[ Editorial ]
Volume 35 , June 2023
Stainless Steel World is the global magazine for corrosion resistant alloy users , suppliers and fabricators . www . stainless-steel-world . net
Director KCI Publishing B . V Elisa Hannan e . hannan @ kci-world . com Tel : + 31 575 585 291
Editor-in-Chief Joanne McIntyre j . mcintyre @ kci-world . com Tel : + 31 575 585294
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Looking at LNG
[ Editorial ]
“ Energy and persistence conquer all things .” Benjamin Franklin , 1705 – 1790 , US writer , scientist , inventor , statesman , publisher , philosopher
This month , Stainless Steel World has focused on LNG ; an industry that has undergone an enormous transformation in recent years . From plummeting to negative prices during the pandemic ( remember those strange days ?) and then soaring to record highs as Europe scrambled to find alternative sources in 2022 , it ’ s a market that ’ s been unpredictable and volatile . Meanwhile , the USA went from shipping its first tanker of LNG in 2016 to becoming the world ’ s leading exporter in 2022 following Europe ’ s energy crisis and China ’ s shortages .
Imports of LNG by ship into Europe have boomed as countries have scrambled to build or expand regasification plants and boost capacity to avoid shortages and lower prices . According to the International Group of LNG Importers , LNG import capacity in the European Union and the UK will expand by 34 %, or 6.8 billion cubic feet per day , by 2024 compared with 2021 . For example , in 2022 , Europe ’ s largest LNG terminal , Grain LNG in the UK , reached a new record high in ship arrivals of 102 ships .
Being ( relatively ) fast to manufacture and install , floating storage and regasification units ( FSRUs ) are now in vogue in Europe . Germany will have six new FSRUs spread over four sites coming online by the end of the year , each capable of importing at least 5 billion cubic meters of seaborne gas per year . Fortunately , the industry uses massive amounts of stainless steel and other corrosion-resistant alloys .
Be sure to read James Chater ’ s insightful overview of the industry starting from page 12 to keep up to date on what is happening in the LNG industry .
Still , on the topic of gas ( and oil ), I know you ’ ll enjoy the insightful article from the IOGP about JIP33 , a project standardising equipment procurement specifications across the industry . It ’ s already having far-reaching positive effects for suppliers in this lucrative industry and will continue to do so for many years to come .
It ’ s also time for another round-up of what ’ s happening in the nickel markets , provided by our friends at the International Nickel Study Group ( INSG ). This year , primary nickel production is forecast to rise by + 10.2 %. The increase is mainly influenced by Indonesia , although China is expanding production as well . You can read about how the market is developing from page 41 .
This month , we welcome the BIBUS Group to our cover , a family-owned enterprise which encompasses over 50 companies . Christian Bibus on left and Conrad M . Ulrich-Bibus on the right represent the third generation of the family , while in the middle , Conrad C . Ulrich is the fourth generation to continue in the family business .
Best wishes , Joanne McIntyre Editor-in-Chief of Stainless Steel World j . mcintyre @ kci-world . com
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