18-20 Nov, 2013 - Doha, QATAR
The St. Regis Doha
The St. Regis Doha
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At a press conference held in Doha last week, key officials from Qatar International Petroleum Marketing Company (Tasweeq) affirmed its commitment to the global LPG industry by playing host to CMT's 8th LPG Trade Summit in Doha on 18-20 November 2013. While CMT is the organiser of the premier conference, Tasweeq is the official host.
The event held under the patronage of HE the Minister of Energy and Industry, Dr. Mohamed bin Saleh al-Sada, will be officially opened by His Excellency on November 18, 2013 at 8.30 am in the presence of several dignitaries from the energy industry.
Saad al-Kuwari, Tasweeq Chief Executive Officer of Tasweeq unveils that this 2013 edition will spotlight on "balancing global LPG trade and shipping market dynamics amidst capacity changes".
The event aims at bringing together top level players from across the world, including LPG producers, petrochemical producers, end-users, global trading companies and marketers, international and national oil companies, as well as charterers, shipping companies and industry experts in the global.
Saad al-Kuwari, Tasweeq chief executive officer of Tasweeq will deliver the plenary keynote session along with Ian Taylor, President and CEO of the VITOL Group and Michael F. Conway, President of Shell Trading.
Abdulrahman Abdulla al-Obaidly, public relations and communications manager of Qatar Petroleum further added, "QP is glad to support the summit as the platinum sponsor. HE Dr. Mohamed bin Saleh al-Sada is very keen in further expanding Qatar's energy portfolio and in finding new markets worldwide through the hosting of such international events, where current energy trends, challenges and solutions are discussed at length".
Also present at the press conference is CMT's Managing Director G Seelan, who said, "With the importance that Qatar plays on the international LPG trade, we are very pleased to join hands with Tasweeq to bring to Qatar challenging yet lucrative topics and discussions with renowned energy leaders and speakers."
The summit expects at least 300 top-level participants from all over the world. For more information about the event visit the official event page or contact Ms. Huiyan at huiyan@cmtsp.com.sg or +65 63469113. |
11 Nov, 2013
Work on the Panama Canal expansion project is going on in full swing and is expected to be completed by 2015. Once completed, the canal will allow large vessels such as very large gas carriers (VLGCs) and LNG vessels to pass through the canal very easily.
As per Bernstein Research report recently, arbitrage flow of LPG from the US to Asia will get the maximum boost once the Panama Canal opens for business.
In the current sailing routes, LPG and other petrochemical carriers have to use the Cape Horn route that takes about 41 days or the Suez Canal route that takes 43 days to reach the Asia Pacific from the East Coast of US. The Panama Canal will reduce this sailing time to 25 days.
It will not only save time, but also reduce shipping costs by 30-50%. The cost of shipping the US LPG to east Asia will be reduced to about $100/mt from the current $150-200/mt when carried via Cape Horn. This will lead to a demand of more LPG from the US and further put downward pressure on Middle East LPG export prices.
As per current estimates, US exports about 5 million mt of LPG per year, which is expected to grow to 10 million mt/year by 2015. By 2020, the US will overtake countries like Qatar and Saudi Arabia as the world's largest LPG exporter with over 20 million mt of LPG exports annually.
Apart from LPG, LNG trade flow on the US-Asia route will also expand once the Panama Canal is operational.
About 40% of the global LPG consumption and about 75% of global LPG demand growth is from the Asia-Pacific region.
Demand for LPG is growing in Asia. It is increasingly used as a feedstock for propane dehydrogenation units, which convert propane to propylene. China has recently approved the construction of 17 PDH units that will require 12 million mt/year of additional LPG. It's specualated that China will turn to the US to meet this demand.
For more details on the world LPG trade, attend 8th LPG Trade Summit in Doha, Qatar on 18-20 November, 2013. Hear Silvia de Marucci, Senior Specialist for Liquid Bulk Market Segment, Panama Canal Authority elaborate on 'The Panama Canal Expansion & Impact on LPG Trade' at the premier event.
Get more information on the event on the official webpage or contact Ms. Huiyan at +65 6346 9147 or huiyan@cmtsp.com.sg
30 Oct, 2013
Japan was dependent on nuclear output for meeting its utilities demand, has switched to LPG for fulfilling these requirements. This shift occurred after the March 2011 devastations that paralysed Japan’s nuclear facilities. Moreover, the heatwave in Japan in recent months has further fuelled the demand for utilities; thus increasing the demand for LPG too.
Tokyo-based Astomos Energy Corp., one of world’s and Japan’s largest LPG players, has increased its US LPG purchase from Enterprise Product Partners to 800,000 metric tons a year of LPG from 2017 to 2018, which marks a rise of 200,000 tons from an earlier contract. Although Astomos supplies LPG to the Japanese local market, the company is also an active trader in the Asia-Pacific region. The company resells cargoes from its term contracts with Middle Eastern producers and also purchases LPG from non-Middle East suppliers such as East Timor and Australia.
