Malaysia’s Petronas and Commonwealth LNG Discuss Term Supply

Today’s ESG Updates:

• Malaysia’s Petronas and Commonwealth LNG Discuss Term Supply: The state-owned oil and gas firms could strike a deal to buy natural gas from the Commonwealth LNG’s facility in Louisiana
• Climate Disasters Could Cost Up to $145B in 2025: Swiss Re, the reinsurance company releases report on insured losses in 2025
• Amazon-backed Glacier Raises $16M for AI Recycling Robots: The recycling focused robotics company announced that these funds will accelerate deployment of recycling robots
• CO2 Capture Tech Designed to Decarbonise Mobile Diesel Freight Trains: Remora, Michigan based carbon capture startup tests innovative carbon capture technology

Malaysia’s Petronas and Commonwealth LNG Discuss Term Supply

Petronas, the Malaysian state owned oil and gas firm, is engaging in talks with Commonwealth LNG to purchase at least one million metric tons per annum of LNG (liquefied natural gas) from the US’s company facility in Cameron, Louisiana. Following the US tariff crisis, several Asian countries are keen to increase their purchases of U.S. LNG in order to reduce trade imbalances. Petronas has also previously mentioned that it would like to grow its LNG portfolio to meet increasing demand as well as that its supply from U.S. contracts could be sold in the spot market to Europe or Asia. Commonwealth LNG has also recently been granted its export license following a two year wait under the Biden administration. Since, they have reported piqued interest from international prospective buyers. 

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Further reading: Exclusive: Malaysia’s Petronas and Commonwealth LNG in talks for term supply, say sources

Climate Disasters Could Cost Up to $145B in 2025

According to a recent report released by reinsurance company, Swiss Re, hurricanes, storms, floods and other natural disasters may incur $145B in insured losses in 2025, a 6% increase from 2024. In 2024, losses recorded amounted to $137B which was also well above long term averages. The Los Angeles wildfires at the beginning of the year were pointed out as one of the largest contributors to the projected figure, with estimated insured losses of $40B. The report also noted total losses from natural catastrophes including those not covered by insurance which amounted to $318B in 2024. That is also an increase compared to $292B in 2023 and similarly above longer term averages. 

Photo Credit: Dibakar Roy

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Further reading: Costs for climate disasters to reach $145 bln in 2025, says Swiss Re

Amazon-backed Glacier Raises $16M for AI Recycling Robots

AI and robotics company Glacier recently announced that it has raised $16M in a Series A funding round which will be used to accelerate the deployment of AI powered recycling robots. The company based in San Francisco aims to improve sorting and recycling rates as well as tackle issues that prevent recyclable materials from being recycled. The AI powered technology automates the sorting of recyclables and replaces recycling equipment with a robot that occupies the same footprint as a person minus the heavy machinery. In 2024, the firm raised $7.7M in a funding round led by Amazon’s Climate Pledge Fund and New Enterprise Associate which will now be used to further this technology and expand its deployment. 

Photo Credit: Jon Moore

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Further Reading: Amazon-backed Glacier Raises $16 Million to Deploy AI-Powered Recycling Robots

CO2 Capture Tech Designed to Decarbonise Mobile Diesel Freight Trains

Remora, a carbon capture startup has developed carbon capture technology that extracts CO2 from the exhaust of diesel freight trains and trucks. The carbon is captured while the train is moving, cooled and then compressed into a liquid state. The system is expected to capture around one tonne of CO2 per hour, with clients expected from the agriculture, food, and beverage industries. The business and technology has certainly evolved since its first pilot which faced several issues such as waterlogging and pressure on truck engines. Remora is now moving forward with plans to test their technology on moving trains in 2026. 

Photo Credit: Lukáš Lehotský

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Further reading: Mobile CO₂ Capture Tech to Decarbonise Diesel Freight Trains

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Carol Highsmith’s America