Kentz Corporation Limited (LSE: KENZ) Contract Extension
Kentz Corporation Limited has announced a services contract for a refinery project in Qatar. The contract extends Kentz’s existing relationship with Qatargas and its role in supporting the management of Qatargas’s Laffan Phase 2 Refinery Project for the next 3 years. The expansion project will process an additional 146,000 barrels per day of North Field condensate. In total, this second phase will double the current output of the refinery which produces a combination of naphtha, jet fuel, gasoil, and liquid petroleum gas.
China’s Energy Addiction
China is both the largest producer and consumer of coal in the world. The Middle Kingdom derives as much as 80% of its electricity from the black energy source, a fact that has resulted in life-threatening levels of pollution. The fact is there’s nowhere in the world you’ll find smog thicker than in the city of Beijing, and officials are desperate for a solution.
One of China’s greatest sources of pollution relief will come in the form of natural gas. An $8 billion project is expected to replace four of Beijing’s coal-fired plants. These plants account for a total of 40% of the city’s current consumption, which means that China will be looking to LNG abroad to fill its energy needs. To learn about the companies that will fill China’s energy gap, click here.