May 12, Colombo: Sri Lanka will begin natural gas production by the end of this year, Power and Energy Minister Patali Champika Ranawaka says.
Minister Ranawaka told media yesterday that a strong legal framework is needed for oil and gas production in Sri Lanka. Without a strong legal framework, Sri Lanka cannot attract investors to begin oil and gas production, he noted.
Cairn India, which explored oil in the Mannar basin in the North West, found gas deposits in two of the four wells it explored.
The Minister also assured that the fuel prices will not be increased under any circumstances. The Minister expressed confidence that despite a significant increase in global fuel and gas prices Sri Lanka can maintain the reduced prices.
He stressed that there is no shortage of fuel in the country and also denied rumors that Ceylon Petroleum Corporation is incurring losses.