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Latin America LPG supplies growing more saturated: Purvin & Gertz
AFP
Panama City
Petroleumworld.com 11 09 06
Latin America's LPG supplies are accumulating in lieu of faltering demand
and rising prices, a Purvin & Gertz consultant Craig Whitley said Tuesday at
the 12th Annual Latin American LPG seminar in Panama City.
Higher crude prices, and subsequent higher LPG prices, have caused
consumers in Latin America to conserve energy to the point of cutting back use
on a household scale. LPG consumption was increasingly being replaced in some
countries by cheaper natural gas, Whitley said.
Decreasing demand for LPG in Latin America would likely increase the
region's annual export ability by more than 1.4 million/mt over the next two
years, another analyst also said during the conference. South America's LPG
exports were expected to jump from 78,000 mt/year last year, to a 1.5 million
mt/year by 2008.
In the meantime, most of Latin America remains long on LPG, the speakers
said. In 2005, the region had a demand of 15,046,000 mt/year and a local
supply of 15,975,000 mt/year.
--Pat Whalen, patrick_whalen@platts.comFor more news, request a free trial to Platts Petrochemical Report at
http://www.platts.com/Request%20More%20Information/ or subscribe now at
http://www.platts.com/infostore/product_info.php?cPath=27_35&products_id=73
Platts 08 11 06
Copyright© 2006 Platts. All Rights Reserved.
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