Meghna to sell LPG of two brands

State-owned petroleum distributor Meghna Petroleum will sell liquefied petroleum gas (LPG) produced by Energypac Power Generation and LAUGFS Gas (Bangladesh).

As per agreements signed recently with the private companies, Meghna will now construct LPG refuelling stations and gas conversion workshops parallel to the sale of petroleum oil through its registered filling stations.

As per the agreement, the company will receive royalties of Tk0.50 against per litre sale of LPG.

An Energypac official said, "It has initially selected 100 filling stations of Meghna Petroleum across the country to sell our LPG under the brand name G-Gas."

Energypac started the LPG business under the G-Gas brand in 2017.

This year the explosives department allowed the company to increase its LPG storage capacity to 5,405 tonnes.

At present, Energypac has an LPG storage satellite plant with a capacity of 1,200 tonnes.

While LAUGFS Gas is one of the largest LPG distributors in Bangladesh. By importing and distributing over 63,000 tonnes of LPG every year, the company has entered the LPG downstream industry of the country in 2001 with the brand name of Kleenheat Gas.

Meghna Petroleum got listed on the Dhaka Stock Exchange (DSE) in 2007.

In the first half of the 2020-21 financial year, Meghan Petroleum posted a net profit of Tk132.47 crore and its earnings per share was Tk12.24.

The closing price of the company's shares was Tk172.90 each at the DSE on Tuesday.