Sri Lanka has invited Petronet LNG to set up a liquid gas import terminal in that country, marking a major success for the Narendra Modigovernment’s energy diplomacy and signalling India’s emergence as a gas bridge for South Asia.
The LoI (letter of intent) for the project was handed over during external affairs minister Sushma Swaraj’s visit to Colombo on September 1. The deal has been in the making for over a year, as part of oil minister Dharmendra Pradhan’s efforts to quietly weave a web of energy relationships in the extended neighbourhood spanning Myanmar in the east to the Gulf in the west by suitably leveraging India’s position both as a large consumption centre and a major source of petro-products and expertise.
For Petronet, the LoI is a recognition of its prowess in the area of liquid gas and paves the way for its first overseas liquid gas project, an area that has traditionally been dominated by global majors such as Shell and BP. Read More…
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