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Home » Economy » Bowen and Bowen says prices lower costs can lead to lower prices in butane
Sep 2, 2019

Bowen and Bowen says prices lower costs can lead to lower prices in butane

Last Friday, the Senate passed a bill paving the way for the new National Gas Company which is made up of a partnership between the government and a group of Belizean businesses. There is ongoing debate and a lot of questions about the new company which is to succeed the Mexican group in supplying butane to consumers all over the country. The model creates a monopoly; the National Gas Company is getting a fifteen-year license.  Today, the Bowen and Bowen Group sent out a release confirming it has a six percent ownership stake. As it relates to the important issue of prices, Bowen and Bowen states that N.G.C.L. will sell L.P.G. to distributors at a lower wholesale price when compared to current prices, via what it calls an apples to apples comparison. If the savings are passed on, it should represent lower prices to consumers. But if lower prices do not  come to be,  Bowen and Bowen is undertaking to donate the returns from its share to a charitable foundation committed to education.  The company explains that the L.P.G. purchased in Belize comes from the U.S. Gulf Coast and is delivered to foreign ports, bypassing Belize. It is then trucked to Belize in small quantities at great expense.  This will change according to B and B through an open tender, the L.P.G. will be delivered directly to the Big Creek Port, eliminating expensive trucking. It will also build up a large domestic supply so that direct delivery will reduce costs and increase the security of supply.

Other investors are:  M & M Limited, Gilly Canton, G.A. Roe and Sons Limited and BEDCO Limited from Cayo. A U.S. based company B.W.T.A. is also the majority shareholder.

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