A newly formed alliance in Saudi Arabia aims to address the rapidly increasing global demand for ammonia and liquefied petroleum gas (LPG).
Bahri (The National Shipping Company of Saudi Arabia) and Petredec will join forces to build a joint commercial team dedicated to meeting the expanding needs for the country’s shipping solutions.
According to recent reports from ChemAnalyst, global ammonia prices surged in the latter part of 2024 due to geopolitical tensions, supply constraints and rising demand.
Prices jumped by 1.2% in the Middle East during the week ending 8th November, largely attributed to a 3.3% rise in natural gas prices during the same week. This rise is thought to be due to the high power generation demand induced by the Russia-Ukraine war.
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