WLPGA published its Annual Report for 2021, noting that it maintained its momentum in supporting its members, surpassing all its targets.
The LPG industry in 2021
According to the report, LPG supply reduced by 1.4%, reaching 329.4 million tons, while the demand followed a similar trajectory, falling 2.6%, to 316.9 million tons. In a similar pattern, LPG consumption fell by 2.6%.
As for the top LPG markets for 2021, these are:
- China
- US
- India
In fact, in India, its domestic demand rose by 4.7%, reaching 24.5 million tons.
#1 US
#2 China
#3 Saudi Arabia
LPG as Marine Fuel
According to WLPGA, this year was a highly successful year for for establishing LPG as a marine fuel.
With the IMO2020 regulations on sulphur cup already in place from 2020, and the IMO GHG Strategy 2050 putting pressure on the shipping industry to reduce pollutants and to decarbonise, the use of LPG as a marine fuel saw a significant uptake. By the end of the year there were 120 confirmed orders for LPG powered vessels, with 15 of these vessels were already operating
Once all these vessels are operational, this will represent the the equivalent of an additional 1 million tonnes of market growth.
WLPGA also organised and/or participated in eight WLPGA marine and shipping related events and webinars to
promote the case of LPG as marine fuel.
Meeting at least 50% of the 2050 non-chemical LPG demand with renewable LPG
A significant part of the Innovation and Growt (IGO) activity in 2021 was the work done to demonstrate the credibility of the industry of meeting at least 50% of the 2050 non-chemical LPG demand with renewable LPG.
A dedicated report, covering global supply, was produced to support this. The report, carried out by Atlantic Consulting, took into consideration public energy authoritative scenarios such as IEA, IRENA, DNV etc., and concluded that by 2050, renewable LPG supply can indeed meet at least 50% of non-chemical LPG consumption, even in the most-extreme scenarios postulated by energy authorities.
This could mean the production of over 200 million tonnes of renewable LPG, however, the report stipulated that the right conditions must be in place in terms of government policies, successful innovation and growing demand for renewable fuels
said WLPGA.
LPG Week 2021
This year, the WLPGA brought the hybrid LPG Week 2021/Dubai, which was the first in-person LPG Week as well as being hosted online.
LPG Week was a hugely successful hybrid event organised by the World LPG Association (WLPGA) that took place 5th-9th December under the theme Energising Tomorrow with the patronage of His Highness Sheikh Ahmed Bin Saeed Al Maktoum
the report notes.
This marked the first hybrid LPG Week, a week where almost 2,000 participants came together from 92 countries.
#1 This year was the second year of its 2020-2022 Strategic Plan, initially launched in January 2020, under the theme of ‘Solutions for a Responsible Energy Future’.
#2 Albeit all challenges during 2021, WLPGA maintained momentum in supporting its members, surpassing all its targets and ending the year with the hugely successful LPG Week in Dubai.
#3 LPG Week marked the first time the industry has been able to meet face-to-face for some time, and it proved an exceptional event for all.
#4 WLPGA was voted “International Association of the Year 2021” by the International & European Association Awards 2021, organised by the Association of Association Executives.
EXPLORE MORE IN WLPGA’S ANNUAL REPORT
