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Gas Market Report: 28 May 2009

LPG MARKETS: NORTH WEST EUROPE: Large Cargoes: The expected drop on prices has not materialised as we move into 1st half June trading on the large propane cargoes. The market has seen prices reach the high $410s as buyers endeavour to cover shorts. Any first half June cargoes have all been taken, mainly by the petchems and next availabilities are not expected until the 15-20 June period. Even these cargoes are expected to be placed sooner rather than later as petchem interest remains strong. Several exports are expected out of the area but these are being matched by imports from Algeria and possibly even West African origin cargoes during the last decade.





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