Sri Lanka’s LAUGFS Holdings Hopes to Resume LPG Imports from Iran

Sri Lanka’s LAUGFS Holdings Ltd plans to resume import of LPG from Iran, company’s Managing Director W.K.H. Wegapitiya was quoted by Shana as saying.

Wegapitiya spoke to the Iranian news agency on the sidelines of a meeting between Minister of Petroleum Bijan Zangeneh and Sri Lankan Minister of Petroleum Resources Development Chandima Weerakkody in Tehran on Sunday.

LAUGFS Holdings used to import LPG cargoes from Iran prior to the sanctions but had to hold its purchases and rely on countries like Malaysia and Oman.

"We hope Iran will set the ground for enhancing large LPG volumes by facilitating international banking transactions," Wegapitiya said, adding that besides 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, LAUGFS imported 10,000 tonne of LPG from Iran, Shana reported.

Meanwhile Sri Lankan Minister of Petroleum Resources Development said he hopes that Colombo will resume oil and gas purchases from Iran.