OQ Trading, Siam Gas compete for LPG contract
View(s):Litro Gas Lanka Ltd has successfully tackled the LPG crisis restoring supplies while reducing prices after streamlining the management, and expediting shipments to meet the demand for the next three months and beyond, company sources revealed.
It has awarded a short-term LPG contract for 100,000 metric tonnes and received the quantity of 33,000 MTs consistently since July this year effectively easing the shortage in the market through a proper distribution system of LP gas cylinders, a top official of the company said.
Litro Gas has now floated a term contract of 280,000 MTs for one year (2022-2023) and the tender evaluation process is underway with the securing of bank credit lines to service the contract, he added.
Current supplier OQ Trading of UAE and earlier eliminated bidder Siam Gas of Singapore (in the previous controversial LP Gas Tender for 280,000 MTs cancelled by Litro Gas Lanka on July 24 2022) are in the contest once again to gain the contract from the fresh tender.
This was revealed at the bid opening of the new tender called to procure 280,000 MTs of LP Gas on Monday. They were the only two bidders.
The move to increase supplies is based on a directive of the Parliamentary Committee on Public Enterprises (COPE) to procure LPG for the period of 2022- 2023.
COPE has recommended that an investigation be conducted by the Auditor General’s Department on the cancellation of the earlier term tender, which had been approved by the Cabinet to purchase LP gas from Siam Gas at US$ 96 per MT but opting to buy 100,000 MT of gas at a cost of $129 per MT from OQ Trading.
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