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Gas Market Report: 15 January 2009

NORTH WEST EUROPE: Large cargoes: Demand for large propane cargoes is still healthy as buyers continue to cover terminal requirements after the recent cold spell. Buyers seeking cargoes have had to bid in the $480s against limited selling interest. One buyer was taken out for 20 kts at 490 and balance Jan+1 which equated at the time to 480. Other buying interest is still evident and numbers above yesterdays may have to be paid. However, as these positions are filled then expectations are that numbers will start to decline in the absence of more cold weather in NWE.

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