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Gas Market Report: 30 July 2009

LPG MARKETS: NORTH WEST EUROPE: Large cargoes: As we move into the buying period for mid August large propane cargoes we are seeing more availability to meet this demand than we have previously seen. This combined with yet another import into the area from the USG, a second one for the same petchem company and imports into the area from Algeria then it is no wonder prices are under pressure. Propane numbers have fallen, aided by crudes drop, into the 480s with August numbers talked slightly higher and still holding a premium against September paper values.

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