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projects","equinor-takes-stake-in-standard-lithium-smackover-direct-lithium-extraction-projects","article/equinor-takes-stake-in-standard-lithium-smackover-direct-lithium-extraction-projects",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":685,"featured":51,"reporter":686,"_editable":690,"component":691,"seo_title":543,"categories":692,"visibility":698,"author_company":49,"featured_image":699,"seo_description":685,"author_full_name":49,"author_job_title":49,"formattedDate":703,"formattedArticleDate":704},"34ecf1b4-c2c1-4016-a5e9-9631f8a3817e","2024-05-09 00:00",[550,553,556],{"slug":551,"name":552},"dle","DLE",{"slug":554,"name":555},"standard-lithium","Standard Lithium",{"slug":557,"name":558},"usa","USA",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,589,594,613,618,623,632,639,644,649,654,659,664,669,680],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576,579,587],{"text":577,"type":578},"Norwegian energy company Equinor will invest up to $160 million in two US-based ","text",{"text":580,"type":578,"marks":581},"direct lithium extraction",[582],{"type":583,"attrs":584},"link",{"href":585,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/us-lithium-race-intensifies-as-arkansas-advances-dle-prospects","url",{"text":588,"type":578}," (DLE) projects being developed by Standard Lithium.",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":578},"Equinor will take 45% stakes in both the South West Arkansas project and East Texas properties.",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597,603,605,611],{"text":598,"type":578,"marks":599},"Direct lithium extraction",[600],{"type":583,"attrs":601},{"href":602,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/opinion-is-direct-lithium-extraction-the-industrys-shale-moment",{"text":604,"type":578}," is an emerging technology for selectively extracting lithium from subsurface brine resources without the need for large evaporation ponds. ",{"text":606,"type":578,"marks":607},"Benchmark forecasts",[608],{"type":583,"attrs":609},{"href":610,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://www.benchmarkminerals.com/forecasts/lithium/reports",{"text":612,"type":578}," that DLE will represent around 16% of global lithium production in 2030.",{"type":573,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":578},"“DLE will play an increasingly important role in global lithium production,” Robert Mintak, chief executive of Standard Lithium, told Benchmark Source. “While it’s not a one-size-fits-all solution, DLE is a powerful tool when applied to the right resources.”",{"type":573,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":578},"Standard Lithium is targeting 2026 for production from its first commercial lithium extraction plant and 2027 for production from the South West Arkansas project. The latter project’s preliminary feasibility study suggests that the facility could operate at 30,000 tonnes per annum of lithium hydroxide over a 20-year operating life.",{"type":573,"attrs":624,"content":625},{"textAlign":49},[626],{"type":627,"attrs":628},"image",{"id":49,"alt":629,"src":630,"title":49,"source":49,"copyright":49,"meta_data":631},"","https://a.storyblok.com/f/287943243085208/11199740c3/bm-dle-chart.png",{},{"type":633,"attrs":634,"content":636},"heading",{"level":635,"textAlign":49},4,[637],{"text":638,"type":578},"What has been agreed?",{"type":573,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":578},"Subject to both parties making a positive final investment decision, the terms of the agreement are:",{"type":633,"attrs":645,"content":646},{"level":635,"textAlign":49},[647],{"text":648,"type":578},"Oil companies invest in DLE",{"type":573,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":578},"Both of Standard Lithium’s projects included in this deal are located in the Smackover formation, a limestone aquifer that stretches from Texas to Florida. The region has historically been developed for the extraction of bromine.",{"type":573,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":578},"As an oil and gas company, Equinor has expertise which significantly overlaps with that required for developing a DLE operation. Equinor also invested in DLE developer Lithium de France in 2021.",{"type":573,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":578},"“Oil and gas companies are experts on fluid management,” Federico Gay, principal lithium analyst at Benchmark, said. “One of the most complicated aspects, apart from lithium recovery, is the re-injection of brines, and International Oil Companies’ expertise in this topic is of paramount importance.”",{"type":573,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":578},"Energy companies also have deep pockets and Gay says this can help boost the development of DLE technologies even when funding for lithium projects from other sources may be scarce.",{"type":573,"attrs":670,"content":671},{"textAlign":49},[672,678],{"text":673,"type":578,"marks":674},"ExxonMobil, a US-based oil and gas major",[675],{"type":583,"attrs":676},{"href":677,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/exxon-aiming-for-multiple-lithium-projects-this-decade",{"text":679,"type":578},", is also developing a DLE project in the Arkansas region of the Smackover formation. It is targeting first production in 2027.",{"type":573,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":578},"Other major energy companies have also invested in DLE, including Occidental Petroleum and Schlumberger.","Norwegian energy company Equinor will invest up to $160 million in two US-based direct lithium extraction (DLE) projects being developed by Standard Lithium. Equinor will take 45% stakes in both the South West Arkansas project and East Texas properties. Direct lithium extraction is an emerging technology for selectively extracting lithium from subsurface brine resources without […]",[687],{"slug":561,"name":562,"content":688},{"job_title":564,"image":689,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"34ecf1b4-c2c1-4016-a5e9-9631f8a3817e\", \"id\": \"\"}-->","article",[693,696],{"slug":694,"name":695},"critical-minerals","Critical Minerals",{"slug":697,"name":8},"lithium","private",{"id":49,"alt":629,"name":629,"focus":629,"title":629,"source":629,"filename":700,"copyright":629,"fieldtype":701,"meta_data":702,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/e91d4052b3/bm-abc-0969-standardlithium.jpg","asset",{"alt":629,"title":629,"source":629,"copyright":629},"May 09, 2024","9th May 2024",[],[],1785165549244]