India and Sri Lanka Hold Talks on Proposed Multi-Product Oil Pipeline and Energy Projects
February 10, Colombo (LNW): Diplomatic negotiations between India and Sri Lanka have gained momentum as discussions revolve around a significant infrastructure project. The proposed multi-product oil pipeline is designed to connect India’s Nagapattinam to Sri Lanka’s Trincomalee Oil Tank Farm.
During a meeting on the sidelines of the India Energy Week, Sri Lanka’s Power and Energy Minister, Kanchana Wijesekera, engaged with the Indian Oil Company (IOC). The minister later shared insights on the discussions through X, stating that they deliberated on the Indian Government’s proposal, facilitated by IOC, for a multi-product oil pipeline linking Nagapattnam, Trincomalee Tank Farm, and Colombo.
Minister Wijesekera revealed that comprehensive assessments, including technical studies, demand market analysis, financial analysis, and business models, will be conducted to determine the project’s mechanism.
The discussions also encompassed investments and the expansion of projects under joint ventures involving Trincomalee Tank Farm, Ceylon Petroleum Storage Terminals Limited (CPSTL), and Lanka Indian Oil Corporation (LIOC) retail operations.
In addition to the oil pipeline, the progress of the Sampur Ground Mount Solar Project, a joint venture between NTPC of India and the Ceylon Electricity Board (CEB), was discussed during the India Energy Week. Minister Wijesekera mentioned that the Chairman of NTPC expressed interest in investing in wind and floating solar projects in Sri Lanka, indicating potential collaborations in the renewable energy sector between the two countries.