A Framework Agreement has been signed between the Government of Sri Lanka and New Fortress Energy (NFE) to construct a new offshore liquefied natural gas (LNG) receiving, storage and regasification terminal.
It will become Sri Lanka’s first LNG terminal and will be supplying gas to the country’s power plants, primarily located in the Kerawalapitiya Power Complex.
Located off the coast of Colombo, the terminal will supply natural gas to the 300-megawatt (MW) Yugadanavi Power Plant, with negotiations ongoing regarding a purchase of the Government’s 40% stake in the company that owns the power plant.
Commenting on Sri Lanka’s transition to clean energy, Wes Edens, Chairman and CEO of New Fortress Energy, said, “This investment in Sri Lanka’s first LNG terminal will advance the country’s clean energy transition and support sustainable development for this vibrant economy.”
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