Combined marketed production from the top five natural gas producing states - Texas, Louisiana, Wyoming, Oklahoma, and Colorado – has risen about 7.5% in 2011, according to latest EIA statistics. Abundant domestic supplies and low gas prices reinforce the trend among U.S. power producers of switching from coal to gas.
Transco, a key gas transmission pipeline in the U.S., is preparing to increase gas transport capacity to satisfy rising gas demand for power generation. "Power generation is the driver behind about a third of the volumes in proposed projects in development on our Transco pipeline," Alan Armstrong, chief executive of Williams Partners' said.
February 2012 was an "outlier" in electricity consumption and should be considered as such, Societe Generale analysts, led by Paolo Coghe and Thierry Bros, wrote in the Energy Pulse report issued today. The prolonged and record-breaking cold spell endured by Europe during the first half of February resulted in strong electricity consumption – but just for the month itself.
Reliance Industries, India's biggest company by market capitalisation, has filed for arbitration this week, claiming the Indian government is restricting it from recovering cost on developing an offshore gas block. The dispute prompted Reliance to curtail gas supplies to Indian power plant operatiors, leaving India with a severe electricity shortage.
International Power (IP), a London-based energy group, has posted a 5% rise in revenues to €4,257 million in the first quarter driven by strong growth in Asia and Lation America. In an interim management statement, IP said revenue in Asia surged 22% to Eur491 million while revenue in Latin America increase by and 16% to Eur1.021 billion.