19 April 2013 13:43 [Source: ICIS news]
SHANGHAI (ICIS)--China’s propane import volume will double in 2015 if all the new propane dehydrogenation (PDH) units planned or currently under construction in the country come on stream as planned, a senior executive of investment firm Legend Holdings said on Friday.
China is expected to bring on stream a total of 6m tonnes/year of new PDH capacities by 2015, said Yan Leping, Legend’s director of strategic investment.
Propane import prices into China will rise significantly if US propane suppliers’ plans to more than double their total exports in 2015 fail to materialise, and the Middle East continue to be the major propane supplier to China, he said.
US suppliers will need more propane loading capacity and lower propane shipment costs in order to significantly increase their propane export volumes, Yan said.
US suppliers were estimated to have exported 3.61m tonnes of propane in 2011, of which 65% was sold to Latin America and 5% to Asia.
China’s propane requirements are currently fully met by imports, he said.
Yan was speaking at the 7th China Petrochemical Forum, a two-day conference in Shanghai which ended on Friday.
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