A ‘free of charge’ floating LNG terminal from South Korea? (VIDEO)

A ‘free of charge’ floating LNG terminal from South Korea? (VIDEO)

Written by Lahiru Fernando

14 Jan, 2018 | 10:26 pm

The Government of Sri Lanka has received a South Korean proposal for a ‘free of charge’ floating Liquefied National Gas terminal (LNG).

And now, the Government is to open for procurement.

This comes tied to an Annual order of 1 Million metric tonnes of LNG for two decades at international market prices.

According to a report by the Sunday Times newspaper, this is the most expensive tender to be floated in Sri Lanka.

In addition, the paper reports that the procurement is to be carried out using ta method known as the “Swiss Challenge” method.

The Swiss Challenge method is one of the least used methods of procurement in the world, said the Sunday Times quoting experts.

They also say procurement for such vast projects should be carried out in keeping with the principles of open international competitive bidding.

Watch the video below for added information on this story and more!

Latest News

Are you interested in advertising on our website or video channel
Please contact us at [email protected]