REPORT SCOPE
INTRODUCTION
STUDY GOALS AND OBJECTIVES
This study provides a comprehensive analysis of the market for natural gas–fired electricity generation on a global basis. Its aim is to provide a range of information, from detailed regional analyses to overall industry trends, in order to quantify and forecast markets for electricity generation. Various types of electricity generation are forecast on a global basis. Forecasts and trends are predicted based on a cross-reference of data points gleaned from government, industry, and other data sources to arrive at a cogent and coordinated forecast.
REASONS FOR DOING THE STUDY
The global market for natural gas–fired electricity generation is large and growing at a relatively high rate. The market is also extremely complicated in terms of technology, policies and regulations, and economics. This report measures and analyzes different geographic and technology markets in order to help readers identify the regions and technologies where they can find the most promising opportunities.
The report also seeks to address changing market dynamics in the industry, emerging geographies, and types of technologies that are forecast to grow in each region. This study also provides insight into the market structure in each region. Such insight helps companies to identify global markets that are ripe for opportunity and those where entry or competition will be particularly difficult.
SCOPE OF REPORT
This report presents an analysis of current and historical installed capacity of electricity generation in key regions in the world. The analysis is organized by technology type, and data are presented for 2010, 2011, and 2012, with forecasts to 2017.
This report also presents forecasts for the size and growth of the electricity generation market in each country and region of the world. The report includes an analysis of the major industry structure of each market by geography. This analysis includes the levels of privatization versus public ownership of the electricity generation industry in a given market. It also covers the ways in which the markets function and the level of competition present. Relevant regulatory organizations, controls, and issues are also discussed.
Important government policies are presented as they relate to electricity generation and the industry in each country and region. The projected effects of these policies on the forecasts for electricity generation in each country and region are discussed. International agreements and regional cooperation are important to the electricity generating industries of many countries in the world, and these aspects are also discussed where they are relevant.
Industry trends in each technology market are presented. The discussion of industry trends supplements the market forecasts by giving the reader of sense of what drives each forecast. The study also provides a competitive analysis of the major firms involved in electricity generation around the globe. The firms that are analyzed include the major companies that are active in the major markets covered in the report. These companies include independent power producers, electric utilities with generation businesses for their own consumption or for sale on the wholesale market, and integrated utility companies that have a strong presence in the electricity generation industry.
Market figures are based on total installed capital cost of generation and are projected at 2012 dollar value. Inflation is not computed into the projection figures.
INTENDED AUDIENCE
This report is an invaluable tool for business planners, acquisitions specialists, licensing strategists, product managers, market research analysts, investors, investor consultants, and anyone interested in the global electricity generation market, the industry’s structure, and industry participants across the globe.
The identification given in this report of overall market trends, product opportunities, emerging geographies, mergers and acquisitions (M&A) opportunities, and insights that provide guidance for sales growth or defensive moves is of utmost importance for a variety of constituents:
Established companies in the industry will benefit from the contents of the report with regard to corporate strategy, sales and marketing, business development, and research and development (R&D).
Emerging energy technology players in the industry must understand specific market dynamics in the nations and regions that are presented in the report. They must also understand trends and how they relate to the future of global electricity generation.
Investment firms evaluating candidates for venture capital or hedged investments will gain insights into the opportunities and risks that are being encountered in different industries across the globe. This report will enable them to have an understanding of opportunities for investments in the global energy-generation sector.
Equity analysts are provided detailed forecasts for the next five years, substantiated by quantitative analysis that can support further product and regional forecasts over the short and long run.
METHODOLOGY AND INFORMATION SOURCES
Both primary and secondary research methodologies were used in preparing this study. An analysis of global electricity industry generation statistics was conducted in order to create the forecasts presented here. Forecasts of generation capacity in each country and region were acquired from a number of sources. The primary sources for this data were the U.S. Energy Information Administration’s (EIA) International Energy Outlook 2011 and the BP Statistical Review of World Energy June 2011. This data was supplemented and updated with data found in press releases, news articles, industry association analyses, and data published by specific companies analyzed in this report.
The primary source of capital and operating cost data for the market forecasts was the EIA’s “Updated Capital Cost Estimates for Electricity Generating Plants,” published in November 2011. These data were supplemented with analyst estimates based on experience in the electricity generating industries.
Forecasts of market size in each year were made by multiplying the amount of generating capacity expected to be installed in a particular market in a particular year by the capital cost per unit of that technology. This provides a general high-level estimate of market size by technology and by country or region. The additional assumptions that go into the capital cost estimates for each technology are explained further in the Technologies chapter of this report.
