Sri Lanka today (28/ 03/ 2019) discussed the national draft policy on the liquid natural gas industry with a view to establish and develop the industry in Sri Lanka.
The Ministry of Highways & Road Development together with Petroleum Resources Development has drafted the national policy on natural gas to facilitate the exploration and production of natural gas, importation and exportation of Liquefied Natural Gas and utilization of natural gas as an energy source and raw material; and to establish the legal, regulatory and institutional framework for the natural gas industry in Sri Lanka.
Public Utilities Commission of Sri Lanka conducted the public consultation on behalf of the Ministry of Highways & Road Development and more than 300 people representing the public sector, private sector, experts and general public participated the event.
First Natural Gas discovery in Sri Lanka was made in the Mannar Basin, off North Western coast in 2011. So far, exploratory drilling has made two discoveries from the same block with estimated reservoir capacities in excess of 1 Trillion Cubic Feet (TCF) of natural gas and 10 million BBL(barrels) of condensate.
Exploratory evidence on natural gas deposits in Mannar Basin and the pursuit of relatively clean alternative fuels for enhancing the diversity of power generation energy mix have heightened the interest in natural gas in the country.
The draft policy explained that there is substantial evidence to indicate that Sri Lanka can reap significant economic, social, and environmental benefits from using natural gas as a source of energy in power, industrial, transportation, household and commercial sectors and a raw material for industrial purposes.
The Ministry of Highways & Road Development together with Petroleum Resources Development plans to incorporate the comments and suggestions received at the consultation to improve and finalize the policy.
For more information
Anushika Kamburugamuwa – Assistant Director, Corporate Communication via 0718622800