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Russia to ramp up seaborne LPG exports in Feb at expense of railway -sources

MOSCOW (Reuters) - Russia plans to boost seaborne exports of liquefied petroleum gas (LPG) in February by 62.5% from January to 234,100 tonnes as the shipments command a higher profit than those moved by rail, data from two industry sources showed on Wednesday.

According to traders, export shipments of LPG, or propane-butane, from Russia's Black Sea ports of Taman and Temryuk and the Baltic Sea port of Ust-Luga are more profitable than direct rail exports to Poland as LPG prices rise in northwest Europe and the Mediterranean.

At the same time, prices on the Belarus-Poland border at the city of Brest have fallen sharply, to their lowest level since the summer of 2021.

"Now the price of propane-butane at Brest is about $400 per tonne, while in the ARA region (Amsterdam-Rotterdam-Antwerp) and the Mediterranean it is at least $150 per tonne higher," one of the sources said.

Russian LPG supplies to Ust-Luga will rise to 156,400 tonnes in February from 90,400 tonnes in January, and at Temryuk to 22,000 tonnes from 15,300 tonnes, according to the data.

LPG will not be banned under a looming European Union Russian oil product embargo, which comes into force on Feb. 5.

Russia's LPG exports via land borders will drop by 21.6% to 343,700 tonnes next month, according to the data.

Russia has increased its LPG exports in recent months as it can make a higer profit than on domestic sales.

(Reporting by Reuters; Editing by Kirsten Donovan)