Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
Report: Gas could be sidelined by renewables in parts of Australia
by Daniel J. Graeber
(UPI) Jul 26, 2017


With Australia monitoring natural gas demand, a consultant group found gas-fired power could get squeezed out in parts of the country as renewables get cheaper.

A research project from Wood Mackenzie, in coordination with GTM Research, found that wind, solar and battery costs might decline enough to the point that, by 2025, they're competitive with gas-powered plants. For batteries in particular, whose costs are expected to decline by as much as 50 percent over the next decade, the researchers found storage capacity will be enough to meet the region's peak residual demand.

"By 2025, we expect battery charging cost to decrease as off-peak prices will gradually be set by excess wind generation," Wood Mackenzie's principal regional analyst Bikal Pokharel said in an emailed statement. "Battery storage then becomes a potential solution for managing peak loads."

Australia this week addressed energy security needs by adopting a measure for 2018 that gives the government the right to limit natural gas exports in order to satisfy domestic demand. Sen. Matt Canavan, the natural resources minister for northern Australia, said producers of liquefied natural gas were given formal demand of the measure, adding it was vital to protect the national economy from supply shortages.

"Our longer term goal is to increase domestic gas supplies," he added.

Royal Dutch Shell, meanwhile, announced its Prelude vessel, a first-of-a-kind ship designed to process LNG off the coast of Western Australia, arrived at its destination after leaving a South Korean shipyard in June. With LNG emerging in market share because of its diverse deliverability options, Shell said the Prelude floating LNG vessel opens up new export opportunities.

At 3.6 million tons of LNG expected each year, the facility can process an amount equivalent to Hong Kong's entire demand for natural gas.

For South Australia, Wood Mackenzie said the trend away from gas-fired plant was a good case study because it retired its last coal plant last year and should have enough renewable energy capacity installed to exceed peak demand by 2020.

"It is also worth noting that renewables built to date have been uneconomic without subsidies, and cost reduction trend will have to continue before they can compete," added Pokharel.

OIL AND GAS
Reduced Saudi oil imports lead U.S. oil inventories lower
Washington (UPI) Jul 25, 2017
Low imports of crude oil from Saudi Arabia, coupled with firm domestic petroleum demand, will likely reduce U.S. oil inventories, analysts said Tuesday. U.S. commercial oil inventories are expected to fall in the week ending July 21, analysts surveyed by S&P Global Platts said in a report. U.S. crude oil stock has fallen nearly 19 million barrels in the past three weeks, as excess surpl ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Algae cultivation technique could advance biofuels

Fungi that evolved to eat wood offer new biomass conversion tool

How enzymes produce hydrogen

New biofuel technology significantly cuts production time

OIL AND GAS
Non-toxic alternative for next-generation solar cells

Measure adds Aerial Solar Plant Inspections to Drone Services Portfolio

India's ageing trains get green makeover with solar panels

Solar Toolkit Developed to Help Municipalities Advance Solar Projects

OIL AND GAS
ABB wins $30 million order to support integration of offshore wind energy in the UK

GE's renewables not enough to boost overall revenue

Unbalanced wind farm planning exacerbates fluctuations

Algeria seen as African leader for renewable energy

OIL AND GAS
Underwater robot probes inside Fukushima reactor

Laser-Armed Nuclear Icebreakers: What Russia Has in Store for Arctic

Finland's TVO claims partial win in Areva nuclear dispute

Britain must leave EU nuclear body: Verhofstadt

OIL AND GAS
Dust deposits give new insights into the history of the Sahara

California extends tough climate policy measures to 2030

ADB warns climate change 'disastrous' for Asia

Scientists upgrade database tracking global temperatures across millennia

OIL AND GAS
Cartel probe looms over German car industry

Audi voluntarily recalls up to 850,000 diesel vehicles

Volkswagen fined $154 mn more in US for dieselgate

Daimler announces emissions recall of 3 mln diesel cars in Europe

OIL AND GAS
Iran, Iraq vow to boost military ties

After the battle: Mosul looks to rise from the ashes

Mosul's Christians face dilemma after Islamic State

Iraqis accused of siding with IS targeted for revenge: UN

OIL AND GAS
Trump keeps Iran deal, but threatens more sanctions

S. Korea seeks rare talks with North to ease military tensions

US sending mixed messages on Iran nuclear deal: Zarif

US-China citizen gets 10 years for spying in Iran; 2 Iranians charged in US over hacking




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement