LPG/NGL
Overview
Whether you need access to our exclusive price indexes and benchmarks, expert commentary on all the latest industry developments, or forecasts to aid your strategic planning, we offer you the most transparent and trustworthy LPG business intelligence available anywhere.
With robust, market-appropriate methodologies to assess prices and our global team of experts in constant consultation with a range of participants involved in the LPG markets, you can rely on our independent insight to inform your decisions.
Our price assessments are widely used in contracts by participants across the supply chain and are listed by exchanges including ICE and CME, enabling price risk management options across markets.
Latest LPG/NGL news
Browse the latest market moving news on the global LPG and NGL's industry.
Sub-Saharan Africa gets $2.2bn for clean cooking
Sub-Saharan Africa gets $2.2bn for clean cooking
Governments, financial institutions and private-sector firms made a string of funding pledges at this week's IEA summit, write Peter Wilton and Matt Scotland London, 14 May (Argus) — Public and private-sector pledges amounting to $2.2bn to provide access to clean cooking fuels, including LPG, in sub-Saharan Africa by 2030 were announced at the IEA's Summit on Clean Cooking in Africa in Paris on 14 May. Governments, financial institutions and private-sector companies made a string of funding pledges at the event, which attracted heads of state from Norway, Tanzania, Togo and Sierra Leone, as well as 21 ministers. From the public sector, the EU has earmarked €400mn ($432mn) for clean cooking under an existing EU-Africa investment package. Norway's prime minister Jonas Gahr Store added $50mn to this commitment, while French, Danish and UK ministers pledged €100mn, $72mn and £8.5mn ($10.7mn), respectively, under various clean cooking initiatives across the continent to 2030. The US will add a minimum of $40mn in the next two years alone. Private-sector pledges were led by energy firms active in the region, many of which operate in the LPG sector. Trading company Vitol committed $550mn towards infrastructure, LPG cylinders, distribution and cookstoves across the firm's African operations, while Italy's Eni pledged $300mn to lift the number of beneficiaries of its clean cooking programme in Africa from 500,000 to 10mn by 2027 and 20mn by 2030. TotalEnergies will invest $100mn in additional LPG production and associated local distribution in Uganda, and $400mn across Africa and India in developing LPG cooking markets, chief executive Patrick Pouyanne said. LPG is a "pragmatic, existing enabler for access to clean cooking", he said. Africa50 — a financial institution founded by African governments and the African Development Bank (AFDB) to mobilise investment in infrastructure in the continent — pledged $500mn of finance for LPG infrastructure projects, according to chief executive Alain Ebobisse. This is on top of a previous commitment from the AFDB, announced at the UN's Cop 28 climate summit in November, to allocate 20pc of its energy lending budget — worth around $2bn over the next 10 years — to clean cooking. The bank has also urged local governments in Africa to allocate 5pc of their current energy investments to clean cooking, which would raise another $3.5 bn/yr, AFDB president Akinwumi Adesina said. LPG plays a crucial role in the IEA's vision for clean cooking in Africa. Under the Paris-based agency's "access for all" policies scenario, around 45pc of the transition will be to LPG by 2030. The IEA wants to mobilise $4 bn/yr of investment in clean cooking in sub-Saharan Africa, 80pc of which will be for end-user equipment and 20pc for infrastructure, a goal that it says is achievable now. The region can look to emulate successful LPG transitions in Brazil, India, Indonesia and Ghana, Tanzanian president Samia Suluhu Hassan said. IEA executive director Fatih Birol said he hopes the world will look back on the summit "as the turning point" for tackling the problem. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Funding of $2.2bn pledged to clean cooking in Africa
Funding of $2.2bn pledged to clean cooking in Africa
London, 14 May (Argus) — Public and private-sector pledges amounting to $2.2bn in cash, infrastructure investment and finance to provide access to clean cooking fuels, including LPG, in sub-Saharan Africa by 2030 have been announced at the IEA's Summit on Clean Cooking in Africa today. Governments, financial institutions and private-sector companies made a string of funding pledges at the event, which attracted nearly 1,000 delegates from 45 countries, including heads of state from Norway, Tanzania, Togo and Sierra Leone and 21 ministers. From the public sector, the EU has earmarked €400mn ($432mn) for clean cooking under an existing EU-Africa investment package. Norway's prime minister Jonas Gahr Støre added $50mn to this commitment, while French, Danish and UK ministers pledged €100mn, $72mn and £8.5mn ($10.7mn), respectively, under various clean cooking initiatives across the continent to 2030. The US will add a minimum of $40mn in the next two years alone. Private-sector pledges were led by energy firms operating in the region, many of which operate in the LPG sector. Trading company Vitol's chief executive Russell Hardy committed $550mn towards "infrastructure, [LPG] cylinders, distribution and cookstoves" across his firm's African operations, while Italy's Eni pledged $300mn to lift the number of beneficiaries of its clean cooking programme in Africa from 500,000 to 10mn by 2027 and 20mn by 2030. TotalEnergies will invest $100mn in additional LPG production in Uganda and associated local distribution, and $400mn across Africa and