Category: Nieuws

Over the last decade, there has been a rise in drone usage at bulk liquid terminal facilities throughout the U.S. and the world.

Of course, with new technology comes both advantages and disadvantages as terminals continue to grapple with the changing physical security landscape at their facilities.

Bulk liquid terminals, which are the primary midstream storage node for bulk goods like petroleum products, chemicals, asphalt, agricultural products like molasses and beyond, house critical resources as they make their way through the supply chain from producer to end user. As such, they are a potential target for bad actors and must constantly be monitored for any deviation from their normal operation.

The primary benefits of drones in these facilities are improved overall security and safety, such as allowing blind spots and traffic flow to be easily monitored. Their remotely accessed footage and aerial maneuverability provide improved viewpoints to terminal operators quickly and efficiently. Drones can reach storage tanks, pipelines and conveyor belts for more frequent and accessible inspections. The technology can also assist with inventory assessment using specialized sensors that can accurately monitor inventory levels of bulk materials. Additionally, drones can contribute valuable insight by recording data through thermal imagery and geo-location. Current drone technologies also have features such as object-tracking, loudspeakers and high-powered lighting.

Furthermore, drone usage can help reduce the number of workers in high-risk areas, serving as an extra layer of safety defense for staff or any personnel that pass through the facilities. The technology aids supervisors in promptly detecting incidents and creating a safer environment for all. Through enhanced and streamlined routine monitoring, operators can better communicate operational disruptions or hazards, enabling onsite staff to respond more effectively. Depending on the type of drones, some may even be able to deliver emergency supplies and assistance where needed.

However, the implementation of drones is not without drawbacks. Usage can be costly depending on the model and brand, and there is also the obvious question of whether it would be utilized frequently enough for the purchase to be worthwhile. At the same time, drones can be fragile and susceptible to damage if not maintained or used with care. Another factor to consider is regulatory compliance. Incorporating the technology within industrial settings requires that certain regulations and permits be followed, adding another potential level of regulatory burden to a site’s operations. Technical aspects like high-speed network connectivity for proper performance can be a liability as well.

The timeframe for regular drone usage could also vary. It could take some time for users to adjust and learn to navigate the technology before it could be fully incorporated into regular employment. It is important to consider that if any drone usage were to take place outdoors, adverse weather conditions such as heavy rain, wind or fog could hinder visibility. The unpredictability of these situations could lead to potential delays and disruptions.

There’s a chance that drones could be misused if security protocols and weaknesses are exploited, potentially putting them in a vulnerable position. The large amount of sensitive data recorded in the technology requires protection to prevent any form of unauthorized access to it.

All these points are internal concerns within a terminal facility. Given their small and quiet construction, external actors could use drones to monitor a site’s security setup and routines, potentially allowing them to find gaps. The various imaging capabilities of drones could also be used maliciously to target specific products on site, raising a location’s threat factor.

As technological developments like drones evolve and become further incorporated into terminal facilities, it is important to consider the different aspects of how they could affect the entire operation of the establishment. Only with time and further advancements will we understand the net advantages gained with this new branch of terminal operations.

BY JAY CRUZ / 26 june 2024

China appears to have taken advantage of low prices in the spot market so far in 2024 to boost the amount of gas in storage, absorbing some of the extra fuel that would otherwise have been sent to Europe.

But as storage facilities fill and spot prices rise, the intake is likely to taper over the summer, redirecting more liquefied natural gas (LNG) cargoes to Europe and accelerating the fill rate at the other end of Eurasia.

To the frustration of foreign analysts, China does not publish statistics on gas, oil or coal inventories, which are considered commercially sensitive and a matter of national security.

But the country consumed a record 55 million metric tons of gas from overland pipelines and sea-borne LNG in the first five months of 2024, according to data from the General Administration of Customs.

The intake rose from 47 million tons in the first five months of 2023 and 46 million in the same period of 2022, when Russia’s invasion of Ukraine sent spot gas prices soaring.

It comfortably exceeded the pre-invasion record of 50 million tons set in the first five months of 2021.

LNG imports ran above prior-year levels every month between January and May, and pipeline imports were also above prior-year levels in every month except April.

At the same time, domestic production surged to a record 76 million tons in the first five months of 2024 from 72 million tons in 2023, 68 million tons in 2022 and 64 million tons in 2021.

