Singapore LNG Wants to Extract Chemicals from LNG
Singapore LNG Corp, operator of the city-state's liquefied natural gas (LNG) terminal, is designing a new facility to extract chemicals from the super-chilled fuel, in a project that could help boost the island's energy security.The company said on Wednesday it is working with Keppel Infrastructure through its wholly-owned subsidiary Keppel Energy and another industry partner on front-end engineering and design (FEED) for a natural gas liquids extraction facility at the terminal in Jurong Island…
China Planning $100 bln Merger of Sinochem, ChemChina
Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertilizer and oil giant with almost $100 billion in annual revenue, reports Reuters. The deal was reportedly proposed by China’s central government. “The government has given the mandate to let Sinochem lead in this potential merger with ChemChina,” said a source. The combination of the two Chinese rivals is part of a broader strategy by the regulatory body that oversees the country’s state assets to merge state-owned companies to create larger and stronger national champions, says FT. The talks come as doubts have been raised in the Chinese media over the ability of ChemChina to close its acquisition of Syngenta…
Oil Train Risks Impact U.S. School Kids
Thousands of U.S. schools sit along rail corridors used to carry toxic substances such as crude oil and would be at risk in the event of a derailment, an environmental group said on Tuesday as it called for a temporary halt on oil trains. ForestEthics said its analysis of U.S. Department of Education data show nearly 15,000 schools with 5.7 million students sit inside the so-called 'blast zone', the one-mile area along railroad tracks the U.S. Department of Transportation (DoT) recommends be evacuated in case of crashes. The DoT moved in May to lower maximum speeds to 40 miles per hours in cities, phase out older tank cars that can puncture, have carriers use safer routes, and require better brakes after a string of accidents.
Marseilles Predicts Bulks Recovery
Cargo throughput at the Port of Marseilles-Fos to the end of November was marked by sustained growth in container and liquid bulks traffic, while passenger numbers continued to be boosted by the cruise sector. In contrast, oil and dry bulk volumes fell by a combined five million tonnes compared with the first 11 months last year to leave the cargo total down 4.3% for the period on 87.9MT. The port authority says that 2008 throughput should recover to the 2006 level of more than 100MT as the Fos Cavaou methane terminal, a second Arcelor-Mittal steel foundry and the Cap Vracs clinker and cement works come on stream. Among the 2007 high spots, January-November container traffic rose 4.5% to almost 908,000 teu, with east-west trades via Fos up 8.1% on 647,000 teu.
