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Energy consultant slams deal with NFE as being dubious and ambiguous

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By Rathindra Kuruwita

The Kerawalapitiya deal between Sri Lanka and US, based New Fortress Energy (NFE) had been finalised within three months and it was by far one of the fastest such deals in the world, Nimal de Silva, Consultant – Oil and Gas Exploration, yesterday said.

“This agreement is dubious and ambiguous. This is NEF’s first deal of this nature outside the Americas. They had earlier approached Ireland and the Philippines, but even after trying for a year, they couldn’t reach an agreement with those countries,” de Silva said.

Wes Edens, the CEO of NFE, was known as a ruthless go-getter, de Silva said. Edens visited Sri Lanka on 12 January 2021 and met then Finance Minister Mahinda Rajapaksa and others, according to de Silva.

“After the meeting, the Prime Minister’s Media issued a press release that Edens had shown interest in investing in tourism, transport and renewable energy. There was no mention that Edens had expressed interest in investing in an LNG plant. On 18 February 2021, the Ceylon Electricity Board (CEB) gazetted a tender for an LNG plant in Kelawarapitiya. On March 05, a foundation stone for the construction of Sri Lanka’s first LNG power plant was laid at Kerawalapitiya. Making an emotional speech there, then Minister of Power, Dullas Alahapperuma said that they could sell a unit of power at Rs. 15,” de Silva said.

However, according to a report by NFE on a meeting Edens held with his main investors, on March 16, the NFE CEO claimed that they had secured their first deal in Asia. Edens had also said that they can purchase a metric million British thermal units (mmBtu) of LNG at USD 3.50 and will sell at around USD 10, the energy consultant said. “Initially, it was said that NFE would sell a unit of energy at about nine cents (USD) but there are three pricing formulas in this agreement and prices can vary from Rs. 24 per unit to Rs. 42 per unit, based on the formula. If we have learnt anything from history it is that nothing good comes out of such a dodgy agreement. However, the real problem is not the sale of shares but the fact that we have given NFE the contract to supply LNG, usually the client keeps that part of the deal,” he said.

De Silva said that usually the LNG was not supplied by the contractor because that’s where billions of dollars were spent. He added that Qatar and Australia were the two leading producers of LNG in the world. Indonesia and Malaysia also produced LNG. Given that Sri Lanka was friendly with all those nations, it could have procured an mmBtu at around USD 7 through a direct agreement with any of those governments, De Silva said.

“NFE is to get the LNG from Cameron because US companies are now investing in African nations that have found oil. NFE will get an mmBtu at around USD 3.50 and will make a killing. This is the first LNG contract they got outside the Americas and probably the best one,” he said.



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Prime Minister highlights the importance of recognising Women’s Unpaid Care Work

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Prime Minister Dr Harini Amarasuriya participated in the International Women’s Day Flagship Event hosted by the Asian Development Bank (ADB) on 10 March at the ADB Headquarters in Manila, Philippines. The event brought together senior ADB leadership, representatives of the diplomatic community, and development partners to mark International Women’s Day and to reaffirm global commitments to gender equality.

Delivering the keynote address, the Prime Minister highlighted the critical role of education in empowering women and girls, emphasising that equitable access to quality education remains one of the most powerful tools for achieving social and economic transformation. She underscored Sri Lanka’s longstanding commitment to education and noted the importance of strengthening inclusive learning systems that enable women to fully participate in national development.

The Prime Minister also drew attention to the significant contribution of women’s unpaid care work, noting that it remains largely unrecognised despite its vital role in sustaining families, communities, and national economies. She emphasised the need for policies and social protection mechanisms that acknowledge and support care work, thereby enabling women to participate more fully in economic life.

Addressing broader structural challenges, the Prime Minister stressed the importance of increasing women’s participation in political decision-making and the labour force, noting that inclusive governance and economic participation are essential for sustainable and equitable development.

She highlighted the need for continued collaboration between governments, international institutions, and development partners to remove barriers that limit women’s opportunities.