Output from Sichuan, easily the largest gas-producing province, has doubled since 2016, as the government has prioritised expansion of domestic fields to reduce reliance on imports.

As a result, the total amount of gas available from domestic production and imports hit a record 130 million tons in the first five months of 2024, up from 118 million in 2023 and 114 million in 2021.

China continues to connect more urban households to the gas network to reduce coal burning and improve air quality.

But the enormous increase in the amount consumed so far this year far outstrips additional demand from households and industry.

Much of the extra imported gas has likely been used to top up domestic storage after inventories were allowed to deplete in 2023 and 2022.

ACTIVE MANAGEMENT

China has a long tradition of actively using government-run inventories to stabilise commodity prices, which has been seen as a core function of the state.

In imperial China, the government’s “ever-normal granaries” purchased surplus grain when supplies were plentiful and sold when supplies were low to stabilise prices at a moderate level.

In recent years, the same active approach has been extended to oil, copper, aluminium and other commodities. Now there are signs it is being applied to gas via changes in LNG imports.

China’s importers have contracted large volumes of LNG from Qatar, Australia, Malaysia and a host of other smaller exporters, but in some cases they have been able to insist on flexibility to resell to third countries.

The result is that China can adjust LNG imports and inventories in response to changes in spot market prices.

In 2022/23, flexibility was employed to trim LNG imports and run down inventories in response to surging spot market prices. In 2024, the flexibility has been employed in reverse to take in more cheap gas and refill storage.

But spot market prices for gas delivered to Northeast Asia have climbed to an average of more than $12 per million British thermal units so far in June, up from less than $9 in February and March.

Prices are no longer especially cheap compared with prior years. China is likely to reduce discretionary purchases and slow the rate of inventory accumulation.

As it backs away from the spot market, more LNG will be sent to Europe as well as price-sensitive customers in south and southeast Asia.

By Reuters, John Kemp / June 24, 2024

Oil refiners are making less money selling their gasoline as demand during the peak summer driving season has fallen short of what they expected when many of them boosted production.

Softness in gasoline markets have upended years of record profits on selling transportation fuels. In the U.S., the world’s largest gasoline market, refiners ramped up sharply, expecting demand that never materialized. U.S. gasoline demand was 9 million barrels per day (bpd) in the first week of June, 1.7% below last year and seasonally the lowest since 2021, government data showed.

In Asia, weakness in the gasoline market has already led to run cuts, and refiners elsewhere are also likely to pull back in weeks ahead. This could reduce global demand for crude oil.

“Given the retreat from elevated margins, we cite risk to refiners’ continued maximum output strategy to reap record profits,” BMI, a unit of Fitch Solutions, said in a note last month.

Brent oil prices are down about 9% from a mid-April peak to around $83 a barrel, most recently on concerns that the OPEC+ producer group will add supply to the market. The producer group last week warned that a slow start to the summer driving season and low margins are weighing on sentiment.

Even with crude prices slipping, Asian refiners’ profit on making gasoline from a barrel of Brent halved in the last week of May to about $4 per barrel. A glut of fuel supplies prompted the fall in refining margins, Wood Mackenzie analyst Priti Mehta said.

Overall refining margins fell under $2 a barrel in Singapore in May, compared with an average of $5 a year ago.

European gasoline refining margins fell to $10.80 a barrel on June 13, the lowest since January 25. U.S. gasoline crack spread, the difference between gasoline futures and the cost of WTI crude oil , was under $22.50 a barrel for the first time since February.

PULLBACK

Taiwan’s Formosa Petrochemical Corp, one of Asia’s largest refined products exporters, plans to cut run rates at its crude distillation units in June to 440,000 bpd, down 40,000 bpd from its original plan to process 480,000 bpd.

“Increased flows from the Middle East to Asia and increased Indian exports are weakening the cracks, otherwise demand in Asia is healthy,” a spokesperson for Formosa told Reuters.

U.S. demand has been pressured by a mix of factors, including more people flying instead of driving long distances and more fuel-efficient cars and electric vehicles, UBS analyst Giovanni Staunovo said last month.

Higher output from American refineries, combined with weak demand, has lifted U.S. gasoline stockpiles by 5.7 million barrels since the start of April to 233.5 million barrels by June 7, the highest for this time since 2021.

U.S. refiners cut run-rates to 95% in the week ended June 7, after utilizing a one-year high of 95.4% in the prior week, U.S. Energy Information Administration (EIA) data showed. That was the first cut since April.

