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Dangote suspends refined product sales in naira
Dangote suspends refined product sales in naira
London, 19 March (Argus) — Nigeria's independently-owned 650,000 b/d Dangote refinery has "temporarily halted" the sale of petroleum products in the country's naira currency, according to a statement seen by Argus today. The decision was taken to "avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in US dollars", the statement read. Dangote said refined product sales in naira "have exceeded the value of naira-denominated crude" the refinery has received, and it will resume naria-denominated product sales as soon as it receives a naira-denominated crude cargo. Nigeria's state-owned NNPC recently said it is in negotiations with Dangote refinery about extending a local currency crude sales arrangement. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
India’s giant LPG pipeline project faces further delay
India’s giant LPG pipeline project faces further delay
The world's largest pipeline has been beset by delays but promises to shorten transportation times within the country, write Rituparna Ghosh and Matt Scotland Mumbai, 18 March (Argus) — The commissioning of the world's largest LPG pipeline in India is unlikely to happen in June and may not take place until at least the second half of the year because of technical issues at Kandla port, according to local industry sources. The 2,800km Kandla-Gorakhpur pipeline project that connects the country's import terminals on the west coast to inland demand centres all the way to northern India has been snagged by technical challenges at the site around Kandla port in Gujarat state, the sources say. The project has been postponed a number of times since prime minister Narendra Modi laid the foundation stone at Gorakhpur in 2019, in large part owing to the Covid-19 pandemic. Project engineers in early 2023 when the worst of the pandemic was over had put its estimated start at the end of the year , but by the end of 2024, state-controlled refiner IOC's pipelines director Senthil Kumar said it would be ready by March this year . Recent local media reports citing Kumar suggest the project would now be completed by June. But this deadline is unlikely to be met given the issues at Kandla, industry sources say. The opening of the pipeline is not expected to significantly boost LPG imports given terminal capacity constraints on the west coast, but it will reduce transportation times for LPG shipments to inland markets that are currently carried by trucks, they say. IOC — which is developing the project alongside peers Bharat Petroleum and Hindustan Petroleum with shares of 50pc, 25pc and 25pc, respectively — is reducing the number of trucks it operates that carry LPG from Kandla to northern India this year, the industry source say. The pipeline will transport around 8.25mn t/yr of LPG, around 25pc of India's total demand, IOC says. Around 340mn residential consumers in Gujarat, Madhya Pradesh and Uttar Pradesh will benefit from uninterrupted and cost-effective supply, the company says. Total investment will be around $1.2bn. LPG will be fed to the line from import terminals in Kandla, Dahej, Pipavav and Mundra, as well IOC's 276,000 b/d Koyali and BPCL's 156,000 b/d Bina refineries. The pipeline will deliver to 22 bottling plants in India's three most populous states, with the added supply intended largely for lower-income rural users under the PMUY subsidy scheme. India's ceramics industry in the Morbi region close to Kandla also stands to benefit from propane shipments made by the pipeline, which will travel through the area, the sources say. Demand for propane in Morbi currently stands at about 4mn m³/d of natural gas equivalent while PNG use is 3mn m³/d, with prices of both similar on an energy equivalent basis, local market participants say. Demand for propane from the region's industrial sector is expected to grow in the coming years as more is imported on India's west coast . The Kandla terminal received 3.2mn t of LPG last year, while the Dahej facility took in 1.38mn t, the Mundra terminal 812,000t and Pipavav 625,000t, Kpler data show. Around 1.53mn t of this came from the UAE, 710,000t from Qatar and 592,000t from Saudi Arabia. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
AltaGas highlights need to target non-US export markets
AltaGas highlights need to target non-US export markets
