Reports related to this article:
Project(s): View 7 related projects in PECWeb
Plant(s): View 4 related plants in PECWeb
Released September 15, 2017 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--In its new International Energy Outlook, the U.S. Energy Information Administration (EIA) forecasts that renewables and nuclear energy are expected to express the dominant growth throughout the world through 2040. While the growth of these non-fossil-fueled industries is expected to be strongest, the agency predicts that in 2040, fossil fuels will still account for 77% of energy consumption, with coal remaining flat while natural gas consumption rises. The agency predicts that by 2040, generation from renewable energy sources will surpass generation from coal on a global basis.
The EIA expects that most new nuclear generation will come from countries not within the Organization for Economic Development (OECD). Non-OECD countries include China and India, with China leading the way in nuclear power development as it seeks to lower carbon emissions from power generation in the country. The report notes that while concerns about cost overruns and opposition from local populations keep nuclear power from expanding in many parts of the world, non-OECD countries continue moving the construction of nuclear power plants forward, led by China's expected addition of 111 gigawatts (GW) of nuclear capacity from 2015 through 2040. Industrial Info is tracking $140 billion of active nuclear power projects in China. The report notes that "Virtually all of the projected net expansion in world installed nuclear power capacity occurs in non-OECD countries."
Unlike nuclear power, the development of renewable energy is much more of a global phenomenon. Renewables are expected to remain the fastest-growing source of power through 2040, with average increases of 2.8% per year from 2015 through 2040. While hydropower is included in this figure, non-hydropower sources such as wind and solar are expected to lead in this charge. According to the report, while non-hydropower sources accounted for 7% of worldwide generation in 2015, this is expected to rise to 15% in 2040, with more than half of this coming from wind power.
Industrial Info is tracking $1.29 trillion in active wind power projects throughout the world. Among the largest of these is Dominion Energy's (NYSE:D) (Richmond, Virginia) planned Hampton Roads offshore windfarm, off the coast of Virginia. As envisioned, the project would have an estimated generating capacity of 2,000 megawatts (MW). Dominion recently partnered with DONG Energy A/S (Fredericia, Denmark) in the construction of a 12-megawatt pilot-scale project to test the viability of the larger project. For more information see, July 12, 2017, article - Dominion Partners with Denmark's DONG Energy for U.S. Offshore Wind Pilot Project and Industrial Info's project reports on the pilot project and planned full-scale project, which has an estimated total investment value of $6 billion.
Natural gas is the fastest-growing fossil fuel in the EIA's projections through 2040, with consumption increasing by 1.4% a year during this time. The agency estimates that worldwide consumption of natural gas will increase from 124 trillion cubic feet (Tcf) in 2015 to 177 Tcf in 2040, with the world's natural gas producers increasing supplies by a hefty 42% from 2015 through 2040. "World LNG [liquefied natural gas] trade nearly triples, from about 12 Tcf in 2015 to around 31 Tcf in 2040," says the report. "Most of the near-term increase in liquefaction occurs in Australia and North America, where a number of new liquefaction projects are planned or under construction, many of which will become operational within the next decade. U.S. LNG exports are projected to increase significantly over the projection period and to account for more than 60% of total U.S. natural gas exports in 2040."
At the moment, Cheniere Energy Incorporated's (NYSE:LNG) Sabine Pass LNG export facility remains the sole exporter of LNG from the U.S. Industrial Info is tracking $250 billion of LNG projects in the U.S., including Cheniere's liquefaction plant in Corpus Christi, Texas. Construction of Train 1 began in 2015 and is expected to be completed in the third quarter of 2018. The train will produce 4.5 million tons per year of LNG. A second 4.5 million-ton-per-year train began construction in 2015 and is expected to be completed in 2019. Train 3 of the facility is fully permitted and is expected to begin construction this year. For more information, see Industrial Info's project reports on Train 1, Train 2 and Train 3 of the facility.
