The ‘National Policy on Sri Lankan Natural Gas’ has declared that the Government would take actions to establish a national natural gas company under a public – private partnership.
Accordingly, the company will look into storing, construction of pipelines, transportation and distribution, infrastructure facilities development, ownership and monitoring including local natural gas exploration and production.
The Government notes that it has been proved that fossil fuels, petroleum and natural gas fields are available within Sri Lanka’s territory according to the research performed in the Mannar area during the period from 2001 to 2013. Further to this, it said that manufacturing the same reduces dependence on imports and may create the opportunity for Sri Lanka to become an exporter of natural gases in the future and earn foreign exchange.
This company is proposed to be established as a subsidiary company of Ceylon Petroleum Corporation and the company will be entrusted with the responsibility of performing the activities and functions entrusted to it in terms of section V of Petroleum Resources Act No 21 of 2021.
To this effect, the proposal to establish the ”National Petroleum and Gas Company” under the Companies Act (No. 7 of 2007) submitted by the Minister of Power was approved by the Cabinet of Ministers.
Govt. to establish natural gas company
24 Nov 2021
Govt. to establish natural gas company
24 Nov 2021
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