5th September 2020
EP Desk

Asia will likely import record volumes of liquefied petroleum gas (LPG) in 2020 as firms snap up the fuel to make petrochemicals used in protective gear against the coronavirus, while households under lockdown ramped up purchases for cooking.

 

The region will buy some 67-69.5 million tonnes of the gas from abroad this year, surpassing last year’s record, analysts from consultancy firms IHS Markit, FGE and Wood Mackenzie said. That would represent a 1-3 percent increase on 2019 import volumes.

 

Strong Asian demand could weigh on supplies in coming months just as Europe is likely to step up purchases of the fuel for heating in winter, an industry source in Singapore said.

 

“We expect (LPG) import demand to increase in 2020 over 2019 with stronger demand in both residential and petrochemical sectors,” said Rui Hou, research analyst of Wood Mackenzie.

 

He Yanyu, IHS Markit’s executive director of natural gas liquids research, said some 33 million tonnes of LPG had already been imported in the first half of 2020.

 

In total, Asia would get some 52 percent of its LPG supplies this year from the Middle East, 35 percent from the United States and the rest from countries including Canada and Australia, he said.


comments
leave a comment

Create Account



If you have already registered , please log in

Log In Your Account



Download The Anniversay 2018



Share