The global gas turbine market will grow by $2.44 billion, or 2%, over the next four years, according to Technavio research. The market is fragmented and sales badly hit by the coronavirus crisis, but analysts say the degree of fragmentation will accelerate in the years through to 2024.
German Energy Agency dena has advised the Government to support households by lowering the renewable surcharge they pay with their power bills, also known as the EEG levy, to zero by 2021. The resulting lower electricity prices would help stimulate private consumption.
Denmark’s decision to allow Gazprom to build Nord Stream-2’s final stretch with Russian pipe-laying vessels means the controversial interconnector will become a reality. Fresh U.S. sanctions “cannot stop the project now” analyst say, as the permit makes works “cheaper and easier” for Gazprom.
Shell says its REFHYNE hydrogen electrolyser project, based on proton exchange membrane (PEM) technology, will be supported by the European Commission’s new hydrogen strategy. The policy sets out pathways how clean hydrogen can help the EU reach is 2050 net-zero emissions target.
Shanghai Electric, in consortium with Ansaldo Energia, has been contracted by North West Power Generation to design and build a combined-cycle gas power plant in Rupsha, western Bangladesh. The 880 MW plant will be powered by two GT26 gas turbines, manufactured by Ansaldo in Genoa.
Rolls-Royce’s power systems arm, hit hard by Covid-19 disruptions, has today posted a double-digit decline in revenue. Long-term, the outlook for sustainable power “remains positive,” Rolls-Royce's H1-2020 trading update reads. CEO Warren East stressed “as for Power Systems, many of our impacted end markets are forecast to recover by the end of 2021."
The UK energy industry has welcomed the £3 billion green energy stimulus package, unveiled by UK Chancellor Rishi Sunak as part of a wider strategy to revive the economy from the impact of the coronavirus. Grants to insulate homes, improve energy efficiency and retrofit green heating technology are seen as “critical” for the UK’s overall 2050 net-zero emission targets.
Global Reporting Initiative (GRI) has launched a 90-day public comment period for its 2020 Oil and Gas Sector Standard as momentum to replace fossil fuels is gaining traction. GRI standards focus on sustainability, widely seen as the industry’s “single biggest challenge”.
Shanghai Electric Power has made a fresh and slightly improved offer to K-Electric to acquire 66.4% of its shareholding. Arif Habib Ltd, the local bidding manager of Shanghai Electric, specified his client wants to buy up to 18.336 billion of K-Electric’s total issued shares.
Natural gas exports from the United States to Mexico are seen rise by 40% with the completion of the southern-most segment of the Wahalajara system, also known as the Villa de Reyes-Aguascalientes-Guadalajara (VAG) pipeline. The 0.89 billion cubic feet per day (Bcf/d) pipeline entered service this June.
Engineering solution provider FuelTech has been awarded several equipment orders worth $2.2 million. In Europe, two order wins stipulate the use of NOxOUT Selective Non-Catalytic Reduction (SNCR) systems for single combustion units, firing natural gas and biomass. SNCR technology helps plant operators to comply with more stringent NOx emission rules.
Rumours of a Chinese takeover of the British multinational engineering company Rolls-Royce are circulating once again. In a statement, the company confirmed it is in “early stages of reviewing options to strengthen its balance sheet,” though no decisions have been made.