LPG exports from major Middle Eastern producers in 2022 are expected to increase 6.6% from 2021 as competition for the growing Asian markets intensifies amid expanding supply from other producers, led by the US, traders, producers and analysts said.
Iranian exporters aim to increase LPG exports to full capacity, if the Biden administration lifts sanctions that limited shipments from the country's petrochemical plants and gas refineries, industry sources familiar with the sector said.
Two liquefied petroleum gas (LPG) storage tanks of phases 22-24 of Iran’s South Pars Gas Field became operational and ready to store 80,000 cubic meters of gas, said the head of Iran’s Pars Oil and Gas Company (POGC) on Saturday.
Petropars Iran (PPI) Company started storing propane and liquefied petroleum gas (LPG) simultaneously in four depots belonging to the refinery of the Phase 19 of the South Pars (SP) Gas Field in the southern Iranian province of Bushehr.
Iranian LPG loadings were showing initial signs of recovery in January 2019 after a near halt in November 2018 following the reimposition of US sanctions on November 4, 2018, shipping and trade sources said.
Iran's LPG shipments loaded, or due for lifting, in August rose by 84,000 tons versus July to around 568,000 tons — the highest since the previous US-led sanctions against Tehran — fixtures from shipping sources showed recently.
Shipments of LPG scheduled to be lifted from Iran in April rose further to around 500,000 tons, almost matching January shipments of 520,000 tons which was the highest volume since Western sanctions against the producer were removed in January 2016, shipping sources said.
Iran's LPG shipments eased to between 358,500 tons and 402,500 tons in February after recording a post-sanctions high of 520,000 tons in January, sustaining robust exports after normal production resumed in mid-November following maintenance at the South Pars Gas Field, fixtures from shipping sources showed this week.
Shipments of LPG from Iran made a strong start to the year, rebounding to 520,000 tons in January, the highest since Western sanctions were lifted in January 2016, updated fixtures from shipping sources showed.