World LPG Leader David Tyler Advocates for Industry Growth in Sri Lanka

Mr. David Tyler, Director of the World LPG Association, visited Sri Lanka and discussed global LPG industry trends, emphasizing the need for a unified industry association to foster collaboration. He outlined the versatility of LPG and its applications, along with current pricing trends. LAUGFS Gas expressed its commitment to leveraging its infrastructure and innovation to enhance the local LPG sector.

Recently, LAUGFS Gas had the honor of hosting Mr. David Tyler, the Director of the World LPG Association (WLGA), during his visit to Sri Lanka. His discussions encompassed recent developments in the global LPG industry, market insights, and potential growth avenues for the local sector.

In his keynote address at the LAUGFS Gas headquarters, Mr. Tyler underscored major global trends within the LPG industry, disclosing that “approximately 360 million metric tons of LPG were produced globally last year,” primarily driven by North America and the Middle East. He emphasized that over half of this LPG is consumed in the Asia-Pacific region, which is experiencing an annual growth rate of approximately 3%-4%.

Mr. Tyler pointed out the versatility of LPG, asserting that it is mainly utilized for domestic cooking but serves many other purposes, including power generation, industrial fuel, and transportation. He remarked on the necessity of educating and transitioning nearly 2 billion people worldwide who still depend on traditional fuels like wood and kerosene, particularly in Sri Lanka, where such fuels remain common.

He stressed the need for a unified LPG industry association in Sri Lanka to promote collaboration among stakeholders and advocate for effective policies. “An industry association is essential not only for LPG providers but also for equipment manufacturers, suppliers, and transportation stakeholders,” he stated, highlighting that a cohesive voice is critical for growth and management within the industry.

Regarding global LPG pricing trends, Mr. Tyler noted that current market prices range from $650-$700 per metric ton, based on the Saudi Aramco index, and are expected to remain stable in the coming years. He dispelled myths surrounding LPG, confirming that it is a cost-effective, efficient, and environmentally friendly alternative to traditional fuels.

The LAUGFS Holdings Group Chairman also addressed the gathering, stating that LAUGFS Gas is dedicated to leveraging its assets for national advantage. He highlighted the strategic importance of their LPG terminal in Hambantota, with a capacity of 30,000 metric tons, noting that LAUGFS Gas aims to adopt innovative approaches to drive industry growth.

The session concluded on an optimistic note, focusing on market stability and the vast opportunities available globally, irrespective of international trade fluctuations. LAUGFS Gas is committed to fostering industry growth, innovation, and sustainability, in alignment with global LPG trends and opportunities.

The visit of Mr. David Tyler to Sri Lanka highlighted crucial advancements and potential in the LPG sector. His discussions emphasized the necessity for a cohesive industry association, the versatility and sustainability of LPG, and the stability of global pricing trends. Furthermore, LAUGFS Gas’s strategic initiatives are positioning it as a pioneer in driving the local LPG industry forward, with significant opportunities on the horizon.

Original Source: bizenglish.adaderana.lk