Sri Lanka government closing in on Shell Gas Lanka take-over

Sri Lanka government is closing in on the take-over negotiations with the owners of the country's major LP Gas retailer, Shell Gas, to buy the formerly state-owned venture back, government sources say.

Royal Dutch Shell owns a 51 percent stake in Shell Gas Lanka. The government which already owns 49% of the shares of Shell Gas is now negotiating to acquire the rest of the shares.

The government rationalizes its move stating LP Gas has become an essential commodity in present Sri Lanka. A negotiating committee for Shell gas has been appointed and the negotiations are now underway. It is chaired by the Secretary to the Prime Minister Sirisena Amarasekara.