LNG terminal to be set up at Hambantota port.; the facility will supply natural gas to Southern India
The Board of Investment (BOI) of Sri Lanka recently signed an agreement
with Pearl Energy (Pvt) Ltd. for a Liquefied Natural Gas (LNG) project in
Hambantota, Port at the southern tip of Sri Lanka at an investment of 97.2 million US Dollars.
According to the agreement, Pearl Energy will set up a floating storage LNG
trading facility named ‘Hambantota LNG Hub’ at the Port, aiming to trade LNG in
the region using the Southern harbour’s strategic location. Operations are
expected to commence within the next six months, with Pearl Energy utilising a
floating storage unit with an initial capacity of 1 million tonnes per annum.
Company to initially
distribute LNG to South India and the Maldives
The company expects to initially distribute LNG to South India and the
Maldives, before expanding to other countries.
Unlike the Northern parts of India which has piped gas supply nearly three
decades ago, most of southern parts of the country still deals with obsolete
liquified petroleum gas cyclinders. Mumbai delhi and even most of the villages
of Gujarat have piped gas supply while such development is unknown even in
Metropolitan cities like Chennai even today.