Over the course of this decade the global LPG market has moved from being tight, where supply barely exceeded non-price sensitive demand, to the current market situation where supply growth has outstripped demand growth to such an extent that current fundamentals suggest that considerable length will prevail in the market over the near term. As is the case for many other energy commodity markets, the LPG industry has experienced a considerable transformation over the last five years with many new LPG supply projects coming onstream and demand growth in many developing markets slowing in response to higher energy prices.
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