U.S. LPG exports increased by 6% in March, up 127 Mb/d to 2.25 MMb/d (see chart below), driven by increased cargoes out of Marcus Hook, PA, on the East Coast now that winter is over and propane is more valuable on the water than it is for heating homes and businesses in the Northeast. In addition, exports from ET-Nederland rebounded after an operational issue in February. The only major terminal that showed a decrease in loadings was Targa’s Galena Park following a low-ethane propane unit outage in the second half of the month, leading the terminal to declare force majeure on some cargoes.
Featured Articles
- Analyst Insight
Iran Conflict Sends International Propane Market Soaring
Supply disruptions in the Persian Gulf have sent global propane prices soaring, sharply widening the spread between international and U.S. prices. That has created a major opening for U.S. exporters, but with spot terminal fees at record highs as key export hubs already running near capacity, upside is constrained by loading capacity.
- Blog
Wind of Change – The U.S. Propane Market’s Shifting Trends Around Storage, Production and Exports
The U.S. propane market typically follows predictable trends. With much of domestic demand occurring in the colder months, storage builds in the summer and is withdrawn in the winter. But since mid-April, storage levels have increased by only 1.2 MMbbl. Today, we explore what is going on and why.
- Analyst Insight
Enterprise Neches River Flex Train Loads First Cargo
Phase 2 of Enterprise’s Neches River ethane terminal appears to have entered service after an LPG vessel was observed departing the terminal with cargo bound for Mexico.
