Low wind and cold weather prompts prices to be at their highest level in two years
The European power market saw a new high of two years on Wednesday, amid cold temperatures and low wind supplies. LSEG's analysis showed that the demand for electricity in the region was increasing, while wind and gas generation declined. However, solar and coal production was on the rise.
US LNG Export Dominance Tested as Europe's Demand Wilts
The United States has remained the largest exporter of liquefied natural gas (LNG) so far in 2024, but a steep drop in selling prices and a sharp swing in export volumes to key markets is likely testing exporter appetite to stay on top.The United…
Top Australian banks restrict lending to carbon intensive projects
By slowing down lending for carbon-intensive projects, leading Australian banks are increasing their efforts to reduce carbon emissions and align themselves with global climate goals. Commonwealth Bank of Australia, the country's largest lender…
China to Overtake Japan in LNG Imports
Japan could lose its position as the world’s top LNG importer to China as early as 2022, said a new report by consultancy group Wood Mackenzie.By then, LNG imports in Japan are expected to decline 12 per cent to 72.8 million tonnes per annum (mmtpa) compared to 2018…
Eni, SABIC Form Gas Venture
Italian multinational oil and gas company Eni and Saudi Arabian chemical giant SABIC have signed a Joint Development Agreement to further develop an innovative technology for natural gas conversion into synthesis gas that can be further transformed into high value fuels and chemicals…
Batteries hasten winds of change for electricity stocks
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…
PetroVietnam, Exxon Mobil Ink Gas Generation Deal
State energy group PetroVietnam (PVN) signed an agreement with the Vietnamese unit of U.S. Exxon Mobil Corp on Friday to develop the country's biggest gas project for power generation, the state firm said. The Blue Whale project aims to produce the first gas for power plants by 2023.
Europe Could Absorb 40 bcm More Gas Annually - at Right Price
Level represents spare gas plant demand in six countries; gas generation margins recovered only briefly this year. Coal margins higher, ruled by global trends, EU CO2 policy. Europe's power industry could absorb around 40 billion cubic metres…
Sheltered from Biggest Risks, Green Fuel to Ride Out Oil Crash
Green power is cheap enough to compete with fossil fuels and will buck the trend of falling investment in oil and gas as it can offer long-term returns sheltered from political risk, investors and industry analysts say. Oil prices have dropped by around 75 percent since mid-2014…
Wärtsilä' Inert Gas Solution for LNG Carriers
Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea has contracted Wärtsilä to supply combined inert gas generators and gas combustion units for 17 new LNG Carrier vessels under construction at the company's yards. The vessels are being built for leading operators in Singapore…
U.S. Nuclear Operators Look to Save Plants
The U.S. nuclear industry has made a last-minute push to urge the Obama administration to protect the country's 100 nuclear units in its forthcoming carbon rule and prevent the early retirement of several plants. Representatives of the Nuclear…
California Zero Emissions Push Could Edge Out Natural Gas
Fifteen years ago, California led the way to cleaner transit buses with strict tailpipe emissions standards that effectively ushered out diesel as the primary fuel for buses in the state and replaced it with natural gas. Now, California is poised once again to take the lead…
TEP Solar Array at Fort Huachuca
Tucson Electric Power (TEP), an indirect wholly owned subsidiary of Fortis Inc. (TSX:FTS), joined military and federal officials today to dedicate a large solar array at Fort Huachuca that will help the U.S. Army achieve its renewable energy and energy security goals.
Carlton Power to Develop UK Power Plant
British power station developer Carlton Power said on Thursday it had signed agreements to build a 1.8 gigawatt (GW) gas-fire power station and take over GE's stake in a planned 1.5 GW plant. It aims to build the 1.8 GW power station at Trafford…
Supply Pressure Weighs on Prompt Prices
Prospects of higher solar power output and good thermal capacity availability cut European spot power prices on Wednesday as demand remained flat. German day-ahead baseload for Thursday delivery was 2.15 euros down on the day at 35.60 euros…
Dynegy Buys Duke Energy, Energy Capital assets
U.S. power company Dynegy Inc said on Friday that it would buy coal and gas generation assets from Duke Energy Corp and Energy Capital Partners, in two deals totaling $6.25 billion. Dynegy shares rose 4.6 percent in premarket trading on the New York Stock Exchange.
Iberdrola: U.S. LNG Contract Worth $5.6 bln
Spanish power company Iberdrola said on Friday it had signed a 20-year liquefied natural gas (LNG) sale and purchase agreement with Cheniere Energy Inc worth $5.6 billion. LNG deliveries are due to begin in 2019, Iberdrola said in a statement…
