Reuters: Asia Condensate Demand to Double by 2016, Opening Mkt to New Suppliers

“Asia’s condensate demand is expected to double by 2016 as refiners and petrochemical makers build splitters to process an abundent supply of the super light crude into raw materials for making plastics and for producing better quality gasoline to feed demand.  South Korea, China and Singapore are building distillation units that cost less than one seventh of a typical refinery to process large volumes of condensate produced along with liquefied natural gas (LNG). . . . Yet, condensate exports from Qatar will slip below the current 500,000 bpd once a 146,000-bpd splitter at Ras Laffan starts operating in 2016, offsetting about 110,000 bpd of new condensate output from the Barzan gas project, according to Tasweeq and Poten & Partners.”