Electricity Costs News

With passage of the Inflation Reduction Act, which contains US$370 billion for climate and energy programs, policy experts are forecasting a big expansion in clean electricity generation. One source that’s poised for growth is offshore wind power.Today the U.S. has just two operating offshore wind farms, off of Rhode Island and Virginia, with a combined generating capacity of 42 megawatts. For comparison, the new Traverse Wind Energy Center in Oklahoma has 356 turbines and a 998-megawatt generating capacity.

Windfall revenues from high European gas prices mean Russia's Gazprom will not start pumping gas through the Nord Stream 2 pipeline before certification and it will not press Germany to speed up the process, two sources said.Pumping gas without the German approval would only incur a modest fine, but as Germany gets new political leadership and Russia's ties with the West are severely strained, a source at Gazprom said it was content to wait."We don't want to seek faster approval for the pipeline.

A rapid startup of the Nord Stream 2 gas pipeline from Russia to Germany could help calm record-high gas prices in Europe, Kremlin spokesman Dmitry Peskov told reporters on Wednesday, as Moscow awaits for regulatory clearance for gas flows to begin.Russia announced last week that it had completed construction of the $11 billion Nord Stream 2 to Germany, doubling its gas exporting capacity via the Baltic Sea. However, the start of gas flows via the route needs the approval of Germany's regulator…

Global Natural Gas Liquid Market is poised to cross 14 million barrels per day by 2025, said a study.Japan natural gas liquid market is projected to surpass an annual consumption of 0.2 mbl/day said the latest study by Global Market Insights.Accelerating funding’s toward chemical industry along with the manufacturing of high value-added petrochemicals will augment the industry growth.In addition, up-surge in investments toward automotive sector coupled with expansion of various industrial base including manufacturing, refineries and chemicals will positively impact the product penetration.The U.S. natural gas liquid market is set to…

Private markets investor Partners Group has provided equity financing for the 500-MW Greenlink interconnector,  the subsea connection between Wales and Ireland in exchange for a stake in the scheme.To-date, Greenlink has been developed by Element Power, an independent renewable energy developer, which, together with funds managed by Hudson Sustainable Investments, is the other major shareholder in Greenlink.Greenlink will use a subsea high-voltage direct current (HVDC) cable system to connect the power markets of Ireland and Great Britain, improving the security of electricity supply in both countries and reducing average electricity costs for consumers.

Robert Allan Ltd. has developed a new all electric pilot boat for service involving short trips where the run to the ship is 5 nautical miles or less.An aluminum version of its steel predecessor, the RAlly 1600-E boasts a fully electric twin screw drivetrain and a substantial bank of high energy density batteries that are recharged from shore power. Twin small auxiliary generators give “get home” and range extension capability but are normally not running. The vessel runs quietly and emissions free and is capable of reaching speeds up to 20 knots.According to the designer…

Eagle LNG Partners has submitted an application with the US Department of Energy (DOE) requesting long-term, multi-contract authorization under Section 3 of the Natural Gas Act to engage in exports of natural gas in the form of liquefied natural gas (LNG). The application seeks authorization to export up to 49.8 Bcf, or ~1.0 million tons per annum (mtpa), of LNG per year to both free trade agreement (FTA) and non-free trade agreement (non - FTA) countries. The authorization is for Eagle LNG Partners’ proposed FERC-jurisdictional LNG export facility in Jacksonville, Florida, and requests authorization from the DOE to export LNG on its own behalf and as an agent for other organizations.

As operator, Statoil has awarded two contracts to Siemens plc for the engineering, supply, assembly, commissioning and service of 67 wind turbine generators for the Dudgeon Offshore Wind Farm project. The wind turbine generator (WTG) supply contract will cover engineering, procurement, assembly and offshore commissioning. Each turbine (6 MW) consists of a tower section, a nacelle and three separate rotor blades (154-meter rotor diameter). The engineering work will commence in…

No industry has escaped the economic changes of the last decade, and the marine industry is certainly no exception. But with every economic struggle emerges new solution providers, poised to help fill new needs. St. James Stevedoring Partners LLC is among these innovators in the marine industry. It operates the state-of-the-art St. James Stevedoring (SJS) bulk handling operations along the lower Mississippi River serving ocean going vessels and river barges and transloading millions of tons of dry bulk commodities.

Alfa Laval announced the addition of the new T35 gasketed plate heat exchanger to its broad portfolio of marine products and solutions. With patented features, the T35/TS35 introduces changes to today’s marine coolers and cooling systems in order to deliver unrivalled thermal efficiency, greater temperature flexibility, minimized fouling and reduced usage of raw material, the manufacturer said, adding, innovations to the frame, plate and gasket designs promise to raise heat transfer efficiency, lower investment and operating costs and reduce maintenance costs.