The Government is mulling over taking a policy decision for extensive use of Liquefied Natural Gas (LNG) as a source for power generation, particularly in thermal power plants.
Addressing the ministerial session at Petrotech 2010 at Vigyan Bhavan in New Delhi, Minister Susil Premajayantha said that Furnace Oil is used for generating nearly 1100 MW out of the 2000 MW of power generated in the country. Sharing the information on the Sri Lankan oil and gas scenario, the Minister informed the audience that efforts are on for a policy decision for extensive use of LNG, particularly in thermal power plants. The Minister has said that Cairn India would begin the offshore oil drilling programme off the coast of Mannar in May 2011. He has said that Cairn has already completed 3-D testing activity, and would initiate the next steps in due course.
Cairn is planning to invest 110 million US Dollars for oil exploration in the Mannar Basin. Ministr Premajayantha said the political stability and the peaceful environment in Sri Lanka are favourable conditions for more foreign investments in the energy sector. During the conference themed ‘Global Energy Equilibrium’ energy ministers from several countries shared the energy scenario in their countries and identified the areas of cooperation and business development in the energy sector.