They will need to lower rates further if demand remains lackluster, Mizuho analyst Robert Yawger said.

“We’re looking at the potential for one of the worst years for summer U.S. gasoline demand in the post-COVID world. No way that refiners can continue to crank fuels at 95% utilization,” he said.

The EIA on Tuesday lowered its forecast for U.S. gasoline consumption this year to 8.89 million bpd from an earlier estimate of 8.91 million.

OVERWHELMING SUPPLY

Margins should improve as U.S. gasoline rises as it typically does throughout the summer, Rabobank strategist Joe DeLaura said. Yet he warned the market has consistently underperformed.

Margins should get some support from a slower-than-expected ramp up of new refineries such as Mexico’s Olmeca refinery in Dos Bocas, which is aiming to lower the country’s import needs. As of May, however, Dos Bocas was behind schedule and did not produce commercially viable gasoline and diesel. In Nigeria, the Dangote refinery delayed gasoline deliveries until July.

The market must still adjust to overwhelming supply growth from new refineries ramping up and expansions of existing plants which have boosted fuel exports from the Middle East, India and China.

Gasoline exports from the Middle East have been at seasonal records over the last six months, according to Kpler data.

Indian and Chinese refiners are taking advantage of access to discounted Russian oil, Mehta said. Their higher supplies are likely to keep Asian gasoline cracks under pressure through the summer, she said.

“The peak for gasoline (cracks) was already reached in April, when cracks averaged $17.3/bbl Dubai crude in Asia. We don’t expect them to strengthen a lot through the summer period,” Mehta said.

Chinese gasoline exports grew by about 100,000 bpd in May from April, ending last month at around 350,000 bpd, according to WoodMac. Indian gasoline exports averaged 360,000 bpd in May, up 50,000 bpd on the month.

By: Reuters / June 18, 2024

U.S. crude oil refining capacity rose 1.5% to 18.38 million barrels per day (bpd) this year, a government report showed on Friday as a major new expansion in Texas boosted capacity.

The Energy Information Administration (EIA) said the figures indicate capacity online as of Jan. 1, which reflected for the first time the startup last year of an about 250,000 bpd expansion to Exxon Mobil’s Beaumont, Texas, refinery.

The gain was a second year in a row of increases due to expansions at existing operations. Still, processing capacity at the start of 2024 remained more than 500,000 bpd below the 2019 peak of 18.98 million bpd, which came before a wave of plant closures and conversions during the COVID-19 pandemic.

Refiners process crude oil into gasoline, diesel, jet fuel and other products.

Marathon Petroleum Corp remained the largest refiner in the United States, able to process up to 2.95 million bpd, or 16% of the country’s total, at its 13 U.S. plants, the EIA report showed.

Valero Energy Corp (VLO.N) was the second-largest U.S. refiner by volume with its 2.21 million bpd capacity equal to about 12% of the total.

Exxon was third largest with nearly 1.95 million bpd after a $2 billion expansion to its Beaumont refinery came online in spring, 2023, raising that facility’s processing capacity to 609,000 bpd.

The fourth largest refiner, Phillips 66, can process 1.39 million bpd while the fifth and sixth largest – PBF Energy and Chevron Corp – can each process more than 1 million bpd.

The sixth-largest refiner, Citgo Petroleum, is facing a court-ordered auction of shares in its parent that could lead to a change in ownership before the summer ends. Court officials are reviewing multi-billion-dollar bids for the shares and have scheduled a hearing on the offer in July.

By: Reuters / June 18, 2024

Glocal Green and Norwegian Hydrogen will collaborate on the development of green hydrogen in conjunction with bio-methanol production.

The two companies entered into a Letter of Intent two years ago and have now agreed to establish hydrogen production that will be connected to Glocal Green’s planned bio-methanol plant.

The concept will combine bio-waste and hydrogen, with the energy from the biomass, together with the energy from the added hydrogen, providing an “outstanding yield” to the input power, resulting in a green liquid hydrogen carrier at a competitive price.

The initial project is in Oyer, Norway, and will have an annual production of 150,000 tonnes of bio-e-methanol, which will involve local production of 15,000 tonnes of green hydrogen from electrolysis.

The hydrogen production will be organised into a separate, joint owned company.

