U.S.-Origin LPG Hit a New High in Japan
Recently, the Japanese government said that the LPG import volume from the U.S. would be doubled, taking up a half of the total procurement volume. The high export volume of LPG in the U.S. resulted in the decrease of the market share of Saudi Arabia.
According to the data from Thomson Reuters, up to the end of 2017, the U.S. exported about 6,000kt of LPG to Japan, up 100% Y-O-Y. Besides, the data from the Japanese government showed that including the freight, the LPG prices in the U.S. were slightly lower than the crude oil prices in the Middle East.
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