Lysosomal lipase that regulates the metabolism of long-chain fatty acids, primarily in response to nutrient availability (PubMed:21906946, PubMed:23392608, PubMed:25554789, PubMed:30713071). The production of these lipid signaling mediators regulates various processes, including lipolysis, autophagy, mitochondrial beta-oxidation, which in turn control lifespan and adaptation to starvation (PubMed:21906946, PubMed:23392608, PubMed:25554789, PubMed:30713071). In response to fasting, promotes the production of omega-6 polyunsaturated fatty acids (PUFAs), which in turn activates autophagy resulting in lifespan extension (PubMed:23392608). Produces oleoylethanolamide (OEA), a ligand for the lysosomal lipid chaperone lbp-8 which translocates into the nucleus where it activates the transcription of genes promoting longevity and activation of mitochondrial beta oxidation (PubMed:25554789, PubMed:30713071). a triacylglycerol + H2O = a diacylglycerol + a fatty acid + H(+) 1,2,3-tri-(9Z-octadecenoyl)-glycerol + H2O = (9Z)-octadecenoate + di-(9Z)-octadecenoylglycerol + H(+) Optimum pH is acidic. Expressed in all larval stages. Expression decreases in adults. Up-regulated in the intestine by fasting. RNAi-mediated knockdown has no effect on global lipase activity (PubMed:21906946). In a glp-1 (e2141) mutant background which lacks a germline, reduces the increase in both lipase activity and autophagy (PubMed:21906946). Belongs to the AB hydrolase superfamily. Lipase family.