Saudi Aramco has signed eight agreements with several contractors with a combined worth of nearly $4.5 billion. The projects include new pipelines and gas processing plants, which according to Amin H. Nasser, Saudi Aramco president and CEO, will “reduce domestic reliance on liquid fuels for power generation.”
Just prior to US President Donald Trump’s departure from a state visit to China, GE Energy Financial Services signed a “cooperation deal” with the Chinese Silk Road Fund. Both parties agreed to set up an infrastructure investment platform, the Chinese government announced without disclosing details about future projects.
Sino-Russian ties have warmed considerably under Xi Jinping and there is some synergy between Moscow's 'Pivot to Asia' and Beijing's 'Belt and Road Initiative', finds Hugo Brennan, Asia analyst, Verisk Maplecroft. Hence, the trade mission of U.S. President Trump to China might not be overly successful when it comes to selling US LNG. “The economics of US supplies to China are challenging,” he warned, suggesting “Chinese LNG buyers might find cheaper deals elsewhere.”
Hydraulic fracturing, commonly known as fracking, has been proposed as a solution to Australia’s current energy crisis, with advocates calling for the removal of state bans to allow the production of unconventional oil and gas resources. Matthew Meagher, researcher at Northern Australia and Landcare Research Programme says “fracking is cheaper than current renewable technologies and refurbishing old coal-fired plants.”
China and India will continue to lead world nuclear growth as their impetus is expected to offset declines in nuclear capacity in the United States, Japan, and countries in Europe. According to the EIA’s International Energy Outlook 2017 (IEO2017), global nuclear capacity will grow at an average annual rate of 1.6% from 2016 through 2040.
Fourth quarter revenue came in below target at Siemens, Europe’s biggest industrial conglomerate, while earnings dropped 10% to €2.2 billion – largely caused by its Power & Gas (PG) division and higher costs at its Digital unit. “For years now we’ve been seeing a steady decline in orders for large turbines owing to a booming renewable segment,” CEO Joe Kaeser told investors in Munich, announcing steps to “restructure and resize the business.”
Oversupply of LNG throughout Asia is boosting spot trade – a trend that has been strengthening the case for smaller and more distributed LNG receiving terminals for combined-cycle gas generation. Such projects, according Jim Schnieders, Black & Veatch’s Country Manager Indonesia, give operators “greater flexibility to manage peak and off-peak grid demands while advances in technology also allow a scale up for baseload generation.”
Full commercial operation has commenced at the Mirfa Independent Water and Power Plant (IWPP) project, built at a cost of US$1.5 billion, the French utility ENGIE announced. The plant’s 1,600 MW of power and 52.5 million gallons per day (MIGD) of seawater desalination capacity plant covers 10% of Abu Dhabi’s peakload power demand.
Uncertainty about future battery technology, government policies, consumer preferences make it difficult to predict the long-term effects that both battery electric and plug-in hybrid vehicles (EVs) may have on worldwide energy consumption. In 2015, sales reached 1.2 million worldwide which is less than 1% of all vehicles used globally, but this level could almost double by 2040, according to EIA analysis.
The UK’s “Big Six” energy companies may soon become five, if the agreed merger between SSE and Npower will be permitted by the regulator. SSE, the UK’s second largest energy supplier, confirmed it wants to combine its British domestic business with Npower, forming a new company.
Texas LNG, the export project under development in Brownsville, has confirmed it is taking part in a two day U.S. presidential trade mission to China that started today. Led by U.S. Secretary of Commerce Wilbur Ross, the mission is intended to help promote U.S. exports to China which is why top executive from General Electric, Honeywell and Westinghouse, amongst others, are also accompanying the President.
Pemex, Mexico’s national oil company, has made the biggest onshore find of oil and associated natural gas in 15 years in the eastern state of Veracuz. The find near the Ixachi-1 well, believed to hold some 1.5 billion barrels of oil equivalent, will help reduce Mexico’s reliance on importing LNG and pipeline gas from the United States.
The world's first 1,100 kV transformer, with more than 587 MVA transmission capacity, has successfully passed its type test. It is the first of a total of seven ±1,100 kV transformers that Siemens and its Chinese partners are building for what is currently the world’s largest HVDC transmission system, spanning from the northwestern Xinjiang region to Anhui Province in eastern China.
Success of the global energy revolution – the shift from fossil to low-carbon power generation – hinges on the quality of the cable that underpins. Yet an estimated 20% of all cables in the UK are either sub-standard, counterfeit or non-approved. Pointing out the risks of such shortcomings, Jean-Sébastien Pelland, Director of Eland Cables said: “For a project, sub-standard cables can result in downtime, reliability issues and ballooning maintenance costs at best and major safety hazards at worst, as well as potential environmental damage.”
Mitsubishi Hitachi Power Systems (MHPS) has received an order for two H-25 gas turbines for an LNG-fired combined-cycle cogeneration power plant in Qingdao, in China’s eastern Shandong Province. The turbines are scheduled to begin operations in December 2018.