Iran Halts LPG Exports to Japan
Iran on Wednesday said it has stopped exports of LPG to Japan.
Although no reason was offered, according to Mehr News Agency, Director general of the Association of Petrochemical Industry Corporations (APIC) Ahmad Mahdavi said currently, many customers are calling for Iran’s liquid gas to the extent that the demand exceeds the supply.
“At present, insurance issues and supplying of LPG carriers have been relatively solved as no limitation is perceived for the exports of the Iranian product,” Mahdavi said.
He added that in the last few months some buyers have managed to receive the product through their own LPG carriers.
“Despite the termination of liquid gas exports to Japan, Iran’s LPG has its own customers,” he stated.
During the past decade all major global energy firms had pulled out of Iran due to western sanctions. However, with most of the sanctions now lifted, Tehran is working overtime to woo these entities back into the country. Iran needs billions of dollars in investment to upgrade its energy infrastructure. The middle eastern nation wants to quickly start exporting gas to growing markets in Asia as well as to Europe.