The global LPG industry continues to come to terms with significant shifts in the basic fundamentals of supply and demand. The latest set of annual LPG statistics for 2012 reveals the gap between global production and consumption widening to around 10mn t. This principally reflects higher output from the Middle East, Russia and North America — and more is to come, as US production from shale gas developments has begun to hit the global market this year, with the US now on its way to becoming potentially the largest LPG exporter in the world. This change is so rapid that it is almost unprecedented. The US imported more LPG than it exported as recently as 2010.
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