Liquefied Petroleum Gas News

Related Fuels Industry News

• Jul 2023: Saudi Arabia reached a new high in fuel oil imports from Russia, amounting to 193,000 barrels per day (bpd). Fuel oil demand is being driven by the Kingdom's reduction in crude oil production as well as an anticipated increase in summertime electricity consumption.
• Mar 2023: Saudi Arabia's national oil producer and China's Geely Automobile Holdings and Renault SA signed an agreement to collaborate on the development of automobile engines powered by gasoline, alternative fuels, and hybrid technology, which has moved one step closer to completion.

• November 2022: The government of China extended long-term thermal coal supply contracts to all coal mines for 2023 and pushed power utilities to source more of their needs through such contracts to secure market supply and stabilize prices. The long-term contract will include all coal mining companies and coal-fired electricity and heating plants.
• February 2022: The eastern Chinese coastal province of Zhejiang approved the construction of a USD 840 million coal-fired power station. According to the Zhejiang Energy Group, the Phase 2 Project of the Liuheng Power Plant will help balance the province's energy supply and demand.

• September 2022: Russia's Gazprom announced shipping 42.4 million cubic meters (mcm) of natural gas to Europe via Ukraine. The shift was part of a push by Russia to reduce its reliance on the US dollar.
• September 2022: The Baltic Pipe was inaugurated at Goleniów, Poland, marking the completion of the Baltic Pipe construction. The pipeline connects various countries, viz., Norway, Denmark, Poland, and neighboring countries. With this project, countries can now import up to 10 billion cubic meters (bcm) of gas annually from Norway to Poland and transport up to three bcm of gas from Poland to Denmark.

• February 2022: Russia and China announced the development of an intergovernmental agreement on the supply of coal in the amount of 100 million tons. According to the government of Russia, the Asia-Pacific region has a significant market for coal till 2030. The countries have started working on the agreement.
• January 2022: Adani announced it won a contract to supply coal to NTPC, India’s state-owned electricity generator. The company will provide 1 million tons of coal to various power plants.

• December 2023: The power and distribution business of Larsen & Toubro (L&T) Construction had secured an order for its power and distribution vertical in the Middle East region. The order is for engineering, supply, construction, installation, testing, and commissioning of a substation that includes a transformer, reactor, substation control, and monitoring systems in the United Arab Emirates.
• November 2023: HD Hyundai Electric Co., a subsidiary of South Korea’s HD Hyundai Co., made a deal worth USD 72.3 million for Saudi Arabian City development. The deal involves providing crucial power equipment for city development projects near Diriyah, Saudi Arabia. The components supplied are power transformers, high-voltage circuit breakers, and reactors, amongst others.

• December 2023: Tata Power, a leading Indian power company, recently made headlines by announcing a strategic partnership between its subsidiary, Tata Power EV Charging Solutions, and the state-owned India Oil Corporation Ltd (IOCL). The agreement entails the installation of over 500 fast and ultra-fast electric vehicle (EV) charging points throughout India.
• October 2023: The investment of USD 91 million by the Ontario government to expand electric vehicle charging stations in small and medium-sized communities is a significant step toward promoting the adoption of electric vehicles and reducing greenhouse gas emissions.
• May 2023: Stations-e, a French company based in Boussy-Saint-Antoine, specializes in the deployment of electric vehicle charging stations. Stations-e announced it would invest USD 256 million in deploying 10,000 charging stations in France.

• January 2024: Microsoft signed an eight-year deal with the largest US solar manufacturer, Qcells, to supply the company with enough solar panels to add 12 gigawatts of solar electricity to the US grid.
• March 2024: The Minister of State for the Ministry of New and Renewable Energy, and Chemicals and Fertilisers announced that India attracted a total of USD 3.8 billion in foreign direct investment (FDI) in the solar energy sector over the past three financial years and the current financial year until September 2023.

• March 2024: Greenly, a significant carbon accounting startup, announced that it secured funding for its series B round. The company raised USD 52 million in its Series B round. Investors aim to develop more precise carbon accounting methodologies and accurately deploy these solutions to increase the company’s market share globally.
• March 2024: Green Project Technologies, a prominent SaaS data management platform specializing in user-friendly, audit-quality carbon accounting, unveiled its Green Project White Label solution. This offering targets the ESG service market, providing a customizable platform that enables ESG service providers, including consulting firms, accountants, and other software providers, to integrate top-tier branded carbon accounting seamlessly into their current sustainability offerings.

• April 2024: Dominion Energy announced that it successfully launched Charybdis, the first Jones Act-compliant offshore wind turbine construction vessel in the United States, from land to water. This achievement marks a significant milestone in the vessel's construction, with the completion of hull welding and the commissioning of the vessel's four legs and associated jacking system.
• February 2024: The classification society ABS approved in principle (AIP) Chinese shipbuilder Yantai CIMC Raffles Offshore Ltd for designing a dual-fuel methanol-powered, heavy-duty offshore wind turbine construction vessel (WTCV). This WTCV can transport and install the world's giant wind turbines, generating up to 20 megawatts (MW) of electricity, and offers reduced carbon emissions through its dual-fuel methanol propulsion system. The design also includes a 3,500-ton leg encircling crane and a robust, sea-keeping dynamic positioning system (DPS) compliant with ABS class requirements DPS-2.

• February 2024: CORE SWX launched the new V-mount and Gold-mount NANO X Micro Batteries worldwide, including in India. These batteries feature a first-of-its-kind NexCore casing compound crafted from robust polycarbonate.