1、ab24 July 2025Global ResearchMidstream Hydrocarbon ExpressMore Gas Turbines and More Fuel Cells to Power Data CenterData Centers Secure PowerThis week we received two major power announcements from data centers.GE Vernova(covered by Amit Mehrotra)and Crusoe announced a significant deal to deliver 29

2、 units of GE Vernovas breakthrough LM2500XPRESS aeroderivative gas turbine package to Crusoe.Bloom Energy announced that it will collaborate with Oracle to deliver on-site power to Oracle AI data centers within 90 days.Blooms systems deliver clean power with virtually no air pollution and no water u

3、se,contributing to Oracles use of sustainable energy sources to power Oracle Cloud.GE Vernovas LM2500 aeroderivative gas turbine has the capability for 34 MW SC output.They are highly efficient,helping to reduce operating costs,plant emissions,and reliance on the local grid.The LM2500XPRESS is modul

4、ar version of this type of turbine.The turbine is 95%assembled in factory,arrives pre-packaged in 10 simplified modules,and can be installed by 20 people in 14 days.When it comes to growing demand for nat gas from the power sector,a big gating factor has been the lack of availability of gas turbines

5、.If the deal between GE Vernova and Crusoe can be replicated and scaled up,that would be a major positive as it would allow more data centers to use natural gas to meet their growing power demand needs.We view both the Bloom Energy and GE Vernova deals as positive for nat gas names.VG-Closer Look at

6、 CP2Located in Cameron Parish,Louisiana,CP2 is Venture Globals next LNG liquefaction and export facility expected to start producing gas in late 2027.CP2 is expected to have 28 MTPA in peak production capacity across Phase 1 and 2(20 MTPA nameplate capacity+8 MTPA of excess capacity).It is expected