Markets

Additional supply of natural gas through Nord Stream-2, the second leg of the Russian-German interconnector through the Baltic Sea, can contribute to security of power supply in during the Germany’s coal exit, said Ronald Pofalla, co-chair of the government’s coal commission.

New flexible supply source are transforming the global gas market and will lead to a growth in demand by about 300 billion cubic meters (Bcm) by 2022, McKinsey analysis fins. Asia, and notably China will make up nearly half of that additional demand.

The President of Argentina, Mauricio Marci, has welcomed the Emir of Qatar Tamim Bin Hamad Al Thani on a state visit, expressing confidence that “the trade volume between the two countries will increase rapidly in the coming years.” Argentina is trying to limit LNG imports, and become an energy exporter by effectively exploiting the country’s massive reserves of tight oil and shale gas at the Vaca Muerte formation at the Neuquén Basin.

In the first half of 2018, both natural gas supply and demand in the United States have increased by 12% compared to the first half of the previous year. Consumption and exports of U.S-produced gas averaged 93.4 billion cubic feet per day (Bcf/d), while total supply averaged 93.3 Bcf/d, according to the EIA’s September issue of Natural Gas Monthly.

Capstone Turbine Corp, the California-based manufacturer of microturbines, has seen its produce revenue increase 22% to reach $14.9 million in the second quarter of fiscal 2019. CEO Darren Jamison said the company made “progress towards fiscal 2019 strategic objectives” and recorded its second consecutive growth in product shipments.

UK Power Reserve (UKPR) has awarded the second phase of its battery-based energy storage contracts to Fluence, a Siemens and AES company. The 120-MW project is underpinned by capacity contracts secured in 2016, and UKPR is now tapping Fluence technology to enhance grid flexibility with all new storage projects scheduled to be in operation by winter 2020.

The French EPC company Groupement TEC-IEE has contracted Wärtsila to build a small-scale power project intended to boost the development of local industry in Equatorial Guinea. The new 38-MW plant, equipped with four 34DF dual-fuel engines, will be running primarily on gas supplied from the country’s offshore fields.

Anglo-Swiss commodity trading and mining company Glencore has signed a financing deal with Limay LNG Power Corp. of the Philippines and China Energy Equipment Company to jointly realize an integrated LNG import and power generation facility. The project includes a floating storage and regasification unit (FSRU) that will supply to fuel a power plant with up to 1,100 MW installed capacit in Bataan, Luzon Island.

MHI Compressor Korea Ltd. (MCO-K) has been launched as a Joint Venture by a group company of Mitsubishi Heavy Industries and Mitsubishi Corp. Operating out of Seoul as of October 1, MCO-K is tasked to “further cultivate the promising market in South Korea,” where the Japanese manufacturer already sold many compressors and drives.

Ansaldo Energy, the Italian power engineering company, has shipped the first gas turbines from its new production facility near Genoa Cornigliano. Following final assembly, large heavy-weight turbines – including Ansaldo's flagship GT36 – can now be shipped directly from the port of Genoa to customers worldwide.

Net natural gas exports from the United States are spiraling up as more and more LNG export capacity comes into operation. From January through June of 2018, net gas exports averaged 0.87 billion cubic feet per day (Bcf/d), , which is more than double the average daily net exports during all of the previous year, at 0.34 Bcf/d.

Finland-based technology group Wärtsilä has decided to redesign its organization into two separate business areas – Wärtsilä Marine and Wärtsilä Energy, both covering new sales and services. With this change, Wärtsilä aims to deliver better value and serve to customers. The new structure will be in place as of 1 January 2019.

Rolls-Royce, one of Britain’s leading engineering companies, has bought a stake in the Berlin-based energy storage and systems start-up Qinous. Marcus Wassenberg, CFO at Rolls-Royce Power Systems called the acquisition a “strategic investment” aimed at setting up a partnership to “develop of innovative energy storage solutions to meet tomorrow’s needs.”

Singapore’s SP Group has contracted ABB to supply its DC fast-charging stations as part of an initiative in Singapore to accelerate the adoption of e-mobility in the city-state. In total, ABB will install 500 EV charging points across Singapore by 2020.  

U.S. equipment maker Chart Industries has acquired VRV Spa., a leading niche manufacturer of cryogenic equipment, to complement its offerings and extend its foothold in the European market. Integrating VRV’s business will complement Chart’s Distribution & Storage and Energy & Chemicals technologies.

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