Glocal Green’s CEO, Dag Nikolai Ryste, explained that the two-year study carried out by the companies has now resulted in a “clear win-win model between the parties.” He added, “This efficiency will benefit all other parties along this holistic value chain, and not least the market.”

Jens Berge, CEO of Norwegian Hydrogen, added, “By combining our resources and expertise, we can offer sustainable solutions that meet the increasing demand for green fuels.”

Beyond the initial project in Oyer, the two organisations will aim to develop similar projects in the Nordic region, before potentially expanding.

By: H2 View / June 18, 2024

Abu Dhabi National Oil Co (ADNOC) and Saudi Aramco are among companies weighing bids for oil major Shell’s downstream assets in South Africa, Bloomberg News reported on Friday, citing people familiar with the matter.

South Africa’s Sasol is also considering an offer for the business, which could be valued at more than $800 million, the report said.

Puma Energy, a unit of Swiss-based Trafigura Group, and Glencore are also some potential suitors that could study the assets ahead of a bid deadline in the coming weeks, the Bloomberg report said.

“We have been approached by several highly credible parties which cannot be disclosed at this stage,” a Shell spokesperson told Reuters.

ADNOC did not immediately respond to a Reuters request for comment. Aramco was not immediately available for comment, while Glencore, Trafigura, Puma Energy and Sasol said they had no comment on the matter.

“We do not comment on confidential M&A or commercial matters and do not respond to market speculation,” a spokesperson for Sasol said in an email response.

Deliberations are in early stages and other bidders for the assets could also emerge, Bloomberg News said.

Earlier this month, Shell said it will divest its majority stake from a local South African downstream unit after a comprehensive review of its businesses across all regions.

Shell Downstream SA (SDSA) was formed after Shell South Africa and Thebe Investment Corp agreed to merge Shell South Africa Marketing and Shell South Refining a decade ago.

By: Reuters / May 27, 2024.

Hess Corp on Tuesday approved the company’s $53 billion merger with the No. 2 U.S. oil company Chevron, according to preliminary results of the vote.

The merger required a majority vote to approve the deal by a majority of Hess’ 308 million shares outstanding to pass. The company did not immediately provide the vote tally.

Chevron offered to acquire Hess last October in a move to gain a foothold in oil-rich Guyana’s lucrative offshore fields. The deal has been stalled by an ongoing review by the U.S. Federal Trade Commission and clouded by an arbitration claim filed by Hess’ partner in Guyana, Exxon Mobil and CNOOC.

The result is a win for Hess CEO John Hess and puts to rest claims by some shareholders who wanted additional compensation for the delay in closing the sale. Exxon’s arbitration could push the deal’s closing into 2025.

“Assuming Chevron wins the arbitration from Exxon or finds a settlement, the transaction is now going to happen,” said Mark Kelly, an analyst with financial firm MKP Advisors.

By: Reuters / May 29, 2024

Despite a production cut extension by OPEC, the oil market remains oversupplied.

The outcome of OPEC’s meeting on June 2 does not obscure our view that it still operates from a position of weakness in an oversupplied oil market.

OPEC extended three production cuts further into 2025, for a total cut of 5.86 million barrels per day. Importantly, OPEC signaled in this announcement that the monthly increases phasing out the production cut can be “paused or reversed subject to market conditions”—in other words, if the market remains oversupplied.

On the gas side, we think the European storage and gas outlook remains strong. European storage levels remain at extremely healthy levels, while gas prices are near levels before the Ukraine/Russia conflict began. The challenge for the EU is now maintaining this relatively healthy status quo.

Much of the work by the EU is now focused on optimizing the cost structure for the EU gas pipeline system, including figuring out what to do with pipelines that formerly moved Russian gas.

3 Key Themes for the Oil & Gas Industries

Oil prices look weak, and we expect more weakness. On a quarterly basis, oil prices look weak, and we expect continued weakness, with $65-$70 a barrel (West Texas Intermediate) a likely possibility in 2024, if not lower. We see the OPEC production cut extensions (most of which now go through the end of 2025) as a sign of weakness, not strength. Further, Saudi Arabia is selling almost $12 billion of stock in state-run Aramco, indicating both its need for cash to fund Vision 2030 efforts and its inability to defend oil prices.

