Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore blocks for foreign companies to explore for energy resources and bring vital investments to the crisis-hit country, a top official told Reuters.
Sri Lanka’s offshore wind resource far exceeds the South Asian nation’s energy demand, and its development could help the country’s economic recovery by displacing costly fuel imports, according to the World Bank.
An unprecedented energy crisis that’s gripping some of the most densely-populated and impoverished parts of South Asia may soon worsen as more fuel suppliers avoid selling oil to these nations.
New Fortress Energy said it is ready to advance plans for a new LNG terminal offshore Sri Lanka after a legal challenge against the project was dismissed by the country’s Supreme Court.
The Polaris drillship, owned by Aquadrill Offshore, has caught fire while docked at a port in Sri Lanka, reported local officials.
The government of Sri Lanka is seeking to attract “top international” investors and revive exploration in the country’s under-explored deep waters as it seeks to shift the island towards a gas-based economy. Significantly, it is looking for help appraising and developing two potentially large gas discoveries.
Sri Lanka will forge ahead with plans to import liquefied natural gas (LNG) in the next few years, even as a global supply crunch sends prices of the fuel soaring.
New Fortress Energy has finalised a contract with the government of Sri Lanka that gives it the rights to develop a new liquefied natural gas (LNG) import terminal off the coast of Colombo that is expected to start up in 2023.
South Asia, which includes India, Pakistan, Sri Lanka, and Bangladesh, is slowly following the rest of the world in the transition towards cleaner energy systems. The subtle shift opens potentially large market opportunities for energy service suppliers.
The Ceylon Electricity Board (CEB) has launched an international tender process for a floating storage regasification unit (FSRU) as Sri Lanka aims to start importing liquefied natural gas (LNG).
An oil tanker loaded with two million barrels of Kuwati crude sailing toward India’s Paradip refinery caught fire Thursday morning off Sri Lanka’s coast, raising concerns about an oil spill.
Sri Lanka has said it will turn off electricity across the country for one-and-a-half hours every day after a breakdown in a 900megawatt $1.4billion Chinese-built coal power plant.