The primary sources of data on each company analyzed and profiled include articles published by industry analysts as well as data available on company websites and in annual reports.
Units:
1 metric tonne = 2204.62lb.
1 kilolitre = 6.2898 barrels
1 kilolitre = 1 cubic meter
1 kilocalorie (kcal) = 4.187 kilojoule (kJ) = 3.968 British thermal units (Btu)
1 kilojoule (kJ) = 0.239 kcal = 0.948 Btu
1 Btu = 0.252 kcal = 1.055 kJ
1 kilowatt-hour (kWh) = 860 kcal = 3600 kJ = 3412 Btu
Tonnes are used for market consumption data. Tonnes are defined as the metric equivalent of tons.
ANALYST CREDENTIALS
Stephanie Denarie earned a bachelor’s degree in environmental studies from Brown University and has completed coursework in corporate finance at the University of California at Berkeley and San Francisco State University.
Ms. Denarie has intensive experience in energy transmission modeling and financial management, and has consulted for groups as diverse as Optimum Energy, LLC, the states of Utah and California, the National Renewable Energy Laboratory (NREL), and Black & Veatch Corp.. Stephanie has developed several economic models and software tools to forecast price and economic competitiveness for energy projects, most especially for local renewable energy resources in diverse renewable energy markets.
Global Electric Power Energy Industry
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION 1
STUDY GOALS AND OBJECTIVES 1
REASONS FOR DOING THE STUDY 1
SCOPE OF REPORT 1
INTENDED AUDIENCE 2
METHODOLOGY AND INFORMATION SOURCES 3
ANALYST CREDENTIALS 4
RELATED REPORTS 4
BCC ON-LINE SERVICES 5
DISCLAIMER 5
CHAPTER TWO: SUMMARY 6
SUMMARY TABLE GLOBAL MARKET FOR NATURAL GAS–FIRED
ELECTRICITY GENERATION BY REGION, THROUGH 2017 ($
MILLIONS) 6
SUMMARY FIGURE GLOBAL MARKET FOR NATURAL GAS–FIRED
ELECTRICITY GENERATION BY REGION, 2010-2017 ($ MILLIONS) 7
SUMMARY (CONTINUED) 8
CHAPTER THREE: OVERVIEW 9
OVERVIEW 9
NATURAL GAS INDUSTRY VALUE CHAIN 10
TECHNOLOGY AND SYSTEMS 10
ELECTRICITY GENERATING REQUIREMENTS 11
CAPITAL COSTS 11
LEVELIZED COST OF ENERGY 12
ELECTRICITY GENERATING TECHNOLOGIES 12
LIFE CYCLE AND THE NATURE OF POWER SECTOR
INVESTMENTS 13
IMPORTANCE OF THE INDUSTRY 13
IMPACT OF DIFFERENT FUEL TYPES ON NATURAL GAS 14
GOVERNMENT REGULATIONS IMPACTING NATURAL GAS
POWER GENERATION 14
EFFECT ON THE FUTURE 14
NATURAL GAS–ENABLED UTILITY-SCALE ELECTRICITY
STORAGE (UES) TECHNOLOGIES 15
COSTS AND ECONOMIC VIABILITY 16
PUMPED HYDROLOGIC STORAGE 16
Pumped Hydrologic Storage (Continued) 17
COMPRESSED AIR ENERGY STORAGE 18
BENEFITS OF UTILITY-SCALE ELECTRICITY STORAGE
TECHNOLOGIES FOR NATURAL GAS ENERGY PRODUCTION 19
GRID BENEFITS 19
Load Leveling 19
Capacity Factor/Dispatch for Intermittent Renewables 20
Peaking Power Support 21
OFFSET OF NEEDED PEAKING POWER GENERATION
CAPACITY 22
OFFSET OF NEEDED RENEWABLE GENERATION
CAPACITY 23
ECONOMIC BENEFITS 23
Energy Arbitrage 24
Investment Deferral 24
RENEWABLE ENERGY DISPATCH AND TIMING BENEFITS 24
