Price for Petroleum Gases and Other Gaseous Hydrocarbons in the UK - 2023

Contents:

1. Price for Petroleum Gases and Other Gaseous Hydrocarbons in the UK (CIF) - 2022
2. Price for Petroleum Gases and Other Gaseous Hydrocarbons in the UK (FOB) - 2022
3. Imports of Petroleum Gases and Other Gaseous Hydrocarbons in the UK
4. Exports of Petroleum Gases and Other Gaseous Hydrocarbons in the UK

Price for Petroleum Gases and Other Gaseous Hydrocarbons in the UK (CIF) - 2022

In 2022, the average import price for petroleum gases and other gaseous hydrocarbonses amounted to $742 per ton, picking up by 13% against the previous year. Over the period under review, the import price posted resilient growth. The pace of growth was the most pronounced in 2021 an increase of 190% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Peru ($1,444 per ton), while the price for Algeria ($246 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+31.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Petroleum Gases and Other Gaseous Hydrocarbons in the UK (FOB) - 2022

The average export price for petroleum gases and other gaseous hydrocarbonses stood at $833 per ton in 2022, declining by -5.3% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 25%. The export price peaked at $880 per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($886 per ton), while the average price for exports to Portugal ($522 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Gases and Other Gaseous Hydrocarbons in the UK

In 2022, the amount of petroleum gases and other gaseous hydrocarbonses imported into the UK surged to 80M tons, jumping by 97% against the previous year. Over the period under review, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of petroleum gases and other gaseous hydrocarbonses skyrocketed to $59.7B in 2022. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 345% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Petroleum Gases and Other Gaseous Hydrocarbons to the UK in 2022:

1. United States (30.3M tons)
2. Norway (24.9M tons)
3. Qatar (13.1M tons)
4. Algeria (2.8M tons)
5. Nigeria (2.4M tons)
6. Peru (2.1M tons)
7. Angola (1.6M tons)
8. Trinidad and Tobago (1.5M tons)
9. Russia (1.0M tons)
10. Netherlands (0.1M tons)

Exports of Petroleum Gases and Other Gaseous Hydrocarbons in the UK

In 2022, the amount of petroleum gases and other gaseous hydrocarbonses exported from the UK soared to 13M tons, increasing by 142% against the previous year's figure. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2021 with an increase of 157% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of petroleum gases and other gaseous hydrocarbonses skyrocketed to $10.5B in 2022. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 182%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Petroleum Gases and Other Gaseous Hydrocarbons from the UK in 2022:

1. Ireland (5.1M tons)
2. Netherlands (4.5M tons)
3. Belgium (2.3M tons)
4. Portugal (0.2M tons)

Source: IndexBox Market Intelligence Platform