Processing: LPG surplus developing in association with LNG supply jump

Production of LPG-the world’s most widely traded NGL-is on the rise everywhere but in North America. That growth is partially tied to an anticipated jump in 2007 in the world’s LNG production capacities.As 2007 gets under way, the outlook for LPG is characterized by high prices and plentiful supply. The consultancy Purvin & Gertz, Houston, in late 2006 said the LPG market has moved in the last 2 years from being demand-driven to being supply-driven.Globally high crude oil and natural gas prices are supporting equally high LPG prices. This condition has increased production while dampening demand, especially in developing markets. Middle East production and exports are incr...

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