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Sep 3, 2019

The Idea to Build an LPG Depot in Big Creek

Dr. Gilbert Canton

According to Canton, a complete study of the cost of acquisition of liquid petroleum gases from the U.S. Gulf Coast was subsequently conducted and through that exercise, they realized that by trucking L.P.G. overland from Guatemala, prices would be affected.

 

Dr. Gilbert Canton, Managing Director, NGLC

“So we started mapping the index price of LPG which is, you know, what is called a Mont Belvieu Price established in the States, and then we started mapping also the retail price and seeing how that trended and it was a trend with a pretty steady margin between the price on the Mont Belvieu and the retail price.  We looked at the margin and we said, “This is a very large margin.  Can this margin help us in rectifying the situation because from an energy security perspective, you know, if we have large demands, if the country had grown in its LPG demand, we’re up to almost twelve million gallons or around twelve million gallons per year and this demand is solely supplied by trucks crossing the border on a daily basis, there’s very little storage capacity in the country.  If those trucks stop for whatever reason, the country could go into a crisis, so there’s an energy security issue there.  Again the control of the quality, the pricing, all those different things.  So we said, can this margin help by putting in a large storage facility which will allow the ships, instead of bypassing Belize, would actually be able to stop and deposit and the smallest ship that could carry those is what you call a five thousand cubic meter ship, carrying about one point three million gallons of LPG.  So we said, let’s look and see if we could put a facility in that it could take a shipload.  Big Creek Port was dredging out and had plans to dredge out their channel to come so they could bring a bigger ship in.  So all these things were coming together to make it make a lot of sense.”


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