US liquefied petroleum gas exports reach record high in April — S&P
Business & Economy
May 06, 13:03
US liquefied petroleum gas exports increased to a record 3.3 million barrels per day in April
NEW YORK, May 6. /TASS/. US liquefied petroleum gas (LPG) exports increased to a record 3.3 million barrels per day in April due to shipping restrictions in the Strait of Hormuz, according to estimates published by S&P Global.
As the company notes, propane is the leading liquefied petroleum gas exported by the US. China and Japan purchased more LPG from the US in April than any other country - 457,000 barrels per day and 460,000 barrels per day respectively.
The US share of the global LPG market has increased to 50% due to restrictions in the Strait of Hormuz. About 10 years ago, this figure reached approximately 25%. LPG exporters are working to build new capacity along the Gulf Coast to boost U.S. energy supplies.