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Chernobyl Nuclear Power Plant is cut off by Russian bombardment
Ukraine's Energy Ministry announced on Wednesday that Russian air strikes had cut power to decommissioned Chernobyl Nuclear Power Plant. This included a new containment system erected to minimize contamination from the largest nuclear accident in history. Officials from the energy sector also confirmed that the shelling caused a mass outage of power in Chernihiv, affecting 307,000 customers close to Ukraine's border with Russia. The Chernihiv governor stated that generators have been installed at key sites, such as hospitals. Emergency crews are working to restore the power grid. The Energy Ministry's statement did not mention any increased risk of radioactive releases as a result the cutoff of power to the now defunct Chernobyl plant. It said that emergency crews are working to restore power. A statement from the ministry said that "as a result of Russian shelling energy infrastructure in Kyiv's region, in the city Slavutych," an emergency situation had arisen at Chernobyl nuclear power plant facilities. The new safe confinement unit, which isolates the destroyed fourth power module of the Chernobyl plant and prevents radioactive materials from being released into the environment due to power surges, was left with no power supply. In the statement, it was stated that teams of experts are working to restore power to this facility. Soviet engineers quickly built a "sarcophagus", or protective enclosure, around the Chernobyl Station's fourth nuclear reactor after it exploded and caused radioactivity to spread throughout Europe in April 1986. In 2016, this was replaced with a new containment structure, while the other three reactors of the plant were slowly taken out. The plant was briefly taken over by Russian forces as part of their invasion of Ukraine in 2022. In February, a Russian drone penetrated the roof of the confinement structure. Bill Berkrot edited the report by Ron Popeski, Oleksandr Kozoukhar and Bill Popeski.
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Sources say that KKR is exploring the sale of a stake worth $7 billion in Canada's Pembina Gas Infrastructure.
Four people with knowledge of the matter confirmed on Wednesday that KKR was exploring the possibility of selling its 40% stake in Pembina Gas Infrastructure. The value placed on its ownership in the Canadian midstream operator is expected to be around $7 billion. Pembina Gas Infrastructure is a joint venture formed by Pembina Pipeline Corp and an investment firm in 2022. It owns infrastructure for natural gas, natural gas liquids, transportation, storage, and processing in Western Canada. Sources said that KKR had been working with Scotiabank's investment bankers in recent weeks in order to gauge interest from potential buyers in the stake. They cautioned, however, that there was no guarantee of a sale and spoke under condition anonymity in order to discuss confidential information. KKR and Scotiabank declined to comment. Pembina Pipeline has not responded to requests for comment. Sources said that the KKR stake is expected to attract other alternative asset managers as well as infrastructure funds. These buyers are attracted to minority stakes because they can earn steady returns without having any operational knowledge. Sources said that it is rare to have a substantial stake in a large Canadian pipeline asset, adding that this gives the Pembina Gas share an additional scarcity value. The Canadian energy sector has seen a strong deal activity this year. Investors have been paying attention as companies consolidate and scale up to meet the growing demand for energy and infrastructure projects. Pembina Gas, when it was created, was valued at C$11.4billion ($8.17billion) by the parties. This meant that a sale to KKR for the price proposed would have been a significant profit for the investment company. Pembina has grown by bringing projects online and buying additional assets. Pembina Gas, according to their website, has the capacity to process 5 billion cubic feet of natural gas per day, and they have assets in both the Montney shale and Duvernay formations.
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Einride, a self-driving truck manufacturer, raises $100 Million
The latest funding round for Swedish self-driving vehicle startup Einride raised $100 million from investors including asset management company EQT Ventures, and quantum computing firm IonQ at an undisclosed value. The company said that the capital would allow them to expand their customer base, develop new technology and scale up the deployment of their autonomous freight trucks. Self-driving trucking technology is a promising way to grow the long-haul and freight industry. However, it faces regulatory scrutiny. As they follow fixed routes, usually on highways with no pedestrians or intersections, self-driving services do not require as much mapping. Einride will raise $110 million in 2021 from investors including Maersk Venture Capital and Singapore's state investor Temasek. The company entered the U.S. in the following year and acquired GE Appliances as well as Swedish vegan milk producer Oatly, and tire manufacturer Bridgestone. (Reporting and editing by Vijay Kishore in Bengaluru, Zaheer Kachwala from Bengaluru)
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Globe and Mail reports that Alberta will support a new oil pipeline proposal.
