Saudi Arabia is set to burn more of its domestic gas resources to generate power as it invests $109 billion to increase alternative and renewable energy sources. "Over the past two years we have seen a renewed commitment to alternative energies by the Saudi government," James Fallon, Saudi analyst at Control Risks said speaking to Gas to Power Journal.
Coal is set to overtake natural gas as it emerges as the "fuel of choice" in Southeast Asia due to its relative abundance and affordability, as the region's power demand is nearly doubling over the next two decades, forecast Yerim Park, Programme Officer - South East Asia, International Energy Agency (IEA).
The pace of depletion of Thailand's gas resources is concerning policy makers as it puts power supply security at risks and threatens to lead to high costs for gas and power imports. "If we do nothing, our energy import dependence will top 95% by 2030," Dr. Twarath Sutabutr, deputy director general at Thailand's Department of Alternative Energy Development and Efficiency warned, singling out renewable energy and interconnectors a key solutions.
Single-cycle gas combustion turbines play a vital role in ensuring US energy security, accounting for up to 27% of peakload power supply, according to new analysis by the U.S. Energy Information Administration (EIA). Single cycle turbines contributed 121 gigawatts of power and accounted for 3% of overall electricity generation in 2012.
Pavilion Gas, the LNG unit of Singapore's state-owned investment company, plans to boost its existing S$1bn investment in the sector with a view to start LNG trading in the region within three months. "I believe we have what it takes to attract growing LNG volumes into Asia, and will be in a position to set LNG prices in the region." Seah Moon Ming, chief executive of Pavillion said, suggesting this may lower prices.
Nigeria's natural gas demand is expected to hit 16 million tons per year (mtpa) by 2015; forecast gas production for 2013 is 6.9mtpa, up from just 4.6mtpa in 2010, according to the Nigerian National Petroleum Corporation (NNPC) and the corporation expects steady supply growth will boost the gas to power sector as new projects come online.
Higher natural gas prices relative to coal prices in the US have caused a 14% plunge in the use of gas for power generation over the first seven month of this year, according to EIA figures. Henry Hub spot prices currently hover around $3.50/MMBtu – a substantial rise from the $2.39/MMBtu average spot price for the first half of 2012.