Maturing resource plays in Southeast Asia are attracting a niche group comprising East Asian and Middle Eastern conglomerates, such as JXTG, Mitsubishi, POCO and Kufpec, together with Medco Energi, Saka Energu, KrisEnergy, Sapura Energy and other domestic independents.
Optimal power systems of the future will have “lots of renewable energy distributed all over the grid, and just the right amount of gas-fired power close to the centers of demand,” said De La Rey Venter, Shell's VP of Integrated Gas Ventures. Speaking at the World Gas Conference in Washington, he singled out low capital costs and scalability as "the beauty of gas-fired power."
Anticipating bright days ahead for the gas industry, the International Energy Agency (IEA) sees China’s hunger for gas grow by 60% which will keep global demand rising at a rate of 1.6% per year, reaching just over 4,100 billion cubic meters (Bcm) in 2023.
Dismissing investment in strategic natural gas pipelines as “an illusion of security of supply,” Peter Coleman, CEO of Woodside Petroleum, told the World Gas Conference in Washington that “sinking funds and time in laying a pipeline delivers dependence and limits choice.” Woodside has substantial stakes in three Australian LNG export plants.
EmberClear has been given the green light to build the 1,050 MW Harrison Power Project in Cadiz. The Ohio Power Sitting Board approved plans, paving the way for a start of construction in October. Commercial start-up of the combined-cycle power plant is slated for June 2021.
MAN Diesel & Turbo is embarking on a strategic and technological transformation, reflected in its rebranding to ‘MAN Energy Solutions’. In a strategic shift, the Augsburg-based company is now focusing on hybrid energy solution - gas genets plus renewable energies - that are meant to become its main source of revenues by 2030.
Dubai’s DEWA has awarded an order to Siemens to supply three SGT5-4000F gas turbines for Unit H Phase-4 of the Al-Aweer power plant complex. With a combined capacity of 815 MW, the three turbines will boost the total output of the Al-Aweer complex to more than 2.8 GW. Commissioning of the turbine trains is scheduled for spring 2020.
Cash-strapped GE has decided to sell its stake in the oil services company Baker Huges and spin off its healthcare section in a bid to slim down and cut costs. Focussing on aviation, power generation and renewable energy, GE said it aims to create a “simpler and stronger company.” The decision comes after GE had lost half of its market value in the past year, as the large gas turbine business has gone into disarray.
By 2025, there will be 29 GWh of second-life electric vehicle (EV) batteries available, far exceeding the size of today’s stationary storage market with 10 GWh available for storage application. For Hyundai Motor Group and Wärtsilä this presents “a blue ocean in the new energy business” they aim to capitalize on.
U.S. gas companies have been persistently waiting for new Appalachia takeaway capacity – notably the Rover Phase-2 pipeline – to come online this year so the region can provide the bulk of 2018’s dry production growth. Analysts at the consultancy Energy Aspects anticipate output gains in the Lower 48 will grow by 7.3 bcf/d year-on-year, of which 4.0 bcf/d is scheduled to come from Appalachia region.
Nearly two-thirds of oil and gas sector leaders, surveyed by the Norwegian classification society DNV GL, plant to boost spending on gas projects in 2018, with gas expected to overtake oil as the world’s primary energy source in the mid-2030s. Thereafter, the energy transition will enter its final phase-out of fossil fuels, with hydrogen and renewables set to gain momentum.
Mitsubishi Hitachi Power Systems (MHPS) announced a JAC-series gas turbine, using enhanced air cooling, has surpassed 8,000 cumulative hours of combined-cycle operation at the Takasago power plant in Japan. Exceeding this mark is taken as an industry benchmark for demonstrating a turbine's reliability.
Agreements reached by EU Institutions over the past fortnight on energy efficiency, energy governance and renewables “fall well short of a comprehensive approach,” according to COGEN Europe. The headline target of 32.5% energy efficiency by 2030 will be missed, the lobby group warns, in the absence of an “actionable framework”.
Following the release of three kidnapped Turkish workers on Sunday, the CEO of the General Electricity Company of Libya (GECOL) Ali Sassi is in talks with Turkey’s largest construction company ENKA about when to resume construction of the 660 MW Ubari gas power project. Sassi also reached out to South Korean EPC firms to return to work on suspended power plants in Tripoli.
The Australian Energy Market Operator (AEMO) no longer warns of an imminent gas shortage in southern and eastern Australia after government pressure has made LNG exporters commit to divert some cargoes to the local market. "No supply gaps are forecast before 2030,” AEMO said when releasing its annual gas outlook – a stark contrast to the body’s earlier concerns about shortages starting from mid-2018.