CARBON CAPTURE AND STORAGE 25
Carbon Capture and Storage (Continued) 26
Carbon Capture and Storage (Continued) 27
CHAPTER FOUR: TECHNOLOGIES 28
INTRODUCTION 28
OVERVIEW 28
TABLE 1 COST OF ELECTRICITY GENERATION BY TECHNOLOGY,
2011 29
NATURAL GAS–FIRED STEAM TURBINES 29
SUMMARY 29
FIGURE 1 SCHEMATIC OF NATURAL GAS–FIRED STEAM TURBINE 30
Current Trends 30
Key Players 31
Drivers for Natural Gas–Fired Steam Turbines 31
Drawbacks to Natural Gas–Fired Steam Turbines 31
Economics 31
GAS TURBINES 32
SUMMARY 32
FIGURE 2 SCHEMATIC OF GAS TURBINE 32
Current Trends 33
Ordered Capacity for Open Cycle Systems 33
Middle East and Africa 33
TABLE 2 CAPITAL COST COMPONENTS OF SIMPLE AND
COMBINED CYCLE NATURAL GAS TECHNOLOGIES; GLOBAL IN
2011 DOLLARS ($) 34
TABLE 3 CAPITAL COST FORECAST FOR SIMPLE AND COMBINED
CYCLE NATURAL GAS TECHNOLOGIES; GLOBAL IN 2011
DOLLARS, THROUGH 2017 ($) 34
TABLE 4 VOLUME OF ORDERS PLACED FOR OPEN CYCLE
SYSTEMS BY AFRICA AND THE MIDDLE EAST, 2009 TO 2010
(UNITS & MW) 34
TABLE 4 (CONTINUED) 35
Europe 35
TABLE 5 VOLUME OF ORDERS PLACED FOR OPEN CYCLE
SYSTEMS IN EUROPE, IN 2009 TO 2010 (UNITS AND MW) 35
North America 36
TABLE 6 VOLUME OF ORDERS PLACED FOR OPEN CYCLE
SYSTEMS IN NORTH AMERICA, 2009 TO 2010 (UNITS AND MW) 36
Central and South America 36
TABLE 7 VOLUME OF ORDERS PLACED FOR OPEN CYCLE
SYSTEMS IN SOUTH AND CENTRAL AMERICA, 2009 TO 2010
(UNITS AND MW) 36
Asia-Pacific 37
TABLE 8 VOLUME OF ORDERS PLACED FOR OPEN CYCLE
SYSTEMS IN ASIA-PACIFIC, IN 2009 TO 2010 (UNITS AND MW) 37
Key Players 37
Drivers for Natural Gas Turbines 38
Resistors for Natural Gas Turbines 38
Technological Developments 38
Economics 39
Outlook for Open Cycle Systems 39
NATURAL GAS COMBINED CYCLE 39
SUMMARY 39
FIGURE 3 SCHEMATIC NGCC PLANT 40
Current Trends 40
FIGURE 4 INSTALLATIONS IN THE U S , 2000—2010 41
TABLE 9 REPRESENTATIVE NATURAL GAS COMBINED CYCLE
PLANT INSTALLATION (MW) 42
Ordered Capacity for Natural Gas Combined Cycle
Systems 42
Europe 42
TABLE 10 VOLUME OF ORDERS FOR NATURAL GAS COMBINED
CYCLE PLANTS BY EUROPE, 2009 TO 2010 (UNITS AND MW) 43
Africa and the Middle East 43
TABLE 11 VOLUME OF ORDERS FOR NATURAL GAS COMBINED
CYCLE PLANTS BY AFRICA AND THE MIDDLE EAST, 2009 TO
2010 (UNITS AND MW) 44
Asia-Pacific 44
North America 44
TABLE 12 VOLUME OF ORDERS FOR NATURAL GAS COMBINED
CYCLE PLANTS BY NORTH AMERICA, 2009 TO 2010 (UNITS AND
MW) 45
Key Players 45
TABLE 13 REPRESENTATIVE PLAYERS FOR NATURAL GAS
COMBINED CYCLE SYSTEMS 45
Drivers for Natural Gas Combined Cycle Plants 46
Highest Efficiency among Other Natural Gas–
Based Power Generation Technologies 46
TABLE 14 EFFICIENCY BY GAS-FIRED TECHNOLOGY, 2010 (%) 46
FIGURE 5 SPECTRUM OF NATURAL GAS–FIRED TECHNOLOGY
EFFICIENCIES, 2010 (%) 47
Low-Cost Electricity Generation 47
TABLE 15 COST OF ELECTRICITY GENERATION BY TECHNOLOGY,
2011 48
Cleanest Natural Gas–Based Power Generation
Technology 48
TABLE 16 EMISSIONS BY TECHNOLOGY, 2011 48
