Downstream news

INEOS and SINOPEC have signed three back-to-back deals worth a combined value of US$7 billion.

Wood Mackenzie reports that market growth has staggered for global energy storage, with cumulative storage deployments expected to reach 500 GW by 2031.

Dow and Al-Hejailan Group have signed a MoU to build a joint venture MDEA plant in Saudi Arabia.

Technip Energies Loading Systems will supply a marine loading arm to TotalEnergies as part of the floating storage and regasification unit (FSRU) project in Le Havre, France.

Nikkiso Clean Energy & Industrial Gases Group has announced the addition of a vaporiser manufacturing facility in Houston, Texas, US.

Johnson Matthey has announced that it is collaborating with ClimeCo to accelerate the deployment of enhanced carbon capture solutions for industry.

TotalEnergies has announced the start-up of a new ethane cracker in Port Arthur, Texas, US.

Technip Energies has been awarded a contract by Neste for the expansion of its renewable products production capacity in Rotterdam, the Netherlands.

BASF SE has announced its final approval for the construction of the planned Verbund site in Zhanjiang, China. The focus will now be on building the core of the Verbund, which includes a steam cracker and several downstream plants for the production of petrochemicals.

Wood Mackenzie reports that China’s LNG imports are set to fall over 14% year-on-year to 69 million t in 2022, the largest decline since it began LNG imports.