Petronet LNG to develop LNG terminal in Sri Lanka
Sri Lanka has decided to go ahead with the setting up of an LNG terminal near Colombo with Indian and Japanese companies. Petronet LNG will soon form a joint venture with Japanese and Sri Lankan companies to develop the LNG terminal which will provide regasified natural gas to various power plants, and domestic and transport sectors in Sri Lanka. The capacity of the terminal will be based on the demand for gas in Sri Lanka. The facility is expected to be developed in 2 years after completion of initial formalities. The terminal will be built on the western coast of Sri Lanka, in close vicinity of Colombo where most of the power projects (operating mainly on costly liquid fuel) are located.