Iran's 2022 liquefied petroleum gas (LPG) exports are projected to reach 5.6 Mln tons in 2022 from 5.5 Mln tons in the previous year, Platts reported, citing trade sources. Analysts, however, believe that Iran is expected to boost exports by 1.9 Mln tons this year, the report said.
Between 2018 and 2020, Iran added 3.2 Mln tons of LPG production capacity mainly from the South Pars gas field and by September 2021 it was projected to add another 2.2 Mln tons.
China has been the biggest buyer of Iranian LPG, importing 4.94 Mln tons in 2019, 3.85 Mln tons in 2020, and 1.965 Mln tons over January-May 2021, industry data showed.
Some trade sources said Iranian cargoes have been attractive to Chinese buyers, with more discounts compared to Saudi Contract Prices.
Based on Platts report, total exports from Iran, Qatar, the United Arab Emirates, Saudi Arabia, and Kuwait are estimated to rise to 38.9 Mln tons in 2022, from 36.5 Mln tons last year.