Global LPG production has increased by 25 percent since 2010, according to David Appleton, senior LPG analyst at Argus Consulting on Wednesday.
Appleton confirmed during the European LPG Congress (AEGPL) in Lisbon that the largest LPG producers are the U.S., China and Saudi Arabia.
He said the largest increase in LPG production since 2010 was seen in the U.S. as a result of the shale boom, and that the Asia-Pacific region is the fastest growing demand region by far.
He added that LPG demand in Europe increased by 15 percent from 34 million tonnes to 39 million tonnes from 2010 to 2016.
He also noted that North America was the only region with falling demand.
Appleton affirmed that any output cuts made by OPEC producers would be filled through U.S. shale production and also that LPG prices are unlikely to rise.
'Both propane and butane are forecasted to remain in their current range over the next 18 months. Higher butane demand is expected to add some upward pressure and potentially higher volatility,' he said and added 'Autogas is growing in the east, but is stagnant in the west. Turkey is one of the biggest autogas markets followed by Ukraine and Poland.'
Turkey's LPG demand increased by 9 percent in 2015, compared to 2014 and it now has the highest number of vehicles running on autogas with over 4 million vehicles, followed by Russia, Poland, South Korea and India.
By Murat Temizer in Lisbon
Anadolu Agency
energy@aa.com.tr