GLG News by Mr. Himadri Banerji, Chairman and Managing Director
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
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China Strategy Or Good Time to Hedge For The Inevitable Gas Price Rise In 2010
September 21, 2009
What's Driving Natural Gas? | seekingalpha.com
Because of the industry downturn, relatively mild winter, and reduced cooling demand in the summer, demand for natural gas has been seriously curtailed. But supply and production levels cannot easily adjust to lowered demand.Thus natural gas futures price hit a 7 year low, dipping below $3 to $2.68 per MMBTU in beginning September 2009, and have been headed lower. Gas prices have tumbled roughly 80% from last year’s high above $13.
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Nuclear Future:The World Rediscovers Small is Beautiful
September 20, 2009
Small Nuclear Power:Self-contained power plants could supply growing energy demand in poor countries. | www.technologyreview.com
There is revival of interest in small and simpler units for generating electricity from nuclear power, and for process heat. The interest is driven both by a desire to reduce capital costs and to provide power away from large grid systems. The technologies involved are very diverse.The size range considered is 100 megawatts and 300 megawatts. They would be mostly marketed to developing nations where the transmission grids cannot handle the larger, 1,000-3,000 megawatt systems.
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India Awakens On a Renewable Energy Journey
September 18, 2009
CERC notifies tariff regulations for green power | pib.nic.in
As reported by the Press Information Bureau( PIB) India, the Central Electricity Regulatory Commission, CERC India has recently notified the tariff regulations for electricity generated from renewable energy sources, with the target of increasing the proportion of renewable energy power in the generation mix to 5% by 2020, from the lowly 3% as at present. News follows the implement ion of Renewable Energy Certificate (REC) mechanism as alternative for fulfilling renewable purchase obligations.
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BP Enterprise Gulf of Mexico:Beyond Frontiers Hitherto Unexplored By Mankind
September 8, 2009
What BP's New Oil Strike Means | www.businessweek.com
A vast discovery in the Gulf of Mexico is the latest sign of success in a high-risk, high-reward strategy. Tiber was drilled 250 miles (400 kilometers) southeast of Houston in 4,132 feet (1,259 meters) of water, reaching almost 31,000 feet beneath the seafloor. Transocean Ltd., the world’s largest offshore driller, used the Deepwater Horizon semi- submersible rig for the discovery. BP, which hasn’t disclosed the project’s costs, plans more wells to assess the find.
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BHEL, NPCIL and L&T Select Partners:40 Gigawat by 2020 Mission Nuclear India
September 8, 2009
Bharat Heavy, Nuclear Power to Name Overseas Partner (Update2) | www.bloomberg.com
European nuclear firms Alstom SA, Siemens AG, Skoda Power, a part of Skoda Holdings AS, and Russia’s OAO Power Machines are in the run as partners for BHEL for the "40 Gigawat by 2020 Mission Nuclear "of Asia’s third-largest economy. BHEL, NPCIL and Larsen & Toubro Ltd. who have announced plans for building manufacturing facilities for nuclear reactors are looking to bag orders in an industry worth over 20 billion dollars.
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China Buys Bigtime Into LNG Assets In Australia: Rio Tinto and Unocal revisited
September 3, 2009
China’s Oil Power Play | www.energytribune.com
A $15 billion deal for liquefied natural gas (LNG) involving Australia, China and global-oil heavyweight Exxon-Mobil(NYSE:XOM) Corp. has prompted many investors to worry that China may be using its global-markets muscle to “paper over” cracks in the global economy.In reality, however, this mega-deal is a harbinger of what’s to come, and highlights the road that global investors must travel in their journey to maximize their own investment returns.
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Innovation Explosion In Green Business: Commercializing Piezoelectricity
September 3, 2009
Taking a Fresh Look at a Long-Known Energy Source | www.nytimes.com
When a Piezo crystal is stretched or squashed, it produces electricity. Knowledge of piezoelectricity dates back to the 19th century. Commercial products using it have been around for decades — the most common are lighters for gas stoves, which use the effect to produce a tiny spark. A study by Innovative Research and Products, a market research firm based in Stamford, Connecticut, has predicted that the market for piezoelectric devices would almost double to $19.5 billion by 2012.
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Synchronized Dynamics of Clean Tech, Alternative Fuels, Natural Gas and Oil
August 31, 2009
Disparity between clean energy and clean fuel | www.commodityonline.com
Alternative energy and alternative fuels are completely different investments, fundamentally driven by two separate commodities: namely, oil and gas. And it's that distinction that holds the key to the clean fuel revolution
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Natural Gas Price To Cross 6$ Per MBTu in 2010.
August 31, 2009
Natural gas price sinks to lowest in 7 years | www.theglobeandmail.com
Natural gas prices continued to decline after falling on Aug. 21 to the lowest closing on the New York market in 7 years. For the week, [gas] prices declined 13.4%, or 43¢, and the price ratio between crude oil and natural gas now stands at 26.4:1, with predictions of even lower prices to come in the coming weeks.
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Low Natural Gas Prices In Abyss Predicted Till 2010
August 31, 2009
Will bearish gas market come back this year? | www.ogfj.com
In its August short-term energy outlook, the EIA projected a full-year average price of $3.92/MMBtu – a full 30 cents less than its previous forecast.However, as the economy bounces back and the supply-and-demand dynamic starts to balance, the EIA expects the Henry Hub price to rise to an average of $5.48/Mcf next year.The EIA said it expects storage inventories to set a record by the end of the injection season, reaching 3.8 tcf by the end of October, topping the record set in 2007 by 235 bcf.
