Transparent, competitive procurement proposed in Sri Lanka natural gas policy
Mar 21, 2019 13:24 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – A new policy drafted on Sri Lankan plans to introduce natural gas has proposed the government will adopt transparent and competitive procurement procedures in all sourcing transactions where public sector agencies and state-owned enterprises are involved.
It said the government will adopt a transparent process of procurement of liquefied natural gas (LNG), enabling the country to acquire LNG at the most competitive prices
“Sourcing will be conducted taking into consideration key factors such as price, time of purchase, quantity and quality requirements to give Sri Lanka a competitive advantage when negotiating contracts in the international LNG markets,” the draft said.
It proposed developing a pricing mechanism that “enables consumers to access natural gas at affordable prices while ensuring returns attractive enough for suppliers to encourage sustained investments.”
“The government will adopt a formula-based pricing policy for natural gas covering both supplies from indigenous sources as well as imported LNG that is aimed at ensuring affordable prices for consumers while guaranteeing sufficient returns on investments for suppliers to sustain and attract investments for growth of the industry.”
The Ministry of Highways & Road Development and Petroleum Resources Development has invited public comments on the draft policy which will be discussed at a forum on March 28.
(COLOMBO, March 21, 2019-SB)