LPG / NGL
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Iran says suspends military operation against Israel
Iran says suspends military operation against Israel
London, 8 June (Argus) — Iran has suspended its attacks on Israel, state media said today citing the Islamic Revolutionary Guard Corps (IRGC). Crude prices pared some earlier gains. The IRGC said it has suspended military operations that saw ballistic missiles fired at targets in northern Israel. This was Iran's first attack on Israel since 8 April, and promoted retaliatory airstrikes by Israel on what it said were military targets in western and central Iran. "Any continuation of [Israeli] hostilities and wrongdoing — particularly in southern Lebanon — will be met with far harsher and more devastating actions than those previously taken," the IRGC said according to state news agency IRNA. Tehran deems Israeli military action in Lebanon as a part of the wider war involving the two countries and the US, and has said it wants an end to Jerusalem's incursions as part of any deal that could reopen the strait of Hormuz. Israel and Lebanon's central government have reached several ceasefire agreements, with the US facilitating those talks. But Lebanon's central government has little control over Hezbollah, the Iran-backed militant group that has been attacking civilian and military targets in northern Israel. Earlier on Monday, US president Donald Trump appealed for calm. "Israel and Iran must immediately stop "shooting"," he wrote on his Truth Social account. He again said a peace deal is close, "subject to ignorance or stupidity getting in its way", and said the US naval blockade of Iranian shipping in the Gulf of Oman "will remain in place and in full force and effect", until a deal is reached. The front-month August Ice Brent contract fell back from earlier highs after the Iranian announcement, to trade up by around 1pc on the day at $94.13/bl as of 11:50 GMT. It hit an intraday high of above $98/bl earlier in the day. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
LPG World editorial: The crown prince
LPG World editorial: The crown prince
Government backing and growing global interest are set to propel Canada's Prince Rupert into an increasingly important regional LPG hub London, 2 June (Argus) — The Canadian NGL industry's landmark investment in a new rail terminal to facilitate deliveries to Prince Rupert for seaborne export demonstrates its commitment, with government support, to turning the port into a global LPG export hub. The small port city on the British Columbia coast is already home to AltaGas' 92,000 b/d (2.7mn t/yr) Ridley Island propane export terminal (Ripet) and Pembina's 25,000 b/d LPG facility. Ripet will be joined by AltaGas' adjacent Ridley Island energy export facility (Reef) when it opens late this year. Reef will start with 55,000 b/d of capacity, with plans to expand this to 80,000 b/d by 2027 and potentially to 140,000 b/d in the following years, the company said in November. A third terminal within a metaphorical stone's throw of Ripet and Reef could emerge if coal exporter Trigon wins a court case against Prince Rupert Port Authority (PRPA) over its right to operate a planned LPG terminal. PRPA ruled in 2023 that AltaGas and Vopak have time-limited exclusive rights. Trigon is advancing plans for a C$750mn ($549mn) partial conversion of its 18mn t/yr coal terminal into a 2.5mn t/yr LPG export facility. "We are excited about our project and confident in our legal case — we know the [Pacific] coast can support multiple terminals for LPG export growth," Trigon said in mid-2025. Several factors are underpinning Prince Rupert's emergence as a hub. Upstream activity in the Montney shale region of Alberta and British Columbia continues to yield more NGLs , while new gas processing plants and NGL fractionators are boosting supply amid stagnating domestic demand. The wider push to develop LNG exports from the Pacific coast is further catalysing this growth and opening NGL infrastructure opportunities . Ottawa's pivot to export diversification after last year's rupture in US trade relations is also adding momentum. The government launched its Major Projects Office in 2025 to fast-track export projects , and has more recently proposed new regulations and cuts to red tape to expedite infrastructure investment. US president Donald Trump's trade tariffs are also cultivating interest from Asian importers. The US-China trade war has effectively cut off most LPG trade between the two states, prompting Japanese importers to swap their Canadian purchases for US supplies with Chinese buyers. China now receives the large majority of Canadian LPG exports, and importers are keen to do more of this business. Signature Toone Canadian prime minister Mark Carney visited Beijing to sign eight initial agreements with China in early 2026, including a commitment to increase LPG trade. "Right now, LPG is probably the easiest way to get energy over there… we think LPG is a long-term fuel for China," AltaGas' midstream vice-president Randy Toone said at the time. AltaGas at the time signalled its intent to sign LPG term contracts with Chinese customers after receiving "a lot of interest". It is installing a methanol removal unit at Ripet this year so that its propane is viable for China's PDH plants. The Iran war is providing further impetus. The loss of Mideast Gulf LPG leaves Canada as an attractive alternative for Asian importers looking to reduce dependence on the region. India and Canada in March announced plans to finalise a trade deal this year that would "more than double" two-way trade to C$70bn a year by 2030 . The war is also driving petrochemical industry interest in ethane feedstock . Canadian ethane exports are enticing but face steeper infrastructure barriers , although the industry is hopeful these can be overcome in the coming years. Prince Rupert's emergence as an increasingly important regional LPG hub looks all but assured. Depending on the scale of future flows, it could help ease some of the pressure on the US Gulf coast and the Panama Canal in the years ahead. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
LPG supply shock exposes clean cooking users: IEA
LPG supply shock exposes clean cooking users: IEA