The Globe and Mail reported Wednesday that the Alberta government was preparing to submit a request for a new pipeline from the British Columbia coast to Enbridge, South Bow and Trans Mountain. Three sources with knowledge of the matter were cited. Report said that the plan was to draft a proposal along with an estimate and submit it to the new Major Projects Office of the federal government. However, a final route had not been determined. The report cited a source familiar with the plans as saying that Enbridge, South Bow, and Trans Mountain would work with the Alberta Machine Intelligence Institute and the government to create models of potential routes. The report stated that Alberta is only taking a small risk by filing the application. This is far less than what it spent on the Keystone XL project, which was abandoned in 2021. It also noted that the goal of the province's pipeline plan and route is to not own the pipeline, but rather to develop it before it can be handed over to private capital. The office of Premier Danielle Smith, Enbridge and South Bow, as well as Trans Mountain, did not respond immediately to a comment request. Could not verify the report immediately. Mark Carney, the Prime Minister of Canada, told the Calgary Herald in July that a new oil pipeline along the coast of British Columbia is likely to make the list of projects considered to be of national significance by the Canadian government.
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Black Bayou receives regulatory approval for underground storage of gas in Louisiana
Developer of the Black Bayou Energy Hub announced on Wednesday that the developer has been given approval to build the facilities in Cameron and Calcasieu parishes. Black Bayou Gas Storage announced that the Federal Energy Regulatory Commission had approved the project in August, after a review concluded that there would not be any significant environmental impact. The company stated that the certificate was an important step in moving towards a final decision on investment. Black Bayou Gas Storage announced that Mercuria has invested $50 million as part of its partnership in the project. The project will provide a total of 34.7 billion cubic foot (bcf), from four caverns, to existing and future LNG plants. These LNG plants are expected to export more than 30 bcf per day. Black Bayou stated that the initial operations of the first two caves will begin in 2028. The next two are scheduled to follow in 2030. Reporting by Shariq Khan in New York, and Robert Harvey in London. Editing by David Goode.
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After drone attacks, Russia's oil exports to the western port of Russia have increased by 25%
According to three sources of trading, Russia increased oil exports through its western ports in September by 25% compared to August. This was due to refinery shutdowns caused by Ukrainian drone strikes. Sources said that September exports via western ports Primorsk Ust-Luga, and Novorossiisk increased to 2.5 million barrels a day (bpd). Ukraine has intensified its drone attacks against refineries and pipelines for export, leading to fuel shortages in Russia. The authorities have responded by implementing plans to limit the exports of diesel and gasoline. Industry sources reported in September that Transneft, the Russian pipeline monopoly, warned oil producers to expect a reduction in production due to attacks. At least for now, Russia can stick to its crude production plans due to higher exports. Estimates showed that the daily loadings of Urals and KEBCO grades, as well as Siberian Light, at Primorsk and Novorossiisk increased by 500,000 barrels a day (bpd) in September, up 25% compared to August. The traders reported that oil loadings had been increased by 600,000 barrels per day compared to initial plans. One trader, citing preliminary data on refinery outages, said that September's levels of refinery outages exceeded August's record-high levels and were approximately 1.5 times higher than in the same month last. Exports increased despite drone strikes on Transneft's pipeline system and the major export ports Primorsk, Novorossiisk and Novorossiisk in August and Septembre, which temporarily suspended loading.
