Lpg in Fb
Demand for U.S. LPG exports to rise in Asia - News
With fracking and horizontal drilling technologies allowing the U.S. to access more shale resources, other countries in Asia in demand of liquefied petroleum gas (LPG) are expected to benefit from more exports and lower prices, according to Reuters.
With the U.S. exporting more LPG due to a surge in production, Middle East exporters, including Saudi Arabia and Qatar, will likely have to lower their prices to keep themselves competitive amidst a growing supply of U.S. LPG. This is another sign that North America is quickly catching up with the world's top producers in oil and gas in the Middle East to become the biggest supplier of LPG exports in 2014.
With LPG products, such as butane and propane, widely used in household appliances and in transportation vehicles, Asia will be a huge market. With countries like China trying to find cleaner fuels to replace coal to reduce pollution, U.S. LPG exports might just be the prime substitute for these expanding markets.
Buyers in Asia are also hoping for lower prices for liquefied natural gas(LNG) exports as more U.S. export projects are approved, South China Morning Post reported. In September, the U.S. Department of Energy approved the fourth LNG project, which expands the nation's export capacity to 51 million tons.
With fracking and horizontal drilling technologies allowing the U.S. to access more shale resources, other countries in Asia in demand of liquefied petroleum gas (LPG) are expected to benefit from more exports and lower prices, according to Reuters.
With the U.S. exporting more LPG due to a surge in production, Middle East exporters, including Saudi Arabia and Qatar, will likely have to lower their prices to keep themselves competitive amidst a growing supply of U.S. LPG. This is another sign that North America is quickly catching up with the world's top producers in oil and gas in the Middle East to become the biggest supplier of LPG exports in 2014.
With LPG products, such as butane and propane, widely used in household appliances and in transportation vehicles, Asia will be a huge market. With countries like China trying to find cleaner fuels to replace coal to reduce pollution, U.S. LPG exports might just be the prime substitute for these expanding markets.
Buyers in Asia are also hoping for lower prices for liquefied natural gas(LNG) exports as more U.S. export projects are approved, South China Morning Post reported. In September, the U.S. Department of Energy approved the fourth LNG project, which expands the nation's export capacity to 51 million tons.
Related Posts
- How to sign out from Facebook messenger on Iphone
- Hotel A
- Open the Messenger
- See Instagram Followers
- Delete Fb account permanently from Mobile
- Facebook Nudge
- Facebook Register
- Facebook litefacebook Lite
- How to logout messenger on Ipad
- How do i log into my Facebook Account
Main focus of LPG exports is Asia
In a recent report by ESAI Energy, the energy researchers said now is a good time for the U.S. to increase LPG exports to Asia. Out of the almost 350,000 bpd of LPG surplus the U.S. is expected to produce, ESAI Energy predicts about 110,000 bpd will be sold in Asian markets. With this increase in U.S. LPG exports, prices from Saudi Arabia are anticipated to drop from over $70 per barrel in 2013 to $65 per barrel in 2015.
"This game-changing development will redraw global LPG trade flows and force Middle Eastern LPG exporters to lower prices," ESAI Energy said.
In a recent report by ESAI Energy, the energy researchers said now is a good time for the U.S. to increase LPG exports to Asia. Out of the almost 350,000 bpd of LPG surplus the U.S. is expected to produce, ESAI Energy predicts about 110,000 bpd will be sold in Asian markets. With this increase in U.S. LPG exports, prices from Saudi Arabia are anticipated to drop from over $70 per barrel in 2013 to $65 per barrel in 2015.
"This game-changing development will redraw global LPG trade flows and force Middle Eastern LPG exporters to lower prices," ESAI Energy said.