SPECIAL REPORT: Global markets facing adjustment to surge in LPG supply

LPG production is rising in nearly every region of the world.2006 global demand was about 227 million tonnes (7.3 million b/d), up 3.6% from 2005. This increase compares to an average demand growth of about 2.2%/year 2000-05. LPG production and exports have ramped up, associated with higher crude oil and LNG production rates.Because LPG is a by-product of oil and gas production, LPG production is unlikely to be reduced, despite a surge in supply and a probable reduction in LPG prices relative to crude.Meanwhile, LPG demand has also increased around the globe, but more slowly. About half of total LPG demand comes from the residential-commercial market for heating and cooking. Within limits...

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