Counting on a flood of supply from the shale boom, Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, according to Reuters.
Asian petrochemicals firms have traditionally used naphtha as a raw material. Rising U.S. supplies have pushed prices below those of both naphtha and LPG from their main supplier, the Middle East. A looming rise in tanker supply from next year will also help cut U.S.-Asia freight costs. Read more from Reuters.
