Sri Lanka, which is heavily dependent on imported petroleum, petroleum-based products, liquefied petroleum gas (LP gas), and coal, is facing increased risks to its energy security as a result of the ongoing geopolitical situation.
Authorities noted that the crisis has led to challenges such as shipment cancellations, difficulties in obtaining insurance coverage, and reluctance among suppliers to enter into long-term agreements.
In response, the Cabinet has granted approval to procure petroleum products, LP gas, and coal outside standard procurement procedures for a period of three months. The process will be carried out in consultation with the National Procurement Commission, taking into account potential future developments.
