South Korea's ministry of Ministry of Knowledge Economy (MKE) will establish a master plan for shale gas development before the end of the year as it aims for shale gas-derived LNG imports to account for 20% of the country's LNG import capacity, a ministry official told 'Gas to Power Journal'.
Despite short term restraints in the market for gas-fired power generation, Frost & Sullivan's Energy Industry Director, Harald Thaler sees "sound medium- and long-term prospects" for the industry and forecasts global gas-fired power plant orders will total 537 GW through 2020.
Progress Energy Carolinas, a subsidiary of Duke Energy, has retired the coal-fired H.F. Lee power plant on September 15 as part of the utility's fleet modernisation programme. The gap in power supply will be filled by a new 920-MW gas-fired plant, scheduled to start commercial operations in early 2013.
The First Vice President of the European Bank for Reconstruction and Development (EBRD), Varel Freeman, has completed a visit to Jordan to consider a $100 million investment in a power plant near Amman to help increase the electricity supply in the Arab country.
Electricity is the largest sector for growth for the gas industry and the trend is likely to continue as coal-fired plants are retired, ExxonMobil's Americas gas marketing manager, Paul Greenwood, told a gas forum in Chicago this week.
Japan's ministry for economy, trade and industry (METI) will host an LNG conference in Tokyo on September 19 to evaluate the increasingly central role of gas supplies for power generation as the country considers a nuclear phase-out by 2030. METI is aiming to overhaul the current strict regionalization of Japan's main electric power utilities, which consume about 5 million tonnes per month of LNG for to fuel gas-fired power plants.
The rapid implementation of India's 'National Gas Grid for LNG', designed to accommodate rising gas supply from LNG import terminals on the western coast, will provide a fillip to gas-fired power generation. "The formation of the gas grid (12,000 km) in India is a great leap which is going to encourage the use of gas-based power generation over a wider geographical area," an analyst at India's Central Power Research Institute told Gas to Power Journal.
Mitsubishi Heavy Industries (MHI) will integrate two engine business sectors that are currently handled by its power systems and general machinery sector, effective October 1, in reaction to a global rise in demand for distributed power generation.
Siemens Energy has won an order worth over €100 million from KAR Construction and Engineering Company Ltd to supply gas turbines and generators for 640-megawatt Khormala gas turbine power plant in northern Iraq.
Alstom has developed a MXL2 upgrade for GT26 gas turbines, offering power plant operators to adapt production hours of their plants to fluctuating demand and to significantly extend inspection intervals and increase availability – key features in markets with a large share of intermittent wind generation such as Spain, says Leone Tessarini, product manager at Alstom's gas turbine services.
The autumn statement of the UK finance ministry, set for 5 December, will impact on the timing of the Government's update on the Electricity Market Reform (EMR), JP Morgan Cazenove said today. As both the EMR and the gas generation strategy paper need to be consistent with the Government's fiscal targets, the papers are „only likely to be published once the fiscal targets are known in December," says Edmund Reid, analyst at the bank.
While European power prices are will stay flat over the coming days they are likely to increase in by the end of September on colder weather conditions, the Italian bank UniCredit forecast. Gas generation remained on low levels throughout Europe, while higher profit margins and subsequently higher utilisation of power generation have supported carbon prices in recent weeks, bank research shows.
Aggreko, a leading provider of temporary power generation services, has opened its first service centre in Walvis Bay, Namibia, to meet to power demand of the country's rapidly growing mining industry. Located next to the Port of Walvis Bay, the facility is also well positioned to supply backup power generation to Namibia's shipping and fishing industries.
At current prices, "gas is too expensive a fuel for Europe", Société Générale said in a report today. The bank remains more bearish than the forward curve and recommends selling the front year NBP Summer 13 contract.
The first power plant unit has been delivered to Emirates Aluminium's (EMAL) expansion project in Al Taweelah, Abu Dhabi, U.E.A. The 1,000 MW expansion will boost the power generation capacity of the on-site plant to 3,000 MW.