Nigeria LPG industry performance – April 2021
According to PPPRA, the LPG industry lifted a total volume of 113,108.22MT during the month of April 2021- A 48% increase Year-on-Year and a 30% increase from March this year. Volumes are inclusive of Propane from NPDC. ( source PPPRA). Again PPPRA is yet to capture LPG figures from Kwale Hydrocarbon who are doing significant Butane and Propane volumes. See how the players performed below.
Nigeria LPG seaborne supply by source.
Nigeria LPG volumes by month – April 2021
Other exclusions include Greenville Rumuji and PNG Umutu propane figures
LPG sources in Nigeria.
LPG sourcing improved during the month with the majority of the supplies (65%) from Import.
NLNG was responsible for about 30% of the supply volumes with just 34,475MT, an improvement on March figures. Other local sources came from Greenville, PNG, and NPDC.
Prices of LPG at the depots reduced against March , trending towards 5.6 Million per 20 MT at the end of the month. Mont Belvieu prices started to drop well below 400USD during the month but returned by the end of the month.
Nigeria LPG sources – April 2021
Market Leaders in the Nigeria LPG market.
This time around it was NIPCO who stayed at the top with 33% of the market. Stockgap for the first time occupied the second position with 22%. Algasco has an unusual 12% of the market. 11plc ( formerly Mobil ) joined the market and had 2% of the market.
Nigeria LPG marketers performance for April 2021
How the LPG Depot fared in April 2021
Again, NIPCO dominated the LPG Storage during the month of April with 26%, while Stockgap maintained the 2nd position with 22% .
We expect more improvement in the reporting on the performance of LPG players to capture the market growth more accurately. Kwale Hydrocarbon LPG figures would have significantly changed the look of this report. We hope to be able to capture their performance soon.
LPG prices have returned to the year’s high locally and nearing the year’s high internationally in the month of June which is unusual going by historical trend.
See you soon as we return with the month of May LPG industry performance report.