Gas as a favoured fuel for power generation seems to be gaining ground. Global gas-fired power generation is set to see strong growth noted Frost & Sullivan Analysis.
Gas-fired power generation is expected to grow across all regions of the world as countries increasingly opt for its relatively clean-burning characteristics and flexible operating capabilities, it said.
“While the market will be restrained in the short term, the medium- and long-term prospects for gas-fired power are sound,” the analysis showed. North America and Europe will maintain their lead as the regions with the largest installed gas-fired capacity.
The Frost & Sullivan Analysis ‘Global Prospects for Gas-Fired Power Generation’ finds that global gas-fired power plant orders will total 537 GW through 2020. According to the analysis, a key market driver is the unpopularity of coal in developed regions. This coupled with the extremely low natural gas prices in North America, is leading to the phasing out of old coal-fired plants, which are being replaced by gas-based plants.
Gas-fired power generation is also fuelled by the massive availability of natural gas because of new pipeline schemes such as Nabucco, the expansion of global LNG production led by leading producer Qatar, and the boom in shale gas production, spearheaded by the United States.