Australian investment bank Macquarie is understood to be eyeing investments in European gas power plants as asset prices hit a low. The bank seeks to expand its existing infrastructure portfolio and the reduced price of many gas-fired power plant assets across the continent is thought to have driven interest from the bank.
Mitsubishi Heavy Industries (MHI) has won the first order for J-Series gas turbine. Grand River Dam Authority (GRDA), Oklahoma's state-owned utility, selected MHI supply an M501J gas turbine for its Chouteau power station.
Citing an unprecedented escalation of gas prices in the January cold snap in the U.S., PJM, the power grid operator for 13 eastern states, has called on the Federal Energy Regulatory Commission (FERC) for approval to exceed a $1,000 per megawatt price cap on power purchased from gas-fired plants.
Turning away from its traditional gas export routes to Europe, the Russian government plans to at least double flows of oil and natural gas to Asia over the coming 20 years, a draft document of its energy strategy shows.
Dubai Aluminium (DUBAL) has awarded a contract to Alstom to deliver the first MXL2 upgrade package for two GT13E2 gas turbines at its combined-cycle power plant (CCPP) in in the United Arab Emirates.
Public support for gas power in the UK has shot up by 50% in the past year, according to figures published by the UK’s Energy Research Centre (UKERC). The results of UKERC’s yearly poll show that favourablity to gas power rose from 40% in last year to 59% in 2013.
Japanese power producer Chubu Electric Power has announced plans to partner with India’s GAIL to bulk buy LNG in a bid to reduce fuel costs for its power plants. The deal would be the first major LNG buying co-operation between the two nations, both of which face gas prices four times higher than the U.S.
Turkey's energy minister Taner Yildiz has expressed interest to buy more oil and natural gas from neighbouring Iran at competitive prices in an effort to curb Turkey's current account deficit that is mainly caused by expensive energy imports.
U.S. equipment manufacturer Cummins Power Generation has announced a new contract win to supply a turnkey cogeneration plant for Russia’s State Unitary Enterprise TEK SPb. The plant will feature four of the company’s updated C2000 N5CB gas generators, each of which generates 2 MWe of electrical output and a further 1.2MWth of thermal energy.
Figures from the U.S. Energy Information Authority (EIA) project a global shift in natural gas markets, with the United States set to become a net exporter of natural gas by 2018. Gas exports are underpinned by a steady rise in U.S. gas production, with output forecast to rise 56% between 2012 and 2040 to reach37.6 trillion cubic feet (Tcf) by the end of the forecast period.
Spain's Iberdrola has been awarded a contract to develop, build, own and operate the Baja California III combined cycle power plant in Mexico. Commissioning of the new gas-fired plant will come at a cost of about $270 million and the project is set to step up Iberdrola's operating capacity in Mexico to a total of 5,200 MW.
Germany's E.ON and RWE are planning to shut-down or scale-back output at several gas-fired power stations in the UK despite repeated warnings from the National Grid that Britain faces a capacity crunch and the risk of power shortages or blackouts.