Worldwide trade in condensates and ultralight crudes will remain strong through the middle of this decade, predicts a study by Poten & Partners, New York.
The study expects total trade to reach 4.5 million b/d in 2010 and 5.2 million b/d in 2015. It rose to 3.4 million b/d in 2005 from 2.8 million b/d in 2000, according to Poten & Partners.
The study points out that condensate is “a nonuniform product” traded in a market divided between East and West.
In the East, it expects condensate trade to increase to 2.7 million b/d in 2010 and 3.1 million b/d in 2015 from 1.6 million b/d in 2000 and 1.9 million b/d in 2005. Western condensate trade will rise to 1.8 million b/d in 2010 and 2.1 million b/d in 2015 from 1.2 million b/d in 2000 and 1.5 million b/d in 2005.