Gas prices spike due to production cuts. We mainly attribute recent strength in gas prices to US producers cutting near-term gas production in response to weak prices. The timing of the production cuts was well-timed. The market’s attention has now shifted to growing 2025 gas demand coming from new US liquefied natural gas terminals and potential US gas growth from artificial intelligence and data center demand by 2030. We estimate incremental gas growth between 7 billion and 16 billion cubic feet per day by 2030.

Energy stock performance driven by mergers and acquisition and AI. The US energy space outperformed the market this past quarter. We attribute this outperformance to a string of M&A announcements that have been favorably received by the market, including Diamondback FANG/Endeavor and ConocoPhillips COP/Marathon MRO on the oil side. On the gas side, we think that higher US gas prices and the increasing potential of AI and data center demand has contributed to strong performance for both US gas producers and gas-oriented US midstream firms.

Our Forecasts: Oil & Gas Industries

We remain more bearish on US oil rig count and oilfield drilling activity in the near to medium term.

Rig count has been a bit stronger than expected since our last forecast. Producers have been keeping oil drilling activity higher than expected to recover from lower-than-expected production during the winter caused by severe weather. We expect this strength will continue for at least another quarter until producers make up lost production.

Over the medium term, we expect ongoing drilling and rig count efficiencies amid continuing industry consolidation, particularly as private operators can no longer pursue growth under public ownership. ExxonMobil XOM and APA APA each closed deals for Pioneer and Callon, while Chevron CVX and Diamondback are working to close Hess HES and Endeavor. Of course, the recent Marathon/ConocoPhillips deal could add further production efficiencies.

By; Morningstar , Stephen Ellis / Jun 11, 2024

Bullish sentiment appears to be building in oil markets as summer demand for fuel kicks in, pushing Brent back above the $81 per barrel mark.

Supply disruptions have ratcheted up pressure on gas prices globally, with prices across Europe, Asia and the United States simultaneously edging higher to their highest in 2024 so far.

European TTF gas futures soared 13% in one day after cracks were found in Equinor’s Sleipner platform and even though the repairs concluded already, the regional benchmark continues to hover around €35 per MWh ($11 per mmBtu).

A string of Australian force majeure events, the latest of them coming from Chevron’s Wheatstone facility which was forced to halt production after an outage this Monday, has pushed the regional LNG prices to $12 per mmBtu already.

Sentiment around natural gas in the US has improved markedly, too, with Henry Hub closing above $3 per mmBtu for the first time since early January 2024 and hedge funds’ positioning turning sustainably net long after two years of suffering. 

Market Movers

Global trading major Glencore (LON:GLEN) has won a crude supply tender to Prax’s 113,000 b/d Lindsay refinery in the UK, dealing a painful blow to trading competitor Trafigura which used to be Prax’s main supplier. 

Warren Buffett’s Berkshire Hathaway (NYSE:BRK) bought some 2.57 million shares of common stock in Occidental Petroleum (NYSE:OXY), further increasing its ownership of the oil majors from the 28% stake it had up until now. 

French major TotalEnergies (NYSE:TTE) agreed to purchase the UK power generator West Burton Energy from EIG for a total of $576 million, boosting its gas capacity by 1.3 GW and renewables by 1.1 GW. 

Following weeks of lukewarm demand statistics, we might finally be on the brink of seeing summer demand kicking in. A reported jet fuel shortage in Japan, Goldman Sachs’ relatively bullish view on transportation fuel demand over the summer, and the prospect of a US SPR replenishment boost have lifted Brent futures above the $81 per barrel mark. 

Return of OPEC+ Barrels Triggers Huge Sell-Off. Portfolio investors exited a record amount of long positions in the week ending June 4 as the prospect of OPEC+ bringing back production into 2025 soured the bullish sentiment, selling a total of 194 million barrels in the six leading futures contracts. 

Iraq Eyes Restart of Idled Kurdish Pipeline. Iraq’s oil minister Hayan Abdel-Ghani noted progress in negotiations with Kurdistan regional officials on a potential deal to resume oil exports via the idled 450,000 b/d capacity Kirkuk-Ceyhan oil pipeline, halted since March 2023. 

Saudi Aramco SPO Exceeds Expectations. The shares of Saudi national oil company Saudi Aramco (TADAWUL:2222) gained this week after the company raised $11.2 billion in its secondary share offering, with at least half of sales reportedly going towards international investors. 

New Zealand Makes U-Turn on Oil Exploration. The government of New Zealand vowed to introduce legislation that would remove a disputed ban on offshore oil exploration, in place since 2018, by the end of this year, reversing the oil policy of the previous center-left Labour government. 

