Page 13 - AsiaElec Week 21

AsiaElec
NEWS IN BRIEF
AsiaElec
cited above.
India’s peak electricity demand came
down with commercial and industrial power demand taking a hit after many factories shut down. However, domestic consumption, which generates comparatively lower tariffs, went up. Of India’s total electricity demand load pattern, industrial and agricultural consumption accounts for 41.16% and 17.69%, respectively. Commercial electricity consumption accounts for 8.24% of demand.
According to Paris-based International Energy Agency (IEA), India’ 40-day long national lockdown resulted in a 30% reduction in the country’s energy demand.
GAS-FIRED GENERATION
Senex and CleanCo
Queensland sign new gas
sales agreement
Senex Energy today announced it had agreed a further domestic gas sales agreement with power generator CleanCo Queensland for 2.55 petajoules (PJ) of natural gas.
Under the one-year agreement, Senex will supply CleanCo with 2.55 PJ of natural gas from Atlas, commencing 1 January 2021. Gas will be supplied at the Wallumbilla Gas Hub in Queensland at a fixed price in line with current market levels.
CleanCo is the new Queensland Government-owned corporation focused
on delivering affordable and reliable clean energy. Atlas gas will fuel Swanbank E, CleanCo’s highly efficient 385 MW gas-fired power station near Ipswich in south-east Queensland. Initial gas sales to CleanCo – the first from dedicated domestic gas acreage in Australia – have been made since December
2019.
Senex has contracted more than 35
PJ of natural gas from Atlas (including potential contract volume expansions and term extensions). Atlas gas production for calendar year 2020 is fully contracted and 2021 expected production is more than 70% contracted.
Senex has drilled 39 wells of the 50-well Atlas campaign, with Atlas gas production continuing to perform strongly at 14 TJ/day.
Total daily Surat Basin gas production is above 32 TJ and continues to increase towards initial nameplate capacity of 48 TJ/day (about 18 PJ/ year).
SENEX ENERGY
COAL
China’s Zhengzhou
exchange seeks feedback
on thermal coal options
China’s Zhengzhou Commodity Exchange said in a statement on May 25 that it was seeking public opinion for its thermal coal options contract, Reuters reported.
The Zhengzhou exchange listed some specifications for the contract, but did not say when it would be launched.
The Zhengzhou exchange currently has five options contracts for its products: white sugar, cotton, purified terephthalic acid, methanol and rapeseed meal, which was launched in mid-January.
In commodity derivatives trading, options give the buyer the right, but not obligation, to buy or sell a futures position at a specified price.
HYDRO
China, Pakistan to build
dam in disputed Kashmir
region
PAKISTAN has awarded a multi-billion dollar contract to a Chinese-Pakistani joint venture to build a dam in the long-disputed Kashmir region.
The dam is China’s first major infrastructure project in Kashmir, and part of the China-Pakistan Economic Corridor (CPEC), which is tied to China’s massive Belt and Road Initiative.
According to a Nikkei Asian Review (NAR) report, the initial phase of the Diamer Bhasha dam project, worth US$2.75 billion, has been awarded to a joint venture between Power Construction Corporation of China and the Pakistan Army’s Frontier Works Organisation on a 70:30 basis.
Pakistan’s Water and Power Development Authority chairman Muzammil Hussain put the total cost of the project at US$8.77 billion.
The figure is contentious however, since Hussain previously estimated the cost at about US$14 billion on various occasions.
It is located in Gilgit-Baltistan, a northerly region 320km from the border with China.
The multipurpose dam will be used for power generation, water storage and flood control. It will have a 4,500MW capacity.
In 2018, China installed an 820km fibre optic cable under CPEC that passed through the same region.
RENEWABLES
ONGC, NTPC sign MOU on renewable JV
Oil and Natural Gas Corporation Limited (ONGC) and NTPC ltd are planning to set up a Joint Venture Company for Renewable Energy business. The two Maharatnas entered into a Memorandum of Understanding (MoU) on 21 May 2020 in Delhi to formalize this arrangement. The MoU will enable
both companies to achieve their targets in Renewable Energy business.
The MOU was signed by ONGC
Director (Finance) and In-charge Business Development and Joint Ventures Mr. Subhash Kumar and Director (Commercial) NTPC, Mr. A K Gupta. ONGC CMD Mr. Shashi Shanker and NTPC CMD Mr. Gurdeep Singh (on Virtual conferencing) along with the Directors of two public enterprises witnessed
Week 21 27•May•2020
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