SUBSCRIBER NOTE: Platts proposes to end Middle East M2 LPG differentials

In response to changing market conditions, Platts proposes to discontinue its assessments of physical market premiums for refrigerated propane and butane cargoes loading in the Middle East LPG market in the second month ahead with effect from June 1, 2014. Platts will continue to assess spot premiums for the month ahead, and the spot market, which is 20-40 days ahead. All premiums reflect the spot value of refrigerated LPG cargoes versus the Saudi Aramco Contract Price that prevails for the loading period. Platts has been assessing second-month propane and butane cash differentials since December 2002. Since that time, spot market activity revolving around the second month forward has dipped, and trading in far-forward cargoes is no longer typical in the Persian Gulf. These assessments are currently published on Platts Global Alert, LP Gaswire and in the Platts price assessment database under symbols AALAM00 (refrigerated propane M2 cash differential) and AALAN00 (refrigerated butane M2 cash differential). Please send any comments and questions by March 30, 2014 to asia_products@platts.com and pricegroup@platts.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received, and will make comments not marked as confidential available upon request.