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THE LPG MARKET’S EVER-EVOLVING COMPLEXITY

NGLStrategy’s Emma Lamb reports on the LPG global outlook and tradeflows

The ramifications of the global COVID-19 pandemic have been felt in many commodities including liquid petroleum gas (LPG). As a byproduct, the ultimate levels of LPG produced are highly governed by the crude oil and natural gas markets. 2020 saw global oil prices crash as lockdown restrictions curtailed demand. OPEC+ curtailed crude oil production with US and other non-OPEC countries production also adjusting to the new global balance. The number of rigs in the US fell and production of oil and natural gas came under pressure with some major oil companies downgrading growth outlooks for US shale reducing investment and focussing on free cash-flow. However, LPG production levels remained relatively robust in the US and added another layer of complexity to the ever-evolving industry.

For several years, increasing volumes of LPG have been for...

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