LPG Market Outlook: Imports Falling Quickly for Belgium

This current feature was extracted from the latest edition of Poten’s LPG Market Outlook, a monthly service published on September 13, 2023.

LPG imports for Belgium fell by 25% from 2.2 MMt in 1H 2022 to 1.7 MMt in 2H 2023 on lower demand from the petrochemical sector and less incentive to substitute LPG for natural gas. LPG imports are forecast to reach 3.2 MMt in 2023 – down from 4 MMt in 2022 – and will remain around that level through 2025.

As in Asia, the European market is experiencing an oversupply of downstream petrochemical products, driving most crackers in the region to reduce run rates. Imports fell to an average of 210,000 t/m from June through August compared to an average of 300,000 t/m from January to May.

However, imports over land including those made by rail, truck or pipe have not decreased this year compared to last.

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