Sri Lanka's energy-consumption fast increasing

by Naalir Jamaldeen

The demand for energy is increasing sharply all over the world. India has been placed fourth in energy consumption after China, The Russian Federation and USA. The Consumption of energy in Sri Lanka increasing fast, Indian High Commissioner for Sri Lanka Y.K. Sinha said

Addressing the "4th Asia Energy Security Summit" organised by the Independent Power Producers Association (IPPAI) at Taj Samudra Hotel, Sinha said that Sri Lanka's economy had expanded in the post-terrorism period and is fast turning into a energy consuming country.

"I would like to talk about the long lasting relations between Sri Lanka and India. The two countries have cultural, religious and linguistic ties for decades", he said.

As the economy grows the necessity for energy will also increase. Energy is crucial for industries such as chemicals, aluminium, cement, iron and steel, paper glass and the petroleum.

According to the energy outlook of 2013, energy-intensive sectors worldwide account for one-fifth in the industrial value, one quarter in the industrial requirement and 70 percent of the industrial energy use, he said.

The demand for energy has its deep impact on its sources the world over. Access to energy is a vital component of national policy and also impacted the conduct of international relations and realisation of foreign policy objectives, he said.

In the context of Sri Lanka-India relations the energy sector constitutes an important pillar of bilateral cooperation, he said.