Drawbacks of Natural Gas Combined Cycle Plants 48
High Installation Cost 48
Technological Developments 49
TABLE 17 TOP THREE MANUFACTURERS DEVELOPING HIGHFIRING-
TEMPERATURE GAS TURBINES 50
Economics 50
Outlook for Natural Gas Combined Cycle 50
NATURAL GAS FUEL CELLS 51
SUMMARY 51
FIGURE 6 SCHEMATIC OF NATURAL GAS FUEL CELL 51
Fuel Cell Technologies 51
Alkaline Fuel Cell 52
Direct Methanol Fuel Cell 52
Phosphoric Acid Fuel Cell (PAFC) 52
Proton-Exchange Membrane (PEM) Fuel Cell 52
Molten Carbonate Fuel Cell (MCFC) 53
Solid Electrolyte Fuel Cell (SOFC) 53
TABLE 18 TYPES OF FUEL CELL TECHNOLOGIES 54
Current Scenario for Natural Gas Fuel Cells 54
TABLE 19 GLOBAL FUEL CELL INSTALLATIONS BY APPLICATION,
2010 (%) 55
Key Players 55
TABLE 20 TOP MARKET PARTICIPANTS IN NATURAL GAS FUEL
CELL TECHNOLOGY 56
Drivers of the Natural Gas Fuel Cell 56
Cleanest Among All Other Natural Gas–Based
Electricity Generation Technologies 56
TABLE 21 EMISSIONS BY TECHNOLOGIES (LB /MWH) 57
Natural Gas Fuel Cell Technology Offers High
Electricity Efficiency 57
TABLE 22 EFFICIENCY BY TECHNOLOGIES, 2010 (%) 57
FIGURE 7 EFFICIENCY BY TECHNOLOGIES, 2010 (%) 58
Natural Gas Fuel Cell Technology Is Highly
Suitable for Distributed and Backup Power
Generation 58
Drawbacks of Natural Gas Fuel Cells 59
High Installation Costs 59
Future Prospects for Fuel Cells Lean towards
Nonstationary Power Generation 59
Economics 60
Outlook for Fuel Cells 60
CHAPTER FIVE: INDUSTRY STRUCTURE 61
SUMMARY 61
DRIVING FORCES IN THE INDUSTRY 61
DRIVERS OF DEMAND 61
Households 62
Commercial Sector 62
Industrial 62
REVENUE VOLATILITY 63
SUCCESS FACTORS THAT REALIZE GAINS AND MINIMIZE RISK 63
ABILITY TO PASS ON COST INCREASES 63
SUPERIOR FINANCIAL MANAGEMENT AND DEBT
MANAGEMENT 63
ABILITY TO NEGOTIATE SUCCESSFULLY WITH
REGULATORS 63
OPTIMUM CAPACITY UTILIZATION 64
COST BENCHMARKS: U S MARKETS 64
PROFIT 64
Purchases 64
Wages and Other 64
GOVERNMENT REGULATIONS AND POLICIES: U S FOCUS 65
GOVERNMENT REGULATIONS AND … (CONTINUED) 66
RATE REGULATION 67
DEVELOPMENT PRIORITIES 68
ENVIRONMENTAL REGULATIONS 69
ELECTRICITY MARKET STRUCTURE 69
Privatization 70
Competition 70
FUEL PRICES 71
STRATEGIES FOR STAYING COMPETITIVE 72
LEVERAGING INDUSTRY ASSISTANCE 72
MANAGING GOVERNMENT REGULATIONS AND
DEVELOPMENT PRIORITIES 72
Managing Competitive Markets 72
SHIFTS IN THE INDUSTRY 73
IMPACT OF OTHER INDUSTRIES 74
FUELS 74
BASIS OF COMPETITION 74
BARRIERS TO ENTRY 75
BARRIERS TO ENTRY (CONTINUED) 76
CHAPTER SIX: GLOBAL MARKETS 77
TABLE 23 GLOBAL CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 77
NATURAL GAS RESERVES 78
TABLE 24 GLOBAL NATURAL GAS PROVED RESERVES, THROUGH
2017 (TRILLION CUBIC METERS) 78
MARKET DYNAMICS 78
MARKET DYNAMICS (CONTINUED) 79
TABLE 25 NATURAL GAS EXPORTS, GLOBAL, 2010 (BILLION CUBIC
METERS) 80
GLOBAL NATURAL GAS PRODUCTION TRENDS 80
SUMMARY 80
TABLE 26 CAPITAL COST COMPONENTS OF SIMPLE AND
COMBINED CYCLE NATURAL GAS TECHNOLOGIES; GLOBAL
REGIONS IN 2011 DOLLARS ($) 81
