2nd OPIS Global LPS Conference – Recap
Last year, the inaugural OPIS Global LPG Conference brought together over 200 energy professionals from 25 different countries. This year an even larger crowd assembled. Both Eastern and Western hemispheres were well represented, with participants coming from diverse locations.
For the past two years, I have been given the opportunity to speak at this conference. I am thankful not just for the opportunities to speak, but also for the chance to meet and connect with LPG leaders and professionals who might not be from my “neck of the woods.”
Common Themes
At this year’s conference, multiple speakers had similar themes. Two of the most common themes were as follows:
- Propane production within the United States is expected to keep increasing.
- As propane production increases, the United States will need to export this product.
Understanding the Global Landscape
These themes are not completely original, but they do allow the market to better understand the global landscape. The facts – that U.S. propane production is increasing, and that this increase needs to be exported – support many changes in infrastructure and purchasing from companies and nations alike. For example:
- Companies like Enterprise, Energy Transfer, Targa, and others are expanding their infrastructure to accommodate these trends.
- The Panama Canal authority is actively pursuing a pipeline project that would remove several LPG vessels from the daily canal trips.
- Many other nations are aggressively seeking supply from North America.
Propane (LPG) usage around the globe also seems to be increasing. One of the future areas of growth could be within Sub-Saharan Africa. On multiple occasions, I have had the opportunity to hear Adrian Calcaneo speak about propane as an integral tool to help mitigate energy poverty. An estimated 2.4 billion individuals use biomass, firewood, or coal as their main fuel for cooking and heating their homes. LPG is a cleaner energy source that provides health benefits and allows family members greater opportunities to enhance their education and livelihoods.
Westlark Advisors at OPIS Global LPG Conference
Gabriel Amundarain and I represented the Westlark Advisors’ Team at this conference. We were able to discuss the market, as well as pass out our signature Westlark discs. Our panel discussion covered topics like:
- The multi-generational shift in the North American demand market
- The relevance (or not) of Conway storage for Midwestern U.S. markets
- How a price change in the Saudi CP market drove Mt. Belvieu prices for the month of October
Westlark Advisors is Grateful
The Westlark Team is grateful to OPIS for the opportunity to participate and speak at this conference. However, we are also grateful to our clients. The only constant in the energy industry is change, and today, that statement is more relevant than ever before. In order for Westlark Advisors to continue providing expert energy advice, it is important for our team to be involved in these types of events.
So, to our clients, we appreciate you and thank you for understanding the “why” behind our participation. We are passionate about providing you with honest and transparent commodity advice you can trust. To do this, we need to stay on top of what is happening down the street, across the country, and now – across the globe.
Contact JD Buss or Gabriel Amundarain to find out more about what happened at the recent OPIS Global LPG Conference. Ask a Westlark Team Member for a copy of our newest disc.
2nd OPIS Global LPG Conference
By JD Buss
