A new report from Frost & Sullivan is positive about the place of gas fired power generation over the next decade.
The power generation resource is expected to grow across all world regions due to its clean burning characteristics and flexible operating capabailities.
This is reinforced by the unpopularity of coal fired power in developed countries and the problems associated with nuclear power, in tandem with low natural gas prices, and high availability as a result of recent pipeline developments.
The report forecasts that North America and Europe will maintain their lead as the regions with the largest installed gas-fired capacity, and global gas-fired power plant orders will total 537 GW through 2020.
The report did sound a word of caution, stating that it is probable that in the short term, gas-based plants will have delays associated with the availability of finance, exacerbated by the eurozone sovereign debt crisis.
Frost & Sullivan Industry Director, Harald Thaler said, “Moreover, electricity consumption in many countries of the developed world has still not recovered to pre-crisis levels.”
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