World LPG Leader David Tyler’s Insights on Industry Growth in Sri Lanka

Mr. David Tyler, Director of the WLGA, visited Sri Lanka to discuss global LPG industry developments and local growth opportunities with LAUGFS Gas. He emphasized trends in production, pricing stability, and the importance of transitioning from traditional fuels. The establishment of a unified LPG industry association was advocated to foster collaboration among stakeholders. LAUGFS Gas confirmed its commitment to growth and innovation in the LPG sector.

LAUGFS Gas recently had the privilege of hosting Mr. David Tyler, Director of the World LPG Association (WLGA), during his visit to Sri Lanka. His discussions focused on the latest developments in the global LPG industry, valuable market insights, and potential avenues for growth within the local sector.

During his keynote address at LAUGFS Gas headquarters, Mr. Tyler emphasized critical trends in the global LPG market. He pointed out that approximately 360 million metric tons of LPG were produced last year, with North America leading production, followed closely by the Middle East. Notably, the Asia-Pacific region accounts for over half of LPG consumption, exhibiting an annual market growth rate of 3% to 4%.

Mr. Tyler extolled the versatility of LPG, stating, “LPG remains primarily used for domestic cooking, yet it has numerous additional applications including power generation, industrial fuel, and transportation.” He underscored the necessity of transitioning nearly 2 billion individuals who still depend on traditional fuels, especially in Sri Lanka, where such fuels remain prevalent.

He advocated for the formation of a unified LPG industry association in Sri Lanka, underlining its role in fostering collaboration among stakeholders and promoting effective policy advocacy. He remarked, “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.”

On the subject of global LPG pricing, Mr. Tyler noted that current prices, aligned with the Saudi Aramco index, fluctuate between $650 and $700 per metric ton and are expected to stabilize in the upcoming years. Contrary to popular belief, he asserted that LPG remains a cost-effective, efficient, and eco-friendly alternative to traditional fuels.

The LAUGFS Holdings Group Chairman expressed the company’s commitment to enhancing Sri Lanka’s LPG industry, stating, “LAUGFS Gas, as the largest infrastructure investor in Sri Lanka’s LPG industry, is fully committed to optimizing its assets for national benefit.” He highlighted the strategic advantage of their LPG terminal in Hambantota and affirmed that LAUGFS Gas will continue to innovate and expand to drive industry growth.

The session concluded on a positive note, recognizing the stability of the market and the myriad opportunities available globally, even amidst varying international trade dynamics. LAUGFS Gas is dedicated to advancing growth, innovation, and sustainability within the LPG sector, aligning with global trends and opportunities.

Mr. David Tyler’s visit to Sri Lanka underscored significant developments in the global LPG industry, particularly regarding production trends and the importance of transitioning from traditional fuels. His advocacy for a unified industry association highlights the need for collaboration among local stakeholders. Additionally, insights into pricing trends reveal a stable and cost-effective future for LPG. LAUGFS Gas remains steadfast in its commitment to growth and innovation, bolstering Sri Lanka’s position in the global LPG market.

Original Source: bizenglish.adaderana.lk