Greece: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Greece

After two years of growth, the Greek liquefied petroleum gas (LPG) market decreased by X% to $X in 2023. Over the period under review, consumption enjoyed mild growth. Liquefied petroleum gas (LPG) consumption peaked at $X in 2022, and then dropped sharply in the following year.

Production of Liquefied Petroleum Gas (LPG) in Greece

In value terms, liquefied petroleum gas (LPG) production declined remarkably to $X in 2023 estimated in export price. Over the period under review, production, however, saw a slight setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Liquefied petroleum gas (LPG) production peaked at $X in 2022, and then contracted significantly in the following year.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Greece

After two years of decline, overseas shipments of liquefied petroleum gas (LPG) increased by X% to X tons in 2023. Over the period under review, exports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports shrank sharply to $X in 2023. In general, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Tunisia (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Greece, accounting for a X% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to Tunisia exceeded the volume sent to the second major destination, Lebanon (X tons), twofold. Cyprus (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Tunisia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (X% per year) and Cyprus (X% per year).

In value terms, the largest markets for liquefied petroleum gas (LPG) exported from Greece were Tunisia ($X), Lebanon ($X) and Cyprus ($X), together comprising X% of total exports. Albania, North Macedonia, Turkey and Morocco lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average liquefied petroleum gas (LPG) export price stood at $X per ton in 2023, declining by X% against the previous year. In general, the export price saw a noticeable downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Morocco ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (X%), while the prices for the other major destinations experienced a decline.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Greece

In 2023, supplies from abroad of liquefied petroleum gas (LPG) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are likely to see steady growth in the near future.

In value terms, liquefied petroleum gas (LPG) imports fell remarkably to $X in 2023. Overall, total imports indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped rapidly in the following year.

Imports by Country

In 2023, Algeria (X tons) constituted the largest liquefied petroleum gas (LPG) supplier to Greece, with a X% share of total imports. Moreover, liquefied petroleum gas (LPG) imports from Algeria exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Egypt (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Algeria totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Egypt (X% per year).

In value terms, Algeria ($X), the United States ($X) and France ($X) were the largest liquefied petroleum gas (LPG) suppliers to Greece, with a combined X% share of total imports. Egypt, Tunisia, the Netherlands, Albania and Kazakhstan lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average liquefied petroleum gas (LPG) import price stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price recorded a deep contraction. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform