[ Industry Update ]
[ Industry Update ]
Subsea7 awarded contract in the Gulf of Mexico
with economic growth and to reduce carbon emissions and air pollution , with the aim of becoming carbon neutral by 2070 . City gas distribution companies are granted exclusive authorizations for laying , building , operating , or expanding the CGD network in given authorized areas ( GAs ) by the Petroleum and Natural Gas Regulatory Board of India . The Target Company has investments in THINK Gas , which holds 7 GAs mainly in north-central India and has investments in AG & P Pratham , which holds 12 GAs mainly in southern India . THINK Gas and AG & P Pratham have a total business area of approximately 325,000 km 2 , equivalent to around 90 % of Japan ’ s land mass . The Target Company will continue to invest in developing CGD infrastructure ( CNG stations , household connections , steel , and MDPE pipelines ) to increase the sale of natural gas and help in the transition of India into a gas based economy .
Subsea7 has announced the award of a sizable contract by Talos Energy for the Sunspear development in Green Canyon Block 78 , in the Gulf of Mexico . The project involves the subsea tie back of one production well at Sunspear to the Prince platform , 12 km to the north . Subsea7 will install the flowline and related subsea equipment at 500 metre water depths . Subsea7 ’ s Houston office will oversee project management and installation engineering , with offshore work scheduled to begin later this year . Craig Broussard , Vice President for Subsea7 Gulf of Mexico , said , “ This award further strengthens our strategic partnership with Talos Energy , enabling early-stage collaboration for faster , more predictable project delivery .”
Sumitomo Corporation to make primary investment
Sumitomo Corporation will be entering the city gas business in India by making a primary investment in AG & P LNG Marketing Pte . Ltd . through a Japanese consortium comprising a new SPC to be formed together with the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development and Osaka Gas Singapore Pte . Ltd ., a subsidiary of Osaka Gas Co ., Ltd . The Government of India is seeking to expand the use of natural gas by popularizing compressed natural gas ( CNG ) vehicles through the development of a city gas distribution network ( CGD network ) and pursuing other approaches as measures to meet the increasing energy demand associated
Steelinvest and Meranti Green Steel sign MoU
Steelinvest NV , an international commodity trading group , and Meranti Green Steel Pte . Ltd ., a pioneering company in sustainable steel production in APAC , have formalised a strategic Memorandum of Understanding ( MoU ) aimed at the distribution of Green Hot Rolled Coils ( Green HRC ). The MoU lays the foundation for both companies to collaborate on the marketing and distribution of Meranti ’ s green steel . Meranti ’ s green steel plans involve leveraging renewable energy sources and advanced iron reduction processes to minimize the carbon footprint in steel production . The partnership with Steelinvest is expected to enhance market access and facilitate the growth of Meranti ’ s Green HRC brand internationally . Steelinvest NV , with its leadership and expertise in commodity trading and logistics management , will play a pivotal role in promoting Meranti ’ s Green HRC across strategic markets . Additionally , Steelinvest will explore trade finance opportunities to facilitate the flow of Green HRC to end-users , by providing essential working capital support to both Meranti and its customers . Meranti will collaborate closely with Steelinvest on branding and marketing initiatives to ensure the successful launch of the Green HRC product line in international markets , complementing existing partnerships . The MoU outlines a clear framework for collaboration , encompassing various aspects such as market expansion including volume targets , financing support , and mutual sharing of resources .
52 Stainless Steel World May 2024 www . stainless-steel-world . net