During the event, Prime Minister was honoured with the Shireen Lateef Women’s Leadership Award in recognition of her commitment to advancing women’s leadership and empowerment.

The event was opened by the President of the Asian Development Bank and senior ADB leadership, followed by a high-level discussion on advancing gender equality across the region. The Prime Minister’s participation reaffirmed Sri Lanka’s commitment to strengthening partnerships with international institutions to promote women’s empowerment and gender-responsive development policies.

(Prime Minister’s Media Division)

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CEBEU warns of operational disruptions amid uncertainty over CEB restructuring

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The Ceylon Electricity Board Engineers’ Union (CEBEU) yesterday warned that uncertainty surrounding the ongoing restructuring of the Ceylon Electricity Board (CEB) had forced many employees to refrain from performing their regular duties, raising concerns about potential disruptions to electricity sector operations.

The engineers’ union said the current situation had arisen due to what it described as either deliberate actions or extreme negligence in implementing the restructuring process, which has created significant confusion among staff who previously served under the CEB.

According to the union, although the state power utility has been formally restructured and new companies established, a large majority of former CEB employees have yet to receive official appointment letters, confirming their positions in the newly formed entities.

“The reality is that the institution, previously known as the Ceylon Electricity Board, no longer exists in its earlier form, yet most employees, who served under it, have not been issued proper appointment letters, or related documentation, assigning them to the newly established companies,” the CEBEU said.

The union said that while some workers had been issued “assignation letters”, those documents merely indicate the institution to which an employee has been attached and do not clearly define employment conditions, responsibilities, authority, or reporting structures.

“As a result, employees currently lack the necessary legal framework confirming their employment status, their duties, the authority under which they operate, and who they are accountable to within the new institutions,” the CEBEU said.

The engineers’ union emphasised that the current crisis was not created by employees but was the direct result of, what it called, shortsighted and questionable actions taken by those responsible for implementing the reforms.

It also expressed concern that the relevant Minister, appointed through the National List, had failed to hold meaningful discussions with employees, despite having previously advocated strongly for workers’ rights.

The union said trade union action had been launched only after months of unsuccessful attempts to resolve the issues through verbal requests and written communication with the authorities.

“Despite repeated appeals made over several months, there has been no satisfactory response. Decisions appear to have been taken under the assumption that a government with a strong mandate can proceed without proper consultation,” the union said.

However, the CEBEU stressed that employees engaged in essential operations—including power generation, transmission, and distribution—continue to work in order to ensure electricity supply to the public.

“These staff members are continuing their duties under considerable risk to prevent major disruptions to the electricity supply,” the union noted.

Nevertheless, the union warned that the prevailing uncertainty could affect certain operational activities, and restoration work following breakdowns may take longer than usual.

The CEBEU appealed to the public to understand the situation and expressed regret for any inconvenience that may arise.

“We request the public to understand the situation and cooperate with us during this difficult period. We sincerely regret any inconvenience that may be caused,” the union added.

By Ifham Nizam

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Remittances up compared to last year before outbreak of war, but the economic picture is not rosy

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Sri Lanka Bureau of Foreign Employment (SLBFE) yesterday said that foreign remittances, during January and February this year, had been 32% higher than the corresponding period in the previous year.

According to a press release issued by the SLBFE, Sri Lanka received Rs 1,480.1 mn during January and February this year, whereas in 2025 the country received Rs1,121 mn during the corresponding period. During the first two months of this year, 47,819 Sri Lankans had left the country for employment abroad.

However, Prof. Priyanga Dunusinghe has warned that Sri Lanka could face a catastrophic situation due to a rapid and sharp drop in revenue caused by the escalating Gulf war. Fighting erupted on February 28 following a joint US-Israel attacks on Iran.

Appearing on Derana ‘Big Focus’ on Monday, the Professor in Economics in the Department of Economics, and Head – Department of Information Technology, University of Colombo, Dunusinghe said that that the drop in remittances from the Middle East, as well as exports, should be examined against the backdrop of runaway oil prices.

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