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Japan’s Goi No.1 CCGT starts commercial operations

  • Market: Electricity, Natural gas
  • 01/08/24

Japanese joint venture Goi United Generation started commercial operations today of the 780MW No.1 combined-cycle gas turbine (CCGT) unit, with construction having begun in April 2021.

The joint venture comprises Japan's largest power producer by capacity Jera, the power arm of refiner Eneos and regional utility Kyushu Electric Power with a shareholding ratio of 9:5:1 respectively.

The new 1,650°C-class Goi CCGT unit can achieve around 64pc thermal efficiency on a lower calorific value basis, with the best available thermal technology helping cap carbon dioxide emissions. This is part of the development of the proposed 2,340MW Goi CCGT plant, which is to replace the 1,886MW conventional gas-fired power plant that was decommissioned in March 2018. The 780MW No.2 and No.3 CCGT units are scheduled to begin operations in November and March 2025 respectively.

LNG use at Goi is expected to increase to 2.2mn t/yr from the previous 1.9mn t/yr following the plant's completion, according to the environmental impact assessment for the plant replacement.


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01/08/24

Shell's 2Q profit beats expectations, but lower than 1Q

Shell's 2Q profit beats expectations, but lower than 1Q

London, 1 August (Argus) — Shell's second-quarter results came in ahead of analysts' expectations today despite poorer performances across its business when compared with the first three months of the year. Shell's of $3.52bn was less than half the $7.36bn it reported for the January-March period, reflecting lower production and refining margins and a poorer environment for trading LNG, crude and oil products. But profit was up by 12pc on the year. Adjusted for inventory valuation effects and one-off items, profit was $6.29bn, up by 24pc on a year earlier and slightly ahead of the consensus of analyst estimates for $6bn. Oil and gas production during the quarter was 3pc lower than in the first three months of the year, averaging 2.82mn b/d of oil equivalent (boe/d). This was greater than the 2.73mn boe/d it reported for second-quarter 2023. Shell's guidance for its production in the third quarter is 2.5mn-2.76mn boe/d, reflecting greater scheduled maintenance across its portfolio. LNG production within Shell's Integrated Gas business during the quarter was 6.95mn t, 8pc lower than the prior quarter and down on the 7.17mn t produced in second-quarter 2023. LNG sales fell by 3pc from the first quarter, to 16.41mn t. These declines, along with a lower contribution from the segment's trading operation and lower realised prices, helped drive the Integrated Gas business' profit down by 11pc between the first and second quarters to $2.45bn. This was much improved on the $757mn a year earlier. Shell's Upstream business performed solidly, with its segmental profit for April-June down by 4pc on the first quarter at $2.18bn and well ahead of the $1.6bn reported for the second quarter last year. Currency movements and a tax settlement in Brazil played their part in the quarter-to-quarter profit decline, as did the 3pc fall in oil and gas production. As flagged by Shell in its trading statement earlier this month its Chemicals and Products segment took a $637mn hit due to lower products margins during the quarter, contributing to a 49pc quarter-on-quarter decline in this business' profit to $587mn. This was mainly driven lower refining margins, partly caused by increased supply in the oil products market. The Chemicals and Products business took an impairment from $708mn of write-downs, mainly related to assets in Singapore that it agreed to sell in May. Shell's cash flow from operations in the second quarter improved on the first by 1pc to $13.5bn. The company maintained its dividend for the second quarter at 34.4¢/share, and said announced $3.5bn of share buybacks to follow a $3.5bn buyback programme it has completed since its first quarter results announcement. By Jon Mainwaring Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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US Fed holds rate, signals possible September cut


31/07/24
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31/07/24

US Fed holds rate, signals possible September cut

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APLNG gas output rebounds in 2023-24: Origin


31/07/24
News
31/07/24

APLNG gas output rebounds in 2023-24: Origin

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India's Chhara LNG terminal again delays commissioning


30/07/24
News
30/07/24

India's Chhara LNG terminal again delays commissioning

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Marine biodiesel demand slips in Rotterdam 2Q sales


30/07/24
News
30/07/24

Marine biodiesel demand slips in Rotterdam 2Q sales

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