Sri Lanka on “perfect path” to boost Trincomalee tank capacity: Govt.

Colombo, March 18 (Daily Mirror) - Sri Lanka is on the perfect path toward increasing the storage capacity of oil tanks in Trincomalee as part of a long-term strategy to strengthen the country’s energy security, Cabinet Spokesman Dr. Nalinda Jayatissa said.

Addressing the weekly Cabinet briefing yesterday, Dr. Jayatissa revealed that expanding the storage capacity in Trincomalee remains a key long-term solution under the government’s energy development agenda.

He noted that several tanks have already been renovated by the Ceylon Petroleum Corporation (CPC), with an allocation of Rs. 32 billion made for the initiative.

The development comes alongside a major trilateral agreement signed between Sri Lanka, India and the United Arab Emirates to transform Trincomalee into a strategic energy hub.

According to the Cabinet Spokesman, the memorandum of understanding (MoU) outlines cooperation in developing energy infrastructure aimed at ensuring affordable energy access for Sri Lanka, while also generating export revenue through future energy projects.

A central component of the partnership is the modernisation of the Trincomalee oil tank farms, originally built during World War II, which are currently only partially operational under the management of Lanka IOC.

The project also includes plans to establish a pipeline to transport petroleum products from southern India to Sri Lanka, a move expected to enhance regional energy connectivity and significantly reduce supply costs.