LPG Contract Price $70/Ton Drop

- CP for February, Propane $800, Butane $805

LPG importing price which has sharply risen is expected to be stabilized in February.

Saudi Arabia’s Aramco informed E1 and SK Gas that February exporting price will be changed to $800/Ton for propane and $805/Ton for Butane. This price is $70/Ton low than January.

The reason why LPG importing price of February has declined largely is because oil price has been stabilized between mid-$80 and early-$90. At the situation that oil price doesn’t rebound, it is know that overseas buyers also does not hurry to buy LPG

Though recent currency which recorded \945/$ is on the upward tendency is unstable element, it is expected that local LPG price for March decreased by \70/Kg because of the reduction of importing price.

(Many thanks)

This article is from “The Korea Gas News”(Jan. 31, 2008)