Barrels find new buyers
US propane exports averaged 2 million barrels a day in the first half of 2026, up 11% from a year earlier. Rising shipments to India and other South Asian buyers helped April reach a daily record of 2.1 million barrels. Exports to China fell 19% over the same six months. More barrels left the country as their destination mix changed.[1]
That distribution explains why losing one large buyer can coexist with growing total exports. Propane comes from gas processing and refining; the US Energy Information Administration (EIA) says rising production has kept US prices lower relative to Asia. For an importer, that spread makes replacing another supplier’s cargo with an American one attractive. Demand provides another explanation alongside cheaper supply: the agency also points to petrochemical consumption and buyers replacing disrupted Middle Eastern shipments.[1]
From terminal to canal
More production at the well does not expand the loading terminal. Enterprise’s expansion at Houston Ship Channel and Nederland, expected to finish during 2026, would add 300,000 barrels a day of capacity. Commissioning and utilisation are separate steps: buyers, vessels and shipments must also come together.[1]
The Panama Canal is the next narrow gate in the chain. EIA says drought limits daily vessel transits and raises canal costs. For a petrochemical plant buying propane through that route, a cheap terminal price meets a transport bill. Commissioning dates, actual export volumes and canal transit conditions together show how much new terminal capacity becomes delivered cargo. Weaker import demand could also reduce utilisation; a larger terminal alone cannot fill a ship.[1]