Maldive Gas has signed an external financing agreement with Allied Insurance Company to increase its LPG storage capacity in Thilafushi.
The agreement was signed on behalf of Maldive Gas by its Managing Director Abdullah Mohamed, while Allied was represented by Managing Director Hussain Luwaiz.
Maldive Gas MD Abdulla said LPG is currently stored in the Maldives for 35 days due to storage constraints. However, when the storage capacity is increased, a five-month stock of LPG can be accommodated.
"The work will be completed within six to nine months from signing the contract. Then, even if there is a war abroad, there will likely be no challenges in obtaining gas," Abdulla said.
Maldives Gas is also working on establishing an extra distribution center in Hulhumale'.
