Aramco halts LPG shipments after Juaymah damage

Saudi Aramco will reportedly pause shipments of liquefied petroleum gas (LPG) for May after damage to the Juaymah facility in eastern Saudi Arabia.

Exports have been halted since a support structure collapsed at the site before the US-Israeli war with Iran started in February, Bloomberg reported.

The conflict later led to the near-closure of the main export route through the Strait of Hormuz, causing shortages in Asia, particularly in India.

Aramco informed some buyers that required repairs at the Juaymah site have not been carried out, the news agency reported, quoting unidentified sources. 

The main LPG processing and shipment facilities at Juaymah are located near the Jafurah gas field and Ras Tanura refinery. The facility has also been hit during the conflict, but the extent of the damage is unknown. 

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Aramco’s Juaymah facility accounts for 3.5 percent of total waterborne LPG exports for the global market, according to Kpler, a data and analytics company.

Markets underestimate the global economic impact of the war with Iran and how long it will take for oil, gas and other commodities to resume flowing once hostilities end, Mohammed Aljadaan, the Saudi finance minister said earlier this month.

Aramco’s share price of SAR27.2 has gone up 17 percent in the year to date.