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Even Solar PV Firms Like Suntech Passing Through Tough Times in 2009
August 26, 2009
Suntech selling solar panels in US 'below production cost' | www.rechargenews.com
Decrease in shipments and “a rapid decrease” in the price of PV products, increasing inventory, has led Chinese solar giant Suntech Power in selling solar photovoltaic (PV) panels in the US below its costs for materials, assembly and shipping, according to the company’s founder and chief executive, Shi Zhengrong. The company plans to freeze capacity expansion during 2009 until the credit market improves. The majority of its capital expenditures will be spent retrofitting existing facilities.
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Will BioSolar BioBackSheet Trip Dupont's Tedlar As PV Turns Around.
August 25, 2009
DuPont to Invest $120 Million to Increase Capacity for Tedlar(R) Photovoltaic Module Materials | www.yourpetrochemicalnews.com
Dupont expects that the rapid growth of the global solar market will increase the demand for Tedlar used as back sheet for solar panels, and other new materials that increase the efficiency of solar cells and modules. The company anticipates over $1 billion in overall sales of its solar products by 2012. Thus company has announced that it will invest US $120 million for a multi-phase production expansion of its Tedlar polyvinyl fluoride product line, increasing production capacity by 50%.
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Reservoir Capital's Gateway to Bosnia-Herzegovina From Lim, Drina to Neretvain?
August 25, 2009
Reservoir Opens Subsidiary to Evaluate Hydro-Power Opportunities in Bosnia | www.yourindustrynews.com
Reservoir Capital Corp. a Southeast Europe focused run-of-river hydroelectric developer working in Serbia and Bosnia has opened a branch office for its wholly-owned subsidiary in Bosnia and Herzegovina. The Company, ardently exploring new hydro projects, is currently conducting pre-feasibility studies on two hydroelectric projects totaling 48MW on the River Lim in southwest Serbia a welcome development as Bosnia seeks foreign investment to build power generation and transmission facilities.
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China Long Marches Towards 100 Gigs of Wind Power:Three Gorges Revisited?
August 25, 2009
China’s Huge Wind Initiative | www.windenergynews.com
It is reported that China, the world's second-largest energy user, has said it would bring its total wind power capacity to 100 GW by 2020 from the current 12 GW, part of a broad energy target to generate 3 percent of total electricity from non-hydro renewable energy. To that end, the National Energy Administration (NEA) has planned six 10GW-level wind power bases in areas rich in wind resources such as Inner Mongolia, Gansu, Xinjiang, Hebei and Jiangsu.
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Quiet Burial for Climate Change: Vestas Closes Isle of Wight Plant in Britain.
August 14, 2009
Even the Isle of Wight wants Miliband to buck the market | www.guardian.co.uk
It is reported in the Guardian UK that Vestas has finally closed down the wind turbine manufacturing plant in the Isle of Wight in UK after the UK government refused to take steps for revival or sustainence through bailout or nationalization. The plant was designed to produce wind turbines for the burgeoning US market, and considering that manufacturing facilities have already been established in US and the UK plant was imposing huge cost burden on operations closure was only options left.
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EU Must Insist On Making Renewable in Portfolio while Swapping.
August 3, 2009
E.ON and GDF SUEZ Finalise Their Swap of Generation Capacity in Europe | www.oilvoice.com
It is reported that E.On and GDF, both European utilities have swapped generation capacities in Belgium and Germany, respecting commitment to the European Commission to bring down the generating assets in their respective countries with the objective of increasing competition in the integrated markets. While GDF SUEZ is surely to be commended for lowering its carbon footprint, in the deal, while E.On on the other hand face tough questions to answer to the environmentalists.
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Bad Tidings for Wind Power Companies:Suzlon Sees Red Post Blade Breakage
August 3, 2009
Suzlon Declines After Reporting First-Quarter Loss. | www.bloomberg.com
Suzlon Energy has reported a net loss of Rs 462 crore (ninety five dollars) on a consolidated basis (with RE Power's) for the first quarter ended June 30, compared with a Rs 52-crore profit in the corresponding period last year. Suzlon lost sales last year after blades cracked and customers in the U.S. canceled orders. Replacements will be completed in mid-August, two months behind schedule. Volume sales during the quarter were lower, and order are unlikely to improve next quarter.
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Dear President 3 to 6 % RES by 2012 Is Simply Not Our Pioneer Gold Rush
July 26, 2009
RENEWABLE ELECTRICITY STANDARD WON’T CREATE JOBS UNLESS STRENGTHENED | www.awea.org
United States, in comparison to China, India and even South Korea seems to have considerable catching up to do in planning, designing the RES, implementing a much stronger renewable energy program, which would besides meeting the quadrant objectives of capping carbon emissions and pricing carbon; implementing a renewable energy standard and a smart grid; setting energy efficiency standards; funding focused research and development.
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The Final Frontiers:India's Nuclear Renaissance
July 25, 2009
Muddy policy hurdle faces India-U.S. nuclear deal | www.xe.com
As per a Reuters article published in xe.com, Westinghouse, subsidiary of Toshiba Corp., and GE who have a strategic partnership with Hitachi to jointly execute nuclear energy projects worldwide, would need a nod from Tokyo for their reactor business in India. The deal, which could unlock an estimated $27 billion nuclear market in India over the next 15 years, faces hurdles and issues like accident liability protection for U.S. firms.
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Future of Nuclear Power Tariffs:Price Uncertainty of New Generation Reactors
July 24, 2009
Turnkey Nuclear Power Plant EPC Agreements: The Case for Price Certainty | pepei.pennnet.com
As per the author of an article appearing in the Power Engineering International, the new generation nuclear reactors for power plants which are currently under development will hit the markets surely with price uncertainty, considering the changes which may have to be brought in under supervision of the nuclear regulatory commissions as designs get finalized.
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