Background Image

Condensate Forecast to 2030

FGE's detailed assessment of the mid/long-term outlook for condensates. 

Download Brochure &
Request a Trial

Brochure PDF

Request a Trial

Contact Us

If you require additional information on this or any FGE service, or you would like to discuss ways in which FGE can assist you further, please contact a member of our sales team.

Contact Sales



FGE’s detailed assessment of the mid/long-term outlook for condensates provides comprehensive coverage on the key challenges facing the market today. In this study, we forecast condensate supply and demand globally using bottom-up modelling to explore impacts and trends for condensate trade and pricing up to 2030.

The year 2018 was a tumultuous time for the global condensate market. Not just in terms of the US Treasury and State Department putting Iranian condensate supply firmly in their crosshairs, but particularly with the ongoing structural shift in supply, which is forcing condensate buyers, particularly those in East Asia, into a structural rethink of their feedstock procurement strategies.

Could the end of the gas moratorium in Qatar provide a respite for sour grades? Qatar Petroleum has since committed to four new liquefaction mega-trains as part of the North Field expansion (NFE) project. However, will this be enough to offset the loss in Iran volumes, and will it come in time to do so?

The US is clearly in focus now as the incremental supplier. We have already seen an increase in US extra-light crude/ condensate volumes making the long journey eastwards. In 2017 we saw just 2.5 mmb heading eastwards; in 2018 we saw another 12 mmb of arbitrage and test cargoes moving east. Already in 1H 2019 we have seen some 20 mmb of US-origin condensate and extra-light crude headed into Asia. On top of this, we are finally seeing the widely anticipated emergence of a new West Texas Light grade from the Permian Basin, offering a window into future US supply.

However quality and consistency issues remain for US grades with splitters struggling to deal with the residual component of EF grades as well as other contaminants.

And what about naphtha? Previously flexible splitters turned to heavy full range naphtha. A collapse in naphtha prices in 4Q 2019 has made this an attractive proposition. Is this something structural or just a blip on the radar?

Asian buyers find themselves in a quandary, and the IMO’s potential impact on crude/condensate doesn’t help matters. Do they continue to look to future supplies from the Middle East or do they look for alternative sources? Importantly, does this mean facing additional capital costs to make their splitters “future-proof” for the 2020s and ready for the future condensate supply landscape?

Key Areas Addressed in this Study

  • Global demand and supply projections until 2030
  • Condensate market dynamics
  • Condensate slate changes
  • Condensate trade flows into Asia
  • US and West of Suez condensate outlook
  • US condensate outlook
  • US and West of Suez condensate outlook
  • Dynamics between crude, condensate, and naphtha
  • Scenario analysis of the key events and structural changes impacting global condensate markets

Scope of Coverage

  • Structure
    • Introduction
    • Global Naphtha Trends
    • East of Suez Supply
    • East of Suez Demand
    • North American Condensate Outlook
    • Atlantic Basin Condensate Outlook
    • Condensate Trade & Pricing, 2013-2030
    • Scenario Planning
    • Appendix
  • Deliverables
    • PDF copy of the report (PowerPoint layout)
    • Presentation can be arranged under terms to be mutually agreed.
    • Supporting Excel data file

This Study will Add Value to

  • Oil Majors and Oil & Gas Companies Seeking an outside perspective on the likely future economic environment of the international condensate trading market.
  • Shipowners Conducting analysis of future trade flows and volumes.
  • Other Oil and Service Companies Any company operating in the sector should benefit from an internally consistent and detailed assessment of potential developments in the market as an alternative to reliance on forecasts from government or international organizations.
  • Petrochemical and Chemical Companies Seeking an independent outlook of the international condensate trading market.
  • Trading Houses Identifying emerging underlying shifts in trade flows.

Latest FGE Multi-Client Studies

Bunker Study Mcs
Preparing for IMO 2020 and The Future of Bunkering

FGE's detailed assessment of the impact of the IMO 2020 specification changes on the global shipping & refining industries.

Read More

Stomo Web Small
The Outlook for Oil 2019

FGE’s core analytical block for its perspectives on future developments in oil demand, supply and prices to 2040.

Read More

LPG Forecast 2020

FGE's comprehensive annual assessment of the global LPG market, divided between two geographical areas, East and West of Suez.

Read More

Request Call Back

To request a call back from a member of our sales team, please complete the below form.