SOCAR eyes SL for LNG development

The State Oil Company of Azerbaijan Republic (SOCAR) announced it is eying Sri Lanka to set up its upcoming LNG development by partnering with the Pearl Energy project.

The Geneva based company plans to develop LNG capabilities at the Hambantota port by partnering with the Pearl Energy project, where the LNG would then be transported by road to power producers. The bigger goal is to build a power plant at the port.

According to international media, SOCAR has firmed up a deal with Chinese port operators and Gulf state partners to set up a small-scale LNG trading hub terminal.