24 August 2020 04:11 pm
Sri Lanka will see the addition of a Liquefied Natural Gas (LNG) trading facility with the Board of Investment (BOI) having entered into an agreement with Pearl Energy (Pvt) Ltd. to launch the ‘Hambantota LNG Hub’.
The floating storage LNG trading facility will be established at the Port of Hambantota and is aimed at trading the energy source in the region.
The LNG Hub, that is expected to become a landmark infrastructure development for the region, will be set up with a total investment of US $ 97.2 million.
According to the BOI, the project will pave the way to increase access to natural gas in South Asia, making it a primary fuel for the region.