Vietnam's import of liquefied gas from Qatar increased sharply

According to preliminary statistics from the General Department of Customs, in the first 5 months of 2024, Vietnam imported nearly 1.26 million tons of liquefied petroleum gas (LPG), worth over 819.35 million USD, with an average price of 650.6 USD/ton, up 24.9% in volume and 20.6% in value but down 3.5% in price compared to the first 5 months of 2023.

In May 2024 alone, 273,021 tons of liquefied gas were imported, equivalent to over 169.71 million USD, with an average price of 621.6 USD/ton, up 5.1% in volume, up 13.5% in value and up 8.1% in price compared to April 2024.

Liquefied petroleum gas of all kinds imported into Vietnam mainly comes from three major markets: Qatar, Malaysia and Saudi Arabia; of which, the majority originates from the Qatar market.

Vietnam's import of liquefied gas from Qatar increased sharply

Imports from Qatar reached 277,703 tons, equivalent to over 165.97 million USD, priced at 597.7 USD/ton, up 202.4% in volume, up 169.9% in value but down 10.7% in price compared to the first 5 months of 2023; accounting for 22.1% of the total volume and 20.3% of the total import turnover of liquefied petroleum gas of the whole country.

In May 2024 alone, imports from this market reached 41,902 tons, equivalent to over 27.66 million USD, priced at 660 USD/ton, down sharply by 35.7% in volume but up 0.8% in value compared to April 2024 and prices increased by 56.8%; However, in May 2023, our country did not import liquefied gas from this market.

Ranked second is the Malaysian market with 219,814 tons, equivalent to 144.91 million USD, import price of 659.3 USD/ton, a sharp increase of 330.7% in volume, 314.6% in turnover but a decrease of 3.7% in price compared to the first 5 months of 2023, accounting for nearly 18% of the total volume and total turnover.

Next is the Saudi Arabia market with 187,428 tons, worth 125.44 million USD, price 669.3 USD/ton, down 28.4% in volume, down 31.2% in turnover and down 3.8% in price compared to the first 5 months of 2023, accounting for 14.9% of the total volume and 15.3% of the total import turnover of liquefied petroleum gas of the whole country.

LPG in Vietnam is mainly used to fill tanks to serve people's needs such as heating, cooking, industry, use in vehicles, refrigerants... Besides, other applications from LPG products are still low such as use in petrochemical technology.

Currently, domestic gas supply can only proactively meet about 60% of consumption. Therefore, domestic gas retail prices are controlled and influenced by world gas prices.

Domestic retail gas prices in June continued to decrease from June 1. Specifically, the retail price of Petrolimex gas cylinders (including VAT) in June in the Hanoi market was 445,400 VND/12kg household cylinder; 1,781,500 VND/48kg industrial cylinder, respectively decreasing 3,400 VND/12kg cylinder and 13,700 VND/48kg cylinder (including VAT).

Source: https://congthuong.vn/viet-nam-nhap-khau-khi-dot-hoa-long-cua-qatar-tang-manh-327031.html