Source: The Economic Times; 27 December 2017
LPG shipments to India will reach 2.4 million tonnes in December, pushing it ahead of top importer China, on 2.3 million tonnes, for the first time.
India’s average monthly imports in 2017 of about 1.7 million tonnes are well still behind China’s 2.2 million tonnes, but it has jumped ahead of third-placed Japan on about 1 million tonnes.
The government’s push towards using clean energy for cooking in rural households that have been using wood and coal as fuel for decades has led to a surge in consumption of LPG cylinders. The rising use of LPG in cars, following an Indian tax on gasoline, has also spurred demand.
The global market is similar in size to liquefied natural gas (LNG), at around 300 million tonnes traded a year, although both are dwarfed by the market for crude oil, which stands at well over 4 billion tonnes a year.
At present, China, India and Japan together make up about 45 percent of global LPG purchases.