31 October 2019 10:49 am
Laugfs Gas PLC, Sri Lanka’s only private sector LPG supplier, yesterday said it has secured adequate LPG supplies for the next four months, after experiencing a shortage due to the drone attack at the Saudi Aramco oil processing facilities in Abqaiq and Khurais, in eastern Saudi Arabia.
“Fuelled by the company’s vast experience and ample resources, including its own three large vessels and terminal facility in Colombo and Hambantota, Laugfs effectively secured the required amount of LPG from Gulf countries as well as other regions to meet the projected demand for the next four months and beyond,” Laugfs Gas said in a statement.
It also said the company has already obtained large haulers from its suppliers to transport cargo of 22,000MT very large gas carriers to its Hambantota terminal.
Laugfs Gas said following the attack on Aramco assets, multinational LPG players in the subcontinent sought to balance the demand for LPG globally, which triggered a slowing down of LPG supply to countries in South Asia.
As a result, Laugfs Gas said it experienced a temporary supply shortage, which lasted from October 21 to 24.
“However, the company succeeded in meeting the demand of its industrial customers while there was a 35 percent drop in the domestic LPG supply front. Excessive demand from consumers in the wake of perceived shortage further aggravated the situation,” the statement said.