Sri Lanka poised to join LNG market

The country’s push to become an LNG importer is gathering pace, bolstered by the island nation’s location on major shipping lanes

Nasdaq-listed New Fortress Energy's planned LNG regasification terminal off the coast of the Sri Lankan capital of Colombo is scheduled to start operations in 2023. The facility will initially supply around 35,000mn Btu/d (just under 2.7mn t/yr) of LNG “with the expectation of significant growth as new power plants become operational”, the company says. New Fortress has also agreed to take 40pc in local firm West Coast Power, owner of the 310MW Yugadanavi power plant, which burns oil but will be converted to use gas. As part of the same deal announced in September this year, New Fortress also secured the rights to supply gas to the wider Kerawalapitiya power complex, which includes the Yug