The Canadian upstream firm is refocusing its LPG exports on markets in Asia as US tariffs are due to come into force early next month, writes Amy Strahan Houston, 18 March (Argus) — The US' possible implementation of a 10pc tariff on Canadian energy imports underscores the benefit of shifting as much LPG exports as possible to markets other than the US, according to Canadian midstream company and seaborne LPG exporter AltaGas. "With US tariffs, it's even more critical to connect Canada's energy exports to Asian markets," AltaGas chief executive Vern Yu said on 7 March. US president Donald Trump repealed his administration's implementation of the 10pc tariff for another month on 6 March after they officially came into force on 4 March. Yet the uncertainty still led to buying interest at the LPG trading hub in Edmonton, Alberta, withering as market participants tried to gauge when the 10pc tax might be introduced while simultaneously trying to negotiate term contracts for next winter. AltaGas says it does not expect any significant impact on its natural gas liquids (NGL) operations from the tariffs but has stopped short of giving any financial guidance past the first half of this year, citing slower-than-normal term discussions and subsequent delays to its hedging programme for full-year 2025. "Tariffs will have a negative impact on the cash flows of our upstream customers, but tariffs will be partially offset by a stronger US dollar," Yu says. "As a result, we do not expect material changes to natural gas and NGL production volumes." The Calgary-based firm expects Canadian natural gas production to rise by 25pc by 2030 as domestic producers, similarly to those in the US, ramp up operations to supply upcoming LNG export projects. Canada exported 123,600 b/d (3.64mn t/yr) of propane by rail to the US in 2024, the Canada Energy Regulator (CER) says, with a fraction of this — about 23,000 b/d — transiting to Mexico, based on data from the US EIA. Canada faces the same growing LPG supply length as the US linked to gas production expansion, and while seaborne exports to northeast Asia from terminals on its Pacific coast are rising, it is still reliant on deliveries over the border to the US — seaborne to rail are split. As a result, propane prices at Edmonton trade at a discount to equivalent prices at the US midcontinent hub of Conway to maintain southbound flows. The US tariffs are expected to weigh on LPG prices in western Canada, according to market participants and AltaGas. "Canadian NGL prices will partially discount to offset the cost of tariffs while Asian prices will remain unchanged. This will cause a wider Canada to Asia LPG spread, which we expect to be modestly additive to our merchant export margins," Yu says. AltaGas exported 122,200 b/d of LPG from its Pacific coast terminals in Ridley Island, British Columbia, and Ferndale in the US state of Washington, during the fourth quarter of 2024, up by more than a third on the year. Exports from the two terminals over the whole of last year rose by 15pc from 2023, the firm says. Northeast Asian delivered propane prices under the Argus Far East Index (AFEI) averaged an $18.85/bl premium to US Gulf coast Mont Belvieu LST prices in the fourth quarter, compared with a $26.44/bl premium a year earlier. Roughly 87pc of AltaGas' LPG exports loading in the first half of 2025 are under long-term deals or hedged on an AFEI basis against US pricing at $18.61/bl. Corral Reef The company continues to work on expanding its exports after reaching a final investment decision on its new 56,000 b/d (1.8mn t/yr) "Reef" LPG terminal, adjacent to the Ridley Island propane terminal, last year and plans to open it in 2026 . AltaGas is also working on removing methanol from its propane shipments although it has not provided a timeline. Once completed, propane loaded at Ridley Island will meet quality specifications for more markets in South Korea and Japan, as well as propane dehydrogenation facilities in China, Yu says. Canada LNG and LPG infrastructure Canada LPG exports by freight type Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
RLG output could reach 27mn t/yr by 2050: LGE
RLG output could reach 27mn t/yr by 2050: LGE
Reform of the current European regulatory environment is needed to help boost renewable liquid gas production, writes Peter Wilton London, 18 March (Argus) — European production of renewable LPG and dimethyl ether (DME) — often referred to collectively as renewable liquid gas (RLG) — could reach 27.4mn t/yr by 2050 under a supportive policy scenario, a report from European LPG association Liquid Gas Europe finds. This level of output is around 80pc of Europe's current annual consumption and would be 100pc of demand by 2040 under a forecast from Argus Consulting. The RLG Outlook report, conducted by consultancies NNFCC and Frazer-Nash, also provides a "baseline" and "moderate" scenario where RLG output hits 6.3mn t and 12.4mn t, respectively, by 2050. The "high" scenario that projects 27.4mn t rests on strong policy support and feedstock availability. This high scenario will require simplicity and certainty in regulatory frameworks, the harmonising of EU legislative definitions, adoption of a lifecycle emissions approach, the recognition of RLGs as sustainable investments, and reformed energy taxation, the report says. RLG's multiple production pathways also means that feedstock availability will not constrain output. This will initially mainly be in the form of bioLPG from hydrotreated vegetable oil (HVO) plants, but dedicated bioLPG and renewable DME production pathways utilising gasification will play a larger role later in the timeframe. Europe is to produce around 220,000t of renewable LPG this year, climbing to about 380,000 t/yr by 2030 based on planned additional capacity, Argus estimates. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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