LPG in World Markets
After a sharp drop in LPG imports by Northwest Europe in 2017, VLGC/LGC imports surged in 2018 as demand for LPG rose in the petrochemical sector due to higher margins compared with naphtha. US reaped most of the benefit by supplying about two-thirds of the incremental demand with robust production growth which also kept a leash on US price increases and improved the arbitrage economics between the regions. In addition, production from key North Sea fields fell in 2018 because of planned and unplanned maintenance that affected regional supplies and increased reliance on imports.
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