‘Our ship is on the way,’ says Wegapitiya while elaborating on latest plans

September, 19, 2014

A ship capable of transporting liquid petroleum gas (LPG) has been ordered by Laugfs Gas at an investment of USD 6.9 million and the company would take delivery of this ship very soon, Laugfs Group Chairman W.K.H. Wegapitiya told AdaderanaBiz.lk

This ship ordered from Europe is capable of carrying around 7,000 metric tons of gas at a time and it would be utilized in the company’s LPG gas business, he added.

“Sri Lanka has been planned to be made a maritime hub under the Mahinda Chintana manifesto. This is how Laugfs Gas is assisting these policies. We bring LP gas from foreign countries on our own. In the future we may be able to provide such services to other countries in the region as well,” he proudly added further.

Recently, Mr. Wegapitiya had informed the Colombo Stock Exchange that Laugfs Gas PLC has incorporated a fully owned subsidiary under the name Laugfs Maritime Services Private Limited as a Board of Investment (BOI) approved project.

Laugfs Maritime Services Private Limited would own, operate, hire and charter various types and sizes of ships including Liquid Petroleum Gas (LPG) shipping vessels and other types of vessels that can carry various energy products.

He had also stated that a memorandum of understanding has been signed to purchase the LGP shipping vessel ‘Gas Puffer’ at an initial investment of around USD 6.9 million, rename it as ‘Gas Challenger’ and register it under the Sri Lankan flag.

Laugfs Gas is the second largest business entity in Sri Lanka’s LP gas market while the largest is Litro Gas which had earlier been Shell Gas Ltd and later acquired by the government.