14-16 Nov, 2016 - Dubai, U A E
Four Seasons Resort Dubai at Jumeirah Beach
Four Seasons Resort Dubai at Jumeirah Beach
LPG supply is expected to rise in Asia over the next couple of years. This will result in a surge in US LPG exports to the region.
The US mainly exports LPG to Japan, South Korea, Singapore and China.
The deficit in LPG demand and supply is expected to rise to a record of 1.42 million bpd in 2016, surpassing last year's 1.3 million bpd. The deficit is slated to further swell to 1.5 million bpd by 2017.
This may result in Asia importing approximately 300,000 bpd of LPG from the USA in 2016 and 340,000 bpd in 2017.
Analysts predict that the growing dependence of Asian countries on LPG imports from the US may result in higher propane and butane prices for American consumers.
Besides the US, Asian countries are also looking at the other options. For instance, Indonesia plans to import up to 132,000 metric tons of LPG from Iran in the second half of 2016. India is another country that has shown interest in importing more LPG from Iran following the removal of anti-Tehran sanctions. Iran is already returning to normal LPG export volumes. The country shipped 1.117 million MT of LPG in the first-quarter of 2016.
Meanwhile, Russia’s largest petrochemical producer, Sibur also plans to increase its LPG exports. Sibur is eyeing Asian markets and plans to use its export facilities in Russia’s Far East for entering the region from 2018.
More on LPG demand supply trends will be discussed at CMT’s annual 11th LPGTrade Summit on 14-16 November, 2016 in Dubai.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more details.
Read more:
Russia’s Sibur targets LPG exports growth, eyes Asia
India Seeks to Raise LPG Imports from Iran
Asia's record LPG shortfall to attract increasing U.S. exports
Iran shipping 411,000 mt LPG in March, Vitol taking a cargo to Taiwan
Indonesia's Pertamina Seeks 132,000 Tons of Iranian LPG for H2 2016
