The volatility of natural gas demand in Spain is set to rise as the integration of electricity and gas market intensifies, Maria Teresa Bravo, responsible of European gas infrastructure development at Enagas said today. "Natural gas is as a facilitator for Spain's rising renewable energy production, therefore gas infrastructure needs provide sufficient flexibility for gas to play that role, she said at the LNG & Gas-to-Power conference in Valencia.
Operating profit of Statkraft, Norway's largest utility, eased off slightly in the first quarter as the negative impact of lower power prices was offset by higher electricity production.
Japan's hunger for LNG imports to fuel gas-fired power plants is set to ease off gradually as a regional government approves the restart of nuclear reactors. Global LNG markets, however, are forecast to stay tight, investment bank JP Morgan forecasts.
German engineering conglomerate Siemens has started a second project on carbon capture and storage (CCS) with the Masdar Institute. The R&D projects focus on improvement and adaptation of proprietary Siemens Post-Combustion technology to CO2 capture at gas fired power stations, the Erlangen-based company said.
Russia's energy minister Anatoly Yanovsky has backed efforts of Gazprom to go downstream by buying gas-fired power generation assets in Western Europe.
Bharat Heavy Electricals Ltd (BHEL), an integrated power plant equipment manufacturer, has bagged a Rs.3800 million (US$70.43 million) contract for setting up a 160 MW Combined Cycle Power Plant (CCPP) in Rajasthan.
E.ON has not decided on whether to close three gas-fired power plants with a combined capacity of 1,420 MW in southern Germany. "We have not taken a formal decision on whether to close these or other gas-fired plants but we in the process of evaluation the profitability of each plant," an E.ON spokesman said today, dismissing contrary news reports.
Wärtsilä, supplier of flexible and efficient power plant solutions, has signed an Operations & Maintenance (O&M) agreement with South Africa's Sasol New Energy Holdings. The three-year agreement covers Sasol's gas engine power plant project in Sasolburg, South Africa.
Franco-Belgian utility GDF Suez has sold a 40% stake in Bahrain's Al Hidd power and water plant to Malakoff, Malaysia's largest independent power producer for US$113.4 million (€87.6 million). The divestment was made to fulfil a Bahraini regulatory requirement.
Drax Power Station is a month away from completing a £100 million upgrade programme to modernize the steam turbines. Upon completion, Drax and Siemens will have replaced the low pressure and high pressure turbines on all six units at the power station.
Investment bank Societe Generale anticipates a drop in traded prices for natural gas in the U.S. due to lower demand. The NYMEX front month is forecast to drop to US$2/MMBtu, with falling gas prices set to increase the share of gas-fired power generation in the U.S. energy mix.
Alstom, the French manufacturer of power generation technology, is ramping up manufacturing capacity and output at its Chattanooga facility in Tennessee, with a view to boosting its share in the buoyant U.S. market.
"Our investment in Chattanooga is a reflection of our confidence in the U.S. market," Patrick Fetzer, Regional Vice President of Alstom's gas power plant business in North America said with reference to forecasts about "a substantial short-term grow of the country's gas-fired power generation sector.
The British government is developing a gas generation strategy with the aim of encouraging investment in new gas plants, said Charles Hendry, minister of state for energy in the U.K.
"The role of gas has not been sufficiently clear," Hendry said at a Lloyd's Register press conference late yesterday, voicing support for a growing role of gas in Britain's energy mix. "The earliest we can have a new gas plant is 2019," he forecast.
Siemens Energy has been awarded a contract to provide long-term maintenance services for 16 SGT-400 industrial gas turbines at the Santos GLNG Project in Queensland, Australia. The multi-million dollar service order is Siemens' largest ever for its small gas turbine (SGT) product line, it said today.
RWE posted a 14% drop in operating result to €2.4 billion today. "Declining margins in electricity generation and burdens suffered by the gas midstream business in particular adversely affected the result for the quarter," the Essen-based company said.