23-25 Oct, 2017 - Dubai, U A E
The H Dubai
The H Dubai
Indonesia is planning to increase liquefied petroleum gas (LPG) imports from Iran. They are hoping to procure the LPG imports from Iran at a discounted price.
According to the country’s Energy and Mineral Resources Ministry, Wiratmaja Puja - Indonesia wants to double imports of Iranian LPG from 500,000 tonnes to 1 million tonnes.
State-owned oil and gas company Pertamina is demanding price discounts from the Middle Eastern country. However, no deal has been struck yet.
If Indonesia succeeds in increasing its LPG imports from Iran, its LPG imports from other countries, including Saudi Arabia’s Aramco will decrease substantially.
Iran has been working towards increasing its crude oil production after the sanctions were lifted. The country wants to recapture its market share. Iran’s return to the market has put pressure on other market leaders – especially Saudi Arabia and producers in other regions.
LPG market trends will be further analyzed at 12th LPG Trade Summit on 23-25 October in Dubai.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more information.
