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Producción y mercados energéticos 04/10/18

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Latest Energy News 04 October 2018
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Virginia (US) targets 2 GW of installed offshore wind capacity by 2028

The Virginian government (United States) has released the 2018 Virginia Energy Plan, which provides recommendations and a strategic vision for the state’s energy policy over the next 10-year period. The government aims at developing 3,000 MW of onshore wind and solar PV capacity by 2022 and 2,000 MW of offshore wind online by 2028.

Besides, Virginian utilities are invited to collectively invest US$115m/year in energy efficiency programmes, with a focus on modernising the power grid and promoting the development of innovative technologies.

The plans also include expanding Virginia’s existing solar and wind programmes, developing new solar purchase options for corporate customers and small businesses, increasing energy efficiency financing opportunities, establishing electric vehicle targets, and working with stakeholders to evaluate energy storage options. Where Virginia’s state agencies are concerned, the Virginia Energy Plan proposes a 16% renewable procurement target and a 20% energy efficiency target.

Companies

EU Commission clears QP’s acquisition of ExxonMobil assets in Argentina

The European Commission (EC) has approved the proposed acquisition by Qatar Petroleum (QP) of joint control over ExxonMobil’s Argentinian subsidiaries ExxonMobil Exploration Argentina and Mobil Argentina, considering that the acquisition would have no impacts on competition in the European Economic Area.

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Energy Markets

Australian LNG producers ready to counter domestic supply shortages

Australian east coast LNG producers Gladstone LNG (GLNG), Australia Pacific LNG (APLNG) and Queensland Curtis LNG (QCLNG) have extended their agreement with the Federal Government to maintain a secure supply of gas to the east coast domestic market until 2020.

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Forecasts

Spain’s power TSO Red Eléctrica plans to invest €7bn in 2020-2025

The Spanish power transmission network operator Red Eléctrica de España (REE) plans to invest €7bn in transport infrastructure between 2020 and 2025 in order to adapt these networks to the latest energy transition requirements. This is nearly twice the amount invested in power grids in recent years.

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Australia expects domestic resources exports to hit record in 2018-2019

According to the Resources 2030 Taskforce of the Ministry for Resources and Northern Australia, domestic natural resources sector can remain globally competitive and sustainable over the decades to come. In 2016–2017, thermal coal, natural gas, and crude oil were among Australia’s top 10 exports. Besides,…

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Infrastructure & Investments

New 600 MW wind park project unveiled in Surkhandarya (Uzbekistan)

Turkish energy company ETKA Co. Enerji plans to build a new 600 MW wind park project in the city of Surkhandarya (also labelled as Surhanderya) in southern Uzbekistan. The construction of the US$500m project is expected to be completed by 2020. The company will first study the viability of the project, which will be built in a mountainous region with potential for wind parks.

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LNG Canada partners make FID on 13 Mt/year LNG export project (Canada)

Global oil and gas company Shell and its partners Petrochina, Mitsubishi and Kogas have taken a final investment decision (FID) to build the US$31bn LNG Canada export project in Kitimat, British Columbia, in Canada. Construction will start immediately and the project is expected to be completed before the middle of the next decade.

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UMPL picks GE to develop 600 MW CCGT project in Bangladesh

Unique Group has awarded General Electric (GE) Power a US$350m order to supply one 9HA.01 gas turbine, one heat recovery steam generator, one steam turbine generator, condenser and associated systems for the 600 MW Meghnaghat combined cycle power plant located near Dhaka, in Bangladesh.

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