Emerging markets to see 40% growth in gas-fired power gen over 10 years: Fitch
New York-based Fitch predicts that emerging markets will see a 40% growth in natural gas-fired power generation over the next 10 years, supporting the outlook for LNG-to-power projects.
The pipeline of LNG-to-power projects is "heavily skewed towards Asia-Pacific, Latin America and the Caribbean and, to a lesser extent, Sub-Saharan Africa," Fitch said in a report published on June 17. "The drivers behind demand vary by market, but generally include low or declining domestic gas production, a strong rise in overall energy demand, a need to diversify the power mix and deeper decarbonisation efforts."
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The share of floating LNG-to-power projects will grow, Fitch said, owing to their greater flexibility and capital cost advantages, and there will also be an expanding role for floating power plants.