Petronet To Build Sri Lanka’s First LNG Terminal

Petronet To Build Sri Lanka’s First LNG Terminal

Petronet LNG Ltd, India’s biggest importer of gas, will partner with Japan’s Mitsubishi and Sojitz Corp to set up Sri Lanka’s first liquefied natural gas (LNG) terminal near Colombo, its CEO Prabhat Singh said today.

“Petronet will be the leader of the joint venture with the largest shareholding,” he told reporters after the company’s annual general meeting here.

Without disclosing the shareholding, he said the Sri Lankan government will also be a partner in the project.

Petronet officials will visit Tokyo this month and Colombo in October to finalise the project details, he said.

Sri Lankan government had earlier this month issued a Letter of Intent to the company to build a floating LNG import facility to supply gas to power plants and the transport sector in the island nation. Read More…

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