Higher prices to slow LPG consumption growth
Higher prices to slow LPG consumption growth
The growth of liquefied petroleum gas (LPG) consumption is predicted to slow down as LPG prices have tended to increase this year, according to the Viet Nam Gas Association (VGA).
The VGA said on September 27 that LPG consumption this year could rise by 5-6 per cent from 2017 to 2.05-2.07 million tonnes.
The domestic LPG is currently provided by the PetroVietnam Gas JSC’s gas processing plant in the southernmost province of Ca Mau and the Dung Quat oil refinery of the Binh Son Refining and Petrochemical JSC in the central province of Quang Ngai.
The two firms produce 828,000 tonnes of LPG, meeting around 45 per cent of the market demand. The remaining 55 per cent is imported from other countries.
Nguyen Hai Long, head of the VGA’s southern branch, said that illegal gas extraction, changing LPG containers and counterfeit labels are still rampant in the market.
The fight against such fraudulent activities has been enhanced this year, focusing on illegal gas extraction facilities, especially in Binh Duong, Dong Nai and Long An provinces.
He added that the VGA has co-ordinated with authorised agencies to boost communication to raise public awareness of gas safety. Its southern branch will press on with fighting trade fraud regarding LPG.
