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Natural gas might have a new future: powering data centres.
What’s happening:
- Oil and gas giant Energy Transfer (NYSE: ET) has announced a new deal to supply American data centre operator CloudBurst with natural gas to one of their data centres located in San Marcos, Texas
By the numbers:
- Energy Transfer will directly supply CloudBurst with 450,000 MMBtu per day of natural gas
- The deal between Energy Transfer and CloudBurst will take place over 10 years
- Energy Transfer currently owns and operates more than 11,000 miles of pipelines for oil and gas within Texas alone
Why it matters:
- This is the first deal Energy Transfer has ever done to supply natural gas directly to a data centre to power high performance computing
Going deeper:
- Natural gas for data centres has been an emerging trend, with Blackstone Energy Partners just recently striking a billion dollar acquisition to take full control of a Virginia based natural gas power plant
