German utility Uniper is working with Wärtsilä on a gas-drive power plant for swb Bremen. The flexible unit, build adjacent to a coal-fired plant in Hastedt, will run on nine 31SG gas-drives and generate 105 MW of electricity as well as 93 MW thermal output for district heating.
RWE Supply & Trading’s first quarter results have taken a battering from the turmoil on commodity markets caused by the corona crisis. Adjusted first quarter EBITDA plunges to €170 million – a steep drop from “exceptionally good” Q1 earnings of €271 million in the year prior.
German research minister Anja Karliczek has called on the government not to “waste any more time debating” and come to a prompt decision on a national hydrogen strategy. The latest draft focuses on green hydrogen from renewable energy, as well as blue hydrogen, produced via carbon capture storage (CCS).
Energy research, development and demonstration (RD&D) budgets have increased by 4% worldwide to reach $20.9 billion. Low-carbon research accounts for 94% of the overall budgets in the International Energy Agency’s (IEA) member countries, though the Covid-19 pandemic caused a noticeable shift in focus to business streamlining and cost-cutting.
Forward prices at the Dutch TTF gas trading hub could fall further over the summer as Europe runs out of storage capacity. Through most EU countries lifted coronavirus lockdowns, demand stays weak and Energy Aspects sees TTF prices remain too low to attract US LNG cargoes until April 2021.
U.S. Energy Information Administration (EIA) expects a rebound in Henry Hub spot gas prices due to falling production in the Appalachian and Permian Shale, where low oil prices led to shut-ins of wells. Dry gas production is seen average 84.9 Bcf/d in 2021, pushing up Henry Hub prices to $2.89/MMbtu.
Electricity demand across major European markets will fall nearly 8.1% this year as lockdown easing have no great impact yet, so Wood Mackenzie sees full recovery taking several years. Growth in renewables and a bearish outlook for fuel prices will keep a power prices low well beyond 2020.
Zhonghua Gas’ first quarter results have been “seriously impacted” by the Covid-19 outbreak. Total revenue for the three month ending March plunged 29.5% to HK$75.10 million, while net profit after tax fell 72.5%. Going forward, the Hong Kong-listed group strives to expand LNG sales in greater Shanghai.
Russia’s state gas company Gazprom seeks to boost gas production in Yakutia and enhance pressure as well as throughput at the ‘Power of Siberia’ pipeline. There is “plenty of supply,” Gazprom noted, to ramp up exports to China gradually to 38 Bcm/y, as planned, by 2025.
Stadtwerke Leipzig has contracted MAN Energy Solutions to deliver and install two steam turbines and a generator at the local combined heat and power plant (CHP) in the first quarter of 2021. The upgraded CHP will partially replace the supply of district heating from an ageing coal-fired plant by the end of 2022.
Construction companies in the Middle East are withstanding the negative economic impact of the coronavirus pandemic, with ACWA Power as well as Saudi’s Advanced Petrochemical and SK Gas winning multi-billion EPC contracts. Oman National Engineering and Investment Company (ONEIC), meanwhile, was contracted to build substations.
Low U.S. gas demand due to the pandemic and unseasonably mild weather has prompted a sharp rise in storage injection, in particular in the South Central region. EIA figures show net injection into storage increased 109 Bcf last week, some 35 Bcm more than typical levels.