Gas Alert

Jan. 16 (LBO) — Domestic gas supplier Laugfs says it will consider restricting imports, if global prices cross the US$ 600 mark in February and the government forbids a price increase, a top official said Monday. Jan. 16 (LBO) — Domestic gas supplier Laugfs says it will consider restricting imports, if global prices cross the US$ 600 mark in February and the government forbids a price increase, a top official said Monday.

“We have not yet taken a decision to curtail supplies, but should LPG (Liquefied Petroleum Gas) prices cross US$ 600 a metric tonne in February, we will meet again to decide on what to do,” W K Wegapitiya, Chairman of Laugfs Gas told LBO in an interview.

About 30 percent of Laugfs gas supplies are from the Ceylon Petroleum Corporation (Ceypetco) with the balance imported. Restricting imports and falling back on local supplies is the likely course of action, Wegapitiya said.

“We are confident that we can resolve the issue with the Consumer Affairs Authority before then,” Wegapitiya said.

The company currently buys 50 tonnes of LPG a day from state run oil giant Ceypetco’s Sapugaskanda refinery – the maximum LPG output.

“We currently supply about 4500 tonnes of LPG a month,