Higher prices to slow down LPG consumption growth

16:18 | 12/10/2018 Industry

The growth of liquefied petroleum gas (LPG) consumption is forecast to slow down as LPG prices have tended to increase in 2018, according to the Vietnam Gas Association (VGA).

Dung Quat oil refinery in Quang Ngai province - Photo: VNA

The VGA said on September 27 that LPG consumption this year could rise by 5-6 percent from 2017 to 2.05-2.07 million tonnes.

The domestic LPG is currently provided by the PetroVietnam Gas JSC gas processing plant in the southernmost province of Ca Mau, as well as 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 percent of the market demand. The remaining 55 percent is imported from other countries.

Nguyen Hai Long, head of the VGA’s southern branch, said that illegal gas extraction, changing LPG containers, and counterfeiting labels are still rampant in the market.

The fight against such fraudulent activities has been enhanced in 2018, focusing on illegal gas extraction facilities, especially in Binh Duong, Dong Nai, and Long An provinces.

He added that the VGA has coordinated with authorised agencies to boost communications to raise public awareness of gas safety. Its southern branch will press on with fighting trade frauds regarding LPG in the time ahead.

Theo VNA