New Fortress to build FSRU-based LNG terminal off Colombo
US-listed company signs framework agreement with Sri Lanka’s Secretary to the Treasury and the Minister of Finance.
New Fortress Energy is set to build Sir Lanka’s first LNG import terminal using a floating storage and regasification unit. The terminal will primarily supply the Kerawalapitiya Power Complex and the 300 MW Yugadanavi power plant.
Operations are expected to begin by the second half of 2022 and the company said it expects the Kerawalapitiya Power Complex to grow to more than 1,000 MW by 2025.
New Fortress chairman and chief executive Wes Edens said: “This investment in Sri Lanka’s first LNG terminal will advance the country’s clean energy transition and support sustainable development for this vibrant economy.
“This is the first of what we think will be a number of investments in power and infrastructure in the country.”
