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WINTER OUTLOOK FOR THE U.S. PROPANE MARKET presented at DOE NASEO 2005-2006 Winter Fuels Conference October 12, 2005

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WINTER OUTLOOK FOR THE U.S. PROPANE MARKET presented at DOE NASEO 2005-2006 Winter Fuels Conference October 12, 2005

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    1. WINTER OUTLOOK FOR THE U.S. PROPANE MARKET presented at DOE – NASEO 2005-2006 Winter Fuels Conference October 12, 2005

    3. Slide 3

    4. Slide 4 PROPANE DEMAND IS SEASONAL, DOMESTIC SUPPLIES ARE CONSTANT

    5. Slide 5 PROPANE INVENTORIES PROVIDE THE SWING SUPPLY

    6. Slide 6 THE GOOD NEWS – TOTAL U.S. INVENTORIES REMAIN NEAR MID-RANGE

    7. Slide 7

    8. Slide 8 PROPANE HAS MANY USES IN THE U.S.

    9. Slide 9 PROPANE DEMAND IS VERY SEASONAL

    10. Slide 10 ETHYLENE PLANT CONSUMPTION OF PROPANE WAS HIGH…UNTIL RITA

    11. Slide 11 DISTRIBUTORS AND CONSUMERS MAY HAVE DEFERRED PURCHASES

    12. Slide 12 BECAUSE PROPANE PRICES HAVE BEEN HIGH ALL YEAR

    13. Slide 13 THE U.S. HAS BEEN AN ATTRACTIVE MARKET FOR WATERBORNE IMPORTS

    14. Slide 14 LARGE AMOUNTS OF PROPANE ARE BEING IMPORTED FROM MANY SOURCES

    15. Slide 15 PROPANE RECOVERY IS VERY PROFITABLE

    16. Slide 16

    17. Slide 17 MOST WINTERS HAVE BEEN WARM

    18. Slide 18 THE U.S. COULD TEMPORARILY LOSE 90,000 BPD OF PROPANE PRODUCTION

    19. Slide 19 PROPANE STOCKS IN CANADA ARE LOW

    20. Slide 20 PROPANE STOCKS IN EASTERN CANADA ARE EXTREMELY LOW

    21. Slide 21

    22. Slide 22 PROPANE CONSUMPTION VARIES FROM REGION TO REGION

    23. Slide 23 RESIDENTIAL/COMMERCIAL DEMAND IS HIGHEST IN THE MIDWEST

    24. Slide 24 EAST COAST PROPANE STOCKS NEED 1.8 MM BARRELS

    25. Slide 25 WESTERN U.S. STOCKS NEED 800,000 BARRELS

    26. Slide 26 MID-CONTINENT PROPANE STOCKS SHOULD BE ADEQUATE THIS WINTER

    27. Slide 27 U.S. GULF COAST STOCKS CAN SUPPLEMENT THE EAST AND WEST

    28. Slide 28 TOTAL U.S. PROPANE STOCKS SHOULD BE SUFFICIENT FOR THE WINTER

    29. Slide 29

    30. Slide 30

    31. Slide 31 Questions

    32. Slide 32

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