In the first part of our Bangladesh special yesterday, we looked at the country itself and what’s happening with demand, domestic natgas and future imports of LNG. Today we will consider what the next step will be to get this substantial volume of LPG into the country over the next 5-10 years.
The North West European market used to be really exciting, it was the happening place, new production in both UK and Norwegian sectors, lots of load ports such as Sullom Voe, Braefoot Bay, Grangemouth, Flotta, Tees and Karstoe. The entry of the petrochemical buyers such as ICI in Tees, Dow in Terneuzen, Norsk Hydro in Rafnes, and Esso in Stenungsund. The big boys were all there BP, Shell, Esso Europe, Texaco, Mobil, Gulf and Chevron.
In part one of the Blog, I gave you a flavour of the incredible development of LPG in Indonesia, taken very much from my own unique perspective. I explained it was for strategic reasons that the contract was taken, but, why do traders see supply contracts with Pertamina in Indonesia through such rose-tinted glasses?