China Gas Holdings, the largest independent Chinese city-gas distributor, has reported a 22.2% rise in fiscal half-year net profits to HK$4.91 billion (US$627.3m) and over US$3.5 billion in revenues as Beijing’s ‘Blue Skies’ anti-pollution policies led to rising use of natural gas for power generation and as a transport fuel.
FirstGen of the Philippines has freed up another $300 million for its projected floating storage and regas unit (FSRU), developed to ensure continuous fuel supply for 3,200 MW gas power capacity near Batangas City. LNG imports are vital for FirstGen as contracts for domestic gas supply from the Malampaya field will run out in 2024.
Norwegian shipping company Höegh LNG sees continued growth in global gas demand as falling LNG prices help developers press ahead with decentralized power projects, supplied with natural gas via floating regas and storage units. Höegh participates in two FRSU tenders in Asia, and seeks to renew all its short-term charters by 2021.
Algerian state-owned Sonatrach has renewed its gas export contract with the French utility ENGIE – just days after Kamel Eddine Chikhi was appointed as its new CEO. Energy sales are vital for the Algerian economy, and Sonagas stated it has already renewed its gas delivery arrangement with Botas, Galp Energia, Enel, Eni and Edisson as well as Naturgy.
Fast adoption of floating LNG technology across Asia is opening up new gas markets in Indonesia, Malaysia, Singapore and the Philippines. According to Black & Veatch, gas-fired power projects are “attractive for emerging markets” due to advantages in price, reliability and fuel access over developing technologies such as battery storage.
Energy demand in Africa, home to the fastest growing and youngest population on the planet, will be “critical for the world’s energy future, according to the International Energy Agency’s (IEA). In its latest World Energy Outlook (WEO2019), the Paris-based agency urged African leaders to tap the continent’s huge potential from solar, wind and natural gas.
Natural gas production in the United States is going from strength to strength, as is domestic gas use and export. According to Government figures, dry gas output surged 12% to 83.8 Bcf/d in 2018 and is on course to a fresh record this year. Consumption rose 11% over the same period, driven by demand from the power sector.
Chart Industries has installed and commissioned Europe’s largest LNG fuelling station near the northern German city of Bakum. Using cleaner-burning LNG as a transport fuel will help reduce sector emissions before Germany’s new national emission trading system (ETS) for transport comes into effect in 2021.
Amid growing needs for grid balancing, manufacturers of battery-based energy storages systems are struggling to source enough cobalt, lithium, and nickel. Analysts warn that the current low price for these raw materials defers the expansion of mining activity which could cause a supply crunch by mid-2020.
Fast-rising oil and gas production in the United States keeps pushing up utility-scale electricity generation from gas-fired power plants. The share of gas generation will rise from 37% this year to 38% in 2020, while the contribution of coal power falls from 25% to less than 22%, the EIA said in its latest Short-Term Energy Outlook.
Though green hydrogen is still more costly to produce than conventional sources, Wood Mackenzie expects it could reach parity by 2030 in Australia, Germany and Japan based on $30 per MWh for renewables. While technology is advancing, analysts see “considerable uncertainty” around hydrogen investment in Asia-Pacific.
U.S. infrastructure firm AECOM has seen its full-year revenue rise to $20.2 billion, despite a 3% drop in earnings at its construction services segment. Completion of several combined-cycle power plants in the fourth quarter was not replaced by new orders, as AECOM said it “decided to extract itself from the fixed-priced power plant market.”