UK's grid operator National Grid posted an adjusted operating profit of ££1.851 billion, up £15m, or 1% year on year. The period on period movement in exchange rates had a £43 million positive impact on operating profit, the company said in a statement, adding that on a constant currency basis, operating profit was down £28 m, or 1% year on year.
One of the key factors that will determine the amount of gas used in power generation over future years is the cost and effectiveness of energy storage. The cheaper the storage, the more intermittent renewables will be able to be introduced to grids, and the less gas that will be required; especially in higher latitudes where solar is not available part of the year.
Italy's Eni posted an adjusted net loss of Eur484 million in Q3 16, against an adjusted net loss of Eur127 million in Q3 15, on the back of an ongoing low energy prices environment and production shutdown at its Val D'Agri field.
In the first nine months of 2016, it recorded a net loss of Eur799 million.
Gas demand in South America is expected to grow by some 50 billion cubic meters to 2030, reaching 191 Bcm on the back of increased energy demand and renewable production, which will call for flexible thermoelectric back up generation to balance the system.
However, the potential for the region to significantly develop its LNG market remain uncertain, and very much linked to weather scenarios in the region.
It's what emerges from a report on “South America gas markets and the role of LNG” by Anouk Honore, published by the Oxford Institute for Energy Studies.
Denmark and Germany are to hold the first joint auction for ground-mounted photovoltaic installations. Under the framework, “for the first time, photovoltaic installations in Denmark can participate in a German auction alongside photovoltaic installations from Germany” Germany's Federal Network Agency (BNetzA) said.