South Korea's LPG stocks fall in October

Market: LPG
24/11/23

South Korea's private-sector LPG stocks declined in October from a month ago, as lower imports outweighed the impacts of weaker demand from transportation and industry sectors and higher output at domestic refineries.

LPG inventories in South Korea dropped by 5.6pc over the month and by 1.5pc against the previous year to 431,501t in October, according to the state-owned KNOC. Propane and butane stocks fell by 6.3pc on the month to 254,919t and by 4.5pc to 176,582t on respectively.

By Nanami Oki

South Korea LPG balance					t
	Oct-23	Sep-23	Oct-22	Jan-Oct 2023	Jan-Oct 2022
Production
Total	205,642	194,863	159,302	1,969,695	2,068,561
Propane	85,216	77,757	51,324	738,324	781,865
Butane	120,426	117,107	107,978	1,231,370	1,286,696
Imports
Total	667,345	722,706	734,943	6,747,105	7,295,582
Propane	474,811	505,459	521,108	5,155,378	5,614,135
Butane	192,534	217,246	213,835	1,591,727	1,681,447
Consumption
Total	903,008	915,517	875,943	8,854,016	9,361,946
Propane	582,486	566,595	568,054	5,817,730	6,276,973
Butane	320,521	348,922	307,889	3,036,286	3,084,973
Exports
Total	3,234	3,234	4,585	41,981	50,043
Propane	1,297	1,297	4,216	23,189	39,162
Butane	1,936	1,936	369	22,684	10,881
Stocks
Total	431,501	456,908	438,153	4,360,417	4,087,831
Propane	254,919	272,027	262,216	2,520,000	2,550,324
Butane	176,582	184,881	175,936	1,840,417	1,537,507
					Source: KNOC

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