The Nigeria Liquefied Natural Gas (NLNG) delivered three cargoes of Liquefied Petroleum Gas (LPG) to the local market in the month to moderate prices and ensure regular supplies during the period.
Its General Manager, External Relations and Sustainable Development, Mr Andy Odeh, disclosed this on Friday in Lagos.
Odeh said that that the delivery would contribute to ensuring a stable supply of LPG to meet the market demand effectively.
According to him, NLNG has taken measures to ensure that the market remains well-supplied during the December holiday period.
Odeh said that one of the factors that had influenced the decline in LPG prices was the news of the removal of Value Added Tax (VAT) on imports.
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He also said there had been a moderation in demand due to the holiday season.
He, however, explained that despite these factors, NLNG maintained that it continued to sell LPG based on the West Africa index price, saying,” there is no change in the applicable price index”.
According to him, there is no change to NLNG’s pricing basis, which remains the West Africa index price.
“NLNG remains committed to supplying 100 per cent of its LPG to the domestic market.
“Regular supplies from other sources within Nigeria and also from imports will help in moderating prices,” he added.