India’s BPCL, Confidence Petroleum among 8 bidders for Sri Lanka’s LPG terminal

Eight bidders have been shortlisted for stake acquisition in Sri Lanka’s LPG terminal & the list includes companies based out of Singapore, Thailand, UAE, Oman & Mauritius
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BPCL (Bharat Petroleum Corporation Ltd)PSU Watch

New Delhi: State-run Bharat Petroleum Corporation Limited (BPCL) and a private sector company with presence in the Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) sectors, Confidence Petroleum India Limited, are the two Indian companies among eight bidders for Sri Lanka’s state-run LPG company and terminal. According to a statement issued by Sri Lanka’s Finance Ministry, companies based out of Singapore, Thailand, United Arab Emirates (UAE), Oman and Mauritius have been shortlisted.

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Singapore’s Vitol Asia, Thailand’s Siamgas and Petrochemicals Public Company Limited, Mauritius-based Infinity Holdings Sidecar 1 and Oman’s National Gas Company Saog are among those shortlisted. From UAE, three companies have been shortlisted — Bgn Int Dmcc And Bayegan Dis Ticaret AS, OQ Trading Limited and Tristar Transport LLC.

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Bidders will submit proposals for acquisition of shares in Sri Lanka’s LPG terminal

The eight bidders can now submit proposals to the Sri Lankan government for the acquisition of shares in Litro Gas Lanka Limited and Litro Terminals (Private) Limited, said the statement. Litro holds the lion’s share in Sri Lanka’s LPG market, which is mostly a duopoly focussed on domestic gas supplies. The island nation is looking to reduce losses of government-owned enterprises under a USD 2.9-billion International Monetary Fund (IMF) programme.

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