Reported about 13 hours ago
Wood Mackenzie's recent report highlights potential challenges in meeting gas power demand over the next 15 years due to manufacturing limitations, increasing costs, and competition from renewable energy sources. The firm anticipates the addition of around 890 GW of new gas-fired generation globally from 2025 to 2040, primarily driven by the U.S. and China. Factors such as high capital costs in the U.S. and expensive imported gas in Asia may hinder growth, while Europe’s decarbonization goals limit unabated gas use. As demand for electricity rises, the need for advancements in technologies and infrastructure will also grow, creating both opportunities and hurdles for the gas power sector.
Source: YAHOO