TABLE 27 CAPITAL COST FORECAST FOR SIMPLE AND COMBINED
CYCLE NATURAL GAS TECHNOLOGIES; GLOBAL REGIONS IN
2011 DOLLARS, THROUGH 2017 ($) 81
TABLE 28 GLOBAL NATURAL GAS PRODUCTION, THROUGH 2017
(MILLION TONNES OIL EQUIVALENT) 81
TABLE 29 ADDITIONS OF PROVEN NATURAL GAS RESERVES, 2000
TO 2010 (TRILLION CUBIC METERS) 82
TABLE 30 NATURAL GAS EXTRACTION TECHNOLOGY BY
METHOD, GLOBAL REGIONS, THROUGH 2017 (TRILLION CUBIC
METERS) 83
TABLE 31 GLOBAL CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 83
CHAPTER SEVEN: NORTH AMERICA 84
SUMMARY 84
TABLE 32 NORTH AMERICAN CONSUMPTION OF NATURAL GAS
FOR ELECTRICITY GENERATION, THROUGH 2012 (MILLION
TONNES OIL EQUIVALENT) 84
UNITED STATES 85
INDUSTRY STRUCTURE 85
TABLE 33 U S CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 85
GOVERNMENT POLICIES AND REGULATIONS 85
The Department of Energy and Advanced Research
Projects Agency-Energy 86
EXISTING GENERATION 87
INDUSTRY FORECAST 88
TABLE 34 NATURAL GAS RESERVES IN NORTH AMERICA,
THROUGH 2017 (TRILLION CUBIC METERS) 88
TABLE 35 NATURAL GAS EXPORTS IN NORTH AMERICA, 2010
(BILLION CUBIC METERS) 88
CANADA 89
INDUSTRY STRUCTURE 89
GOVERNMENT POLICIES AND REGULATIONS 89
EXISTING GENERATION 90
INDUSTRY FORECAST 91
TABLE 36 CAPITAL COST COMPONENTS OF SIMPLE AND
COMBINED CYCLE NATURAL GAS TECHNOLOGIES IN NORTH
AMERICA, IN 2011 DOLLARS ($) 91
TABLE 37 CAPITAL COST FORECAST FOR SIMPLE AND COMBINED
CYCLE NATURAL GAS TECHNOLOGIES IN NORTH AMERICA, IN
2011 DOLLARS, THROUGH 2017 ($) 91
TABLE 38 NATURAL GAS PRODUCTION IN NORTH AMERICA,
THROUGH 2017 (BILLION CUBIC METERS) 92
TABLE 39 CANADA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 92
MEXICO 93
INDUSTRY STRUCTURE 93
GOVERNMENT POLICIES AND REGULATIONS 93
EXISTING GENERATION 94
INDUSTRY FORECAST 94
TABLE 40 MEXICO CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 94
TABLE 41 NORTH AMERICA ADDITIONS OF PROVEN NATURAL
GAS RESERVES, 2000 TO 2010 (TRILLION CUBIC METERS/%) 95
TABLE 42 NATURAL GAS EXTRACTION TECHNOLOGY BY METHOD
IN NORTH AMERICA, THROUGH 2017 (TRILLION CUBIC
METERS) 95
TABLE 43 NORTH AMERICAN CONSUMPTION OF NATURAL GAS
FOR ELECTRICITY GENERATION, THROUGH 2017 (MILLION
TONNES OIL EQUIVALENT) 96
CHAPTER EIGHT: EUROPE AND EURASIA 97
SUMMARY 97
TABLE 44 EUROPE AND EURASIA CONSUMPTION OF NATURAL
GAS FOR ELECTRICITY GENERATION, THROUGH 2012
(MILLION TONNES OIL EQUIVALENT) 97
TABLE 44 (CONTINUED) 98
INDUSTRY STRUCTURE 98
GOVERNMENT POLICIES AND REGULATIONS 99
EXISTING GENERATION 100
INDUSTRY FORECAST 101
RUSSIA 101
INDUSTRY STRUCTURE 101
GOVERNMENT POLICIES AND REGULATIONS 102
EXISTING GENERATION 103
INDUSTRY FORECAST 103
TABLE 45 RUSSIAN CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 103
NON-OECD EUROPE AND EURASIA (OTHER THAN RUSSIA) 103
TABLE 46 NATURAL GAS RESERVES IN EUROPE AND EURASIA,
THROUGH 2017 (TRILLION CUBIC METERS) 104
TABLE 47 NATURAL GAS EXPORTS IN EUROPE AND EURASIA,
2010 (BILLION CUBIC METERS) 104
TABLE 48 CAPITAL COST COMPONENTS OF SIMPLE AND
