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EIA reports slight decline in weekly propane/propylene stocks

November 26/2020

MOSCOW (MRC) -- US propane and propylene stocks fell 300,000 barrels (bbl) in the week ended 20 November to 92.6 million bbl, according to Chemweek with reference to the US Energy Information Administration's (EIA)  statement Wednesday.

Nationwide stocks were down 0.4% on the week and were 4.2% above year-ago levels of 88.3 million bbl.

A 900,000 bbl build in the PADD 1 (East Coast) region, to 9 million bbl, partially offset declines in all other PADDs. PADD 3 (Gulf Coast) fell 400,000 bbl to 51.8 million bbl, PADD 2 (Midwest) dropped 600,000 bbl to 25.8 million bbl and PADDs 4 and 5 slid 300,000 bbl to 6.0 million bbl.

Exports of propane and propylene increased 99,000 b/d to 1.323 million bbl, while imports rose 24,000 b/d to 152,000 b/d.

Demand, as suggested by product supplied, fell 299,000 b/d to 1.171 million b/d. Refiner and blender net production of propane and propylene rose 15,000 b/d to 2.295 million b/d.

Following the report's release, bids and offers for Mont Belvieu TET (Lone Star) and non-TET (Enterprise) were both 54.37554.75 cents/gal. That is not far off identical ranges of 54.554.75 cents/gal each grade traded ahead of the data.

Conway was last talked at 52.553 cents/gal, vs. a pre-EIA range of 5252.75 cents/gal.

As MRC wrote before, Enterprise Products Partners LP (EPP), through one of its affiliates, has entered a long-term agreement with Marubeni Corp. of Japan, under which Marubeni will offtake polymer-grade propylene (PGP) produced from a second (PDH 2) plant currently under construction at EPPs operations in Mont Belvieu, Tex., for supply to global customers. Concluded on June 16, the PGP offtake agreement is part of a long-term collaboration between EPP and Marubeni that also includes the export of liquefied ethylene, the first 25-million lb vessel of which loaded and sailed from EPP and Navigator Holdings Ltd.s 50-50 joint venture marine terminal at Morgans Point, Tex., in early January, EPP and Marubeni said on June 30.

We remind that in July, 2020, Enterprise Products conducted maintenance at its propane dehydrogenation (PDH) unit in Mont Belvieu, Texas. This PDH unit has the capacity of 750,000 mt/y of propylene.

Propylene is the main feedstock for the production of polypropylene (PP).

According to MRC's ScanPlast report, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, excluding producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.
Author:Margaret Volkova
Tags:PP, PP random copolymer, propylene, gas processing, petrochemistry, Enterprise Products, Marubeni chemicals, Russia, USA.
Category:General News
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