Global gas and coal markets will be in a slight surplus for the remainder of the year and in 2013 as subdued demand is outweighed by ample supplies; however by 2014 gas markets are forecast to tighten, Barclays Capital said in its Global Energy Outlook.
Deutsche Bank analysts expect Japan's total thermal power generation requirement to rise to 90 GW in December 2012, provided that no further nuclear reactors will be restarted and overall demand pattern are consistent with the previous year. "This forecast implies that thermal power requirement will be 5 GW to 8 GW higher in January and February 2013 than it was this past winter," analysts Isabelle Curien and Mark Lewis said in an emailed report today.
Siemens Infrastructure & Cities announced it has bought Australia's Kaon Holdings Pty Ltd, effective as of August 31, 2012, with the aim of expanding its share of the global market in energy distribution solutions for overhead power lines. Siemens said it will "take over and continue to sell all of Kaon's existing products" and establish a centre of competence in Australia for medium-voltage products.
Alstom and Toshiba said today they have signed a Memorandum of Understanding (MoU) to establish complementary partnership in the smart grid business with the aim of developing systems that support wide scale integration of renewable energy sources into the grid and help to bring down the cost of power generation.
Wood Group GTS has secured a $10 million contract with Pasadena Water & Power (PWP) for repair and restoration of the GT-1 generating unit at their Glenarm Power Plant in Pasadena, California.
Despite most of the oil and gas production in the Gulf of Mexico being shut down following the landfall of Hurricane Issac, natural gas market in the US barely reacted. The abundance of shale gas supply has reduced the significant of offshore production, analysts say.
GE has been commissioned to install two of its aeroderivative gas turbines at a combined heat and power plant (CHP-1) in Yuzhno-Sakhalinsk, owned by OJSC (RAO Energy System of East). The total project cost is 3.3 billion rubles ($ 0.101 billion), GE said.
India's power ministry and the eight north Indian states, which were affected by prolonged blackouts after the collapse of the power grid on 30 and 31 July, have agreed on a 12-point resolution to avoid a similar crisis. "The Centre and the concerned states agreed to abide by a 12-point resolution to ensure that such breakdowns in the power grid do not recur," the ministry said in a statement.
Starting from 2013, E.on Russia will source its entire gas supply for its power plant fleet from Russia's second largest gas supplier Novatek instead of Gazprom. Under a $22 billion agreement, Novatek will supply gas to E.on Russia's plants at Smolensk, Surgutsk, Shatursk and Yaivinsk until 2027.
Alstom Poland has signed a contract worth close to €4 million (PLN 16 million) for the modernisation of a UK-50 type steam turbine at the Siekierki combined heat and power (CHP) plant, owned by PGNiG Termika SA, a subsidiary of state-controlled PGNiG. The retrofit is scheduled to be completed by September 2013.
The Indian government is not paying enough attention to smaller gas-based plants to cater for peak load demand as it focusses on large-scale coal-fired plants that provide base load capacity. The Indian power ministry recently awarded licenses for four Ultra Mega Power Projects with a capacity of 4,000 MW each. All plants are coal based.
The United States is currently facing its worst drought in decades which is likely to reduce power supply since electricity generation can be very water-intensive, the U.S. Energy Information Administration (EIA) warns.
Swiss power and automation group ABB has been awarded an order worth $60 million by American Electric Power (AEP) to replace a 30-year-old high-voltage direct current (HVDC) converter station in Texas. The new station is scheduled to be operational in 2014.
Despite short term restraints in the market for gas-fired power generation, new analysis from Frost & Sullivan's Energy & Power Research expects "sound" medium- and long-term prospects and forecasts global gas-fired power plant orders to total 537 GW through 2020.
GE Energy Financial Services has served as lead arranger of an $107 million senior secured credit facility for two Illinois gas-fired peaker plants, managed by Tenaska Capital Management, LLC (TCM), an affiliate of Tenaska, one of the largest U.S. independent power producers.