Investor Presentaiton
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China Continues to Drive Asian LPG Demand
Chinese LPG Demand Outlook Remains Favorable
China's 3Q20 imports decreased by 2.9% Y/Y to 5.2 MTPA vs. 5.4 MTPA in 3Q19
YTD imports decreased by 5.6% Y/Y to 14.4 MTPA vs. 15.2 MTPA for the same period last year
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4Q20 imports are expected to stay healthy as China seeks to build inventory ahead of winter demand
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PDH utilization averaged nearly 85% in August, up from 79% in July
Lunar New Year and Lockdowns Impacted YTD Demand, but Inventory Restocking is Underway
25.0
CAGR: 30.5%
20.5
18.3
18.8
Y/Y:
(5.6)%
20.0
15.2
14.4
15.0
10.0
6.9
4.2
5.0
11.9
15.9
2013
2014
2015
2016
2017
2018
2019
2019 YTD
2020 YTD
Source: Bloomberg
Note: YTD values shown through September 30, 2020
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