Harvey's Roar Rumbles Half a World Away as LPG in Asia Jumps
- More than 90% of U.S. shipments to Asia leave from Gulf Coast
- Mideast producers raise September prices by $40-$60 a ton
Rousseau Says Electric Systems Big Issue With Harvey
Asian buyers of liquefied petroleum gas are already paying for disruptions half a world away in Texas as record rainfall halted shipments of propane and butane from ports that handle more than 90 percent of U.S. exports to the region.
Marine export terminals operated by Enterprise Products Partners LP, Targa Resources Inc. and Phillips 66, all suppliers of the fuel, are shut because of closures at the Houston Ship Channel, Port of Beaumont and Port of Freeport, according to statements Tuesday from the companies. Mont Belvieu, Texas, facilities belonging to Enterprise and Targa have also halted some fractionation operations, in which raw liquids are turned into products like propane and butane. There are no estimates yet for when the ports will reopen.