The state owned Petronet LNG will soon form a joint venture with Japanese
and Sri Lankan companies to build a liquefied natural gas (LNG) terminal near
Colombo, the company said in a statement on September six.
The Sri Lankan government has issued a letter of intent to the Indian
government to build the plant that would supply regassified natural gas to
power stations and the transport sector in Sri Lanka, Petronet said.
"The capacity of the LNG terminal will be decided upon the gas demand
in Sri Lanka and is expected to be developed in 2 years after completion of
initial formalities," it added.