In early October, we brought you the news that propane (C3H8) was the most-exported U.S. petroleum product in the first half of 2023, averaging 1.5 million barrels per day (b/d), continuing a trend that began in 2020 (see Propane #1 Most Exported U.S. Petroleum Product First Half 2023). U.S. propane exports have been driving increased U.S. petroleum product exports for the past four years. Part of the propane export success story is right here in the Marcellus/Utica (see Marcus Hook Propane Exports Heat Up). However, there is a problem with propane (and even LNG) exports. The Panama Canal, a key link between the U.S. and Japan where much of our propane is shipped, is facing the worst drought in the Canal’s 120-year history.
