NGL MARKET RECAP
| June 04, 2014
June 4, 2014
In Focus: March EIA stat highlights Total U.S. gas plant NGL production increased +4% in March to 2,793 kb/d, and was up +13% compared to 2013. Production in the Marcellus was up +6% m-o-m and +155% y-o-y at 168 kb/d. Bakken production increased +5% to 62 kb/d in March and was +27% higher compared to last year. Texas Inland gas plant production was +12% higher y-o-y at 1,192 kb/d.
NGL MARKET RECAP
| May 29, 2014
May 29, 2014
In Focus: New gas carriers to support LPG and ethylene/ethane arbitrage The size of the very large gas carrier ( VLGC ) segment is set to grow by around 50% through 2016 in response to greater supply of LPGs – most notably in the US – and increased demand, which is expected to come predominantly from the Asia-Pacific region. The 80 new VLGCs, which are on average 84,000 cubic meters (cbm), should increase capacity by +6.8 million cbm from 12.6 million cbm to 19.3 million cbm by the end of 20.....
NGL MARKET RECAP
| May 21, 2014
May 21, 2014
In Focus: Incremental LPG exports Although U.S. propane production increased +88 kb/d w-o-w to hit a new high and as PADD 3 inventories continue to exhibit strong builds, a review of planned LPG export facilities – both large and small – suggest the market could tighten in late 1Q and 2Q 2015.
NGL MARKET RECAP
| May 14, 2014
May 14, 2014
Propane: US propane inventories increased by +2.5m bbl to 37.7m bbl for the week ended May 9, 2014. PADD 3 inventories increased +7%, or +1.4m bbl, to 20.8m bbl. PADD 2 stocks increased by +7%, or +830k bbl, to 12.5m bbl. In PADD 1, stocks increased by +6% or +166k bbl to 3.0m bbl. Implied demand increased +22% to 849 kb/d; imports decreased -24% to 55 kb/d and production fell -1% to 1.46 mb/d last week. This week we have included our expanded charts, including Canadian LPG inventori.....
NGL MARKET RECAP
| May 07, 2014
May 7, 2014
In Focus: Petrochemical update Some of the key issues on the minds of chemical companies – or at least the analysts that cover them – include ethane and propane exports, construction timelines for new cracking facilities in the U.S. and opportunities for chemical demand growth in international markets, particularly China. If there was any bias in their analyses, it would be in categorically bullish stances on supply and mostly bearish outlooks for feedstock prices.
NGL MARKET RECAP
| April 30, 2014
April 30, 2014
In Focus: Bluegrass, ATEX and new ethane ships As plans for domestic pipeline infrastructure continue to change, Northeast storage capacity could be challenged and regional ethane recovery could surprise to the downside. At the same time, with new multi-purpose LNG ships announced to target the ethane/ethylene trade, we have more confidence in additional U.S. ethane exports. The announcement this week that the 400 kb/d Bluegrass pipeline has been taken off the project shelf supports incr.....
NGL MARKET RECAP
| April 23, 2014
April 23, 2014
In Focus: Ethane exports The announcement today from Enterprise that it intends to move forward with an ethane export terminal isn’t too much of a surprise – the partnership has been touting the fundamental length in the product for some time, and has indicated it would pursue such a project given sufficient commercial interest. The question remains, however, whether Enterprise has received firm commitments from international petrochemical producers. To make this a really credible investment.....
NGL MARKET RECAP
| April 16, 2014
April 16, 2014
In Focus: Market Insight (and expanded charts) In addition to record liquefied petroleum gas ( LPG ) exports, if recently-announced condensate splitters go ahead as planned, the US will also have excess light naphtha to export. Both of these products compete as feedstock for petrochemical production. But because of propane’s greater seasonality and its use for on-purpose propylene (propane dehydrogenation or PDH ), increased paraffinic naphtha availability shouldn’t necessarily be viewed as.....
NGL MARKET RECAP
| April 09, 2014
April 9, 2014
There will be no commentary today ahead of a Market Insight to be published ahead of next week’s report.
NGL MARKET RECAP
| April 02, 2014
April 2, 2014
In Focus: monthly EIA stat highlights Although U.S. NGL production for January 2014 was below the record set last September, as gas and oil production recovers from freeze-offs and as construction/expansion projects are completed in the Bakken and Marcellus/Utica, we would expect production to have topped 2.7 mb/d in February or March, and expect to surpass the 3.0 mb/d mark before the end of 1Q15.