Basil briefs party leaders about benefits of deal with New Fortress Energy

• New Fortress Energy announced earlier that it had signed a Framework Agreement with the Government of Sri Lanka to construct a new offshore LNG receiving, storage and regasification terminal
• The reduction in unit cost of electricity generation and environmental sustainability were cited as potential benefits

By Kelum Bandara

Finance Minister Basil Rajapaksa is reported to have briefed the potential benefit of tying up with New Fortress Energy of the United States to develop the LNG (Liquefied Natural Gas) energy sector in Sri Lanka.

The meeting took place under the chair of Prime Minister Mahinda Rajapaksa yesterday evening at Temple Trees. The reduction in unit cost of electricity generation and environmental sustainability were cited as potential benefits.   
New Fortress Energy announced earlier that it had signed a Framework Agreement with the Government of Sri Lanka to construct a new offshore LNG receiving, storage and regasification terminal. The Terminal will be located off the coast of Colombo to supply gas to the country’s power plants, primarily located in the Kerawalapitiya Power Complex.   

As part of the Agreement, New Fortress will supply natural gas to the existing 300MW Yugadanavi Power Plant and is negotiating the purchase of the Government’s 40% stake in the company that owns the power plant.   

 The meeting took place under the chair of Prime Minister Mahinda Rajapaksa yesterday evening at Temple Trees. The reduction in unit cost of electricity generation and environmental sustainability were cited as potential benefits.   
New Fortress Energy announced earlier that it had signed a Framework Agreement with the Government of Sri Lanka to construct a new offshore LNG receiving, storage and regasification terminal. The Terminal will be located off the coast of Colombo to supply gas to the country’s power plants, primarily located in the Kerawalapitiya Power Complex.   

As part of the Agreement, New Fortress will supply natural gas to the existing 300MW Yugadanavi Power Plant and is negotiating the purchase of the Government’s 40% stake in the company that owns the power plant.