Mr. David Tyler, Director of the World LPG Association, visited Sri Lanka to discuss global LPG industry trends and local growth opportunities at LAUGFS Gas. His address highlighted the importance of education in LPG usage, the establishment of a unified industry association, current pricing trends, and LAUGFS Gas’s commitment to innovation and national benefit.
Recently, Mr. David Tyler, Director of the World LPG Association (WLGA), visited Sri Lanka as a guest of LAUGFS Gas. His discussions focused on global developments within the LPG industry, analyzing market trends and opportunities for growth in the local sector.
During his keynote address at LAUGFS Gas headquarters, Mr. Tyler emphasized the notable trends in the global LPG industry, stating that approximately 360 million metric tons of LPG were produced globally last year. North America leads in production, followed closely by the Middle East, with the Asia-Pacific region accounting for over half of the consumption, growing at an annual rate of 3%-4%.
Highlighting LPG’s versatility, Mr. Tyler explained, “LPG remains primarily used for domestic cooking, yet it has numerous additional applications including power generation, industrial fuel, and transportation.” He advocated the need for education and transition for nearly 2 billion individuals still reliant on traditional fuels, particularly in Sri Lanka where such fuels are widely used.
Mr. Tyler discussed the necessity of forming a unified LPG industry association in Sri Lanka, which would enhance stakeholder collaboration and advocate for policies beneficial to the sector. He noted, “An industry association is essential not only for LPG providers but also for equipment manufacturers, suppliers, and transportation stakeholders. A unified voice is vital for growth and effective industry management.”
Addressing the topic of global pricing trends, he informed the audience that LPG market prices, pegged to the Saudi Aramco index, range between $650 and $700 per metric ton, expected to remain stable in the ensuing years. He reassured the audience by stating, “Despite misconceptions, LPG remains cost-effective, efficient, and environmentally friendly compared to traditional fuels.”
The Chairman of LAUGFS Holdings Group remarked on the company’s commitment as the leading infrastructure investor in Sri Lanka’s LPG sector. He stated that the LPG terminal in Hambantota, with a capacity of 30,000 metric tons, is a significant asset that will be utilized to benefit the national sector by promoting innovation and growth.
The session concluded optimistically, recognizing the available market opportunities and the need for stability amidst changing international trade dynamics. LAUGFS Gas is dedicated to fostering industry growth, ensuring innovation, and aligning with global LPG trends for sustainable development.
In summary, Mr. David Tyler’s visit to Sri Lanka underscores the potential for growth within the LPG sector. His insights on global trends and local opportunities highlight the need for industry collaboration and innovation. The establishment of a unified industry association is crucial for addressing the challenges and maximizing the benefits of LPG in Sri Lanka, presenting a future focused on sustainability and efficiency.
Original Source: bizenglish.adaderana.lk
