Way back in 2012, the U.S. flipped from being a net LPG importer to a net exporter. Since then, exports by ship have skyrocketed, up from 0.3 MMb/d in 2013 to more than 1.1 MMb/d at year-end 2018, an astronomical compound annual growth rate (CAGR) of 30%. The vast majority of waterborne exports was out of a handful of LPG terminals along the Gulf Coast. These facilities — plus Ferndale in the Pacific Northwest and Marcus Hook near Philadelphia — so far have managed to handle the increasing flow of LPG, but with U.S. NGL production still rising, it looks like new export capacity is needed — and is on the way. All the while, imports of LPG, almost all from Canada, have remained relatively flat, averaging only 130 Mb/d in the 2013-18 period. Today, we begin a series on existing and planned LPG export capacity along the Gulf, West and East coasts — and what’s driving the build-out of these assets.
NGL Voyager offers subscribers a comprehensive market analysis of natural gas liquids exports which are driven by fundamentals, and combined with the latest industry buzz. The report examines U.S. export trends for propane, butane and ethane, and includes port of origin, destination and volume.
As we said in our Floating Bridge blog series, most U.S.-sourced propane and normal butane — the NGL purity products generally referenced as LPG — is produced by the processing of raw natural gas (which yields mixed NGLs, or y-grade) and the fractionation of that y-grade into purity products (see Talkin’ ‘Bout My F-f-fractionation for more on fractionation). Refineries also produce LPG, but it is the increased production of “wet” natural gas (with its high yield of propane, butane and other NGLs) that has really been propelling the U.S. LPG market. With the run-up in NGL production in the Permian, the Marcellus/Utica and other major shale plays, increasing volumes of U.S. propane and butane are being exported (blue layers in Figure 1); in fact, more than half of propane is already being sent abroad.
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About the song
"Between the Devil and the Deep Blue Sea" was written by Harold Arlen (music) and Ted Koehler (lyrics) in 1931. It was first performed at the Cotton Club show "Rhythmania" in 1931. Cab Calloway released the first recording of the song, also in 1931. Many artists have recorded the tune over the years, including Louis Armstrong, Bing Crosby, Peggy Lee, Ella Fitzgerald and George Harrison. It was most recently featured in the 2013 Broadway show "After Midnight."
George Harrison's version appeared as the 10th cut on his 2002 album, Brainwashed. It was Harrison's 12th and final studio solo album, released posthumously in November 2002, almost a year after his passing at the age of 58. It was the only song on the album not penned by Harrison. The primary personnel on Brainwashed were George Harrison, his close friend Jeff Lynne, his son Dhani Harrison, and long-time drummer and friend Jim Keltner. The record was produced by George and Dhani Harrison, and Jeff Lynne. It made it to #18 on the Billboard Top 200 Albums chart, and was certified gold by the Recording Industry Association of America.
George Harrison was an English musician, singer-songwriter, and music and film producer who achieved worldwide fame and success as a member of the Beatles.