Nearly half of LPG users in sub-Saharan Africa are now spending more of their income on cooking fuel, write Efcharis Sgourou and Matt Scotland London, 2 June (Argus) — The Mideast Gulf LPG supply crisis is disrupting access to LPG as a clean cooking fuel among some of the world's most vulnerable people, meaning many will turn back to more harmful fuels without targeted policy action, the IEA has warned. Around 3.4bn people across the developing world rely on LPG for cooking, putting them in a precarious position because of supply shortages and surging prices, the IEA says in a recent report. The effective closure of the strait of Hormuz, through which around 30pc of global seaborne LPG trade transits, has sharply reduced supply and pushed international prices up to record highs . The nascent LPG markets of sub-Saharan Africa are particularly exposed despite their limited dependence on Middle Eastern supply — more than two-thirds arrives from the US — because of surging import costs and household consumers' low wages. Markets that lack price regulation are especially exposed by volatile international benchmarks, the IEA says. Around 45pc of LPG users in sub-Saharan Africa are now spending a higher share of their income on cooking fuel, with one in eight seeing costs increase to more than 10pc of their income, the report finds. "Emerging evidence suggests that rising LPG costs are already weakening sustained use and increasing the risk of fuel stacking or reversion to traditional fuels [like firewood or charcoal]," the IEA's energy analyst for Africa and co-author of the report, Marina Petrelli, says. Although data on the current crisis remains limited, "without mitigation, recent price increases could reverse some of the progress made on clean cooking access", she says. Governments are releasing emergency oil stocks and boosting domestic LPG output where possible, the IEA says. Policy measures adopted since the outset of the crisis include introducing price caps, subsidies and tax cuts to maintain affordability, as well as fuel rationing, supply prioritisation and fuel switching measures, Petrelli says. "[Valued-added tax] removal or price regulation varies significantly across countries... but they are often the first measures considered as they have the advantage of being relatively straightforward to implement, requiring less administrative capacity than more targeted support schemes." Petrelli says. The report notes the lack of strategic reserves in countries with cooking fuel markets, highlighting the need for investment in new LPG storage infrastructure to protect themselves from future crises and strengthen supply security. Few major consuming regions have storage capacity covering more than 75 days of demand, while sub-Saharan Africa holds storage equivalent to 33 days of consumption that is concentrated in a few countries. Accelerating the adoption of electric cooking can also help to lessen dependence on LPG imports, the IEA says. Refugee camps in peril A separate report from non-governmental organisation Acaps has also highlighted the impact the supply crisis is having on refugee camps where LPG is used for cooking. In Bangladesh's Cox's Bazar refugee camp, where more than 1mn stateless Rohingya refugees are based, LPG has been used in place of firewood since 2018. The country received 90-95pc of its LPG imports via the strait of Hormuz, putting these consumers at risk of fuel shortages at camps that are unable to pay higher prices, Acaps says. Addressing these issues requires targeted policy responses. The IEA has created a tool to assess how clean cooking policies affect household affordability and government finances. "Our tool is designed to guide countries in navigating these trade-offs, notably by assessing the impact of tax reforms, which can offer immediate price signals to support uptake while longer-term efforts focus on strengthening the capacity for targeted support," Petrelli says. Sub-Saharan Africa LPG storage capacity Sub-Saharan African LPG storage facilities Sub-Saharan Africa LPG import Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India asks refiners to establish 30-day LPG reserve
India asks refiners to establish 30-day LPG reserve
State-run refiners have ramped up purchases from the US and now must draft a plan exploring all possible storage options, writes Rituparna Ghosh Mumbai, 2 June (Argus) — The Indian government has directed state-controlled refiners to establish an LPG storage reserve covering 30 days of demand as shipping disruptions continue to restrict imports from the Middle East, according to petroleum ministry joint secretary Sujata Sharma. The reserve is likely to require the three refiners, which control the domestic LPG market, to ramp up imports from non-Middle Eastern sources having already pivoted to cargoes from the US on top of existing term contracts. The ministry has asked the refiners to draft a plan exploring all possible storage options, including floating storage. The volume required under the 30-day reserve has not been disclosed but it is likely to be around 2.8mn t based on LPG consumption of about 92,000 t/d, oil ministry data show. The refiners — IOC, BPCL and HPCL — typically store LPG at their import terminals, with combined capacity of around 1mn t and emergency stocks only expected to last as little as 10 days , market participants said just after the Iran war started. The government does not provide data on domestic LPG inventories. The refiners have ramped up spot purchases from the US and deployed time-chartered vessels to the US Gulf coast, some of which transited the strait of Hormuz in April. This is on top of term deals for 2.2mn t of US LPG imports in 2026 . India's LPG imports fell to 1.2mn t in May, nearly half of the country's average intake of closer to 2mn t/month prior to the Iran war, Kpler data show. Domestic LPG production from refineries rose to a record high of 52,000 t/day in May from 50,000 t/d in April, Sharma says, as refineries optimised LPG yields as well as diverting any used as a petrochemical feedstock back to the domestic market. But India's LPG demand is shrinking, dropping by 22pc on the month in March and 8pc in April to less than 2.2mn t as the country continues to grapple with supply shortages . India LPG imports Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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