加拿大抢占LPG亚洲市场

Core Insights - Canada is rapidly advancing its LPG export infrastructure, particularly to Asia, to overcome its historical lag behind the U.S. in this sector [1] - The U.S. LPG market is becoming saturated, making it crucial for Canada to maximize the value of its LPG products through Asian exports [1] - Canadian LPG exports from Ridley Island are yielding approximately $5 more per barrel compared to exports to the U.S. [1] Group 1: Infrastructure Development - The construction of export facilities in British Columbia is set to position Canada as a long-term LPG supplier in North America [1] - AltaGas and Wapahak are collaborating on the Ridley Island Energy Export Facility (REEF) project, with an initial investment of $970 million and a processing capacity of 55,000 barrels per day, expected to be operational by the end of 2026 [2] - Additional projects are underway to further enhance processing capacities, including a planned increase of 25,000 barrels per day by mid-2027 [2] Group 2: Export Dynamics - AltaGas exported an average of 133,000 barrels per day in Q3 2025, primarily to Japan and South Korea, with a growing focus on China due to increased demand for propane [3] - The daily export volume of propane from Canada is projected to rise from 230,000 barrels in 2025 to 244,000 barrels in 2026, while butane exports are expected to increase from 78,000 barrels to 83,000 barrels [3] - The production of natural gas liquids (NGLs) in the Montney Basin is expected to grow from 1.4 million barrels per day in 2019 to 1.6 million barrels per day by 2025, driven by new projects [3] Group 3: Competitive Landscape - Canadian LPG exports face challenges from pricing competition with U.S. Gulf Coast and Middle Eastern competitors [4] - Increased drilling activity in the U.S. Permian Basin is expected to intensify competition in the North American liquid energy market [4] - Overall, Canada is anticipated to become one of the largest global LPG suppliers, leveraging its pricing, logistics, and production advantages to secure a significant position in the Asian LPG market [4]