Tuesday, September 22, 2020

Gasfired Power Plants News

Ørsted Tops World's Sustainable Companies

Image: Ørsted

The global leader in offshore wind Ørsted becomes the first-ever energy company to top a index.The Denmark-based global power company has outperformed more than 7,300 global companies with billion-dollar revenues to rank #1 in Corporate Knights' 2020 index of the Global 100 most sustainable corporations in the world.Henrik Poulsen…

Total Criticizes EIB's Decision Not to Finance Gas

With a plateau production of 100,000 barrels of oil equivalent per day (boe/d), Culzean will account for around 5% of the UK’s gas consumption (Photo: Total)

Total criticized on Thursday the European Investment Bank's decision to stop financing all fossil fuel projects including gas, saying companies that might switch to gas-fired power plants from heavy-polluting coal could now reconsider."I think it is a poor decision by the European Investment Bank (EIB) not to finance any new gas project.

Excelerate to Build FLNG Terminal in Philippines

Image: Excelerate Energy

Philippine authorities have given Excelerate Energy LP permission to proceed on plans to develop a floating natural gas import terminal to supply existing and new power generation.Texas-headquartered player in floating LNG regasification solutions, received a notice to proceed (NTP) from the Philippine Department of Energy (DOE) to develop Luzon LNG…

RWE Open to Partnerships in US Wind

(Photo: Lutz Kampert, Dortmund / RWE)

German utility RWE would consider teaming up with peers and oil companies to make a move in the U.S.

Philippines Greenlights LNG Terminal Project

© Carsten Reisinger / Adobe Stock

Philippine power producer First Gen Corp said on Friday it has learned that the Department of Energy has approved its application for a Notice to Proceed (NTP) for the construction of its FGEN Batangas LNG Terminal Project.First Gen, which operates four power plants with a combined capacity of 2,000 megawatts running on the Philippines' Malampaya natural gas, said it

Morocco Preparing Tender for $4.5 bln LNG Project

Morocco is preparing to invite bids for a liquefied natural gas (LNG) project in Jorf Lasfar worth $4.5 billion, Energy Minister Aziz Rabbah said on Monday.Speaking on the sidelines of an energy conference in Marrakesh, he declined to give details.Last year, Moroccan state-owned power utility ONEE said it had picked HSBC Middle East Ltd as financial adviser for its pl

Total adds Solar and Hydro Power Capacity in France

Total subsidiaries have won tenders for 15 French solar power projects and 5 tenders for small-scale hydro power generation units which will add around 112 megawatts of capacity to its portfolio, the energy producer said on Wednesday.The solar power projects will produce around 120 gigawatt hours (GWh) of electricity annually, meeting the requirements of around 45,000

Batteries hasten winds of change for electricity stocks

(Photo: Eric Haun)

Bigger, better batteries are speeding up change in the U.S. electricity sector and could help power a rally in Xcel Energy Inc, American Electric Power Co Inc and other utility and renewable energy stocks, Barron's reported.After a decade of steep cost declines, wind and solar installations, often paired with battery storage…

Germany Approves New Offshore Wind Parks

A typical offshore wind farm (CREDIT: Siemens)

Orsted, Innogy report winning approvals. Germany granted approval on Friday for offshore wind parks capable of generating 1,610 megawatts (MW) of power at contract prices well above the unexpectedly low bids seen in an auction a year ago. The total amount of electricity that could be produced by…

U.S. NatGas Ticks Up as Traders Reassess Market

© Sergii Ryzhkov / Adobe Stock

U.S. natural gas prices have bounced by almost 10 percent since the start of the month as traders reassess their earlier bearish view this winter amid signs sentiment had become far too gloomy. Futures prices on the New York Mercantile Exchange for gas delivered to Henry Hub in January 2018 have…

US Natural Gas Prices Under Pressure Even as Stocks Tighten

U.S. natural gas stocks continue to tighten, but most traders appear unconcerned, with futures prices for gas delivered this winter close to the lowest levels since the start of the year. Working gas stocks in underground storage were 35 billion cubic feet (bcf) below the five-year average at 3,646 bcf on Oct. 13, according to data from the U.S.

Perry's Proposed Grid Rule Scrambles Energy Alliances

U.S. Energy Secretary Rick Perry's attempt to save the coal and nuclear industries by proposing a new grid resiliency rule is making for some odd bedfellows across the energy sector. The proposed grid resiliency rule threatens to turn two of the Trump administration's most loyal groups of supporters against one another…

Coal's Problem is Not Climate Change: Kemp

© EyeMark / Adobe Stock

U.S. coal companies blame climate campaigners and the Obama administration for waging a war on coal that has cost thousands of jobs and threatened struggling mining communities. But coal’s long-term problems stem not from politics but from physical properties that make it an inferior source of energy compared with oil, gas and (arguably) renewables.

OPEC Oil Supply Lost in Fog of Data

The Organization of the Petroleum Exporting Countries coordinates the policies of its members by giving each of them a production allocation rather than limiting how much they can export. OPEC agreements have been specified in terms of output rather than exports since the first allocations were agreed in March 1982 (“Annual Statistical Bulletin”, OPEC, 2017).

Hedge Funds Turn Bearish on U.S. NatGas

File Image: An LNG Carrier at Sea (CREDIT MISC)

Hedge funds have turned much more bearish towards U.S. natural gas prices after stocks built much more than expected at the start of the summer cooling season. Hedge funds and other money managers cut their net long position in the two main futures and options contracts linked to Henry Hub prices by 765 billion cubic feet in the week to June 6.

Total Looks at Downstream to Spur Gas Demand

France's Total SA is looking to invest in gas and power infrastructure projects in Morocco and South Africa as it seeks to open new markets, the company's head of gas said on Thursday. Total will roughly double its liquefied natural gas (LNG) portfolio by 2020 to 15 million tonnes per year, but the…

U.S. Natural Gas Prices Tumble as Coal Surges

File Image (credit Inland Marine)

U.S. natural gas prices have tumbled by more than 10 percent since late May as hedge funds start to liquidate a near-record bullish position accumulated in the expectation of a tighter market that failed to materialise. Hedge funds and other money managers reduced their combined net long position…

U.S. Coal Set for 2017/18 Upturn: Kemp

File Image (CREDIT: AdobeStock)

U.S. coal producers can look forward to an increase in production and jobs during 2017/18 as the industry recovers from the depression of 2015/16. The medium-term outlook remains challenging but some of the short-term problems that tipped the industry into crisis over the last two years are abating.

US Coal Set for an Upturn in 2017/18

© micdansmi / Adobe Stock

U.S. coal producers can look forward to an increase in production and jobs during 2017/18 as the industry recovers from the depression of 2015/16. The medium-term outlook remains challenging but some of the short-term problems that tipped the industry into crisis over the last two years are abating.

Strike at CNR's Ivory Coast oil and gas fields extended

Workers have extended a strike indefinitely at Canadian Natural Resources' (CNR) Baobab and Espoir oil and gas fields in Ivory Coast, the SISPOO oil workers union said on Saturday. A 72-hour strike was called early on Wednesday over the firing of workers and was extended on Friday after the parties failed to reach an agreement.