Chevron Exploring Low-Carbon Power Solutions for Data Centers

By Shariq Khan and Shashwat Awasthi
NEW YORK (Reuters) – U.S. oil major Chevron Corp (NYSE:CVX) is considering ways to supply lower carbon power for data center operators, Jeff Gustavson, president of Chevron New Energies, stated during an interview at the Reuters NEXT conference in New York.

Gustavson's comments come after Exxon Mobil (NYSE:XOM) announced its efforts on Wednesday to advance low-carbon electricity by incorporating carbon capture into natural gas-fired power plants serving data centers.

> "We are working on this as well," Gustavson noted, highlighting Chevron's global expertise in supplying natural gas and operating relevant power equipment, which positions the company well to address the increasing electricity demand from data centers.

Chevron has focused on this initiative for over a year, although Gustavson refrained from disclosing additional specifics, mentioning that more detailed announcements will come at an appropriate time.

> "It fits many of our capabilities – natural gas, construction, operations, and being able to provide customers with a low-carbon pathway on power through CCUS (carbon capture, utilisation and storage), geothermal, and perhaps some other technologies," he explained.

The burgeoning demand for artificial intelligence and cloud computing is anticipated to significantly elevate electricity consumption, prompting utilities to construct new natural gas plants and postpone the retirement of fossil fuel power stations.

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