RIYADH: While Germany’s gas imports slipped between January and March 2022, costs during the same period surged drastically when compared to 2021. On a micro level, the UK’s Shell Plc announced advancing the major Crux gas field off Australia. The UK’s Britishvolt is also investing in a pilot plant near Birmingham. Meanwhile, Japan’s Jera Co. and IHI Corp. are propelling a power project to replace some coal with ammonia.
Looking at the bigger picture:
· Germany’s gas imports slipped 22.2 percent during the first quarter of 2022 when compared to the corresponding period in 2021. On the other hand, the costs associated with gas jumped 158 percent from a year ago during the same period as prices rallied, Reuters reported, citing official data from trade office BAFA.
Through a micro lens:
· Britain’s publicly traded multinational oil and gas company Shell Plc has announced that it will proceed with the Crux gas field off Australia with an accumulated worth of $2.5 billion, Reuters reported. The project’s construction phase is expected to commence in 2023 with the first gas output anticipated to roll out by 2027.
· UK-based battery manufacturing firm Britishvolt Ltd. has allocated over £200 million ($253 million) for the development of a pilot facility near Birmingham, Bloomberg reported. The plant, which is expected to start rolling out battery output toward the end of 2023, aims to support the firm’s anticipated £2.6 billion facility in Northumberland in 2024.
· Japan-based biggest electricity generator Jera Co. and Japanese machine industry firm IHI Corp. are planning to commence a demonstration project to co-fire a unit at its coal power plant, Hekinan Thermal Power Station. with 20 percent fuel ammonia by March 2024, one year ahead of schedule, Bloomberg reported. This comes as the firms have installed the burners, tanks, pipes, among other equipment earlier than expected.
