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Top Import Markets for LPG

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Top Import Markets for LPG

1. China – $20.2 Billion USD

China leads the way as the world’s largest importer of LPG, with a total import value of $20.2 billion in 2023. The country’s high demand for LPG is driven by its rapidly growing economy and expanding industrial sector.

2. India – $10.9 Billion USD

India comes in second place with an import value of $10.9 billion in 2023. The country’s strong demand for LPG is due to its large population and increasing use of LPG for cooking and heating purposes.

3. South Korea – $5.9 Billion USD

South Korea is the third largest importer of LPG, with an import value of $5.9 billion in 2023. The country relies heavily on imported LPG to meet its energy needs, particularly in the industrial sector.

4. Japan – $5.7 Billion USD

Japan is another major importer of LPG, with a total import value of $5.7 billion in 2023. The country’s high demand for LPG is driven by its need for energy sources to power its industrial and residential sectors.

5. Indonesia – $4.5 Billion USD

Indonesia ranks fifth in terms of LPG imports, with a total import value of $4.5 billion in 2023. The country’s increasing population and expanding economy have led to a growing demand for LPG as an energy source.

6. United States – $2.7 Billion USD

The United States is the sixth largest importer of LPG, with an import value of $2.7 billion in 2023. The country’s strong demand for LPG is driven by its use in the industrial, residential, and transportation sectors.

7. Turkey – $2.2 Billion USD

Turkey ranks seventh in terms of LPG imports, with a total import value of $2.2 billion in 2023. The country’s increasing urbanization and industrialization have led to a growing demand for LPG as a reliable energy source.

8. Mexico – $2.1 Billion USD

Mexico is the eighth largest importer of LPG, with an import value of $2.1 billion in 2023. The country’s strong demand for LPG is driven by its use in the residential, commercial, and transportation sectors.

9. Netherlands – $2.1 Billion USD

The Netherlands ranks ninth in terms of LPG imports, with a total import value of $2.1 billion in 2023. The country’s strategic location as a hub for energy imports has made it a key player in the global LPG market.

10. Belgium – $2.1 Billion USD

Belgium rounds out the top-10 import markets for LPG, with an import value of $2.1 billion in 2023. The country’s strong demand for LPG is driven by its use in the residential, commercial, and industrial sectors.

Overall, these top-10 countries play a crucial role in the global LPG market as major importers of this versatile energy source. As the world’s demand for LPG continues to rise, these import markets are expected to remain key players in the industry for years to come.

Source: IndexBox Market Intelligence Platform

 

US-Sourced LPG Shipments to Latin America Surge

 

Washington, DC – US shipments of liquefied petroleum gas (LPG) to Latin America have increased five-fold since 2007, edging out more expensive exports from countries such as Saudi Arabia and Algeria.

According to data released by the Energy Information Administration (EIA), Latin America imported about 206,000 barrels per day (bpd) of US-sourced LPG in 2013, up from 38,000 bpd in 2007.

The agency said that the lack of industrial capacity and stagnant natural gas production in Latin America – particularly Venezuela – means there is too little LPG to satisfy voracious demand, while the shale boom in the US has created a growing surplus of LPG, namely propane, butane and isobutane.

US producers are reportedly offering lower prices than other major exporters with buyers in Brazil and Chile signing supply contracts with a number of US providers.

LPG is produced from the natural gas liquids that are processed at fractioning plants to separate methane from other more-valued gases, such as butane and propane.

Total US LPG exports rose 482 percent since 2007 to 332,000 bpd last year. Analysts forecast some 450,000 bpd in exports this year and 800,000 bpd by 2018.

Venezuela, which once exported LPG to neighbors but has suffered production declines, has been importing since 2012 while Ecuador imported 88 percent of its LPG last year, spending $700 million in subsidies, the EIA said.

06/10/2014