SINGAPORE: Asia will likely import record volumes of liquefied petroleum gas (LPG) in 2020 as firms snap up the fuel to make petrochemicals used in protective gear against the coronavirus, while households under lockdown ramped up purchases for cooking.The region will buy some 67-69.5 million tonnes of the gas from abroad this year, surpassing last year's record, analysts from consultancy firms IHS Markit, FGE and Wood Mackenzie said. That would represent a 1-3 per cent increase on 2019 import volumes.Strong Asian demand could weigh on supplies in coming months just as Europe is likely to step up purchases of the fuel for heating in winter, an industry source in Singapore said. While supply was hit by a cut in commodity production in the second quarter, output has recovered some ground since then."We expect (LPG) import demand to increase in 2020 over 2019 with stronger demand in both residential and petrochemical sectors," said Rui Hou, research analyst of Wood Mackenzie.He Yanyu, IHS … [Read more...] about Asia to import record LPG in 2020 as pandemic boosts demand for protective gear, cooking
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China said on Monday it would raise tariffs on liquefied natural gas (LNG) imports from the United States amid a series of additional levies, a move that could further reduce U.S. LNG shipments to the world's fastest growing importer of the fuel.So far this year, only two LNG vessels have gone from the United States to China, versus 14 during the first four months of 2018 before the start of the 10-month trade war.On Monday, China said it would boost the tariff on U.S. LNG to 25% starting June 1 versus the current rate of 10%.That move came in retaliation for a U.S. increase on Friday in tariffs on $200 billion in Chinese goods to 25% from 10%.Between February 2016, when the United States started exporting LNG from the Lower 48 states, and July 2018, when the trade war started, China was the third biggest purchaser of U.S. shipments of the supercooled fuel. So far this year, China is not even in the top 15."I expect they will have a hard time landing a tanker carrying U.S. LNG in China … [Read more...] about US liquefied natural gas shipments to China face mounting tariffs