LAUGFS Gas and Lanka Indian Oil Company to reshape Sri Lanka’s energy sector
Ada Derana: LAUGFS Gas PLC, a leading energy solutions provider, and Lanka Indian Oil Company (IOC), a prominent petroleum company forged a strategic partnership. This collaboration marks a pivotal moment in the industry as these two giants unite to drive innovation, enhance operational efficiency, and elevate customer service standards for the local LPG customer base.
The LAUGFS Gas and Lanka IOC partnership envisions a future where extended service hours, available 365 days a year, become the norm, with LAUGFS Gas products readily accessible at all Lanka IOC stations. This partnership will also introduce a range of extended service offerings, further enriching the customer experience. By leveraging their expertise in their respective domains, both companies are committed to setting the standard in the LPG and petroleum product retailing industries.
Speaking with Director/Cluster CEO, LAUGFS Gas PLC – Dr Niroshan J Pieries noted: “We are pleased to partner with Lanka IOC a powerhouse of local petroleum industry as we look to the future as we continue to uphold and push the boundaries of innovation and collaboration in energy. With the coming together of these two titans of the industry, we aim to spark a change for a more efficient, customer-focused future to further satisfaction and ease of purchase.”
Since its entry into the local LPG industry in 2001, LAUGFS Gas has experienced remarkable growth and has become a trusted brand synonymous with quality and consistency. With an extensive network of over 7000 dealers and 31 distributors, LAUGFS Gas is well-positioned to meet the nation’s energy requirements. This nationwide sales and distribution network is further supported by a modern fleet of LPG tankers and state-of-the-art 33000 MT storage and filling facilities in Hambantota and Mabima, both operated with the highest international safety standards.
Commenting on the partnership, Managing Director, Lanka IOC – Dipak Das, stated: “We are pleased to partner with LAUGFS Gas on this exciting venture. Together, we share a vision of a future where convenience knows no bounds. This partnership is not just about offering convenience; it’s about enhancing the overall customer experience. We are committed to introducing a range of extended service offerings that will redefine the way our customers interact with us. By combining our expertise in the LPG and petroleum product retailing industries, we aim to set a new standard, one that puts the customer at the forefront of everything we do”
The LAUGFS Gas and Lanka IOC partnership represents a strategic alignment of industry leaders dedicated to shaping a brighter, more efficient future for Sri Lanka’s energy landscape. Together, they will propel the nation towards a more sustainable and customer-centric energy future.
OSL take:
Sri Lanka’s expanding power and energy sector in line with the ongoing economic activities as well as the target of becoming an emerging business destination in the South Asian region have opened up many new business/investment opportunities. Sri Lanka’s decision to open the retail energy business to foreign players has created new business opportunities with more new opportunities in the making. The foreign businesses engaged in the energy sector have posted growth and profits indicating the growing business potential in Sri Lanka’s energy sector. Foreign businesses/investors could explore the growing opportunities in Sri Lanka’s energy sector as well as in the development of supplementary infrastructure facilities required by the industry in line with the ongoing economic activities.
| Article Code : | VBS/AT/20230921/Z_4 |