China’s Blue Sky Policy envisages boosting the share of natural gas in the energy mix from currently 7.5 percent to 15 percent by 2030 which requires substantial investment in LNG and pipeline import capacity and related infrastructure. Imports are forecast to meet more than 70 percent of gas consumption in Greater China in 2040.
Germany’s second largest utility RWE could receive up to two billion Euros in compensation for closing its lignite power station under a coal exit agreement currently drawn up by the economy ministry. The Czech energy holding EPH, however, is asking for significantly more compensation for its power assets in eastern Germany than the government is willing to pay.
Gassco, the Norwegian natural gas pipeline operator, has transported 106.99 billion cubic metres of gas from Norway to northern Europe and the UK in 2019 – just above the volume of Australian LNG exports in the same year.
The hydrogen fuel sector managed to break the 1 GW global shipment barrier in 2019 when a total of 1.1 GW were transported, mostly to Asian markets. Fuel cell vehicles and energy storage remain the largest demand driver, according to E4tech research, with Japan’s Toyota and South Korea’s Hyundai accounting for two thirds of total shipped capacity.
Spot gas prices at the U.S. benchmark Henry Hub in Louisiana have fallen to their lowest level in the past year since 2016 as domestic production keeps growing. “Lower natural gas prices in 2019 supported higher consumption – particularly in the electric generation sector – and higher natural gas exports,” EIA analysts commented.
Adani Power and NTPC, two of India’s largest power producers, have pleaded to the government in Delhi to extend the deadlines of retrofitting coal power stations by two to three years. High costs for retrofits and India’s continued reliance on cheap thermal coal now needs to be weighed up against rampant air pollution.
French oil and gas major Total has signed an agreement with Gigajoules Group of South Africa to import and deliver regasified LNG for a projected large-scale gas power station at the outskirts of the Mozambican capital Beluluane. Importing LNG is vital given that there is not enough domestic gas supply to fuel the 2,000 MW power project.
Gazprom has just launched TurkStream, a two-string gas pipeline through the Black Sea to Turkey with a combined throughput capacity of 31.5 billion cubic meters (Bcm). The first string will deliver Russian gas to Turkey, while the second string is intended for gas transit to southeastern Europe.
The energy portion of the S&P Goldman Sachs Commodity Index (GSCI) has risen faster than other commodities over the course of 2019 with prices of WTI and Brent crude oil up 31 percent and 20 percent, respectively. In contrast, natural gas futures sold on NYMEX fell 26 percent to end the year at $2.19/MMBtu — the largest decline of all commodities in the index.
Traded volumes of natural gas in European brokered markets have soared nearly 22% to reach 30,496 TWh in the period from January-November, according to the London Energy Brokers’ Association (Leba). Volumes on the Dutch TTF – Europe’s most liquid hub – increased over 21%, while UK NBP trading fell nearly 27%.
Germany’s largest utility Uniper strives to fast-track permitting and construction of a floating storage and regas unit (FSRU) in Brunsbüttel to importLNG from Australia, among others.To that end, Uniper agreed with Woodside Energy Trading Singapore to import 0.5 mtpa initially from 2023, which will be increased to 1 mtpa by 2025.
Germany's expansion of renewable energy sources will be unable to keep up with future demand growth, leading the country to miss its renewable targets in its 2030 power generation mix, say researchers from the Institute of Energy Economics at the University of Cologne (EWI).
MAN Energy Solutions is conducting a test phase with over 20 field applications for its newly developed assisted-reality application, PrimeServ EyeTech. Tests are conducted in cooperation with a pilot customer for turbomachinery maintenance and repair.
Keen to maximize China’s domestic oil and gas production and streamline imports, the government in Beijing’s is taking steps to bundle all onshore trunk pipelines owned by PetroChina, Sinopec Group and CNOOC into one single transmission system operator (TSO). Wood Mackenzie reckons China’s new state TSO could be worth up to $105 billion and is likely to lead to higher end-user energy prices.
Grid balancing becomes paramount as the share of intermittent supply from renewable power sources keeps rising fast in most developed countries around the globe. Smart grids are hence expected to manage two-thirds of global net electricity supply by 2050, and by that time an estimated $548 billion will be invested in batteries for energy storage.