[ Special Focus ]
[ Special Focus ]
Aperam acquires Universal Stainless and Alloy Products of project exploration expenditures . It will be reimbursed by Sumitomo a portion of exploration expenditures it incurs at the project during the term sheet exclusivity period .
Glenfarne selects Kiewit as EPC
Aperam , a company specialised in stainless , electrical , and specialty steel , recently agreed to purchase Universal Stainless and Alloy Products , a manufacturer and marketer of semifinished and finished specialty steels . Aperam will acquire all the outstanding Universal shares for USD 45 per share . Once the transaction is complete , Universal will become a wholly-owned subsidiary of Aperam and will do business as Universal Stainless . It will maintain its headquarters in Bridgeville . The purchase allows Aperam to strengthen its commitment to de-commoditization and increases its exposure to high-margin industries . Aperam has customers in more than 40 countries . The business is organized into three operating segments : stainless and electrical steel , services and solutions , and alloys and specialties .
Inomin with Sumitomo to enhance Beaver- Lynx project
Inomin Mines is partnering up with Sumitomo Metal Mining to advance the company ’ s Beaver-Lynx project in British Columbia . Under a term sheet , Sumitomo will have the right to earn up to an 80 % interest in the project by spending at least CD 8M on exploration . The earn-in will be in two phases , with the initial phase requiring CD 3M in expenditure for a 60 % interest and CD 5M for an additional 20 % interest . Inomin will be the operator of the project during at least the initial earn-in period , entitling the company a fee equal to 10 %
Glenfarne Group , the developer of Texas LNG , said that engineering and construction company Kiewit will lead EPC efforts for the 4 million tonnes per annum facility , set to be built at the Port of Brownsville in southern Texas near the Mexico border . Kiewit will also complete the final engineering work needed before Glenfarne officially sanctions Texas LNG . Texas LNG is one of two US projects , including Rio Grande LNG , that had their Federal Energy Regulatory Commission ( FERC ) permit cancelled in August following a successful court challenge from a host of environmental groups .
Crown LNG races to develop and start Texas LNG plant
Norwegian headquartered Crown LNG is racing against time to develop and start construction of a liquefied natural gas export plant in the U . S . before President-elect Donald Trump ’ s second term ends in 2029 , its CEO Swapan Kataria said . “ We were sincerely hoping that he would be there to support the industry because certainly , the old administration was against it , quite simply ,” said Kataria . Trump has promised to reduce regulations to make it easier for LNG projects to be approved . The U . S . is already exporter of superchilled gas and there are several projects under construction and in the development stage . Crown LNG is hoping to build a 9 million metric tons per annum ( MTPA ) LNG facility offshore Texas from which it hopes to then export the gas to its proposed regasification terminals in India , Vietnam , and Scotland , all of which are still in various stages of development . The company has ruled out locating the plant in Louisiana because it worries about accessing natural gas pipelines over a 25- to 40-year period , and wants to build offshore because it feels the approval process is quicker than on land and will have to meet fewer demands than those of the Federal Energy Regulatory Commission ( FERC ), Kataria said . Crown LNG believes the Maritime Administration ( MARAD ) is a less challenging regulatory environment that favors getting projects done . “ MARAD has a quicker turnaround than the FERC . FERC has a lot more expensive process as opposed to MARAD ,” Kataria said .
www . stainless-steel-world . net Stainless Steel World December 2024 7