Asia News

SK Gas started operations at Ulsan GPS, a 1.2 GW dual-fuel LNG-LPG power plant, ensuring cost-efficient and stable energy production.

Chandra Asri is expanding its Butene-1 and MTBE plants in Indonesia by 25%, strengthening the domestic petrochemical industry.

ACG opened a capsule plant in Thailand to meet Southeast Asia's growing pharmaceutical and nutraceutical market demands.

Cambridge Centre for Advanced Research and Education in Singapore (CARES) is leading two projects worth USD 31M to reduce fossil fuel reliance in the chemical manufacturing industry and energy systems. One project investigates hydrogen and ammonia combustion for power generation and use in the aviation and maritime industries, utilizing a laser diagnostic system to analyze emissions.

Petronas awarded PSCs for nine fields and one exploration block offshore Malaysia. The awards include clusters in Peninsular Malaysia and Sabah, involving Dialog Resources, EPOMS, ConocoPhillips, and Petronas Carigali. The contracts were offered under the Malaysia Bid Round 2024.

P T PLN Indonesia Power (PLN IP) invited Japanese investors during the Japan RE Invest Indonesia 2024 event to join its decarbonization efforts by investing in hydropower projects, known as the Hydronesia Project, throughout Indonesia. PLN IP plans to add 9 GW of power capacity by 2030, with approximately 6 GW from renewable energy. Three hydropower projects offered under the Hydronesia Project are the Tanjung Sakti hydropower plant in South Sumatra, the Jatiluhur pumped storage plant in West Java, and the Tabang hydropower plant in East Kalimantan, with a combined capacity of 1,045 MW. PLN IP is inviting partners under a proposed ownership scheme of 51% to PLN IP and 49% to the partner, with 70% project financing support.

South Korea is set to construct its largest hydrogen fuel cell power plant, the Gangdong Hydrogen Fuel Cell Power Plant, in Gyeongju, Gyeongsangbuk-do. With an investment of USD 550M, the plant will have a capacity of 107.9 MW, generating electricity for 270,000 households annually. Construction is slated to begin in March 2025, with the plant expected to be operational by March 2028. The project addresses critical energy deficits in industrial complexes and represents a pivotal move in South Korea’s energy transition.

Nippon Steel is pursuing a USD 15bn bid to acquire U.S. Steel to grow its presence in India, Southeast Asia, and the U.S. The company exports about 70% of its output, with plans to expand its production capacity overseas due to declining domestic demand in Japan. Under the proposed deal, U.S. Steel would become a subsidiary of Nippon Steel, maintaining its name and headquarters in Pittsburgh.

Meranti Green Steel plans to build a green steel plant in Thailand’s IRPC Eco-Industrial Zone, with a capacity of up to 2.5 million tons of low-carbon hot-rolled coils per year. The plant, scheduled to start up in mid-2028, will initially use natural gas for 80-90% of its energy, supplemented by green hydrogen. Meranti aims to significantly reduce CO2 emissions during production.

YIEH HSING is investing TWD 1.05 billion to expand its Pingnan Acid Pickling Plant, enhancing stainless steel wire rod production by 2025.