KPC Announces LNG Prices for March

Source: KUNA 3/4/2012, Location: Middle East

The Kuwait Petroleum Corporation (KPC) announced the Liquefied Natural Gas (LNG) prices - propane and butane - for March. KPC said in a statement that the propane will be sold for USD 1,230 per metric ton in the current month, an increase of USD 220 compared to February's USD 1,010 per metric ton.

The butane will be sold at USD 1,180 per metric ton during March, with a rise of USD 140 compared to USD 1,040 per metric ton in February. The prices of propane and butane are affected by fluctuations of international oil prices and the rising and dropping of the US dollar compared to main currencies.

The hike in gas prices is also due to the escalation of political tension in the Middle East and North Africa, which caused fear of gas supplies shortage from these regions to the rest of the world. The winter season, as usual, played a vital part in increasing gas prices. The propane and butane are of multi-purposes, as they are used in cooking, heating and production of petrochemical substances.


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