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Growing demand for LPG continues to adversely affect the supply of the product on the market.Even though the Tema Oil Refinery produces LPG, this is not enough to meet the demand.That’s coming from the Association of Oil Marketing Companies which says dealers have as a result had to import almost 80 percent of the market-demand of product.So to what extent this could be linked to the partial shortages experienced in recent times and what measures in place to improve the situation.
The Industrial Coordinator for the association, Kwaku Agyemang Duah explained to JOY BUSINESS.““TOR can give us 1250 tonnes per week. Compared to a demand of 5000, obviously you need to import to make up. The good thing is that LPG is always around the shores of this belt and with the competition intensifying now, if you don’t bring it you loose your market” he notedThe lack of adequate storage facilities is also another major constraint and Fuel-Trade, one of the major players in the oil industry is working to establish a 6000 metric tonnes storage facility. Mr Agyemang Duah says the facility expected to be ready for use by November should provide a big boost for their industry.““For instance, if we have 20,000, average consumption which we know is increasing and we can safely store even half of that then it gives room for us to maneuver with the vessel schedules. But what will be so exciting is that the competition in the deregulation is going to bring this to the fore. Now its like a whole lot of infrastructure are being deregulated and it gives room for the private investors to come in and help us address this kind of challenge” he concluded.
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