Month: January 2020

COPENHAGEN: Denmark sourced almost half its electricity consumption from wind power last year, a new record boosted by steep cost reductions and improved offshore technology. Wind accounted for 47 per cent of Denmark’s power usage in 2019, the country’s grid operator Energinet said on Thursday citing preliminary data, up from 41pc in 2018 and topping the previous record of 43pc in 2017. European countries are global leaders in utilising wind power but Denmark is far in front of nearest rival Ireland, which sourced 28pc of its power from wind in…

Read More

Wind OEM giant Vestas ended 2019 with a record 16.4GW in the bag and the prospect of a final tally even higher once smaller unannounced deals are added later. The total easily surpasses the previous record 14.2GW it notched up in 2018 , helped by a year-end flurry from markets spanning China, Russia, and North America. The unannounced orders won’t be added until the Danish group posts its 2019 full-year results on 5 February, but are likely to comfortably push it past the 17GW mark. Vestas’ year-end order joy spans…

Read More

US natural gas futures fell on Thursday, hovering close to a four-month trough, with weather forecast to stay mild for a couple of weeks and gas production nearing record highs. Front-month gas futures for February delivery on the New York Mercantile Exchange were down 3.7 cents, or 1.7%, at $2.152 per million British thermal units at 10:05 AM (1507 GMT)EDT/EST. “Warmer than expected weather and high production are putting pressure on prices and the forecasts going forward does not imply cold weather,” said Phil Flynn, senior analyst at Price Futures…

Read More

ISLAMABAD: Despite system constraints, the Liquefied Natural Gas (LNG) supplies into the system increased by almost 14 per cent during calendar 2019 over the preceding year and reduced gas shortfall by 20-25pc. The two LNG terminals operating in the country reported to have pumped more than 393.6 billion cubic feet (BCF) of gas into the national gas distribution network in 2019 compared to 345.6 BCF of 2018, showing an increase of 14pc, a Petroleum Division official said. He said the lower economic growth rate coupled with higher prices restricted the…

Read More