Jul 31, 2021

Laugfs Gas closes it's operation

Laugfs Gas has closed down it's operation, srilankamirror reliably understands.

Owing to huge losses suffered by the company, specially in the wake of the rising gas prices in the international market, the management of the Laugfs Gas has decided to close down the company.

At the time of the closure, the company was catering to nearly 30 per cent of the gas market while the state-owned Litor Gas owns 70 per cent of the market share.

However, Laugfs Gas was mainly providing the gas required for industries.