Wed, Apr 16, 2014, 2:56 AM EDT - U.S. Markets open in 6 hrs 34 mins

Recent

% | $
Quotes you view appear here for quick access.

MarkWest Energy Partners, L.P. Message Board

  • moneyonomics moneyonomics Aug 15, 2013 11:15 AM Flag

    US propane spot prices rally on burgeoning exports

    HOUSTON (ICIS)--US propane spot prices have rebounded in recent weeks, as burgeoning export markets have provided an outlet for excess supplies.

    Since the beginning of 2013, propane prices have strengthened by almost 19%, going from 84.13 cents/gal in January to 99.75 cents/gal on 8 August. Prices have not reached triple digits since October 2012, and sources say it’s only a matter of time before they get there again.

    The surge in exports over the past few months has played a key role in the rally.

    In fact, the import/export balance for propane has made a dramatic shift over the past several years.

    Since 2007, exports have grown from practically nothing to 252,000 bbl/day for the week ending 2 August, according to the US Energy Information Administration (EIA).

    Accordingly, propane exports have gone from over 100,000 bbl/day to practically nothing today, according to RBN Energy.

    This dramatic swing owes itself to nonstop production from the many shale gas fields popping up across the US....

    ...In anticipation for these developments, a handful of companies have built or expanded export facilities, the biggest coming from Enterprise Products Partners, which finished an expansion of its export facility at the Houston Ship Channel in the spring.

    The facility can handle up to 7.5m bbl/month of exports. The company recently said it is considering another project that would allow it to increase capacity fairly quickly and with little disruption or cost.

    Chief operating officer AJ Teague said the export facility is performing beyond their expectations...."

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Targa is opening phase one of its' propane export terminal at Galena Park,Texas, on the Houston Ship Channel in 30 days..will add over 30million barrels/year of propane exports..and it is already sold out. Targa's Phase two expansion to over 50 million barrels/ year of propane comes on line in one year. SXL is so far behind with its' Marcus Hook terminal it isn't even funny....

 
MWE
63.31-0.61(-0.95%)Apr 15 4:02 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.