Last month, the regional spotlight shined on the North Pacific, where economic growth had averaged at 7.5% per annum (p.a.) over the past decade. In the South Pacific, commendable levels of growth have also been achieved over the same period, averaging at 6.8% p.a.
This same regional trend has filtered down into the respective industrial gas markets, with the North witnessing very high growth, chiefly thanks to China, and the South Pacific also enjoying good growth, but not quite at the same level.
However, a shift in this trend is beginning to emerge. Large-scale manufacturing and industrial projects are beginning to move away from their traditional bases in North Pacific, to the more attractive business climes of South, which will in turn benefit the various gas markets in the region.
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