Asia's demand for Liquefied Natural Gas (LNG) increased in the week ending January 30. The increase in LNG demand in Asia stemmed from improvements in market sentiment, with China and India both showing modest increases. The two countries showed caution when returning to the market due to expectations of less strained global supply chains, lower than expected global prices for LNG, and an increase in the amount of LNG being produced globally. In China, demand for LNG was driven by increased demand for electricity and urban gas, as well as interest in launching the yuan-denominated futures contracts for LNG. Demand for LNG in India was driven by fertiliser, city gas, refining and power generation; however, price sensitivity was still an issue. The improvement in LNG demand in both markets of approximately 2% overall confirms that these two markets are major influencers of the overall growth of LNG globally.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
