Rising US LPG supplies face headwinds

LPG Special Report: Rising US LPG supplies face headwinds from China and Europe's weak demand

US LPG exports continue to grow despite higher winter demand, driven by robust domestic production. ➔ Nearly 930kbd of additional terminal export capacity expected to come online by 2026.
In LatAm, LPG imports have receded to 2023 levels in November after all-time highs in October. European LPG imports have risen marginally, with potential upsides if winter temperature falls further.
Middle East LPG exports have seen limited growth this year, while more supplies are pivoting to India, taking volumes away from Northeast Asia. Generally strong Indian LPG imports could set a record in November.
On the contrary, China’s LPG imports are on-track to sink to a 9-month low this month, weighed down by weak PDH margins.

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US LPG exports continue to grow despite higher winter demand, driven by robust domestic production. ➔ Nearly 930kbd of additional terminal export capacity expected to come online by 2026.
In LatAm, LPG imports have receded to 2023 levels in November after all-time highs in October. European LPG imports have risen marginally, with potential upsides if winter temperature falls further.
Middle East LPG exports have seen limited growth this year, while more supplies are pivoting to India, taking volumes away from Northeast Asia. Generally strong Indian LPG imports could set a record in November.
On the contrary, China’s LPG imports are on-track to sink to a 9-month low this month, weighed down by weak PDH margins.