COMBINED CYCLE NATURAL GAS TECHNOLOGIES; EUROPE
AND EURASIA IN 2011 DOLLARS ($) 105
TABLE 49 CAPITAL COST FORECAST FOR SIMPLE AND COMBINED
CYCLE NATURAL GAS TECHNOLOGIES; EUROPE AND
EURASIA, THROUGH 2017 (IN 2011 DOLLARS) 105
TABLE 50 NATURAL GAS PRODUCTION IN EUROPE AND EURASIA,
THROUGH 2017 (BILLION CUBIC METERS) 105
TABLE 50 (CONTINUED) 106
INDUSTRY STRUCTURE 106
GOVERNMENT POLICIES AND REGULATIONS 107
EXISTING GENERATION 107
TABLE 51 EUROPE AND EURASIA ADDITIONS OF PROVEN
NATURAL GAS RESERVES, 2000 TO 2010 (TRILLION CUBIC
METERS) 108
TABLE 52 NATURAL GAS EXTRACTION TECHNOLOGY BY
METHOD, EUROPE AND EURASIA, THROUGH 2017 (TRILLION
CUBIC METERS) 108
INDUSTRY FORECAST 108
TABLE 53 EUROPE AND EURASIA CONSUMPTION OF NATURAL
GAS FOR ELECTRICITY GENERATION, THROUGH 2017
(MILLION TONNES OIL EQUIVALENT) 109
CHAPTER NINE: ASIA-PACIFIC 110
SUMMARY 110
TABLE 54 ASIA-PACIFIC CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 110
JAPAN 111
INDUSTRY STRUCTURE 111
GOVERNMENT POLICIES AND REGULATION 111
EXISTING GENERATION 112
TABLE 55 JAPAN CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 112
INDUSTRY FORECAST 112
TABLE 56 JAPAN CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 113
SOUTH KOREA 113
INDUSTRY STRUCTURE 114
GOVERNMENT POLICIES AND REGULATION 114
EXISTING GENERATION 114
TABLE 57 SOUTH KOREA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 115
INDUSTRY FORECAST 115
TABLE 58 SOUTH KOREA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 115
CHINA 116
INDUSTRY STRUCTURE 116
GOVERNMENT POLICIES AND REGULATIONS 117
EXISTING GENERATION 118
TABLE 59 CHINA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 119
INDUSTRY FORECAST 119
TABLE 60 CHINA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 120
AUSTRALIA/NEW ZEALAND 120
INDUSTRY STRUCTURES 120
GOVERNMENT POLICIES AND REGULATIONS 121
EXISTING GENERATION 122
TABLE 61 AUSTRALIA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 122
INDUSTRY FORECAST 123
TABLE 62 AUSTRALIA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 123
INDIA 123
INDUSTRY STRUCTURE 124
GOVERNMENT POLICIES AND REGULATIONS 125
EXISTING GENERATION 126
TABLE 63 INDIA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 126
NATURAL GAS–FIRED ELECTRICITY GENERATION
INDUSTRY FORECAST 126
TABLE 64 INDIA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 127
NON-OECD ASIA OTHER THAN CHINA AND INDIA 128
INDUSTRY STRUCTURE 128
TABLE 65 NATURAL GAS RESERVES IN ASIA-PACIFIC, THROUGH
2017 (TRILLION CUBIC METERS) 129
TABLE 66 NATURAL GAS EXPORTS IN ASIA-PACIFIC, 2010
(BILLION CUBIC METERS) 129
TABLE 67 CAPITAL COST COMPONENTS OF SIMPLE AND
COMBINED CYCLE NATURAL GAS TECHNOLOGIES; ASIAPACIFIC
(IN 2011 DOLLARS) 130
TABLE 68 CAPITAL COST FORECAST FOR SIMPLE AND COMBINED
CYCLE NATURAL GAS TECHNOLOGIES; ASIA-PACIFIC IN 2011
DOLLARS ($) 130
TABLE 69 NATURAL GAS PRODUCTION IN ASIA-PACIFIC,
THROUGH 2017 (BILLION CUBIC METERS) 130
TABLE 69 (CONTINUED) 131
TABLE 70 ASIA-PACIFIC ADDITIONS OF PROVEN NATURAL GAS
