Singapore (Platts)--15Jul2005

Energy consulting firm Purvin & Gertz Friday revised down its December 2005
price forecast for LPG, delivered into north Asia on a CFR basis, to $550/mt
after predicting just two days back that the coming winter would see LPG
prices strike an all-time high of $600/mt. 

In a closing forecast at P&G's Asia LPG Seminar on Jul 13, senior principal
Ron Gist said his group believed that LPG was set to hit $600/mt in December
2005 on a delivered basis in North Asia, home to major consuming nations Japan
and South Korea and the region's primary pricing center for LPG. The
prediction was based on expectations of ongoing high crude prices and a
recovery in Japanese demand, Gist said. But on Friday, the company updated its
outlook for Asia LPG prices. "Purvin & Gertz has updated its outlook for LPG
prices this winter and we (now) expect that spot prices for both propane and
butane will peak at about $550/mt in December on a CIF basis," Gist said
Friday.

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