Condensate production in the Gulf region will grow from 2.32mn b/d in 2012 to almost 4mn b/d in 2022, according to Houston-based Asia Pacific Energy Consulting (APEC). Yet condensate exports are predicted to decline after 2016 because of a strong growth in feedstock demand as a result of the massive petrochemicals expansion under way in the Gulf that will add some 13mn tons/year of capacity (MEES, 1 November).
APEC’s recently published Condensate East of Suez 2013 report (see p16) says that “as Gulf exporters run out of ethane and LPG to supply the expansion of base petrochemical capacity, they may have to increasingly rely on condensate to fill the gap.” Most of the envisaged incremental Gulf condensate output will be a by-product of the recovery of associated gas in oil field developments. APEC concluded that regional gas and NGLs price reform may be needed to spur development of incremental supply. (CONTINUED - 695 WORDS)
