The Indian government has submitted a proposal through the Indian Oil Corporation (IOC) Ltd. for a multimodal oil pipeline connecting Nagapattinam in India, and Trincomalee Oil Tank Farm and Colombo in Sri Lanka.

Commenting on this matter, Mr. Kanchana Wijesekera, the Minister of Power and Energy, said that a discussion on the proposal was held with the IndianOil Company on February 07, coinciding with the Indian Energy Week.

The chairpersons of Indian Oil Corporation (IOC), Lanka IOC, Ceylon Petroleum Corporation (CPC), and Petroleum Development Authority of Sri Lanka (PDASL) have joined the interaction.

Technical studies, demand market analysis, financial analysis, and business models are to be conducted to determine the mechanism involved.

Regarding this discussion, the Minister further mentioned that they also discussed the investments and expansion of projects under the joint venture of the Oil Tank Farm in Trincomalee, Ceylon Petroleum Storage Terminals Limited (CPSTL), and Lanka IOC retail operations.

On the sidelines of the India Energy week I had a meeting with the @IndianOilcl yesterday. We discussed the proposal by the Indian Government through IOC for a multi product oil pipeline connecting Nagapattnam, Trincomalee Tank Farm & Colombo.

Technical studies, demand market… pic.twitter.com/A7E4AcgsSj

— Kanchana Wijesekera (@kanchana_wij) February 8, 2024