Gas and variable renewables will be the only energy sources for which demand is higher in 2050 than today. Rapidly falling capital costs for solar photovoltaic will make the technology 25% to 50% cheaper than new gas-fired power projects, DNV GL analysts told Gas to Power Journal.
Malay property and industrial developer Tadmax Resources has received government approval to develop a 1,200 MW integrated gasification combined-cycle power plant (IGCC) on the island of Pulau Indah. Posco is building the plant, with a planned in-service date in January 2023.
The Palestinian Energy Authority and Massader are about to agree on terms to start construction of a much-needed power plant in Jenin. The 450 MW combined-cycle gas power plant will be the largest of its kind in the conflict-ridden country, fuelled by gas from the Gaza Marine field.
Electric utilities in Turkey are burdened with $47 billion debt of which up to $13 billion are at risk of defaulting. Before the end of this year, loans worth some $10 billion, mostly for gas-fired power plants, will need to be restructured, the Banks Association of Turkey (TBB) warned.
Rising dry gas production in the United States will be sufficient to meet demand for power generation and exports at a lower price than forecast. With this assement, the U.S. Energy Administration (EIA) lowered its Henry Hub spot price forecast for 2020 by 20 cents to an average of $2.55 per million British thermal units (mmBtu).
Japan’s Kawasaki Heavy Industries has spent $175 million to develop a floating gas-fired power plant, fuelled by LNG, and aimed at the Southeast Asian market. The power ships will be offered to utility customers on remote islands and in isolated locations with underdeveloped gas pipeline infrastructure.
Hungary’s CHP Erömü, a subsidiary of Veolia, has awarded Wärtsilä a 5-year extension to a power plant service agreement for the combined heat and power station. High plant availability of more than 95% had led to the deal.
Northwest European near-curve gas prices have fallen in recent days. With the TTF Oct-19 trading as low as 3.86 $/mmbtu, this low price drives up demand for LNG shipping to higher-priced markets in Asia. Energy Aspects says the TTF Oct-19 contract has already priced in much of the incremental demand from the power sector switching to gas from coal.
To test Power-to-Gas systems locally, Fraunhofer ISE installed a modular hydrogen injection system in the local gas distribution network in Freiburg, southwest Germany. Researchers coupled an electrolyzer with 120 kW electric connection power with a small hydrogen unit that is capable of storing 300 kWh of chemical energy.
Nearly 16 gigawatt of utility-scale gas power generation has been added in Florida between 2008 and 2018 – the most in any U.S. state. The share of natural gas in Florida’s energy mix surged from 47% to 72%, and EIA analysts anticipate gas-fired generation will continue to displace less cost-competitive plants fuelled by coal and petroleum liquids.
Spot LNG deliveries to Japan have decreased despite record-low prices as power generators like Jera, Tepco, Kepco and Chubu Electric prefer thermal coal over natural gas. Peak electricity demand is now largely met by thermal coal which remains the cheapest fuel source.
Mitsubishi Hitachi Power Systems (MHPS) has received an order from Hongkong Electric to supply power generation equipment for Lamma Power Station's Unit 12. The 380 MW combined-cycle gas power unit will be built with a view to start full commercial operations in early 2023.
Germany’s nearly simultaneous coal and nuclear exit is jeopardizing the country’s current high power supply security. Unless new flexible gas generators and renewable power sources get built in time, along with sufficient grid infrastructure, Germany is set to miss several key energy transition targets for the year 2020, McKinsey finds.
Wind and solar power are forecast to outperform combined-cycle gas power plants in most parts of the United States on a levelized cost of energy (LCOE) basis through 2040. However, Wood Mackenzie finds that combined-cycle gas power stations beat renewables on cost in Florida, the Midcontinent and in some spots in PJM West where gas prices are exceptionally low.
Caithness Energy, a privately-held American Independent Power Producer, is preparing to start construction of the 1,864 MW Guernsey Power Station in Ohio in 2022. The CCGT project, to be powered by GE 7HA.02 gas turbines, is moving to the next phase after having just secured $1.6 billion in financing.