Niger-Benin Spat Turns Ugly Again. Having just loaded the first-ever Meleck cargo last month, exports could halt again as the Benin-Niger geopolitical spat took another turn this week, with the former arresting 5 people it believes to be Nigerien soldiers working undercover at the port of Seme. 

Japan to Fund New Nuclear Plants with Bonds. Japan’s Kansai Electric Power is planning to issue transition bonds to finance future nuclear power projects, aiming for some ¥30 billion ($190 million), the second Japanese firm in two months to turn to bonds as a nuclear financing tool. 

Russia Seeks Iran Corridor to India. Russia has announced it plans to export coal to India via Iran’s railway network system as Moscow seeks to ramp up supplies to the world’s second-largest coal consumer, to be ultimately shipped from the Iranian port of Bandar Abbas. 

Houthis Strike Two Western-Owned Container Ships. Houthi militias have targeted two container ships this week, the Swiss-owned Tavvish and the German-owned Norderney, damaging both with anti-ship ballistic missiles some 70 nautical miles southwest of Aden. 

Suncor Triggers the Ire of Environmentalists. Environmentalist groups sued Canada’s leading oil firm Suncor Energy (TSO:SU) for alleged air pollution violations at its 98,000 b/d Commerce City refinery in Colorado, claiming they’ve recorded more than 1,000 emission violations in 2019-2023. 

IEA Sees Upstream Investment Growth Slowing Down. The International Energy Agency forecasts that global upstream spending would increase by 7% this year to $570 billion, slightly lower than the 9% year-on-year pace of 2023, insisting that it’s much more than is needed. 

Chinese Demand for Saudi Crude Weakens. Saudi crude exports to China are expected to bottom out in July as Chinese refiners nominated only 36 million barrels for next month, opting for other sources of crude as Middle Eastern barrels get more expensive as margins flatten out. 

Port of Baltimore Fully Reopens After Tanker Crash. Less than three months after the Dali tanker crashed into the Francis Scott Key Bridge the port of Baltimore has fully reopened as the operating dimensions of the navigation channel were lifted to 700 feet wide and 50 feet deep. 

Oil Sands Producers Riot Against Emissions Cap. Canada’s leading oil producers have objected to the government’s plan to cap emissions, saying that a carbon tax would be the preferred way of climate impact mitigation, as limiting emissions would also impact future production growth.

By Oilprice, Michael Kern / Jun 11, 2024

JGC Holdings Corporation’s representative director, chairman and CEO, Masayuki Sato, announced that JGC Corporation, under the leadership of representative director and president Farhan Mujib, will introduce verified 3D printing technology at the Zuluf AH Oil Increment Central Processing Facilities in Saudi Arabia. JGC Corporation manages the overseas engineering, procurement, and construction business for the JGC Group.

Aramco, one of the world’s largest integrated energy and chemicals companies, aims to support energy security and affordability while promoting sustainable practices in all its operations and projects. The incorporation of 3D printing technology aligns with Aramco’s objectives by reducing the environmental impact of manufacturing, lowering waste and energy usage, and improving construction productivity.

Since October 2021, JGC has been verifying the application of a gantry-style concrete construction 3D printer, purchased from COBOD International A/S of Denmark, for the piping support structures (foundation formwork) of a biomass power generation project in Ishinomaki City, Miyagi Prefecture. This project is executed by JGC Japan Corporation, the domestic EPC company of the JGC Group.

This initiative has garnered significant attention from various clients. Following discussions with Aramco, JGC received an order to introduce a 3D printer to print the exterior wall, approximately 340 square metres, of chemical storage buildings. This is part of Aramco’s Zuluf AH Oil Increment Central Processing Facilities project, for which JGC was awarded the contract in May 2022. By transitioning to on-site 3D printing instead of using on-site precast formwork, JGC aims to establish a new approach to overseas printing work. The company is collaborating with local partners in Saudi Arabia, including one that owns COBOD’s large-scale 3D printer, with plans to commence 3D printing work in the summer of 2024.

JGC will continue to actively promote the integration of advanced technology in plant construction projects across the Group’s companies. The goal is to adopt 3D printing technology during the construction phase to enhance efficiency and address the issue of construction labour shortages.

By: Storage Terminals Magazine / June 10, 2024