The government has begun talks with India to establish a Kochi-to-Colombo virtual liquefied natural gas (LNG) pipeline, which could reduce electricity rates.
“We are working to set up a virtual LNG pipeline from Kochi to Colombo to bring down electricity costs in Sri Lanka,” said the newly appointed Indian High Commissioner in Colombo, Santosh Jha, during India’s 75th Republic Day on Friday.
The latest move in energy cooperation between the two countries follows policy-level agreements on key projects such as a power grid connectivity project that will allow Sri Lanka to export power to India and a joint initiative to develop Trincomalee as an economic hub.
High Commissioner Jha noted that India was Sri Lanka’s largest trading partner, with bilateral trade worth USD 6 billion by 2022, and expressed hope to “enhance economic partnership and Sri Lanka’s export potential through the early conclusion of the Economic and Technology Cooperation Agreement (ETCA).
To date, he noted that India had contributed more than USD 5 billion towards development partnerships, touching every district of the country.
The flag hoisting ceremony to mark the 75th Republic Day was held earlier on Friday at India House, while the reception was held later in the day.
Source: Sunday Times