This move by Astomos will further impact Japan’s LPG imports from the U.S, which has already rose 48% in the six months ending June 30, 2013 to 390,000 tons as compared to the same period the previous year. Such rise in imports from the US is attributed to the shale-gas boom. If such trends continue, Japan’s LPG consumption is expected to rise 5.6 percent to about 16.1 million tons in the year ending March 2014, as estimated by a government panel a June report, citing a projected economic recovery.
At present, a total of around 10 million mt/year of LPG is bought and supplied by Astomos which accounts for approximately 15% of the global LPG trade. The company further plans to expand it to around 12 million mt/year by 2015 by developing demand from major end-users.
To get more updates on the future plans of Astomos, attend 8th LPG Summit in Doha, Qatar on 18-20 November, 2013, where Mr. Tsutomu Yagi, Deputy GM, Supply & Trading from Astomos Energy Corporation will deliver a session on ‘Demand growth in Asia’s Traditional Market – Japan’.
For more information about the event click here.
For registrations and media enquiries, please get in touch with Ms. Huiyan at huiyan@cmtsp.com.sg or Tel. +65 6346 9113.
01 Oct, 2013
With two new gas projects coming onstream, Abu Dhabi’s LPG output is set to see a stark increase of 3.6 million mt from this year’s output to 13.761 million mt by 2017, rocking Qatar’s status as the top Middle Eastern LPG producer and exporter.
The two new gas projects comprise of the 3.3 million mt/yr Integrated Gas Development and 810,000mt/yr Shah Gas Development, both slated to come onstream in the fourth quarter of 2013 and 2014 respectively.
LPG production in Abu Dhabi is forecasted to see an 11-12% increase over the next two years before slowing down to hit 13.761 million mt in 2017. Despite the substantial growth, the actual export values cannot be determined as the region’s domestic demand is growing as well.
Apart from potential increase in power utilities, Abu Dhabi will also see a greater cut of LPG going towards the petrochemical sector with the development of Madeenat ChemaWeyaat Al Gharbia chemicals industrial city in western Abu Dhabi. Fortunately, Qatar’s increased attention in its petrochemicals sector will also see an increased consumption in Qatar’s LPG feedstock.
With new projects and plans coming onstream, the LPG sector in Middle East remains competitive, presenting multiple opportunities and possibilities. Industry leaders are set to convene in Doha this November 18-20 at CMT’s 8th LPG Trade Summit for more timely updates, discussions and networking opportunities.
For more information on the 8th LPG Trade Summit, visit the Event Page or contact Ms. Huiyan at huiyan@cmtsp.com.sg or Tel. +65 6346 9113.
Read more: Abu Dhabi set to rival Qatar as top LPG producer: ADNOC exec
04 Jul, 2013
Game-changing shale LPG has charged up U.S., making it a net exporter for the first time in 40 years.
According to the U.S. Energy Information Administration, in the first 11 months of 2012, daily LPG shipments were recorded at 194,000 barrels, higher than the country’s imports which stood at 169,700 barrels.
Seaborne LPG trade is expected to increase about 16% from 2010’s figures to 100.6 million metric tons this year, with U.S. exports likely to chalk up more than 5 million tons this year, up from last year’s 3.7 million. Encouraging industry signs have also put a forecast figure of next year’s export at 7 million tons.
Exports of propane will also see a positive upturn as Asia’s giant, China, creates a surge in demand in lieu of the 17 new propane dehydrogenation projects (PDH) that are coming onstream as soon as 2015. Although China can import high-purity propane from both US and Middle East, the lower cost US shale gas-derived propane is a major draw for the industry and is likely to cause a shift in trade.
The shale gas phenomena will have a ripple effect on the logistics and shipment sector, where service providers are likely to witness an uptake in business. Orders have since been sent out from shipyards, requesting for vessels specially designed to cater to LPG and petrochemical gases transportations, leading to a huge impact on the sector although the types and numbers of ships required is still unknown. As of now, ZOUEC is building six vessels with a shipbuilder, with the first 44,000 tonnes capacity LPG vessel coming onstream by the end of 2014.
The LPG industry remains upbeat as the shale gas boom brings more opportunities and interest areas in both upstream and downstream sectors.
Further discussions on the trade dynamics and market outlook will commence in Doha this November 18-20 when industry leaders convene at the 8th LPG Trade Summit.
For more information on the summit, please visit the Event Page or contact Ms. Huiyan at huiyan@cmtsp.com.sg or Tel. +65 6346 9113.
Read more:
27 May, 2013
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