Mitsubishi Heavy Industry (MHI) Group has updated its midterm business plan to focus on decarbonization through hydrogen co-firing, electrification and artificial intelligence. Reacting to lower demand for steam turbines, the group also cut its revenue target of 5,000 yen to 4,700 billion by end of fiscal 2020.
Start-up of two liquefaction trains - Cameron LNG Train 1 and Corpus Christi LNG Train 2 - have pushed total U.S. net gas exports to 4.1 billion cubic feet per day (Bcf/d) in the first half of this year, more than double pre-year levels. Apart from LNG, pipeline gas is exported to Canada and Mexico.
Sun-soaked Australia is seen as a future giant producer of hydrogen that could be exported to places like Germany for use in power generation and transport. The German industry is expected to import renewable hydrogen from Down Under in large quantities as early as 2025 to decarbonise their activities.
Tokyo Gas, Japan's largest natural gas utility, has posted a 9.4% rise in fiscal half-year net sales in the face of tough competition in the country’s liberalized energy market. The effects of a 1.7% drop in city-gas sales were compensated by a stark rise in Tokyo Gas’ customer base for electricity sales.
Petronet, the operator of India’s Dahei and Kochi LNG import terminals, has managed to push down the price for LNG cargoes from the US Gulf Coast. Tellurian, developer of the Driftwood liquefaction terminal, agreed to deliver cargoes to India at a price of $6 per unit – a much lower price than the price cap for output from India’s Malampaya gas field.
Shell Eastern Trading will likely be Hong Kong’s first supplier of US LNG for use in the 2.5 GW Black Point and 3.7 GW Lamma Island power stations. CAPCO and Hong Kong Electric already struck an LNG supply deal with Shell which covers up to 1.2 million tonnes per annum for 10 years, starting from 2020.