Why Are Oil and Gas Companies Investing in Nuclear Fusion?
September 18th, 2020In other words: Complex, expensive, centralized infrastructure is par for the course for oil companies.
Via: GTM:
Betting on fusion looks like a long shot for oil and gas companies, which are increasingly focused on here-today energy plays such as offshore wind and longer-term bets like green hydrogen.
But oil and fusion may have more in common than meets the eye, said CFS CEO and co-founder Bob Mumgaard. “A fusion system is a power-dense energy source that makes heat,” he told GTM in an interview. “When you build one, you’re not pulling down watts or kilowatts or megawatts.You’re pulling down hundreds of megawatts.”
“The types of skills [are the same] you would see if you were building a refinery. It’s project management and EPC [engineering, procurement and construction]-like functions, supply chain procurement and operations.”
Benj Conway, president and co-founder of Zap Energy, claims “the key ingredients” of the two energy disciplines are potentially very similar.
“Energy markets are complex, global, very material, capital-intensive, technology-driven, involve long-term commitments and require enduring marketing, regulatory and governmental agreements,” Conway said in an email. “This applies to oil [and] gas as well as prospectively fusion-derived electricity.”
The overlap between oil and fusion is neatly illustrated by Zap’s board, which features former fossil-fuel executives alongside nuclear research and plasma experts.
