Investor Presentaiton
Asian Cracking Demand Dependent on LPG / Naphtha
Spread
Additional Asian Cracking Capacity is Planned
FE Propane / Naphtha Spread¹
Company
Location
LPG Required
('000 tons)
Estimated
Completion
$20
2016 2017 2018 2019 2020 2021 2022 2023
$14
HMEL HPCL-Mittal
India
1,000
1Q23
CNPC Jieyang/PetroChina
China
500
2023
$(1)
Long Son (SCG Chemical)
Vietnam
550
2023
PTT
Thailand
100
2023
$(20)
Lotte
S. Korea
240
2023
$(19)
Shenghong Petrochemical
China
440
2023
$(40)
ExxonMobil
China
680
2024
GAIL
India
540
2025
PMT
$(60)
Lotte/PT Titan PENI
Indonesia
440
2025
$(58)
$(57)
Gulei Petrochemical/Sinopec - Phase 2
China
800
late 2025
$(65)
BASF
China
~500
2026
$(80)
SABIC & FJPEC
China
~1000
2026
Pertamina/Rosneft
Engro
Indonesia
2,500
2027
$(100)
Pakistan
800
2027
$(91)
$(97)
$(120)
Source: NGLS, Bloomberg
1.
As of January 27, 2023
Note: Negative spread denotes LPG is cheaper than naphtha
20View entire presentation