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  • XOM Invested Heavily Into Natural Gas: Gas Turbine Growth and Power Generation

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    Gas turbine orders are expected to increase 50% over the next 5 years, boosting natural gas power generation to about a quarter of new capacity additions. ExxonMobil forecasts an 85% rise in gas used for power from 2005-2030, increasing its share of global generation from 22% to 27%. Siemens' CEO is bullish on U.S. gas power due to cheap gas and a third of coal plants closing over 15 years for environmental reasons, with replacements likely using gas turbines that Siemens supplies.

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    Gas turbine orders are expected to increase 50% over the next 5 years, boosting natural gas power generation to about a quarter of new capacity additions. ExxonMobil forecasts an 85% rise in gas used for power from 2005-2030, increasing its share of global generation from 22% to 27%. Siemens' CEO is bullish on U.S. gas power due to cheap gas and a third of coal plants closing over 15 years for environmental reasons, with replacements likely using gas turbines that Siemens supplies.

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    XOM Invested Heavily Into Natural Gas: Gas Turbine Growth and Power Generation

    Uploaded by

    abhishek_4
    Gas turbine orders are expected to increase 50% over the next 5 years, boosting natural gas power generation to about a quarter of new capacity additions. ExxonMobil forecasts an 85% rise in gas used for power from 2005-2030, increasing its share of global generation from 22% to 27%. Siemens' CEO is bullish on U.S. gas power due to cheap gas and a third of coal plants closing over 15 years for environmental reasons, with replacements likely using gas turbines that Siemens supplies.

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    Gas Turbine Growth and Power Generation Credit Suisse, for one, expects gas power plants to make

    up about a quarter of all power generation capacity additions in the next five years. It believes this will boost gas turbine orders by 50 percent to about 63,000 megawatts. That increase will be especially welcome, after it dropped 34 percent in 2008 to 2010. Yet ExxonMobil (NYSE: XOM) invested heavily into natural gas for the past year or so. The company forecasts power plants using an extra 85 percent gas from 2005 to 2030. That would up the commodity from 22 percent of the global power generation mix to 27 percent. In the United States specifically, Siemens CEO Peter Loscher says he is bullish on gas. He partially attributes that to the countrys regulatory climate. Loscher notes that over the next 10 to 15 years, a third of U.S. coal-fired power plants will close due to environmental restrictions. And any replacing facilities will likely be powered bycheap natural gas. Siemens says it supplied all of the 20 or so turbines most recently sold in the United States. Its currently building a plant to manufacture more in Charlotte, N.C.

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