RESERVES, 2000 TO 2010 (TRILLION CUBIC METERS) 131
GOVERNMENT POLICIES 131
TABLE 71 NATURAL GAS EXTRACTION TECHNOLOGY BY METHOD
IN ASIA-PACIFIC, THROUGH 2017 (TRILLION CUBIC METERS) 132
EXISTING GENERATION 132
TABLE 72 ASIA-PACIFIC CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 133
CHAPTER TEN: MIDDLE EAST AND AFRICA 134
THE MIDDLE EAST 134
TABLE 73 MIDDLE EAST CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 134
TABLE 74 AFRICA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 135
INDUSTRY STRUCTURE 135
GOVERNMENT POLICIES AND REGULATIONS 136
EXISTING GENERATION 136
INDUSTRY FORECAST 137
TABLE 75 NATURAL GAS RESERVES IN MIDDLE EAST, THROUGH
2017 (TRILLION CUBIC METERS) 137
TABLE 76 NATURAL GAS RESERVES IN AFRICA, THROUGH 2017
(TRILLION CUBIC METERS) 138
TABLE 77 NATURAL GAS EXPORTS IN MIDDLE EAST, 2010
(BILLION CUBIC METERS) 138
TABLE 78 NATURAL GAS EXPORTS IN AFRICA, 2010 (BILLION
CUBIC METERS) 139
TABLE 79 CAPITAL COST COMPONENTS OF SIMPLE AND
COMBINED CYCLE NATURAL GAS TECHNOLOGIES; MIDDLE
EAST IN 2011 DOLLARS ($) 139
TABLE 80 CAPITAL COST FORECAST FOR SIMPLE AND COMBINED
CYCLE NATURAL GAS TECHNOLOGIES; MIDDLE EAST IN 2011
DOLLARS, THROUGH 2017 ($) 139
TABLE 81 CAPITAL COST COMPONENTS OF SIMPLE AND
COMBINED CYCLE NATURAL GAS TECHNOLOGIES; AFRICA (IN
2011 DOLLARS) 140
TABLE 82 CAPITAL COST FORECAST FOR SIMPLE AND COMBINED
CYCLE NATURAL GAS TECHNOLOGIES; AFRICA, THROUGH 2017
(IN 2011 DOLLARS) 140
AFRICA 140
INDUSTRY STRUCTURE 141
Industry Structure (Continued) 142
TABLE 83 NATURAL GAS PRODUCTION IN MIDDLE EAST,
THROUGH 2017 (BILLION CUBIC METERS) 143
TABLE 84 NATURAL GAS PRODUCTION IN AFRICA, THROUGH 2017
(BILLION CUBIC METERS) 143
TABLE 85 MIDDLE EAST ADDITIONS OF PROVEN NATURAL GAS
RESERVES, 2000 TO 2010 (TRILLION CUBIC METERS) 144
TABLE 86 AFRICA ADDITIONS OF PROVEN NATURAL GAS
RESERVES, 2000 TO 2010 (TRILLION CUBIC METERS) 144
TABLE 87 NATURAL GAS EXTRACTION TECHNOLOGY BY
METHOD, MIDDLE EAST, THROUGH 2017 (TRILLION CUBIC
METERS) 144
TABLE 88 NATURAL GAS EXTRACTION TECHNOLOGY BY
METHOD, AFRICA, THROUGH 2017 (TRILLION CUBIC METERS) 145
GOVERNMENT POLICIES AND REGULATIONS 145
EXISTING GENERATION 146
INDUSTRY FORECAST 146
TABLE 89 MIDDLE EAST CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 147
TABLE 90 AFRICA CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 147
CHAPTER ELEVEN: SOUTH AND CENTRAL AMERICA 148
BRAZIL 148
TABLE 91 SOUTH AND CENTRAL AMERICA CONSUMPTION OF
NATURAL GAS FOR ELECTRICITY GENERATION, THROUGH
2012 (MILLION TONNES OIL EQUIVALENT) 148
INDUSTRY STRUCTURE 149
GOVERNMENT POLICIES AND REGULATIONS 149
EXISTING GENERATION 150
TABLE 92 BRAZIL CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2012 (MILLION TONNES
OIL EQUIVALENT) 150
INDUSTRY FORECAST 150
TABLE 93 BRAZIL CONSUMPTION OF NATURAL GAS FOR
ELECTRICITY GENERATION, THROUGH 2017 (MILLION TONNES
OIL EQUIVALENT) 151
CENTRAL AND SOUTH AMERICA (EXCEPT BRAZIL) 151
TABLE 94 NATURAL GAS RESERVES IN SOUTH AND CENTRAL
