US liquefied petroleum gas (LPG) exports have raised in yearly by 22% to 22.5 million tons YTD (year-date), and Middle East exports have expanded on the samebasis3.5% to 22.6 million tons, mentioned Dorian LPG.
For the first time, US and Center East volumes had been equal, said the owner and operator of modern, massive gas carriers (VLGCs).
North American export capacity continues to increase, additional supporting global LPG trade. Altagas’ new Ridley Island terminus on the west coast of Canada is now exporting two cargoes per month, whereas Enterprise expects its LPG Marine Terminal expansion to be prepared by the end of September 2019 succeeded by an even more extraordinary growth by the third calendar quarter of 2020.
Targa Resources declared an expansion project of 200 million barrels per day by subsequent year, whereas Energy Transfer Partners introduced scheduling adjustments for this summer to facilitate vessel loadings and increased refrigeration capacity for their Nederland terminal by September 2020. Sunoco’s Marcus Hook terminal has maintained a robust loading schedule, exporting 9 VLGC cargoes on April, 10 in May, and 9 in June.
In April 2019, European and Asian benchmark propane costs climbed, whereas Mont Belvieu costs fell. All through the quarter, prices continued to fall in all three major areas, dropping under 50% of Brent in Northwestern Europe and the Far East. Despite a fall in crude costs and naphtha, propane remained a key feedstock for the petrochemical industry within the West as the propane-naphtha unfold averaged around $130 per metric ton over the quarter.