NLNG To Flood Markets With Cooking Gas

NLNG To Flood Markets With Cooking Gas
January 28 00:58 2017 Print This Article

The Nigeria Liquefied Natural Gas Limited has assured the public that it will make available 13,000 metric tonnes of cooking gas.

The Manager, External Relations of NLNG, Tony Okenedo, told newsmen in Lagos on Friday that apart from this, additional 13,000 metric tonnes of the product would be released to the market immediately.

He explained that the company would continue to ensure adequate supply and price stability of the product.

Okenedo said: “NLNG’s LPG vessel successfully discharged 13,000 metric tonnes of gas to Lagos jetty on January 15.

“Another 13,000 metric tonnes is expected to be discharged any moment from now.

“The vessel has gone to load gas at NLNG’s facility in Bonny and it had returned to Lagos to discharge.

“It is awaiting other vessels that are discharging petroleum products to finish before it can discharge its cargo.”

Okonedo said that the NLNG was alleviating the impact of price variations, insisting that the company would continue to work with stakeholders to stabilise gas price.

He said: “We are also engaged with other public and private stakeholders along the domestic market value chain to stimulate price stability and growth.

“NLNG remains fully committed to the goals of ensuring gas supply.”

However, Bassey Essien, the Executive Secretary, Nigerian Association of LPG Marketers, told NAN that the price of cooking gas was still on the high side.

Essien said that NAV Gas Company was selling 20 metric tonnes of gas for about N5.5 million as against N3.5 million in November 2016.

Essien said: “The practice of pricing LPG according to international price index remains a setback for the sector and if not addressed, it will erode the gains already recorded in deepening the usage of gas.

“On the other hand, the weak exchange rate of the naira against the dollar has increased the price of gas.”

 

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