"Petronet will be the leader of the joint venture with the largest shareholding," he informed after the company's annual general meeting adding that the Sri Lankan government will also be a partner in the project.
Petronet officials will visit Tokyo this month and Colombo in October to finalise the project details, he said.
Sri Lankan government had earlier this month issued a Letter of Intent to the company to build a floating LNG import facility to supply gas to power plants and the transport sector in the island nation.
While the capacity of the import terminal, to be set up at Kerawalapitiya on the west coast, is yet to be decided, Petronet had in its proposal to the Sri Lankan government proposed a two-million tonne facility that would cost about USD 250 million.
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