Anglo-Russian oil and gas producer TNK-BP is close to strike a $6 billion gas supply contract over 18 years with Russian power generator TGK-5, dealing yet another blow to Gazprom.
Coal, in contrast to gas generation, has limited prospects to expand its global marked share amid a decline in coal quality and tightening environmental legislation, according to asset management group Axa Investment Managers.
German's largest utility Eon has confirmed it will shut-down 1,037 MW of gas-fired power generation capacity, mothballing both it the 622 MW Staudinger 4 plant unit and the 415 MW Irsching 3 unit by the end of this year. The plants will operate as winter reserve, once E.on has transferred responsibility to the regulator BNA.
Norwegian oil and gas major Statoil has selected Siemens' PostCap process for phase-3 in the technology qualification program for the carbon capture and storage (CCS) plant at the combined-heat and power plant at the refinery in Mongstad. The final phase of the qualification process will come to an end in April 2013.
Deployment of carbon capture storage (CCS) technology will allow for more coal and gas to be used than without CCS, Sean McCoy, analyst at the International Energy Agency (IEA) told Gas to Power Journal.
"More than two thirds of today's fossil fuel reserves would have to remain un-burnt and in the ground in the absence of CCS," he said referring to the IEA's World Energy Outlook 2012.
The City watchdog, the Financial Services Authority (FSA) is investigating claims by a whistleblower that price assessments of Britain's £300bn wholesale gas market have been "regularly manipulated" by some big power companies.
Germany's federal energy network regulator (BNA) should urgently improve compensation for operators of flexible power plants that have to ramp up or down to maintain grid stability, the German energy industry association BDEW told Gas to Power Journal.
While Iraq's energy sector competes with a host of other spending needs in Iraq, one urgent priority for the government is to catch up and add new power generation capacity to keep pace with rising electricity demand, say analysts from the International Energy Agency (IEA).
UAE-based Dolphin Energy has awarded a $250 million contract to Larsen & Toubro (L&T) to install three new Rolls Royce Trent gas turbine compressors to upgrade the gas processing plant at Ras Laffan by end-2014.
Japanese utilities are gearing up to add about 18 GW of gas-fired capacity over the coming ten years, boosting the country's capacity by 30 percent to counterbalance for lost nuclear capacity and cater for rising electricity demand, analyst forecast.
Natural gas is the only fossil fuel for which global demand grows in all scenarios, showing that it "fares well under different national policy condition", the International Energy Agency (IEA) said in its 2012 Outlook, released today.
EDF Energy has pushed back the date to start commercial operations of unit 3 at its new British 1,300 megawatt West Burton gas-fired combined-cycle power plant to early 2013, dismissing plans to fully commission the entire plant before the end of this year.
FirstEnergy Corp. and American Municipal Power Inc. (AMP) have signed a non-binding Memorandum of Understanding (MoU) to site, build and operate a natural gas peaking plant at a brownfield site on the grounds of FirstEnergy's operational Eastlake plant in Ohio.
Panda Power Funds has started construction works for the 758-megawatt (MW) gas-fired combined-cycle power plant in Sherman, Texas. Financing of the Sherman project was underpinned by a term loan.
Siemens, Europe's largest engineering company, plans to slash costs by 6 billion euros ($7.7 billion) in two years to counterbalance estimates of lower profits in the coming year. "We didn't fully succeed in significantly boosting our performance vis-a-vis competitors," chief executive Peter Loescher said today. "We know what we have to do, and we are doing it."