TEHRAN, July 24 (Shana) -- LAUGFS Holdings Ltd.'s Managing Director W.K.H. Wegapitiya says his company is planning to resume import of liquefied petroleum gas (LPG) from Iran.

Speaking to Shana on the sidlines of a meeting between Iranian Minister of Petroleum Bijan Zangeneh and Sri Lankan Minister of Petroleum Resources Development Chandima Weerakkody in Tehran on Sunday, Wegapitiya expressed satisfaction over the removal of economic and banking sanctions on Tehran, saying his country used to import LPG cargoes from Iran prior to the sanctions but had to hold its purchases off under the the sanctions and supply its needs from countries like Malaysia and Oman.

"Besides resuming our purchases, we are seeking to boost our imports from Iran," he said.

"We hope Iran will set the ground for enhancing large LPG volumes by facilitating international banking transactions," he said.
Wegapitiya further said that besides augmenting the volume of previous deals with Iran, his company is bracing to sign new deals for LPG purchases.

Before the sanctions were imposed on Iran in 2012, LAUGFS imported 10,000 tons of LPG from Iran.

By SHANA