Global installed capacity of aeroderivative gas turbine is forecast to surpass 21 GW by 2024, driven by mounting requirement for uninterrupted heat and electricity supply in remote off-grid areas. In the oil & gas upstream sector, in particular, there are numerous activities that can be supported by deploying small-scale aeroderivative gas turbines.
Australian commodities company BHP Billiton is continuing to exit its onshore assets in the southwest of the United States. “We expect to receive bids by June 2018, " BHP said, addding it aims to "proceed with negotiations to potentially announce one or several transactions in the first half of the 2019 financial year.”
Dominion Energy, owner of the Cove Point LNG facility in Maryland, is pulling out all the stops to acquire Scana Corp and its South Carolina natural gas and power assets. Regulatory approval for the merger is still pending. Now Dominion put forward a study, saying the merger would bring a $18.7 billion boost to the economy of South Carolina.
Chart Industries, the US LNG and energy equipment maker, has returned to a first-quarter profit following internal restructuring and amid a rise in its order-book. Order activity has risen 53%, or $111.4 million ($74.4 million excluding Hudson Products) above the first quarter of 2017, said Chart with reference to its acquisition of rival Hudson.
Gauging incremental gas demand, derived from new power plant projects worldwide, Energy Aspects says most of Asia’s new-build capacity drives "additional LNG demand,” while North American projects are “all likely to be fed by local shale gas. Analysts found there is over 37 GW of new gas-fired power generation capacity under construction in LNG importing countries which, upon start-up, will directly impact global LNG markets.
Dry natural gas production in the United States will keep growing over the next three decades, driven by demand from the industrial and electric power sectors. Beyond 2020, production is likely to grow faster than consumption, according to the EIA’s Annual Energy Outlook 2018, with excess volumes to be exported to Mexico or sold on global LNG markets.
Energy companies, investors and policy makers in Germany need to move faster to not miss the tipping points in the energy transition, which would leave many conventional energy investments stranded and could see taxpayers picking up the bill, experts warned at an industry event in Berlin. Blackrock Vice President Sverker Akerblom said there was enough capital available and renewables were competitive, but there were simply not enough projects to invest in. "A global carbon price would be important to drive investment," he said.
Oil major Total today announced it will buy the majority stake (74.33%) in the French utility Direct Energie for €1.4 billion (US$1.73 billion). Total CEO Patrick Pouyanné said the deal “is part of the group’s strategy to expand along the entire gas-electricity value chain and to develop low-carbon energies.”
Eni, the Italian state-owned oil and gas producer, has set out the timeline for sanctioning its LNG project in Mozambique. Final investment decision (FID) on the Coral FLNG project is set to be made in 2019, or 2020, with Eni targeting first gas from its Mamba discovery in the Rovuma basin for the Coral FLNG plant by 2024. Investors hope supply from the Coral venture could revive South Africa’s subdued gas-based Independent Power Projects (IPPs).
Iran’s Thermal Power Plants Holding Co. (TPPH) is working on realizing plans for adding nearly 3,000MW of new power generation capacity to help meet the nation’s growing demand in the peak summer period. Two-thirds of the projected capacity is already in place, with the remaining 1GW to be started up and grid-synchronized before the summer demand hikes.
Contributing of distributed’ power, largely derived from wind and solar energy, is expected to account for over 25% of Pakistan’s energy mix over the next decade. According to Reon Energy CEO, deployment of distributed power generators is booming due to the deficit in Pakistan’s power distribution infrastructure and as a response to high energy cost of fossil-fuelled generators.
Crippling gas supply shortages will soon be a thing of the past in Bangladesh as the country is about to start importing LNG, with the first cargo scheduled to arrive by mid-April. Though LNG imports will bring some relief, increases in gas-fired power generation capacity are likely to be limited to 1.0 GW in 2018, and 1.4 GW in 2019.
National Grid is anticipating a drop in the UK’s natural gas demand of at least 2.5% to 35.7 billion cubic metres (Bcm) in the summer 2018 period (April 1 to September 30), mainly due a decline in gas consumption in the electric power sector (gas burn) amid higher renewables energy contributions and lower gas injections into storage.
Blackouts are far and few between in the U.S. electric distribution system, with frequency and duration of power cuts varying greatly across the many electric distribution systems that serve about 145 million customers throughout the country. Customers in 2016 suffered an average of 1.3 interruptions and were left without electricity for four hours during the year.