AMERICA, THROUGH 2017 (TRILLION CUBIC METERS) 152
TABLE 95 NATURAL GAS EXPORTS IN SOUTH AND CENTRAL
AMERICA, 2010 (BILLION CUBIC METERS) 153
INDUSTRY STRUCTURE 153
TABLE 96 CAPITAL COST COMPONENTS OF SIMPLE AND
COMBINED CYCLE NATURAL GAS TECHNOLOGIES; SOUTH AND
CENTRAL AMERICA (IN 2011 DOLLARS) 154
TABLE 97 CAPITAL COST FORECAST FOR SIMPLE AND COMBINED
CYCLE NATURAL GAS TECHNOLOGIES; SOUTH AND CENTRAL
AMERICA, THROUGH 2017 (IN 2011 DOLLARS) 154
TABLE 98 NATURAL GAS PRODUCTION IN SOUTH AND CENTRAL
AMERICA, THROUGH 2017 (BILLION CUBIC METERS) 155
TABLE 99 SOUTH AND CENTRAL AMERICA ADDITIONS OF
PROVEN NATURAL GAS RESERVES, 2000 TO 2010 (TRILLION
CUBIC METERS) 155
GOVERNMENT POLICIES AND REGULATION 155
EXISTING GENERATION 156
TABLE 100 NATURAL GAS EXTRACTION TECHNOLOGY BY
METHOD IN SOUTH AND CENTRAL AMERICA, THROUGH 2017
(TRILLION CUBIC METERS) 157
INDUSTRY FORECAST 157
TABLE 101 CENTRAL AND SOUTH AMERICA CONSUMPTION OF
NATURAL GAS FOR ELECTRICITY GENERATION, THROUGH
2017 (MILLION TONNES OIL EQUIVALENT) 157
CHAPTER TWELVE: COMPANY PROFILES 158
SUMMARY 158
COMPANIES 158
AES CORP 158
Overview 158
Corporate Strategy 159
AES GENER SA 159
Overview 159
CHINA RESOURCES POWER HOLDINGS CO LTD 159
Overview 160
Corporate Strategy 160
CHINA YANGTZE POWER CO LTD 160
Overview 160
Corporate Strategy 160
CONSTELLATION ENERGY GROUP, INC 161
Overview 161
Corporate Strategy 161
DATANG INTERNATIONAL POWER GENERATION CO ,
LTD 161
Overview 161
Corporate Strategy 162
DOMINION RESOURCES, INC 162
Overview 162
Corporate Strategy 162
E ON AG 162
Overview 163
Corporate Strategy 163
ELECTRICITÉ DE FRANCE 163
Overview 163
Corporate Strategy 164
ELETROBRAS 164
Overview 164
Corporate Strategy 164
ENDESA SA 165
Overview 165
Corporate Strategy 165
ENERGIE BADEN-WÜRTTEMBERG AG 165
Overview 165
Corporate Strategy 166
ENERSIS SA 166
Overview 166
Corporate Strategy 166
ESKOM HOLDINGS LTD 167
Overview 167
Corporate Strategy 167
HUANENG POWER INTERNATIONAL 167
Overview 167
Corporate Strategy 168
INTERNATIONAL POWER PLC 168
Overview 168
Corporate Strategy 168
J-POWER/ELECTRIC POWER DEVELOPMENT CO , LTD 169
Overview 169
Corporate Strategy 169
MIDAMERICAN ENERGY HOLDINGS CO 169
Overview 169
NEXTERA ENERGY, INC 170
Overview 170
Corporate Strategy 170
NRG ENERGY INC 170
Overview 170
Corporate Strategy 171
NTPC LTD 171
Overview 171
Corporate Strategy 171
PUBLIC SERVICE ENTERPRISE GROUP INC 172
Overview 172
Corporate Strategy 172
RUSHYDRO JSC 172
Overview 172
Corporate Strategy 173
RWE AG 173
Overview 173
Corporate Strategy 173
SAUDI ELECTRICITY CO 174
Overview 174
Corporate Strategy 174
SCOTTISH & SOUTHERN ENERGY PLC 174
Overview 174
Corporate Strategy 175
SEMPRA ENERGY 175
Overview 175
Corporate Strategy 175
SOUTHERN CO 175
Overview 176
Corporate Strategy 176
TATA POWER CO , LTD 177
Overview 177
Corporate Strategy 177
TOKYO ELECTRIC POWER CO , INC 177
Overview 177
Corporate Strategy 178
VATTENFALL AB 178
Overview 178
Corporate Strategy 178