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US holds $18 billion in funding for New York's Hudson Tunnel and Second Ave Subway
White House Budget Chief said Wednesday that the federal government withholds $18 billion from the Hudson Tunnel Reconstruction Project and Second Avenue Subway - two of New York City’s largest construction projects. The hold was announced just hours after the partial shutdown of the government began. It is the latest attempt to put pressure on Democrats in Congress regarding the shutdown. Chuck Schumer, the Senate Democratic Leader from New York State has been an avid supporter of both projects. He is also leading Democratic opposition against President Donald Trump’s plan to continue funding by government. Russ Vought, director of the White House Office of Management and Budget, said on X that approximately $18 billion of New York City infrastructure has been put on hold in order to prevent funding from flowing based upon unconstitutional DEI Principles. The U.S Transportation Department announced that it would delay the reimbursement of $300 million for the subway project until an administrative review was completed. It added that the process will take longer because the staff who conduct the review were furloughed during the shutdown. USDOT, in its statement, blamed Schumer as well as House Democratic Leader Hakeem Jeffreys of New York on the shutdown. The $17.2 billion Hudson River Tunnel Project -- which has received over $11 billion in grants from the federal government -- will repair an existing tunnel and build a new tunnel for Amtrak passenger trains and state commuter routes between New Jersey to Manhattan. If the Hudson Tunnel fails, it would impede commuters in the metropolis that accounts for 10% of the nation's economic output. The Biden administration has awarded $3.4 billion to the Second Avenue Subway Project, which will extend the line and provide better transit service in Harlem. USDOT has sent New York letters about the status of the review to determine if it is engaging in discriminatory practices. Amtrak and New York Governor Kathy Hochul did not comment immediately. Trump, an ex-New York City developer, refused. Approve funding for projects in his first USDOT has also threatened New York Transit funding repeatedly. In August, the Department said that it could withhold 25 percent of federal funding from the Metropolitan Transportation Authority in New York State if they do not improve the safety for workers who maintain subway tracks. The Trump administration also wants to destroy Manhattan's Early this year, the congestion pricing program was introduced to reduce traffic and raise billions of dollars for mass transit. The Trump administration also threatened to cut off funding for the MTA over crimes committed in subways. Reporting by Doina Chiacu, David Shepardson and Chris Sanders; editing by Chizu Nomiyama, Chris Sanders and Chizu Nomiyama
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Internet and mobile phones resumed in Afghanistan?
Local residents reported that cell phone and internet service was restored in Afghanistan Wednesday, 48 hours after sources from the diplomatic and industrial sectors claimed connectivity had been abruptly cut off on the Taliban administration's orders. Residents in Kabul, and other cities, reported that the cell phone service of Roshan and Etisalat, the largest foreign-owned providers, was restored in the late afternoon. According to the companies that provide internet access, it has been restored. An official of the Taliban's information department stated that the outage was due to technical issues and services would be restored quickly. He did not respond immediately to a question about whether the Taliban ordered the outage. The United Nations has called for the reinstatement of connectivity. The Taliban has expressed concern in the past about online pornography. In recent weeks, authorities have cut fiber-optic connections to certain provinces, citing morality. The connectivity outage, which began on Monday, is the latest in a series this year of strictures by the Taliban's conservative leaders, based in Kandahar in the south, who have been battling against more liberal ministers from Kabul. Outages caused chaos with remittances and trade paralysed. Banks also had their operations paralyzed. Many Afghans were stranded as they could not fly. The Taliban also banned online learning for teenage girls and women. This was their only way to get an education after being barred from universities and high schools. (Reporting and writing by Saeed Sha; Additional reporting by Hritam Mukherjee, Mushtaq Ali and Hritam Mukherjee; Editing and proofreading by Elaine Hardcastle & Alison Williams).
'NextGen' US air traffic reform effort faces delays, rising costs
According to a recent report, the Federal Aviation Administration’s $15 billion overhaul of air traffic control project has been plagued by delays and cost overruns. It is also less ambitious than it was imagined more than 20 year ago.
By the year 2024, only 16% of all the benefits expected from the NextGen initiative that began in 2003 have been realized by the FAA. The Transportation Department Office of Inspector General released a report Wednesday that stated, "FAA delivered a delayed and over-budget NextGen, with less transformational benefits than originally planned."
The implementation of many key programs and technologies has been delayed until 2030 or later, while upgrades have been added to fewer sites than expected.
The FAA has not yet commented.
The Terminal Flight Data Manager, a $1 billion automation program that introduces electronic flight strips in order to replace outdated paper ones, and to more efficiently move aircrafts, is behind schedule. It will not be implemented at a number of airports before 2030.
FAA has also cut the number of airports deployed by 45%, and reduced the planned capabilities for the program. Costs have also increased by over 20%.
In July, the Congress approved $12.5 billion for the overhaul of the U.S. Air Traffic Control System. U.S. Transport Secretary Sean Duffy called on Congress on Wednesday to allocate another $19 billion.
Air traffic control issues have plagued the FAA for years. But public concern has increased this year following a series high-profile mishaps, near misses and the catastrophic January incident in which 67 people were killed when an American Airlines regional jet and a U.S. Army chopper collided.
The FAA has about 3,500 fewer air traffic controllers than the targeted number. The FAA's persistent staffing shortage has caused delays in flights, even though many employees work six-day weekends and mandatory overtime.
According to a report released by the government in June, overtime costs for air traffic control have increased more than 300 percent since 2013. Last year, air traffic controllers logged 2.2 millions hours of overtime at a cost of $200 million. (Reporting and editing by Sergio Non; David Shepardson)
(source: Reuters)