By 2019, about 600 MW of Jamaica’s generation will be powered by natural gas and renewables, exceeding the current 580 MW daily average. To help advance this goal, New Fortress Energy (NFE) has pledged to invest close to $1 billion into the country’s gas and power sector – the latest milestone being the ground breaking for a $265 million LNG-fuelled combined heat and power plant (CHP) at Jamalco’s Halse Hall headquarters in Clarendon.
Cost and performance of battery technologies will not only be shaping customer acceptance of electric vehicles in the coming years, but also determine how easy it will be to integrate renewable energy into the grid. Tracking the relation between the dramatic drop in prices for batteries and their usage, IEA analysts say “for each doubling of output, lithium ion battery prices have been getting 19% cheaper.”
Following a record supply of Russian gas to Europe last year, Gazprom touted it expects that its full-year 2017 exports will exceed the 179.3Bcm exported in the previous year by 13.3Bcm. Eager to cement its position as Europe’s largest gas supplier, Gazprom is creating new export routes such as the 32 Bcm TurkStream gas link through the Black Sea, for which works are already underway in Turkey’s economic zone.
Sri Lanka’s energy minister Ranjith Siyambalapitiya is seeking to push a proposal for an LNG-fuelled power plant project through Parliament. The 400 MW Hambantota project will be built by a joint venture between the China Machinery Engineering Corporation (CMEC), nominated by the Chinese government, and the Ceylon Electricity Board.
China Energy Investment Corp has signed a Memorandum of Understanding (Mou) to invest up to $83.7 billion over the next 20 years in shale gas development and downstream gas markets in West Virginia. “Projects will focus on power generation, chemical manufacturing, and underground storage of natural gas liquids and derivatives," the U.S. Department of Commerce stated, adding planning for the projects "is underway."
The Nigerian National Petroleum Corporation (NNPC) has formalized an agreement with Dangote Group and Black Rhino Group to build the Qua Iboe Power Plant in Akwa Ibom State at an estimated cost of $1.1 billion. The 540 MW gas-fired power plant is planned to start operating by 2021.
Qatar’s Nebras Power has signed a Heads of Agreement (HoA) with the two Indonesian companies Perusahaan Listrik Negara (PLN) and PT Pembangkitan Jawa-Bali (PJB) to jointly developing an LNG-based power project (800 MW) together with a Floating Storage and Regasification Unit (FSRU) near Medan, Indonesia. Nebras agreed to invest $1 billion in the project.
As China is following through on plans to expand its power grid and regional connectivity, the country topped the global transmission tower market with a market of $3,963 million in 2016, followed by India with $2,058 million. According to a GlobalData forecast, China’s market will exceed $4,259 million by 2021.
Investment in energy efficiency exceeds $231 billion worldwide, growing a 9% rate globally and at 24% in China. Energy efficiency codes and standards now cover about 32% of global energy use which helped to decrease energy intensity by 1.8% last year, said Dr Fatih Birol, executive director of the International Energy Agency (IEA).
Voicing plans to shut down all coal-fired power stations by 2030, the incoming Dutch government has sent a dramatic signal to energy markets that investments in coal is no longer safe. The far-reaching approach of the new coalition is striking, given that RWE, Uniper and Engie in the past few years commissioned three of Europe’s most modern coal power units in the Netherlands.