China National Petroleum (CNPC) has committed to help raise funding funds for $2.8 billion Ajaokuta-Kaduna-Kano (AKK) pipeline project designated to transport up to 3,500 million standard cubic feet per day (Mmscf/d) of wet gas from several gas gathering projects in southern Nigeria to centers of demand in the country’s North.
General Electric is losing share in a “rapidly concentrated market”, the Swiss bank UBS said in a note, reducing GE’s price target to $13 a share as this year’s sharp drop in sales puts future earnings at risk. GE already made hefty cost cuts at its power unit, but sluggish demand and tough competition may require even more cuts UBS says, warning this could be “forcing GE in a vicious cycle.”
Governments in the Gulf Cooperation Council (GCC) are preparing to take action to remove fuel subsidies and other price distortions that have for long rendered electricity trade unattractive, and undermined the creation of a pan-Arab energy market. Under discussion are cost-reflective fuel pricing, open-grid access and a gradual integration of existing interconnectors.
Over two thirds of British people, polled by YouGov, would like to see a more decentralised, local model succeed the Big Six’s current monopoly. Three-quarters say they are prepared to join community energy schemes and many want their pension or banking investments to avoid fossil fuel projects.
Siemens has launched a Frequency Stabilizer SVC Plus FS that combines static-var-compensation with supercapacitors. Capable to compensate voltage and frequency fluctuations, the device can feeds reactive power into the grid in less than 50 milliseconds. At the same time, the up to 200 megawatts of electric power stored in the supercapacitors can be transferred to the grid at full load.
A wave of nuclear restarts in Japan curbs LNG demand. Kansai Electric is preparing to restart its 870-MW reactor No. 4 reactor at its Takahama station, following in the footsteps of Kyushu Electric which just brought the 890-MW Unit-2 at its Sendai reactor back online. Each returning reactor is forecast to lower gas consumption in the power sector by up to 1 million tons per year.
Hong-Kong-based Energy World Corp. (EWC) is progressing with its Philippines LNG import and power generation hub as well as a small-scale liquefaction plant at Sengkang, Indonesia. Construction on the 650 MW Pagbilao combined-cycle as power project and adjacent LNG import terminal in Quezon Province continued throughout the year, EWC noted, with observers saying the venture is 90% complete.
Siemens and the South Korean manufacturer Iljin Electric have teamed up to develop an SF6-free gas-insulated switchgear (GIS)for the 170 kilovolt (kV) level, building on a similar Siemens application for up to 145 kV. The new GIS will use treated air, known as "Clean Air", instead of sulfur hexafluoride (SF6) as the insulating medium.
China National Offshore Oil Corp. (CNOOC) has started to develop the Lingshui find, the company’s the first independent deepwater gas discovery. CNOOC freed up an initial budget of 20 billion yuan (US$2,93bn) and set a design capacity of 343 million cubic feet as it aims to turn the Lingshui find into its main source of gas production after 2020.
China's Dongfang Electric has signed a memorandum with Mitsubishi Hitachi Power Systems (MHPS), specifying plans to adopt the latest J-Series gas turbine at a combined-cycle power plant developed by Sichuan Provincial Investment Group in the province. The CCGT is meant to be the first in a series of projects as MHPS is taking steps to extend its foothold in China.
The Turkish government has decided to increase natural gas prices by 14%, while energy regulator EMRA announced a similar rise in electricity tariffs in reaction to a deepening currency crisis. The Turkish Lira lost 42% against the U.S. Dollar this year and economists are concerned about the Central Bank’s apparent inability to rein in inflation.
As the difference in fuel cost between coal and LNG narrows, South Korean electric utilities increasingly opt for cleaner-burning natural gas. In H1-2018, about 41% of the country’s electricity came from coal, 28.8% from LNG and 21.5% from nuclear, according to the Korean government’s Electric Power Statistics Information System (EPSIS).
Construction on a disputed 303-mile stretch of the Mountain Valley Pipeline is proceeding after the U.S. Federal Energy Regulatory Commission (FERC) has modified its stop-work order and permitted works to resume. Next Era Energy and ConEdison Transmission, co-developers of the 2 Bcf/d interstate pipeline, now aim to have the overall project built and in service by late 2019.
Three MHPS turbine-driven power plants have started up in the United States in short succession – the most recent being the 475-MW Kings Mountain Energy Center. Operated by NTE Carolinas, the $500 million facility is driven by MHPS G-Series gas turbines and has been running uninterrupted for nearly a week.
November 1, 2018, is the date when the Val de Saone pipeline will commence full operation, supplying an additional 250 GWh of natural gas from the North to the South of France. Start up of this key interconnector will lay the foundation for a single gas market zone in France – the basis for a standardized pricing system.