Page 162 - CW E-Magazine (4-2-2025)

News from Abroad

OUTLOOK
IEA expects global natural gas market to remain

tight in 2025

Global natural gas markets are set requirements and further tighten global
to remain tight in 2025 as demand market fundamentals in 2025, the report
continues to rise and supply expands notes. Due to tighter market fundamen-
more slowly than before the pandemic tals, growth in global gas demand is
and energy crisis, according to the forecast to slow to below 2% this year.
latest quarterly ‘Gas Market Report’ As in 2024, the growth is set to be largely
published by Paris-based International underpinned by markets in Asia, with
Energy Agency (IEA). the region expected to account for over
the same time, below-average growth in half of the rise in global gas demand.
The report, which provides a review liquefied natural gas (LNG) output kept
of market developments in 2024 and supply tight, while extreme weather “Gas market fundamentals have im-
an outlook for 2025, finds that markets events added to market strains. Accord- proved over the past year, but for now,
moved towards a gradual rebalancing ing to the report, similar dynamics are we are still seeing significant tightness
last year after the supply shock that expected to persist in 2025 before the due to rising demand and muted growth
followed Russia’s full-scale invasion arrival of a wave of new LNG export in LNG capacity. Heightened geopoli-
of Ukraine in February 2022. Still, the capacity, led by the US and Qatar, that tical uncertainty adds to the risks,”
global gas balance has remained fragile, is set to come online over the course of said Mr. Keisuke Sadamori, the IEA’s
highlighting the need for greater the second half of this decade. Director of Energy Markets and Security.
international cooperation to enhance “While international cooperation on
gas supply security. Geopolitical tensions have conti- gas supply security has expanded since
nued to fuel price volatility in gas mar- the recent energy crisis began, greater
Driven by fast-growing markets in kets. Though the halt of Russian piped efforts are needed from responsible
Asia, global gas demand rose by 2.8%, gas transit via Ukraine on January 1, producers and consumers, who should
or 115-billion cubic metres (bcm), 2025 does not pose an imminent supply strengthen their collective efforts to
in 2024 – well above the 2% average security risk for the European Union, it reinforce the architecture for safe and
growth rate between 2010 and 2020. At could increase European LNG import secure global gas supplies,” he added.

TRADE WARS
China imposes provisional duties on polyacetal

copolymers imports from US, EU, Japan and Taiwan

China is set to apply provisional in May, the same week that US hiked November last year, customs data
duties on imports of polyacetal copoly- tariffs on Chinese electric vehicles and showed. The copolymers can partially
mers from the US, EU, Japan and the EU launched a trade investigation replace metals such as copper and zinc
Taiwan after a months-long anti-dump- into certain Chinese steel imports. The and have various applications includ-
ing investigation. The provisional anti- nine-month investigation announced ing in auto parts, electronics, and
dumping levies range from 3.8% to its findings days before Donald Trump medical equipment.
74.9% depending on the country and took office.
company and will commence from The highest duties will apply to US
January 24, the Commerce Ministry said China imported roughly 3-bn firms, while EU companies will face a
in a statement. yuan ($409-mn) worth of polyacetal 42% duty. The majority of Taiwanese
copolymers from the US, Japan, Taiwan and Japanese companies will face
China launched the investigation and Germany between January and duties of 32.6% and 43.7%, respectively.

162 Chemical Weekly February 4, 2025

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