Energy Minister Gammanpila says Sri Lanka should be Asia’s Energy Hub

New Energy Minister Udaya Gammanpila on Wednesday reiterated the assurance of energy security and self-sufficiency in the country while addressing the employees of the energy sector of Lanka IOC’s head office in presence of Secretary to the Ministry of Energy K.D.R. Olga. 

In line with the national policy of “Sawubhagya Dakma” (“Vistas of Prosperity and Splendor”), the Minister further elaborated on the plan of making Sri Lanka the energy hub of Asia, while also 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, stated the Minister, noting that very positive signals have been received from the three oil basins.

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.