Iran's Jan. LPG Exports Set Record
EghtesadOnline: Liquefied petroleum gas shipments from Iran made a strong start to the year, rebounding to 520,000 metric tons, an equivalent of 444,000 barrels, in January, the highest since international sanctions for its nuclear program were lifted in January 2016.
The latest volume is 146,000 mt more than initial figures published in mid-January, according to shipping sources, Platts reported. It is also up 39.4% from 373,000 mt in December 2017, when shipments posted the first month-on-month increase in three months, after exports started declining in September due to lower output at the South Pars Gas Field amid a two-month maintenance. In 2017, Iran's LPG shipments totaled around 3.5 million mt, with the highest monthly volume seen in August at 423,000 mt before the maintenance, which ended around mid-November, sources had said. Iranian exports are helping to fill shortfalls of spot supply from the Middle East, as major producers Saudi Arabia, the UAE, Qatar and Kuwait are exporting less spot cargoes and focus on fulfilling term contracts and meeting domestic petrochemical demand, according to Financial Tribune.