fifth company or organization to raise its hand to do something that week or the 50th — it really doesn't matter," Gale says on the Houston Innovators Podcast. "It really is an open invitation — and I want to make that super clear."

Events not to miss

Put these Houston-area energy-related events on your calendar.

  • CERAWeek 2024 is Monday, March 18, to Friday, March 22, in the George R. Brown Convention Center. Register.
  • DeCarb Connect supports senior leaders in decarbonization to accelerate strategy and decision making to reduce carbon emissions and reach net zero targets. The event is March 26 to 28 at Westin Houston Memorial City. Register.
  • On March 27, Greentown Houston is hosting "Accelerating Net-Zero Solutions: CCUS Innovation and Startup Showcase." Watch the Go Make 2023 cohort pitch their innovations in carbon utilization, storage, and traceability; hear about their work with Shell throughout the startup-corporate-partnerships accelerator; and learn from CCUS industry experts. Register.
  • On April 17, the University of Houston presents "Gulf Coast Hydrogen Ecosystem: Opportunities & Solutions" featuring experts from academia, industry, government, and more. The symposium begins at 8 am with a networking reception takes place beginning at 5 pm at the University of Houston Student Center South - Theater Room. Register.

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A View From HETI

ExxonMobil Chairman and CEO Darren Woods said the company was weighing whether it would move forward with a proposed $7 billion low-hydrogen plant in Baytown this summer. Photo via exxonmobil.com

As anticipated, Spring-based oil and gas giant ExxonMobil has paused plans to build a low-hydrogen plant in Baytown, Chairman and CEO Darren Woods told Reuters.

“The suspension of the project, which had already experienced delays, reflects a wider slowdown in efforts by traditional oil and gas firms to transition to cleaner energy sources as many of the initiatives struggle to turn a profit,” Reuters reported.

Woods signaled during ExxonMobil’s second-quarter earnings call that the company was weighing whether it would move forward with the proposed $7 billion plant.

The Biden-era Inflation Reduction Act established a 10-year incentive, the 45V tax credit, for production of clean hydrogen. But under President Trump’s One Big Beautiful Bill Act, the period for beginning construction of low-carbon hydrogen projects that qualify for the tax credit has been compressed. The Inflation Reduction Act called for construction to begin by 2033. The Big Beautiful Bill changed the construction start time to early 2028.

“While our project can meet this timeline, we’re concerned about the development of a broader market, which is critical to transition from government incentives,” Woods said during the earnings call.

Woods had said ExxonMobil was figuring out whether a combination of the 45Q tax credit for carbon capture projects and the revised 45V tax credit would enable a broader market for low-carbon hydrogen.

“If we can’t see an eventual path to a market-driven business, we won’t move forward with the [Baytown] project,” Woods told Wall Street analysts.

“We knew that helping to establish a brand-new product and a brand-new market initially driven by government policy would not be easy or advance in a straight line,” he added.

ExxonMobil announced in 2022 that it would build the low-carbon hydrogen plant at its refining and petrochemical complex in Baytown. The company had indicated the plant would start initial production in 2027.

ExxonMobil had said the Baytown plant would produce up to 1 billion cubic feet of hydrogen per day made from natural gas, and capture and store more than 98 percent of the associated carbon dioxide. The plant would have been capable of storing as much as 10 million metric tons of CO2 per year.

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