Natural gas pipeline exports to Mexico from the U.S. also remain strong. "Mexican pipeline imports from the United States have more than quadrupled since 2009, and they are expected to continue to increase over the next several years," says the EIA's report. Among the largest natural gas pipeline projects from the U.S. to Mexico is TransCanada Corporation's (NYSE:TRP) (Calgary, Alberta) Sur de Texas subsea pipeline, running from the Matamoros compressor station on the U.S. border to Tuxpan, Mexico. The pipeline will transport up to 2.6 billion cubic feet per day of natural gas, which from there, will join the planned Tuxpan-Tula pipeline. For more information, see Industrial Info's project reports on the Sur de Texas pipeline and the Tuxpan-Tula pipeline.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
The EIA expects that most new nuclear generation will come from countries not within the Organization for Economic Development (OECD). Non-OECD countries include China and India, with China leading the way in nuclear power development as it seeks to lower carbon emissions from power generation in the country. The report notes that while concerns about cost overruns and opposition from local populations keep nuclear power from expanding in many parts of the world, non-OECD countries continue moving the construction of nuclear power plants forward, led by China's expected addition of 111 gigawatts (GW) of nuclear capacity from 2015 through 2040. Industrial Info is tracking $140 billion of active nuclear power projects in China. The report notes that "Virtually all of the projected net expansion in world installed nuclear power capacity occurs in non-OECD countries."
Unlike nuclear power, the development of renewable energy is much more of a global phenomenon. Renewables are expected to remain the fastest-growing source of power through 2040, with average increases of 2.8% per year from 2015 through 2040. While hydropower is included in this figure, non-hydropower sources such as wind and solar are expected to lead in this charge. According to the report, while non-hydropower sources accounted for 7% of worldwide generation in 2015, this is expected to rise to 15% in 2040, with more than half of this coming from wind power.
Industrial Info is tracking $1.29 trillion in active wind power projects throughout the world. Among the largest of these is Dominion Energy's (NYSE:D) (Richmond, Virginia) planned Hampton Roads offshore windfarm, off the coast of Virginia. As envisioned, the project would have an estimated generating capacity of 2,000 megawatts (MW). Dominion recently partnered with DONG Energy A/S (Fredericia, Denmark) in the construction of a 12-megawatt pilot-scale project to test the viability of the larger project. For more information see, July 12, 2017, article - Dominion Partners with Denmark's DONG Energy for U.S. Offshore Wind Pilot Project and Industrial Info's project reports on the pilot project and planned full-scale project, which has an estimated total investment value of $6 billion.
Natural gas is the fastest-growing fossil fuel in the EIA's projections through 2040, with consumption increasing by 1.4% a year during this time. The agency estimates that worldwide consumption of natural gas will increase from 124 trillion cubic feet (Tcf) in 2015 to 177 Tcf in 2040, with the world's natural gas producers increasing supplies by a hefty 42% from 2015 through 2040. "World LNG [liquefied natural gas] trade nearly triples, from about 12 Tcf in 2015 to around 31 Tcf in 2040," says the report. "Most of the near-term increase in liquefaction occurs in Australia and North America, where a number of new liquefaction projects are planned or under construction, many of which will become operational within the next decade. U.S. LNG exports are projected to increase significantly over the projection period and to account for more than 60% of total U.S. natural gas exports in 2040."
At the moment, Cheniere Energy Incorporated's (NYSE:LNG) Sabine Pass LNG export facility remains the sole exporter of LNG from the U.S. Industrial Info is tracking $250 billion of LNG projects in the U.S., including Cheniere's liquefaction plant in Corpus Christi, Texas. Construction of Train 1 began in 2015 and is expected to be completed in the third quarter of 2018. The train will produce 4.5 million tons per year of LNG. A second 4.5 million-ton-per-year train began construction in 2015 and is expected to be completed in 2019. Train 3 of the facility is fully permitted and is expected to begin construction this year. For more information, see Industrial Info's project reports on Train 1, Train 2 and Train 3 of the facility.
Natural gas pipeline exports to Mexico from the U.S. also remain strong. "Mexican pipeline imports from the United States have more than quadrupled since 2009, and they are expected to continue to increase over the next several years," says the EIA's report. Among the largest natural gas pipeline projects from the U.S. to Mexico is TransCanada Corporation's (NYSE:TRP) (Calgary, Alberta) Sur de Texas subsea pipeline, running from the Matamoros compressor station on the U.S. border to Tuxpan, Mexico. The pipeline will transport up to 2.6 billion cubic feet per day of natural gas, which from there, will join the planned Tuxpan-Tula pipeline. For more information, see Industrial Info's project reports on the Sur de Texas pipeline and the Tuxpan-Tula pipeline.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
