LPG in World Markets: US Growth Limited as Producers Remain Capital Disciplined
January 2022
LPG in World Markets
US dry gas production rose to a two-year high at around 96 Bcf/d in November 2021. Gas production was slightly higher than this level back in November and December of 2019 at just over 97 Bcf/d. Production has been steadily increasing since the February 2021 winter storm when production took a nosedive in Texas due to freeze offs. The increase in gas production helped gas plant LPG production increase 2% in 2021 to 81 MMt/y. The growth was down from 4.5% in 2020 and nearly 13% in 2019. Production growth in 2021 would have been about 4% without the winter storm, according to Poten estimates.
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