Page 155 - CW E-Magazine (27-2-2024)

News from Abroad

of consumers today are focused on pertise in hydrocolloid technology and
more sustainable product choices,” said extraction of Kappa II and Lambda carr-
Mr. James Peterson, Global Vice President ageenan from fresh seaweed. The Gely
of CARE for Univar Solutions. “With Blue portfolio is based on carrageenan
that in mind, our beauty and personal extracted from seaweed species harves-
care customers are seeking sustainably ted from the waters of southern Chile.
and ethically sourced, multi-functional Gely Blue consists of six carrageenan
ingredients from suppliers like ingredients that provide natural rheology
Gelymar, and they can rely on Univar to modification and sensory enhancement
meet these needs. Gelymar’s Gely Blue products with unique textures across solutions across a wide range of appli-
cosmetic carrageenan line is a natural, beauty applications,” he added. cations, including unique gels, lotions,
multi-functional solution, which will and creams for face & body care, colour
help our customers formulate on-trend Gelymar has garnered extensive ex- cosmetics, lip care, and toothpaste.

SHELL LNG OUTLOOK 2024
China, South Asia and South-east Asia set to drive

global LNG demand growth

Global demand for liquefied natural following a slump in Russian pipe-
gas (LNG) is estimated to rise by more line exports to Europe in 2022, with
than 50% by 2040, as industrial coal- new regasification facilities helping to
to-gas switching gathers pace in China improve security of energy supplies.
and South Asian and South-east Asian European LNG imports remained at
countries use more LNG to support similar levels to 2022, despite an over-
their economic growth, according to all decline in European gas demand in
Shell’s ‘LNG Outlook 2024’. 2023.
sources of carbon emissions and local
Global trade in LNG reached 404-mt air pollution,” he noted. Relatively mild winter temperatures
in 2023, up from 397-mt in 2022, with in countries that rely on gas for heating,
tight supplies of LNG constraining Over the following decade, declin- combined with high gas storage levels,
growth while maintaining prices, and ing domestic gas production in parts of stronger nuclear power generation and
price volatility above historic averages. South Asia and South-east Asia could a modest economic recovery in China,
Demand for natural gas has already drive a surge in demand for LNG as all helped balance the global gas
peaked in some regions, but continues these economies increasingly need fuel market in 2023.
to rise globally, with LNG demand for gas-fired power plants or industry.
expected to reach around 625-685-mt However, countries in South Asia and This helped bring down and stabi-
a year in 2040, according to the latest South-east Asia would need significant lise gas prices in the key importing
industry estimates. investments in gas import infrastruc- regions of Europe and East Asia com-
ture. pared to the record highs and unprece-
“China is likely to dominate LNG dented volatility seen from late 2021
demand growth this decade as its in- The Shell report shows that gas through 2022. However, gas prices and
dustry seeks to cut carbon emissions complements wind and solar power in volatility remained significantly higher
by switching from coal to gas,” said countries with high levels of renew- in 2023 than in the 2017-2020 period.
Mr. Steve Hill, Executive Vice Presi- ables in their power generation mix,
dent for Shell Energy. “With China’s providing short-term flexibility and Despite a well-supplied global mar-
coal-based steel sector accounting for long-term security of supply. ket in 2023, the lack of Russian pipe-
more emissions than the total emissions line gas supply to Europe and a limited
of the UK, Germany and Turkey com- European energy security amount of LNG supply growth over the
bined, gas has an essential role to play LNG continued to play a vital role last year mean that the global gas mar-
in tackling one of the world’s biggest in European energy security in 2023, ket remains structurally tight.

Chemical Weekly February 27, 2024 155

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