Gas marketers caution consumers against panic buying
Warn Against Unnecessary Storage Of LPG At Homes
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has cautioned Nigerians over panic buying of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas as a result of the force majeure declared by Nigeria Liquefied Natural Gas Limited (NLNG).
Its president, Oladapo Olatunbosun, sounded the note of caution in a statement against the backdrop of the company’s declaration, last Monday.
Olatunbosun stressed that consumers need not panic about a possible scarcity of the product as a result of the force majeure, even though the NLNG had explained that its plant is in operation though at a limited capacity, due to reduced gas supply from some of its upstream gas suppliers, adding, none of its assets on Bonny Island, or in any of its host communities are impacted by the flood.
The NLNG noted that the force majeure is as a consequence of a similar notice by upstream gas suppliers due to the impact of flood in their production facilities.
The President reiterated that “Based on information reaching the Association; NLNG has not shut down its production facility in Bonny as rumoured.
He confirmed that NLNG on Thursday, 20th October 2022 had shipped a cargo of LPG for the domestic market.
He said that the dedicated vessel for shipment of LPG from the NLNG Plant in Bonny, “Alfred Temile”, arrived in Lagos on Thursday to discharge the product. The public should know that the supply of LPG from NLNG has not stopped.
“We should not give opportunity for further price hike due to speculated shortage of the product. We are already in hard times with the Russian/Ukraine war causing upset in the markets and the scarcity,” he advised.
The President said that NLNG has assured the Association that it will keep producing LPG based on the feed gas it receives from its gas suppliers, adding that production was expected to pick up after the flood recedes.
He, however, cautioned middlemen in the value chain not to take advantage of the hysteria in the market as a result of the flood, which has also hampered the distribution of production across the nation.
He called for urgent intervention by critical stakeholders to grow the industry and for more investment to meet demand and crash the price.
It would be recalled that the General Manager, of External Relations and Sustainable Development, NLNG, Andy Odeh, in a statement, urged Nigerians not to rush to fill their gas cylinders as there is enough quantity of LPG to satisfy the market.
Odeh said that the flooding or force majeure declared has no impact on LPG availability.
The NLNG accounts for 40 per cent supply of gas in the domestic market and in recent times have been the sole supplier for the domestic market.
Odeh further explained that the company’s plant was in operation at a limited capacity, due to reduced gas supply from some of its upstream gas suppliers.