The Government agreed to grant New Fortress a five-year LNG supply deal to recover their expenditure on the floating storage regasification unit (FSRU) and pipeline construction. Responding to a query about the LNG supply agreement with New Fortress that might send mixed signals about the national energy strategy, energy expert Dr. Vidhura Ralapanawe pointed out that it may lead to confusion among potential investors and cast doubts on government policy. The Yugadanavi-New Fortress agreement, which had not followed existing tender processes, drew strong condemnation from the Opposition and from within the Government’s ranks. Meanwhile, Opposition Leader Sajith Premadasa issued a statement calling on the Government to withdraw the agreement, alleging that the LNG supply agreement will give the US-based company a monopoly. “The agreement allows New Fortress Energy to supply LNG to any power plant in the country.

Source: The Nation September 25, 2021 18:22 UTC