Column: Global seaborne iron ore had a good 2024, but it’s all China
The world's imports increased a modest 3.6% to a record high in 2024, however the boost was nearly totally driven by China.
China’s second-largest energy company will invest $11.3 billion to build the country’s largest coal-to-gas project, reports Proactive Investors Australia.
Sinopec Group will construct the project in eight to 10 years in northwest Xinjiang to meet the increasing demand for natural gas. It will have an annual production capacity of 8 billion cubic metres.
Two coal mines in Zhudong, which each produce 15 million tonnes annually, will supply the nearby facility.
Sinopec will transport the natural gas through a 30 bcm/year pipeline to the southern Guangdong and eastern Zhejiang provinces.
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