LPG Market Outlook: Russia’s LPG exports seek new destinations

LPG Market Outlook

The news of Russia’s invasion of Ukraine rattled energy markets around the world. LPG prices rose in line with the prices of other energy commodities. However, Russia does not play a major role in international LPG markets. In 2020, Russian petrochemical company, Sibur, began operations at the ZapSibNeftekhim plant and waterborne exports fell from 3.5 MMt/y in 2018 to only 1 MMt/y in 2021. Rail exports, on the other hand, have not fallen so quickly. Exports by land were stable at around 4.7 MMt/y from 2018 to 2020 but fell to 4.2 MMt/y in 2021.

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