Azerbaijan: Market for Liquefied Petroleum Gas (LPG) 2022

Market Size for Liquefied Petroleum Gas (LPG) in Azerbaijan

After two years of decline, the Azerbaijani liquefied petroleum gas (LPG) market increased by 19% to $X in 2021. Over the period under review, consumption, however, recorded a abrupt decrease. Liquefied petroleum gas (LPG) consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Liquefied Petroleum Gas (LPG) in Azerbaijan

In value terms, liquefied petroleum gas (LPG) production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, recorded a deep setback. Liquefied petroleum gas (LPG) production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Azerbaijan

In 2021, liquefied petroleum gas (lpg) exports from Azerbaijan soared to X tons, jumping by 140% against the previous year's figure. Overall, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Azerbaijan, accounting for a 89% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to Russia exceeded the volume sent to the second major destination, Pakistan (X tons), more than tenfold. Afghanistan (X tons) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume to Russia totaled +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+19.9% per year) and Afghanistan (+12.6% per year).

In value terms, Russia ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Azerbaijan, comprising 92% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 3.7% share of total exports. It was followed by Georgia, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value to Russia amounted to +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+16.4% per year) and Georgia (-14.7% per year).

Export Prices by Country

The average liquefied petroleum gas (LPG) export price stood at $X per ton in 2021, shrinking by -10.7% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2017 an increase of 13%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Georgia ($X per ton), while the average price for exports to Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Afghanistan (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Azerbaijan

After two years of growth, overseas purchases of liquefied petroleum gas (LPG) decreased by -87.1% to X tons in 2021. In general, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 94% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then declined sharply in the following year.

In value terms, liquefied petroleum gas (LPG) imports dropped markedly to $X in 2021. Overall, imports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2019 with an increase of 182%. Over the period under review, imports reached the peak figure at $X in 2020, and then dropped rapidly in the following year.

Imports by Country

Russia (X tons), the United Arab Emirates (X tons) and Romania (X tons) were the main suppliers of liquefied petroleum gas (LPG) imports to Azerbaijan, with a combined 97% share of total imports.

From 2012 to 2021, the biggest increases were in Romania (with a CAGR of +438.5%), while purchases for the other leaders experienced a decline.

In value terms, Romania ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Azerbaijan, comprising 48% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Russia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Romania totaled +285.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-17.7% per year) and Russia (-9.5% per year).

Import Prices by Country

The average liquefied petroleum gas (LPG) import price stood at $X per ton in 2021, jumping by 270% against the previous year. Over the period under review, the import price saw a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Switzerland ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+101.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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