Canadian oil and gas producer Encana has a made its boldest move yet, buying all shares of Newfield Exploration for US$5.5 billion and assuming US$2.2. billion of Newfield’s net debt. The takeover gives Encana premium positions in three of North America’s highest-quality, oil and liquids-weighted shale plays – the Permian, STACK/SCOOP and the Montney.
India has just completing the electrification of all its villages, and worldwide over 120 million people gained access to electricity. This means that for the first time ever, the total number of people without access fell below 1 billion according to new data from the International Energy Agency’s (IEA) World Energy Outlook 2018.
Silent-Power Project, a Swiss technology start-up, is producing of CO2-neutral electricity from methanol. CEO Urs Weidmann told Gas to Power Journal the company aims to achieve an annual production of 1 million liters of carbon neutral methanol with its first synthesis plant by 2020.
A rebound in global oil and gas prices has helped Royal Dutch Shell’s quarterly profit to reach $5.6 billion, the highest level in four years – but still short of analysts’ expectations. "Good operational delivery produced one of our strongest-ever quarters with cash flow from operations of $14.7 billion," CEO Ben van Beurden commented.
Indian LNG buyers have been courting the incumbent seller Qatar to invest in stranded gas-fired power station as a precondition for new long-term offtake agreements. If Qatargas or Qatar Petroleum agrees to supply fuel to some stranded power plants, they are offered a profit share.
Siemens has committed to invest up to 600 million Euros at its industrial estate in Berlin Spandau, a future R&D hub. A new world of working and living will be built on an area of 70 hectares to strengthen selected key technologies and innovations. Research will focus on distributed energy, electric vehicles, digitalization, and 3D printing.
Switching from coal to cleaner-burning gas for power generation has led to a 28% decline in carbon dioxide emissions in the U.S. power sector. Slower growth of electricity demand also contributed to the decline, with the U.S. Energy Information Administration (EIA) calculating that power generation-related CO2 emission fell to a near 30-year low at 1,744 million metric tons (MMmt).
Disruptions in gas supply and greater gas and electricity price volatility will have a critical negative impact on UK business in the next 10 years, a survey of the British Gas Security Group (GSG) finds. With 80% of Britain’s gas needs set to be imported in 2030, and in the face of the closure of Rough storage, the industry is vary about being overexposed to the volatility of international gas markets.
Hydrogen, as an energy carrier and feedstock, has gained momentum amid falling cost of wind and solar power. Once mass-produced at very low cost in places like Argentina, Australia, Chile, the Middle East or South Africa, green hydrogen could become a game-changer, the same way LNG linked previously disconnected regional gas markets.
State regulators have narrowly approved Minnesota Power’s strategic move to take a stake in a $700 million gas-fired power project, rebuking concerns from ratepayers and a state law judge. The 525-MW combined-cycle plant will now be built in the town of in Superior, Wisconsin, by Minnesota Power and Dairyland Power Coop. Start-up is slated for 2025.
Cash-strapped General Electric has curtailed its quarterly dividend and announced plans to split its Power business into two units. First, the unified Gas business will combining GE’s gas product and services groups, and a second unit will other assets including Steam, Grid Solutions, Nuclear, and Power Conversion.
Weakened by losses in state elections in Hesse and Bavaria, the German Chancellor Angela Merkel has decided to give way for a new leader of her conservative CDU party. Merkel’s decision could help the ruling coalition regain focus and make important decisions on energy, climate and other key areas. Uncertainty abounds about the timeline for Germany's coal exit.
Predix ServiceMax, just launched by GE Digital, is an Asset Service Management (ASM) system designed to increase equipment uptime and improve maintenance outcomes for industry and power plant operators. Combined with performance management, the new offering helps customers transform their maintenance process from a break-fix model to a predictive service model.
Seeking to balance a steady decline in domestic gas production, European buyers have been increasing their LNG imports for the third consecutive year to cater for growing demand from the power sector. Low hydroelectric output in Spain, Italy, and Portugal as well as unplanned nuclear plant shutdowns in France in 2017 led to greater gas use for power generation, and higher LNG import.
French utility ENGIE has deployed a 150 kW/90 kWh energy storage system in Rotterdam that is made up entirely by second-hand batteries from Renault electric vehicles. The E-STOR system, developed by Connected Energy, is supporting the Tennet electricity distribution grid.