South Korea today announced an energy roadmap for 2017-2031 which sets out steps on how to shift the country’s reliance on coal and nuclear power towards renewable energy and natural gas. Paik Ungyu, Minister of Trade, Industry and Energy confirmed the government's plan to shut down seven ageing coal power stations and convert six coal power projects to run on LNG.
France, Germany, the Netherlands, Sweden and the UK have announced at the One Planet Summit in Paris that they would “examine or introduce” an effective CO2 price in "relevant sectors." The UK already in April 2013 unilaterally introduced a carbon tax in the power sector, and the five EU energy ministers underlined their new joint initiative could be “an effective tool to comprehensively decarbonise the world economy.”
Insisting it needs more time, the European Investment Bank (EIB) has pushed a decision on whether to lend €1.5 billion to the Trans-Adriatic Pipeline (TAP) into early 2018, leaving project developers in limbo over the future of this strategic pipeline link in the EU’s Southern Gas Corridor.
The American Society of Mechanical Engineers (ASME) has handed an Emerging Technology Award to Siemens for the first successfully 3D- printed and fully tested gas turbine blades. Vetting what they call “ascending technologies”, ASME said the award winning products and processes have “left the breakthrough stage, crossed the commercialization valley of death, and are poised to reshape the industries where they compete.”
German utility Uniper and the British commodities trading house Javelin have teamed up to start selling 45 million tons of thermal- and metallurgical coal though a new joint venture with the coal miner Blackjewel. This JV also bought Noble Group’s US coal business for an estimated $34 million.
Adding value to an existing service agreement, GAMA Enerji has turned to GE’s Power Services for help to reduce fuel costs and improve reliability at its İçanadolu Doğal Gaz Elektrik Üretim Ve Ticaret (ICAN) combined-cycle gas power plant in the city of Kırıkkale, using a variety of digital solutions. Benefits from fuel savings will be shared between the two companies.
Gas flows on all major transit pipelines from Austria’s Baumgarten hub have resumed to Italy, Germany and Hungary before midnight, less than 24 hours after a deadly explosion shut it down on Tuesday. “All transit lines are 100% productive,” Harald Stindl, co-head of Gas Connect Austria told ORF Radio this morning.
Shale gas production in the Appalachia region has been increasing rapidly for the past five years, growing by more than 14 billion cubic feet per day (Bcf/d) since 2012, according to EIA’s Drilling Productivity Report. Overall Appalachian natural gas production grew from 7.8 Bcf/d in 2012 to 22.1 Bcf/d in 2016 and was 23.8 Bcf/d in 2017, based on EIA data through October 2017.
Italy has declared a state of emergency for energy after an explosion at Austria’s Baumgarten gas hub on Tuesday interrupted onward flows of Russian gas imports from the strategic hub towards Italy, the Balkans and southern Germany. Gas and power prices soared across Europe as the Baumgarten blast adds to fears over winter supply security, already impacted by Monday’s emergency closure of the UK’s Forties Pipeline System.
Chinese authorities have mandated power producers in some regions to return to burning coal, responding to acute gas shortages. Coal imports rebounded from a three-month low in November as utilities seek to replenish stocks prior to the period of peak winter demand.
Returning to Libya with contracts in the range of 700 million euros, Siemens will expand the installed power generation capacity of state-owned General Electricity Company of Libya (GECOL) by 1.3 GW. The deals will see Siemens build a 650 MW open-cycle power plant in Misrata, and a 690 MW open-cycle power plant in Tripoli West.
The Finish technology group Wärtsilä has been awarded a 7-year operation and maintenance (O&M) agreement to ensure efficiency and reliability of Termo Mechero Morro's power plant near Yopal in Colombia. The latest servicing deals expands on an earlier Wärtsilä construction contract (EPC) for the gas-powered plant, which is set to begin production in December 2017.
Demand for natural gas in Spain has reached a record 1,670 GWh on December 4 – the highest level seen in the past six years. Outage of one nuclear plant, combined with low wind power availability, propelled up gas demand from the power sector; but Enagas expects demand will rise further as the winter progresses.
Attending the inauguration of Novatek’s landmark $27-billion Yamal LNG plant, the Saudi Arabian Energy Minister Khalid Al-Falih confirmed the Middle East oil nation is considering investing in future LNG projects in the Russian Arctic. Talks are being held about setting up a $1 billion energy fund, aimed at fostering future supply of Russian LNG as part of a Saudi government plan to use more gas for power generation.
Fluctuation in power supply to the grid amid rising renewable penetration has been increasing the need for black-start generators. Analysts expect this market will grow at a rate of 3.8%, up from an estimated $1.24 billion this year to $1.50 billion by 2021.