GE has published a whitepaper on how accelerating deployment of renewables and gas power can help Japan combat climate change. Larger shares for wind and solar energy, the restart of nuclear power, and hydrogen/ammonia are in the forefront of the government’s 6th Strategic Energy Plan as it seeks to establish a carbon neutral society by 2050.
Though prices at Henry Hub, the British NBP and the Dutch TTF are breaking new records seemingly every week, global LNG demand keeps rising. According to analysts that’s because "natural gas has by now exhausted potential price-driven switching into coal." So, next levers are being sought in the US – from reducing pipeline gas exports to Mexico to more expensive oil-fired generation.
JERA, Japan’s largest LNG importer and power producer, has started to use small volumes of ammonia to fuel Unit-5 of its Hekinan thermal power station. Together with IHI Group, JERA is seeking to demonstrate the large-scale utilization of ammonia in thermal combustion where the green fuel is meant to ultimately make up a fifth of the heating value.
Electricity production costs could be halved by 2050, if countries adopt green energy systems faster than planned. Speeding up the rollout of wind farms and solar PV, combined with energy storage and gas-fired balancing plants can provide cheaper electricity compared to current fossil fuel-based energy systems, Wärtsilä’s ‘Front-Loading Net Zero’ report finds.
US oil firm are earning a growing share of their revenues from natural gas. During the first half of 2021, production outages after the February cold freeze in Texas and sharp rises in energy demand after the pandemic made Henry Hub gas prices briefly triple in price, which in turn boosted profits for upstream companies.
Dominion Energy has agreed to sell its Questar Pipelines business on the Wyoming-Utah border to Southwest Gas Holdings for $1.975 billion in an all-cash transaction. The deal includes the assumption of $430 million of existing debt. The sale is expected to close in the fourth quarter of 2021.
Stena Power has completed model testing of the LNG receiving technology ordered for Delta Offshore Energy’s integrated LNG-to-power venture in Vietnam. Delta is using Stena’s jetty-less system to regasify and transfer liquefied natural gas to fuel a 2,300 MW power project, under development at Bac Lieu Province in Vietnam’s southern Mekong Delta.
Gridcognition, an Australian technology start-up, has partnered with UK-based smart energy solutions provider SNRG to accelerate the electrification of UK homes. They will use Gridcognition’s simulation platform to design and optimise microgrids for fully electric residential housing developments. Projects will break ground as early as 2022.
US and European markets face a further “bull run” in natural gas prices. According to Energy Aspects, markets have “nearly maximized their gas-to-coal switching potential,” and considering low storage inventories and a shortfall of US LNG deliveries from Freeport terminal, prices at US Henry Hub and the Dutch TTF could surge substantially with the onset of the winter season.
Copelouzos Group, one of Greece’s largest infrastructure investors, has signed contracts with Damco Energy and GE to realise a 840 MW gas combined-cycle power project. The CCGT will be build at the Port of Alexandroupolis where Copelouzos is also planning an offshore LNG import terminal. Completion is scheduled for spring 2024.
Global Reporting Initiative (GRI) has launched first sector standard for oil & gas companies, raising the bar particularly for greenhouse gas (GHG) emissions. Indirect Scope-3 GHG emissions from end-use of products will need to be included in addition to Scope-1 and 2 emissions.
Exelon has presented its new leadership team as the company’s energy business is being carved out from the first quarter of 2022. Christopher Crane, Exelon CEO, will continue to lead the firm’s regulated utility business. Joseph Dominguez, currently CEO of ComEd, was appointed incoming CEO of the competitive energy business that will trade under the new name Constellation.
California’s Department of Water Resources (DWR), the government body that manages parts of the state’s energy supply, has ordered four of GE’s TM2500 aero-derivative gas turbines. GE delivered, installed, and commissioned the units in 42 days. They generate up to 120 MW peaking power at Roseville and Yuba City power stations, north of Sacramento.
JERA has opened a new office in Dubai with a view to enhancing business relations in the Middle East, where JERA MEA will participate in six power generation and infrastructure projects. Under its ‘JERA Zero CO2 Emissions 2050’ objective, the Japanese utility is investing in thermal power plants that do not emit CO2 during the combustion process.