Poweo, an independent French power and gas company, today posted a net loss of €63.4 million in 2011, incurred primarily by losses in its power generation business. Revenue from power generation revenue dropped from €185 million in 2010 to €124 million last year due to unfavourable profit margins at its CCGT power plant at Pont-sur-Sambre (412 MW).
Natural gas consumption in India and China has witnessed annual growth rates of 14% and 18%, respectively, over the last five years. Inaugurating the 7th Asia Gas Partnership Summit, in New Delhi today, India's Prime Minister, Dr. Manmohan Singh highlighted the role of gas as "an efficient fuel for power generation".
Operators of gas-fired plants should be allowed to resell natural gas hubs back to virtual trading hubs as a way of offering demand-side responses on balancing platforms, Eurelectric said in a gas strategy paper today.
Mitsubishi Heavy Industries (MHI) has received orders for ten M501J gas turbines for installation at four power plants in South Korea. The order from South Korea marks the first for the J-Series gas turbine from overseas, MHI said today.
Electricity prices in Turkey have surged as markets are concerned about a looming reduction in Russian gas supply as well as bottlenecks in the country's gas transmission infrastructure, energy traders told ‘Gas-to-Power Journal’.
Tata Power has emerged as India's largest private sector power generating company as the start-up of the second unit (525 MW) of its Maithon Mega Power Project in Dhanbad lifts the company's overall power generation to 5,297 MW.
E.ON, the world’s largest utility by sales, is not planning to mothball any of its gas-fired power plants in Germany, despite the negative impact of oil-indexed gas purchase on the economics of operating power plants, a spokesman said today.
International Power proposes to close the 210 MW Shotton Combined Heat & Power (CHP) plant by the end of 2012. The 210 MW plant is no longer competitive in the U.K. wholesale electricity market, the operator said today.
Austria’s Verbund is going ahead with works to start-up the proposed 412 MW Toul gas-to-power plant as planned in 2013, despite loss-making operations at the Poweo’s Pont-sur-Sambre combined cycle gas turbine plant (CCGT). “The Toul CCGT does not have a gas contract with Eni,” Verbund spokeswoman Ines Schurin told ‘Gas-to-Power Journal’, implying operations of the Toul plant are expected to be profitable.
Mitsubishi Heavy Industries (MHI) announced today it has won an order from Virginia Electric and Power Company (VEPCO) to supply three M501GAC gas turbines and one steam turbine for VEPCO's Brunswick County Power Station, located some 60 miles south of Richmond, Virginia, U.S.
Electricity generated from gas still has an important role to play over the coming decades as the U.K. transitions to a low carbon economy, Energy and Climate Secretary, Edward Davey, said. "We can't take our foot off the gas for some time yet," he said with reference to the closure of a fifth of the UK's ageing fleet of power stations this decade.
Karachi Electric Supply Company (KESC), the sole vertically integrated utility in Pakistan, has failed to restart operations at its Bin Qasim Power Plant II due to a lack in gas supply for the plant. Operational start of the plant depends on Sui Southern Gas Company (SSGC) supplying an additional 130 million cubic feet per day (Mmcf/day) to the plant.
French investment bank BNP Paribas sees "little hope" that the U.S. gas industry will sell more gas to electric utilities during the upcoming peak summer month based on increased cooling requirements.
Demand for natural gas in the EU will reach pre-crisis levels only by 2018, the French investment bank Société Générale said in a recent report.