In an important development aimed at addressing the country's immediate energy requirements, Indian energy company Petronet LNG presented short-term solutions to meet the liquefied natural gas (LNG) demands of Sri Lanka's power sector. The proposal was put forth during a high-level discussion held earlier today, involving key stakeholders from both countries.
Under the guidance of Sri Lanka's Power and Energy Minister, Kanchana Wijesekera, officials from various organizations, including the Indian High Commission in Sri Lanka (IHCSL), the Ministry of Power and Energy (MOPE), the Ceylon Electricity Board (CEB), the Petroleum Development Authority of Sri Lanka (PDASL), and Petronet LNG, came together to explore viable options to reduce the cost of electricity generation.
The meeting, which was organized through the collaborative efforts of the Indian High Commissioner to Sri Lanka, Gopal Baglay, highlighted the urgency of finding immediate solutions to bridge the energy gap in the next 24 months. Sri Lanka currently relies on over 600 MW of LNG-powered plants to meet its growing energy demands.
Minister Kanchana Wijesekera expressed his gratitude to High Commissioner Baglay for his instrumental role in facilitating the discussions and extending India's support to Sri Lanka in overcoming the energy challenges faced by the island nation. The Minister emphasized the need for a long-term plan for LNG power generation, while concurrently exploring short-term solutions that would lead to cost reduction and enhance the country's energy security.
Petronet LNG, a leading player in the LNG industry, proposed several immediate measures to ensure a reliable supply of LNG for Sri Lanka's power plants. The company's suggestions aim to optimize the utilization of existing infrastructure and explore avenues for procuring LNG from diverse sources. By leveraging these short-term strategies, Sri Lanka seeks to stabilize the cost of power generation while transitioning to a more sustainable and environmentally friendly energy mix.
