Sri Lanka facing gas shortage as stocks run low
Source: Xinhua | 2022-03-04 | Editor:Ines
Sri Lanka's two gas companies, LAUGFS and Litro Gas on Thursday announced that they would not be able to import any more liquefied petroleum gas as banks were not letting them open letters of credit (LCs) in U.S. dollars.
The two companies warned that this would lead to a gas shortage in the South Asian country.
Chairman of LAUGFS Holdings Ltd, W.K.H. Wegapitiya said the banks were not opening LCs because of the U.S. dollar shortage currently, warning that the country's existing gas stocks would probably run out by the weekend.
Retailers across the country have already said that they were running out of gas.
Meanwhile, the island nation was suffering fuel shortages and power outages as diesel power plants stopped operating.
The country has seen 7.5-hour scheduled power cuts from Wednesday as President Gotabaya Rajapaksa has pledged adequate diesel supply to power plants in a bid to ensure uninterrupted electricity power from Saturday.
Sri Lanka experienced its last gas shortage at the end of 2021.
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