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Share Name | Share Symbol | Market | Type |
---|---|---|---|
GE Aerospace | NYSE:GE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.73 | -1.66% | 161.76 | 166.2558 | 161.58 | 163.56 | 6,723,602 | 01:00:00 |
HOUSTON, TX, Sept. 23, 2014 /CNW/ - GE (NYSE:GE) today at Turbomachinery Symposium, Houston, announced the launch of a new 16.5 megawatt (MW) gas turbine (NovaLT16) for mechanical drive and power generation applications in the oil and gas industry. Developed by GE Oil & Gas to meet the industry's evolving challenges, NovaLT16 combines the best technology from industry-proven GE turbines and benefits from the industry insights of TransCanada Corporation (TSX, NYSE: TRP) (TransCanada), a major North American energy infrastructure company.
Today's oil and gas operators need to transport gas from more remote locations, in harsh environments and under more stringent regulations. These challenges increase demand for efficiency, emissions reduction and maintainability of the critical equipment. The 16.5 MW NovaLT16 gas turbine will provide up to 37 per cent mechanical efficiency, which raises the standards of efficient and reliable pipeline compressions, power generation and oil and gas plant compression applications thereby helping to meet increasing energy demand across the world.
"We strive to remain an innovator and to continue testing new technology that could result in cost savings and emission reductions within our facilities," said David Montemurro, Vice President, Facilities and Pipeline Projects, TransCanada. "We're pleased to have signed the MOU to highlight our commitment towards the development of a more energy efficient gas turbine".
"This collaboration with TransCanada has enabled us to develop a winning alternative for the oil and gas industry in North America," said Rafael Santana, CEO and President Turbomachinery Solutions, GE Oil & Gas. "Together, we will develop a solution specifically tailored to meet market challenges around increasing efficiency, reducing waste emissions and increasing reliability."
Key features and benefits of NovaLT16
Development and testing of the NovaLT16 engine began in 2013. Completed units, including all auxiliaries systems and controls, are planned for release to the market in early 2016.
Key technical features of NovaLT16
About GE Oil & Gas
GE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future. Follow GE Oil & Gas on Twitter @GE_OilandGas.
SOURCE General Electric Canada Inc.
Copyright 2014 Canada NewsWire
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