Sri Lanka should be Asia’s energy hub: Energy Minister Gammanpila

Minister Gammanpila addressing energy sector employees at Lanka IOC head office 

Minister of Energy, Udaya Gammanpila reiterated the assurance of energy security and self sufficiency in the country recently, addressing energy sector employees at Lanka IOC head office. 

In line with the national policy of ‘Sawubhagya Dekma’ (Vistas of prosperity and splendor), the Minister further elaborated the plan of making Sri Lanka the energy hub of Asia and improving the existing energy mix by enhancing the contribution of hydro and renewable energy and expediting exploration of natural gas. 

Natural gas and oil extraction would be the paradigm shift in the Sri Lankan economy and very positive signals have been received from the three oil basins, he stressed.

He went on to assure that the extraction of petroleum oil or natural gas in Sri Lanka would begin before the next presidential election. He also emphasised on the importance of transforming the country’s energy mix towards renewable energy by way of facilitating and implementing projects towards wind energy, solar energy etc. 

Gammanpilla also spoke positively of the fact that LIOC is the only private company involved under the Petroleum Industry of the country, and noted that it has always been a contributor to national energy security. 

He acknowledged the commitment shown by LIOC in maintaining uninterrupted supplies of fuel during the unprecedented COVID period. 

He said he was pleased to see the concern and care for the environment shown by LIOC and voiced his appreciation regarding the installation of solar panels at their 30 petrol sheds, and four electric vehicle charging stations at some of their petrol sheds. He added that Lanka IOC is set to be the first company to start manufacturing Grease locally by the end of the year, which is in line with Government’s policy for import substitution.