Sri Lanka’s LAUGFS to resume LPG purchases from Iran


July 25, 2016 (LBO) – Sri Lanka’s listed LAUGFS Holdings says the company is planning to resume import of liquefied petroleum gas (LPG) from Iran.

Speaking to Iran’s petroenergy information network on the sidelines of a Ministerial meeting between two countries oil Ministers, LAUGFS Managing Director W.K.H. Wegapitiya has expressed satisfaction over the removal of economic and banking sanctions on Tehran.

“Besides resuming our purchases, we are seeking to boost our imports from Iran,” Wegapitiya said.

“We hope Iran will set the ground for enhancing large LPG volumes by facilitating international banking transactions.”

Wegapitiya further said that in addition augmenting the volume of previous deals with Iran, his company is bracing to sign new deals for LPG purchases.

Before the sanctions were imposed on Iran in 2012, LAUGFS imported 10,000 tons of LPG from Iran, Iran’s petroenergy information network said.

Sri Lanka used to import LPG cargoes from Iran prior to the sanctions but had to hold its purchases off under the sanctions and supply its needs from countries like Malaysia and Oman.