LAUGFS Gas PLC
looks forward to operating its spanking new Hambantota Terminal with three of
its companies going public and commissioning a hydro and two solar power plants
this year. The company set up an LPG storage complex in Hambantota Port with a
capacity of 30,000 metric tons at the cost of US$ 80 million and expected the
first gas shipment last December.
The company is
moving towards the development of an integrated regional LPG Terminal for the import,
re-export and distribution of LPG to Indian Ocean Rim retailers. "We've
just contracted Hambantota Terminal, and the revenue it will produce will have
a foremost impact on this country's planned export goal," said W.H.K.
Wegapitiya, Chairman, LAUGFS Gas PLC in an interview.
LAUGFS Gas
(Bangladesh) Ltd has entered Bangladesh in 2001 and is a major supplier of LPG
in Bangladesh, importing and supplying more than 50,000 metric tons (MT) of LPG
each year. LAUGFS Gas is already using Hambantota with LPG downstream in
Bangladesh to become the country's favoured supplier of LPG, Mr Wegapitiya
noted. It had 26% market stake in Bangladesh when LAUGFS Gas began. Mr
Wegapitiya said that while it is growing every day, it must now be below 50%.
The firm also
plans to supply LPG in East Africa to Myanmar and Kenya. "We will provide
in the next two months to Myanmar. Mombasa is a gateway to other Eastern
African landlocked countries in Kenya. We are also exploring the Mombasa
venture. We want to supply in bulk initially, "Mr Wegapitiya said adding
that this will happen after the Hambantota Terminal call for commercial
operations.
The port of
Hambantota has two jetties dedicated to the coal, gas and oil industry. LAUGFS
' storage facility situated 3 km from the dock of the pipeline. LAUGFS
Hambantota plant can obtain and store refrigerated propane and butane
separately or in a mixed form via large gas carriers and pressure vessels. The
company expects capacity expanded to 45,000 MT. The company currently owns
three LNG ships and plans to increase the number of ships in the short term to
10 – both owned and chartered.
This year at
Ginigathhena, LAUGFS Gas will set up a 2 megawatt (MW) hydropower plant. They
have a 3MW hydro plant now. Mr Wegapitiya said a 2 MW solar power plant would
be commissioned this year in Ambilipitiya and a 10 MW solar power plant in
Hambantota in addition to the 20 MW solar power plant they have.
Three LAUGFS
companies are going to go public this year. Mr Wegapitiya said that this year
LAUGFS Leisure, LAUGFS Power and LAUGFS Eco Sri would be on the Colombo Stock
Exchange. "We are now in the development of listing all three corporations
and waiting for governing approval, which will happen soon," added Mr
Wegapitiya. He noted that going public was the result of last year's structural
change aimed at a long-term strategy.
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