Signing of the Memorandum of Understanding (MoU) Between LTL Holdings Limited, Sri Lanka and Petronet LNG Limited, India for LNG Infrastructure Development and LNG Supply for Power Plant in Kerawalapitiya
On 20th August 2024, LTL Holdings Limited, Sri Lanka, and Petronet LNG Limited, India, entered into a Memorandum of Understanding (MoU) for the development of infrastructure to store, regassify and supply LNG for the Sobadhanavi Combined Cycle Power Plant at Kerawalapitiya.
Both companies jointly submitted a proposal for Ministry of power and Energy which the cabinet approval has been granted following the evaluation by a technical evaluation committee.
The MOU signing marked a significant milestone in Sri Lanka’s journey toward cleaner and more sustainable power generation.
The event was graced by Honorable Kanchana Wijesekara, the Minister of Power and Energy, His Excellency Dr. Satyanjal Pandey, the Deputy High Commissioner of India for Sri Lanka, Dr. Sulakshana Jayawardhana, the Secretary to the Ministry of Power and Energy, Mr. Nalinda Illangakoon the Chairman of CEB, Mr. Saliya Wickramasuriya the Chairman of CPC, along with key representatives from the Ministry of Power and Energy, CEB, CPC, LTL Holdings Limited, Petronet LNG Limited and other authorities.
This MOU covers for a joint development by LTL and PLL to develop necessary infrastructure and supply of LNG for initially for Sobadhanavi Power Plant at Kerawalapityta which will be commissioned shortly. The proposal is an interim solution to introduce LNG for power generation in Sri Lanka on initiation by Government of Sri Lanka and the Government of India. Honorable Kanchana Wijesekara, the Minister of Power and Energy who was looking for reducing the generation cost to pass such benefit to the Sri Lankan electricity consumers, guided both entities and power authority in Sri Lanka to expedite a workable solution and in the implementation process.
This collaborative partnership will develop facilities to import LNG to Colombo Port via ISO Containers from Petronet’s Kochi terminal India as an interim solution to supply LNG to the Sobadhanavi Power Plant. Upon arrival at Colombo Port, the ISO Containers will be unloaded and stored in the port’s designated storage area. The ISO containers will then be transported to the Kerawalapitiya storage and regasification terminal and regasified LNG will be delivered to the power plant through a pipeline.
This initiative represents a key advancement in the nation’s power infrastructure, ensuring a sustainable and cost-effective solution for power generation to support the cost reflective consumer tariff introduced by the Honorable Kanchana Wijesekara, the Minister of Power and Energy ,thereby stabilizing the entire power sector in SL. The use of LNG, a cleaner-energy source, will significantly reduce greenhouse gas emissions, contributing to Sri Lanka’s environmental goals. Furthermore, the cost efficiency of LNG will lead to lower electricity costs, providing economic relief to consumers and supporting broader economic growth.
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