A press released published yesterday by Industrial Info Resources (Sugar Land, Texas) revealed how they are tracking 16 natural gas-fired power-generation projects worth more than $8.5 billion, representing 8,876 megawatts (MW) of power generation, in the U.S. Southeast region.
They are also in the process of tracking four natural gas fuel-conversion projects at existing power plants in the Southeast that are valued at $94 million. So… what does this mean?
The capacity for natural gas is remarkably strong in the south, with Duke Energy of St. Petersburg, FL announcing that it would add more than 2,900 MW of new natural gas capacity to the southeastern fleet by the end of 2018 and other top utilities in the region engaged in similar large-scale projects.
Florida was second only to Texas in 2013 in net electricity generation from natural gas, which accounted for 62% of Florida’s net generation, while coal accounted for 21%, the state’s nuclear power plants accounted for 12%, and other resources, including renewable energy, supplied the remainder, according to the U.S. Energy Information Association (EIA).
The EIA also revealed how geologists believe there may be large oil and gas deposits in the federal Outer Continental Shelf off of Florida’s western coast. This may mean a huge increase is on the way for natural gas power generation throughout the Southeast region, and many of the state’s large utility companies will be looking to take an active role in the process.