Terna, the Italian power grid operator, has awarded Ansaldo Energy and ABB a €70 million order to design, supply and maintain of three asynchronous compensator sets to help enhance grid inertia. Commissioning will be completed in 2020.
Vietnam has asked Japan to help fund several LNG import terminals, trying to maximise its share from Japan’s committed $10 billion investment across Asia. Vietnam needs to import LNG from 2022 and annual demand is seen rise to 15 million tons by 2035, mainly spurred by the power sector.
British energy companies are preparing for Brexit on October 31 amid uncertainty about future cross-border energy flows and carbon pricing. Cornwall Insight warns that with the risk of a depreciation of sterling, prices in both electricity and gas markets will go up.
Britain faces a difficult process of untangling its economic ties with the European Union which may put planned EU-UK gas interconnectors at risk. The Oxford Institute of Energy Studies (OIES) says the UK needs to “reshape its energy diplomacy” as it has to re-negotiate supplies with the EU and especially Norway, which covers some 39% of demand.
GE Grid Solutions is investing tens of millions of dollars to expand its range of sulfur hexafluoride (SF6)-free substation equipment. By 2025, the offering will include SF6-free gas-insulated substations and instrument transformers up to 420 kV, as well as circuit breakers up to 550 kV.
US-based Excelerate Energy will proceed with developing a floating LNG import terminal in the Bay of Batangas, Luzon, having received the go-ahead from the Philippines. The FSRU will supply gas to power stations in the region, ensuring stable electricity for metropolitan Manila.
Japan has committed to invest $10 billion in LNG import infrastructure and related power projects in India and Southeast Asia. The initiative is backed by public-sector financing from JBIC, and analysts expect it will help LNG compete with other fuels like coal in emerging economies.
Korea Electric Power Corporation (KEPCO) has developed artificial intelligence (AI)-based gas turbine monitoring. The system collects and analyses data from sensors installed in generators to predict parts malfunction and preempt turbine failures.
Natural gas is set to become a 'high-carbon fuel' after 2025, as the perception of gas generation changes over time amid EU member states trying to reach the European Commission's carbon reduction goals. "In the short-term, we need gas [generation] to keep the lights on," but analysts stressed "Carbon Capture Storage (CCS) will need to kick off after 2020."
Specialty chemical group Evonik Industries has contracted Siemens to build a combined-cycle power plant as a turnkey project at the Marl Chemical Park in the German state of North Rhine-Westphalia. The two-unit CCGT will replace Evonik’s onsite coal power plant by 2022.
The American Pipeline and Hazardous Materials Safety Administration (PHMSA) has introduced a three rules. Operators need, among others, reconfirm the material strength of their lines to ensure safe transport of the abundant U.S. natural gas production to LNG export terminals, domestic industry and power generators.
To meet burgeoning demand, Southeast Asia will have to invest an average of $17 billion per year in on new power generation units. Cheap coal is forecast to cover the lion’s share, before being overtaken by gas and renewables starting from 2034.
French power company EDF has admitted today that works for the Hinkley Point C nuclear power plant are running 15 months late and will cost nearly £3 billion more than the planned £22 billion. Critics dismiss new nuclear as expensive, compared with cheaper cost for gas gensets and offshore wind.
Fast-growing Asian economies will trigger a nearly 50% rise in world energy consumption by mid-century, according to the International Energy Outlook 2019. Gas use in non-OECD countries is set to surge 70% to reach 120 quadrillion British thermal units (Btu) in 2050.
India’s energy giant Petronet has signed a $7.5 billion agreement with Tellurian to take a stake in Driftwood LNG and import 5 mtpa. If supplies can be delivered at a close-to-fixed-price, analysts see it as “extremely attractive” for ensuring downstream sales to Indian power producers and industry.