The LP gas market in Latin America faces complex challenges driven by a number of factors, including U.S. shale gas exports and increased production of natural gas liquids (NGL), according to IHS Markit.
IHS reports these market factors, along with rising crude prices, have influenced budgets in Latin America, where consumers rely heavily on LP gas as a fuel for heating appliances, cooking equipment and vehicles. IHS Markit plans to discuss these challenges at its upcoming 2016 IHS Latin America LPG Seminar and Workshops Nov. 7-9 at the Hotel Panamericano in Buenos Aires, Argentina.
“LP gas production and exports from the U.S. have completely changed global trade patterns, which is being felt in Latin American markets,” says Walt Hart, vice president of NGL research and consulting at IHS Markit. “We’ve been hosting this event for 22 years, and many in the industry are commenting that this is the most complex market they have ever experienced. Global LNG production has increased and a glut is expected, and at the same time the region is responding to rising crude oil prices and potential implications from the Mexican energy reform, so these issues will drive our discussions at the event.”
Company executives from oil and gas producers, refiners, petrochemical producers, distributors, traders and ministry officials will join IHS Markit researchers at the event. In addition, IHS Markit will offer three on-site LP gas workshops during the event, titled “Fundamentals of LPG Markets,” “NGL Price Drivers” and “Basics of Waterborne LPG Shipping.”