India in developing LPG cooking markets, chief executive Patrick Pouyanne said. LPG is a "pragmatic, existing enabler for access to clean cooking," he said. Africa50 — a financial institution founded by African governments and the African Development Bank (AFDB) to mobilise investment in infrastructure in the continent — pledged $500mn of finance for LPG infrastructure projects, according to chief executive Alain Ebobisse. This is on top of a previous commitment from the AFDB, announced at the UN's Cop 28 climate summit in November, to allocate 20pc of its energy lending budget to clean cooking, worth around $2bn over the next 10 years. The bank has also urged local governments in Africa to allocate 5pc of their current energy investments to clean cooking, which would raise another $3.5bn/yr, AFDB president Akinwumi Adesin said. 2030 Vision LPG plays a crucial role in the IEA's vision for clean cooking in Africa. Under the Paris-based agency's "access for all" policies scenario, around 45pc of the transition will be to LPG by 2030. The IEA wants to mobilise $4bn/yr of investment in clean cooking in sub-Saharan Africa, 80pc of which will be for end-user equipment and 20pc on infrastructure, a goal that it says is achievable now. The region can look to emulate successful LPG transitions in Brazil, India, Indonesia and Ghana, Tanzanian president Samia Suluhu Hassan said. The funding pledged at the event is a significant milestone for clean cooking in Africa, given that just $175mn/yr was invested in the region in 2015-19, according to the IEA. The agency organised the summit and encouraged participation as part of its drive to tackle indoor air pollution from cooking with solid biomass fuels. IEA executive director Fatih Birol said he hopes the world will look back on today "as the turning point" for tackling the problem. By Peter Wilton and Matt Scotland Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Rains hamper LPG distribution in south Brazil
Rains hamper LPG distribution in south Brazil
Sao Paulo, 8 May (Argus) — Torrential rains that flooded southern Brazil's Rio Grande do Sul state decreased LPG distribution by 7-10pc in the region in the past week, market participants said. Distributor Copa Energia's operations at its Canoas city unit — which is responsible for 30pc of the LPG distributed in the state — are expected to resume in the coming days after being shut last week. The heavy rains since late April — that have left 100 people dead, 128 people missing and almost 164,000 displaced from their homes, according to the state's civil defense — have spurred companies to take measures to maintain gas supply in the region. Some firms have also advanced salary benefits to help workers deal with the crisis. State-controlled Petrobras' 201,000 b/d Alberto Pasqualini (Refap) refinery has cut LPG production, but has not disclosed by how much . The unit also produces diesel, gasoline and fuel oil, among other products. LPG distribution began normalizing earlier this week, after "the feeling of chaos and lack of information" over the weekend had passed, according to an industry executive. Many retailers are now able to retrieve products, but it is still unknown how many routes have been compromised. But LPG stocks have been able to meet demand so far, preventing any shortages. Hydrocarbons regulator ANP's measure to allow collaborative actions among sector companies without the usual bureaucratic procedures to keep the market supplied has had an immediate effect, according to LPG association Sindigas' chief executive Sergio Bandeira de Mello. Distribution has been carried out collaboratively in recent days, despite some retailers' facilities being underwater, vehicles being lost and roads destroyed. But the state will still face months of problems and precariousness, de Mello said. By Betina Moura Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Flogas opens Teesside LPG terminal
Flogas opens Teesside LPG terminal
London, 1 May (Argus) — UK distributor Flogas Britain has officially opened a new LPG terminal at Teesside in northeast England, which it says will boost the UK's security of supply by absorbing previously exported LPG. Flogas, a subsidiary of Dublin-based DCC Energy, developed the terminal alongside midstream companies North Sea Midstream (NSMP) and Exolum. The facility will use LPG produced at NSMP's Teesside gas processing plant (TGPP) and stored at Exolum's tanks. The terminal will supply around 90,000 t/yr to households and businesses in northern England, Scotland and Wales, Flogas says. Supplies from the facility started in February as part of its commissioning, with maximum capacity projected at 120,000 t/yr — volumes will depend on North Sea production and run rates at TGPP, the company says. The terminal — which is located near renewable DME firm Dimeta's Teesside plant project — can also be a gateway for renewable gases in the future, Flogas says. Around 1.2mn t of LPG was exported from Teesside in 2023, accounting for 40pc of the UK's total. Supplies in the northern UK could become more vulnerable after Petroineos announced the planned closure of its 150,000 b/d Grangemouth refinery in Scotland earlier this year, although a large proportion of its supply was exported. The UK consumed 2.4mn t of LPG in 2023, with demand forecast to rise to nearer 2.5mn t this year and in 2025, Argus Analytics data show. Domestic output stood at 3mn t, of which 1.4mn t came from refineries and 1.6mn t from gas processing. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our LPG/NGL products
Argus LPG/NGL solutions include global daily, monthly, and forecasted prices, with forward curves and consulting services for the global LPG and NGL markets.